Customize TradingView Scripts with ChatGPT
How to Merge Indicators and Create Trading Strategies on TradingView Using ChatGPT
Creating a profitable strategy on TradingView doesn’t have to be complicated, even if you’re not familiar with coding. By using ChatGPT, traders can easily merge indicators, set automated buy/sell conditions, and optimize their strategy based on performance metrics like Winrate and Risk-Reward Ratio. Here’s a simple guide to walk you through the process.
Step 1: Combine/Merge Indicators
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Copy the scripts of the two indicators you want to merge from TradingView.
Paste the scripts into Input 1 and Input 2 (or paste the same indicator script twice if you want to merge just one).
Click Run to generate the merged script.
Copy the merged script to use in the next steps.
Step 2: Copy Your Script from TradingView
Now, open TradingView and go to the Pine Editor tab at the bottom of the chart. Select and copy the script of the indicator or strategy you want to customize. Whether you’re working with a moving average crossover, RSI strategy, or another indicator, this will serve as the foundation for your modifications.
Step 3: Paste the Script into ChatGPT
Once you’ve copied the script from TradingView, open ChatGPT. Paste the script into the ChatGPT text box, and it will analyze the code. This helps you identify the variables, buy/sell conditions, and logic behind the strategy.
Step 4: Customize the Merged Script with ChatGPT Prompts
After combining the indicators, use the following ChatGPT prompts to customize your TradingView script further. This will allow you to tailor the script to your specific trading needs, whether you’re working with forex, crypto, or stocks.
Sample Prompt:
Prompt 1: Understanding Buy/Sell Conditions
Prompt 2: Basic Buy/Sell Orders
Prompt 3: Buy/Sell Orders with Risk-Reward Ratio (RR)
- Prompt 4: Trailing Stop-loss for Dynamic Exit
- Prompt 5: Add Trend and RSI Conditions
- Prompt 6: Sideways Market Condition (Bollinger Bands)
Paste the prompt into ChatGPT along with the merged script, and ChatGPT will provide detailed code adjustments to meet your strategy’s requirements.
Step 5: Implement Your Custom Strategy on TradingView
Once ChatGPT has provided the customized code, copy the modified script and paste it back into the Pine Editor on TradingView. Test the strategy by running it on your preferred chart to evaluate performance. You can fine-tune the strategy by tweaking conditions like stop loss, take profit, or specific indicator thresholds.
Prompt 1: Understanding Buy/Sell Conditions
Start by asking ChatGPT to analyze the buy/sell conditions in your script. This helps you understand the logic behind the strategy and the role of key variables.
Reading Comprehension:Understand the variables involved in Buy/Sell conditions.
Explain the logic of Buy/Sell conditions using these variables.
Find out where in the script the conditions for buying or selling are described.
In these conditions, which variables appear, and what are their meanings?
Key Variables in Buy/Sell Conditions: Explanation of the variables and the Buy/Sell conditions.
Summary:
This prompt helps ChatGPT break down the mechanics of your current strategy, making it easier for you to make adjustments later.
Prompt 2: Basic Buy/Sell Orders
Once you understand the variables, you can start customizing your basic buy/sell orders. Use this prompt to convert your indicator into a strategy with simple entry and exit conditions
- Basic Buy/Sell Orders:Use the function below to create a strategy based on the indicator above, while maintaining the buy and sell conditions along with the associated variables.
Change indicator() to strategy().
if Buy condition:
strategy.entry(“Buy”, strategy.long)
strategy.close(“Sell”)if Sell condition:
strategy.entry(“Sell”, strategy.short)
strategy.close(“Buy”)
This will allow ChatGPT to transform your indicator into a fully functional strategy by adding trade entries and exits.
Prompt 3: Buy/Sell Orders with Risk-Reward Ratio (RR)
To refine your strategy further, add a Risk-Reward Ratio (RR) to manage your trades. This is crucial for traders who want to manage risk and set take-profits and stop-losses automatically.
- Buy/Sell Orders with Risk-Reward (RR):Use the function below to create a strategy based on the indicator above, while maintaining the buy and sell conditions and the associated variables.
Change indicator() to strategy().
RR = input.float(defval = 2, title = “RR”)
if Buy condition:
stoploss = low
entry = close
takeprofit = RR * (entry – stoploss) + entry
strategy.entry(“Buy”, strategy.long)
strategy.exit(“Exit Buy”, “Buy”, limit=takeprofit, stop=stoploss)if Sell condition:
stoploss = high
entry = close
takeprofit = entry – RR * (stoploss – entry)
strategy.entry(“Sell”, strategy.short)
strategy.exit(“Exