Indicator scripts for TradingView

Introduction TradingView is a top platform for traders, offering a wide range of tools and features to improve market analysis...

Strategy Crypto, ETFs, Forex, Futures, Indices, Stocks

SureShot Adaptive Grid System (All-In-One)

Original price was: $ 39.00.Current price is: $ 29.00. / month

Overall Profit

2,596 %

or $ 2,596

Avg. Profit

17.3 %/Yr

Win Rate

81.5 %

Profit Factor

7.643 Best for Gold

Strategy ETFs, Futures

Gold Digger (For XAUUSD, 1H)

Original price was: $ 59.00.Current price is: $ 29.00. / month

Overall Profit

2,029 %

or $ 2,029

Avg. Profit

59.7 %/Yr

Win Rate

53.02 %

Profit Factor

2.306 Best For Crypto

Strategy Crypto

Crypto Crusher (for Crypto, 1D)

Original price was: $ 79.00.Current price is: $ 49.00. / month

Overall Profit

14,721 B %

or $ 14,721 B

Avg. Profit

402.7 %/Yr

Win Rate

41.73 %

Profit Factor

3.214

Strategy Crypto, Indices

Coin Alpha (for BTC & Crypto, 4H)

Original price was: $ 99.00.Current price is: $ 59.00. / month

Overall Profit

261,530 %

or $ 261,530

Avg. Profit

69.8 %/Yr

Win Rate

47.92 %

Profit Factor

1.716

Strategy Crypto

ChainSmoker (For BTC, Major Coins, 30m-4H)

Original price was: $ 79.00.Current price is: $ 49.00. / month

Overall Profit

396,794 %

or $ 396,794

Avg. Profit

77 %/Yr

Win Rate

47.6 %

Profit Factor

1.505

Strategy Forex

€URO Cha$er (For EURUSD, 1H)

Original price was: $ 99.00.Current price is: $ 69.00. / month

Overall Profit

119,359 %

or $ 119,359

Avg. Profit

52.4 %/Yr

Win Rate

65.84 %

Profit Factor

2.825

Strategy Crypto

Bitcoin miner

Original price was: $ 39.99.Current price is: $ 19.99. / month

Overall Profit

83,042 %

or $ 83,042

Avg. Profit

63.15 %/Yr

Win Rate

100 %

Profit Factor

10

Strategy ETFs, Indices

Black-Scholes Model (For SPX, 1H)

Original price was: $ 99.00.Current price is: $ 69.00. / month

Overall Profit

23,497 %

or $ 23,497

Avg. Profit

59.8 %/Yr

Win Rate

56 %

Profit Factor

1.479

Strategy ETFs, Indices

CC NIFTY Strategy 1H

Original price was: $ 69.00.Current price is: $ 39.00. / month

Overall Profit

12,482 %

or $ 12,482

Avg. Profit

38,18 %/Yr

Win Rate

69.57 %

Profit Factor

4.722 Most Profitable | NIFTY

Strategy ETFs, Indices

NIFTY SuperTrend (NIFTY, 1H)

Original price was: $ 79.00.Current price is: $ 49.00. / month

Overall Profit

34,276 %

or $ 34,276

Avg. Profit

54.0 %/Yr

Win Rate

50.93 %

Profit Factor

1.636

Introduction

TradingView is a top platform for traders, offering a wide range of tools and features to improve market analysis and trading strategies. One of its standout features is the use of indicator scripts. These scripts allow traders to create custom indicators tailored to their specific needs, providing deeper insights into market trends and potential trading opportunities.

Indicator scripts for TradingView are developed using Pine Script, a lightweight programming language created specifically for financial market analysis. Pine Script’s user-friendly syntax and built-in error checking make it accessible even to those without prior coding experience. However, having some coding experience can help users get more out of the scripting process, enabling them to create more advanced and customized indicators. By using Pine Script, you can develop unique indicators that bring a new level of customization and accuracy to your trading strategies.

Key Points:

TradingView: A leading platform for traders with comprehensive charting tools.
Indicator Scripts: Customizable tools that enhance trading strategies by providing tailored insights.
Pine Script: The programming language used to develop these custom indicators on TradingView.

Understanding how indicator scripts work within TradingView can greatly improve your trading approach, allowing you to fully utilize custom analytics.

Understanding Pine Script

Pine Script™ is a programming language specifically designed for analyzing financial markets. It is used to create custom indicators and test trading strategies on TradingView. This specialized focus allows traders to tailor their analytical tools precisely to their needs.

Pine Script enables users to interact directly with TradingView’s platform features, such as building custom indicators and strategies.

Key Features of Pine Script

Here are some reasons why Pine Script™ is easy to use:

Intuitive Syntax

The language is designed to be easy to read and write, even for those with minimal programming experience. Its syntax resembles natural language, making script development less daunting.

Built-in Error Checking

Pine Script incorporates error-checking mechanisms that help identify and resolve coding issues swiftly. This feature reduces the learning curve and enhances the scripting experience.

These features make Pine Script a great choice for traders who want to improve their strategies with customized indicators.

The Power of Community-Developed Indicators

The TradingView community, with over 100,000 published indicators and strategies, plays a crucial role in the platform’s ecosystem. This collective intelligence drives innovation through collaborative script development. Users from around the world contribute their expertise, creating a vibrant environment where ideas flourish.

Using Community Indicators:

Easy Access: The vast TradingView library offers an extensive range of community indicators that you can easily integrate into your trading strategy. Whether you’re looking for dynamic trend indicators or machine learning adaptive tools, there’s something for every trader.
Open-Source Code: Many scripts are open-source, allowing you to inspect and modify the code to fit your specific needs. This transparency fosters learning and provides a foundation for developing your custom indicators.
Variety of Tools: From moving averages and oscillators to advanced analytical techniques like sentiment analysis, the variety of tools available is staggering. These resources enable comprehensive market analysis, allowing you to refine your approach based on proven methods developed by others.

Additionally, if you’re interested in delving deeper into the results provided by these indicators, there are ways to scrape indicator results from TradingView. This process involves following certain steps and instructions which can provide even more valuable insights into your trading strategies.

By using this collection of shared knowledge, you can improve your trading strategies with tested and innovative tools while also helping the community grow.

Creating Custom Indicator Scripts on TradingView

Creating indicators is a fundamental step in customizing and developing trading strategies using Pine Script on TradingView. The Pine Editor within TradingView’s charting interface is the go-to tool for this purpose. Here’s a step-by-step guide to help you get started:

Step 1: Launch TradingView

Open the TradingView website and log in to your account.
Navigate to the charting interface by selecting any stock or asset.

Step 2: Access the Pine Editor

At the bottom of the charting interface, locate and click on the “Pine Editor” tab.
This will open a coding window where you can write and edit your Pine Script code.

Step 3: Write Your Script

Start by defining your script with a name and version using //@version=5 and indicator() functions. The second line in your script is typically used for important metadata, such as the indicator() function, which sets up the script’s configuration.
Example:
pinescript //@version=5 indicator(“My Custom Indicator”, overlay=true)
Add logic for calculations. For instance, to create a Simple Moving Average (SMA):
pinescript sma_length = input(14, title=”SMA Length”) sma_value = ta.sma(close, sma_length) plot(sma_value, color=color.blue, title=”SMA”)

Step 4: Add Visual Elements

Use functions like plot(), plotshape(), and hline() to visualize data.
Example of plotting an SMA line with custom color:
pinescript plot(sma_value, color=color.blue, title=”SMA”)

Step 5: Save and Apply

Click on “Save” to store your script.
Select “Add to Chart” to apply your custom indicator directly onto your chart.

Practical Examples of Custom Indicators

To give you a sense of what’s possible with Pine Script, here are a few practical examples:

Relative Strength Index (RSI)

pinescript //@version=5 indicator(“Custom RSI”, shorttitle=”RSI”, overlay=false) rsi_period = input(14, title=”RSI Period”) rsi_value = ta.rsi(close, rsi_period) plot(rsi_value, color=color.red, title=”RSI”)

The RSI calculation in this example uses the closing price as the primary data point to measure momentum.

Bollinger Bands

pinescript //@version=5 indicator(“Custom Bollinger Bands”, overlay=true) length = input(20, title=”Length”) src = close mult = input(2.0)

basis = ta.sma(src, length) dev = mult * ta.stdev(src, length)

upper = basis + dev lower = basis – dev

plot(basis, color=color.blue) plot(upper, color=color.green) plot(lower, color=color.red)

In this example, the blue line represents the middle Bollinger Band, which is the 20-period simple moving average (SMA), while the green line represents the upper band, signaling potential overbought conditions.

These examples showcase how flexible and powerful Pine Script is for creating custom indicators tailored to your specific needs. The process not only enhances your market analysis but also deepens your understanding of various technical indicators.

Implementing Technical Indicators in Your Scripts

Technical indicators like the Simple Moving Average (SMA) and Relative Strength Index (RSI) are fundamental tools in technical analysis. These indicators are often represented as lines plotted on the price chart, helping traders visualize trends and signals. They can be easily implemented using Pine Script, a language specifically designed for creating custom indicators on TradingView, to enhance your trading strategies.

Simple Moving Average (SMA)

The SMA is a widely-used indicator that smooths out price data by creating a constantly updated average price. It’s particularly useful for identifying trends over a specific period.

Example Implementation of SMA in Pine Script:

pine //@version=5 indicator(“Simple Moving Average”, overlay=true) length = input(14, title=”SMA Length”) sma_value = ta.sma(close, length) plot(sma_value, color=color.blue, title=”SMA”)

By default, the SMA length is set to 14 in this script, but users can customize this parameter as needed.

In this script:

@version=5 specifies the version of Pine Script.
indicator(“Simple Moving Average”, overlay=true) sets up the script as an indicator and overlays it on the main chart.
length = input(14, title=”SMA Length”) allows users to set the period length.
sma_value = ta.sma(close, length) calculates the SMA based on the closing prices.
plot(sma_value, color=color.blue, title=”SMA”) plots the SMA on the chart.

For beginners looking to understand more about writing their first TradingView indicator using Pine Script, this example serves as a great starting point.

Relative Strength Index (RSI)

The RSI is a momentum oscillator that measures the speed and change of price movements. It helps traders identify overbought or oversold conditions in a market.

Example Implementation of RSI in Pine Script:

pine //@version=5 indicator(“Relative Strength Index”, shorttitle=”RSI”, overlay=false) length = input(14, title=”RSI Length”) source = close rsi_value = ta.rsi(source, length) hline(70, “Overbought”, color=color.red) hline(30, “Oversold”, color=color.green) plot(rsi_value, color=color.purple, title=”RSI”)

In this script:

@version=5 specifies the version of Pine Script.
indicator(“Relative Strength Index”, shorttitle=”RSI”, overlay=false) sets up the script as an indicator with its own pane.
Setting overlay=false displays the RSI indicator in a new window below the main price chart.
length = input(14, title=”RSI Length”) allows users to set the RSI period length.
source = close uses closing prices as the source data.
rsi_value = ta.rsi(source, length) computes the RSI value.
hline(70, “Overbought”, color=color.red) and `hline(30

Creating a Trading Strategy

A trading strategy is a structured set of rules that guides when to enter and exit trades in the market. Having a well-defined strategy is crucial for consistent success, as it helps remove emotion from trading decisions and provides a clear framework for identifying opportunities. By systematically defining your approach, you can better navigate the complexities of the market and improve your overall trading performance.

Designing and Coding Your First Strategy

To design and code your first trading strategy, begin by identifying the specific market conditions you want to target. This includes selecting the financial instrument you wish to trade, choosing the appropriate timeframe, and assessing the prevailing market sentiment. Once these factors are defined, you can start creating entry and exit rules based on technical analysis tools such as moving averages, the relative strength index (RSI), or other custom indicators.

Using Pine Script on the TradingView platform, you can translate your strategy into a script that automates the process of identifying trading signals. Pine Script enables you to create complex strategies by combining multiple indicators and conditions, allowing for precise entry and exit points. You can also backtest your strategy using historical data, which helps you evaluate its effectiveness before applying it to live trades.

By leveraging the flexibility of Pine Script, you can develop strategies tailored to your trading style, whether you prefer short-term trades or longer-term positions. The ability to code and test your own strategies empowers you to adapt to changing market conditions and refine your approach over time.

Key Elements of a Trading Strategy Script

A robust trading strategy script typically includes several essential components:

Market Conditions: Clearly define the financial instrument, timeframe, and market sentiment you want to focus on.
Entry Rules: Specify the exact conditions under which a trade should be initiated, such as a moving average crossover or an RSI threshold.
Exit Rules: Determine when to close a trade, whether it’s based on a profit target, stop-loss, or a reversal in indicator signals.
Position Sizing: Set rules for how much capital to allocate to each trade, helping manage risk and optimize returns.
Risk Management: Incorporate stop-loss and take-profit levels to protect your account from significant losses and lock in gains.

You can further enhance your script by adding features like alerts and notifications, ensuring you never miss a trading opportunity. By thoughtfully combining these elements, you can create a comprehensive strategy that adapts to various market conditions and supports your overall trading objectives.

Backtesting a Strategy

Backtesting is a critical step in developing any trading strategy, as it allows you to evaluate how your approach would have performed using historical market data. By simulating trades based on past price movements, you can identify strengths and weaknesses in your strategy and make informed adjustments before risking real capital.

How to Backtest in Pine Script

TradingView offers powerful backtesting features that integrate seamlessly with Pine Script. To backtest your strategy, simply code your rules in the Pine Editor and apply the script to historical data on your chosen chart. The platform will automatically execute trades according to your strategy’s logic, providing detailed performance metrics such as profit and loss, drawdown, and Sharpe ratio.

For reliable results, it’s important to use a broad range of historical data, covering different timeframes and varying market sentiments. This ensures your strategy is tested under diverse conditions and is not overly optimized for a specific period. Pine Script makes it easy to adjust parameters and test your strategy across multiple scenarios, helping you identify which approaches work best for your trading style.

In addition to automated backtesting, it’s essential to conduct your own research and analysis. Review the strategy’s performance in different market environments, assess the risk/reward profile, and watch for signs of overfitting—where a strategy performs well on past data but fails in live markets. Combining backtesting with thorough research allows you to create, refine, and validate strategies that are both robust and adaptable.

By leveraging the backtesting features of Pine Script and TradingView, and supplementing them with your own analysis, you can confidently develop strategies that align with your trading goals and adapt to the ever-changing market landscape.

Limitations and Considerations When Working with Pine Script

Working with Pine Script on TradingView has some limitations that can affect your trading strategies. Understanding these limitations is important for setting realistic expectations and making the most of the platform.

Key Limitations:

Restricted Ecosystem: Pine Script only works within TradingView, so you can’t use external libraries or data sources. This can be a problem if you need specific market data or custom tools that TradingView doesn’t support.
Data Limitations: Some markets or assets have limited historical data, which can make it difficult to backtest and validate your strategies. You might not be able to analyze long-term trends accurately because of missing or restricted data.
Market Coverage: Not all markets are fully supported by TradingView, which could impact niche trading strategies.

Knowing these limitations will help you make better decisions about your trading strategies and how to use the platform effectively.

Enhancing Market Analysis with Indicator Scripts

Indicator scripts for TradingView offer traders a powerful suite of market analysis tools. By utilizing customizable indicators, you can tailor your market analysis to fit specific trading strategies and preferences.

Advanced visualization techniques provided by these scripts enable you to:

Identify trends: Utilize dynamic trend indicators to spot market direction changes early.
Analyze price action: Implement price action tools for a granular understanding of market movements.
Detect patterns: Use candlestick pattern recognition to anticipate potential reversals or continuations.

Customizable parameters in these indicators allow for fine-tuning, ensuring they align perfectly with your trading strategy. For instance, you can adjust the period length in a moving average indicator to better capture short-term or long-term trends.

Example: A trader might use an RSI indicator script to monitor overbought and oversold conditions, adjusting the threshold levels according to their risk tolerance.

Moreover, advanced visualization not only simplifies data interpretation but also enhances decision-making accuracy. By plotting multiple customized indicators on a single chart, you gain a comprehensive view that integrates various analytical perspectives.

Leveraging these customizable indicator scripts significantly augments your ability to conduct thorough and precise market analysis, ultimately leading to more informed trading decisions. Customizable indicator scripts play a crucial role in the decision making process by providing actionable insights that help traders respond effectively to changing market conditions.

Collaborating and Sharing Insights in the TradingView Community

TradingView offers a variety of collaborative features that enhance the user experience through shared insights. By publishing scripts, users can contribute to a growing library of indicators and strategies, allowing others to benefit from their expertise. These community-created indicators cater to various trading styles, from intraday trading to swing trading and long-term investing, ensuring that traders and investors with different approaches can find suitable tools. This collective knowledge base fosters an environment where traders can learn from each other.

Script Publishing

Publishing your scripts to the TradingView library is straightforward:

Pine Editor: Write and test your script within TradingView.
Publish: Share your script publicly or keep it private for personal use.
Feedback: Receive comments and ratings from other users.

Social Trading Functionalities

TradingView also supports social trading, which includes:

Public Ideas: Share your trading ideas and strategies with the community.
Follow Traders: Keep track of top traders and their latest scripts.
Discussions: Engage in forums and comment sections to discuss market trends and script functionalities.

These features facilitate collaboration, making it easier for you to refine your strategies and stay updated on market trends.

Using indicator scripts for TradingView offers many benefits, allowing traders to customize their market analysis tools and strategies. These scripts enhance your ability to interpret market data through:

Customizable parameters
Advanced visualization techniques
Access to a vast library of community-created indicators

The future potential of indicator scripts is promising. As Pine Script evolves, new functionalities and improved capabilities are likely to emerge. The active user community continues to drive innovation, contributing to an ever-growing repository of sophisticated indicators.

Engaging with this vibrant ecosystem not only enhances your trading strategies but also connects you with like-minded individuals, fostering a collaborative environment for continual learning and improvement.

What is TradingView and how does it benefit traders?

TradingView is a popular platform for traders that provides advanced charts, charting tools, social networking features, and a wide range of market analysis capabilities. It allows traders to share ideas, collaborate, and enhance their trading strategies using various indicators.

What is Pine Script and why is it important?

Pine Script™ is a domain-specific programming language designed for financial market analysis. It enables users to create custom indicators and strategies on TradingView. Its user-friendly syntax and built-in error checking mechanisms make it accessible for both novice and experienced traders.

How can I create custom indicator scripts on TradingView?

To create custom indicator scripts on TradingView, you can use the Pine Editor within the platform’s charting interface. A step-by-step guide will help you build your own indicators, with practical examples showcasing various types of indicators that can be created using Pine Script.

What are some commonly used technical indicators in Pine Script?

Two commonly used technical indicators are the Simple Moving Average (SMA) and the Relative Strength Index (RSI). These indicators can be implemented in Pine Script to assist traders in their technical analysis by providing insights into price trends and momentum.

Certain indicators, such as the Aroon indicator, help traders identify whether the market is trending or ranging.

What limitations should I be aware of when working with Pine Script?

When working with Pine Script, it’s important to consider the constraints imposed by TradingView’s ecosystem, such as limited access to historical data for certain markets or assets. These limitations may affect the development and functionality of your indicator scripts.

How does the TradingView community enhance the use of indicator scripts?

The TradingView community plays a significant role in driving innovation through collaborative script development. Users can leverage a vast library of community-created indicators, share insights, publish their own scripts, and benefit from social trading functionalities that foster collaboration among traders.

Additionally, the community offers an overview of the latest indicators and strategies, helping traders stay informed.

pineindicators.com
September 27, 2024

pineindicators.com

pineindicators builds and audits no-nonsense TradingView indicators in Pine Script v5. The focus: transparent logic, reproducible backtests, and statistically sound signal quality. Articles on PineIndicators.com document indicator design step-by-step—inputs, parameter ranges, benchmark sets, and failure cases—alongside walk-forward checks and risk metrics (CAGR, max drawdown, Sharpe, profit factor). Coverage spans momentum, mean-reversion, volatility filters, market structure, and risk management (position sizing, stop/exit logic, slippage/fees). Code examples are minimal, versioned, and explained line-by-line to make replication trivial. No hype, no curve-fitting: if an edge doesn’t hold out-of-sample, it’s shown as such. Specialties: Pine Script v5, TradingView strategy development, backtesting, indicator validation, data hygiene, and realistic execution modeling. Mission: publish indicators and methods that are simple to implement, testable, and honest about limitations. (Nothing here is financial advice.)

Indicator scripts for TradingView

$ 39.00 Original price was: $ 39.00.$ 29.00Current price is: $ 29.00. / month

2,596 %

17.3 %/Yr

81.5 %

7.643

Best for Gold

$ 59.00 Original price was: $ 59.00.$ 29.00Current price is: $ 29.00. / month

2,029 %

59.7 %/Yr

53.02 %

2.306

Best For Crypto

$ 79.00 Original price was: $ 79.00.$ 49.00Current price is: $ 49.00. / month

14,721 B %

402.7 %/Yr

41.73 %

3.214

$ 99.00 Original price was: $ 99.00.$ 59.00Current price is: $ 59.00. / month

261,530 %

69.8 %/Yr

47.92 %

1.716

$ 79.00 Original price was: $ 79.00.$ 49.00Current price is: $ 49.00. / month

396,794 %

77 %/Yr

47.6 %

1.505

$ 99.00 Original price was: $ 99.00.$ 69.00Current price is: $ 69.00. / month

119,359 %

52.4 %/Yr

65.84 %

2.825

$ 39.99 Original price was: $ 39.99.$ 19.99Current price is: $ 19.99. / month

83,042 %

63.15 %/Yr

100 %

10

$ 99.00 Original price was: $ 99.00.$ 69.00Current price is: $ 69.00. / month

23,497 %

59.8 %/Yr

56 %

1.479

$ 69.00 Original price was: $ 69.00.$ 39.00Current price is: $ 39.00. / month

12,482 %

38,18 %/Yr

69.57 %

4.722

Most Profitable | NIFTY

$ 79.00 Original price was: $ 79.00.$ 49.00Current price is: $ 49.00. / month

34,276 %

54.0 %/Yr

50.93 %

1.636

Table of Contents

Introduction

Key Points:

Understanding Pine Script

Key Features of Pine Script

Intuitive Syntax

Built-in Error Checking

The Power of Community-Developed Indicators

Using Community Indicators:

Creating Custom Indicator Scripts on TradingView

Step 1: Launch TradingView

Step 2: Access the Pine Editor

Step 3: Write Your Script

Step 4: Add Visual Elements

Step 5: Save and Apply

Practical Examples of Custom Indicators

Relative Strength Index (RSI)

Bollinger Bands

Implementing Technical Indicators in Your Scripts

Simple Moving Average (SMA)

Relative Strength Index (RSI)

Creating a Trading Strategy

Designing and Coding Your First Strategy

Key Elements of a Trading Strategy Script

Backtesting a Strategy

How to Backtest in Pine Script

Original price was: $ 39.00.Current price is: $ 29.00. / month

Original price was: $ 59.00.Current price is: $ 29.00. / month

Original price was: $ 79.00.Current price is: $ 49.00. / month

Original price was: $ 99.00.Current price is: $ 59.00. / month

Original price was: $ 79.00.Current price is: $ 49.00. / month

Original price was: $ 99.00.Current price is: $ 69.00. / month

Original price was: $ 39.99.Current price is: $ 19.99. / month

Original price was: $ 99.00.Current price is: $ 69.00. / month

Original price was: $ 69.00.Current price is: $ 39.00. / month

Original price was: $ 79.00.Current price is: $ 49.00. / month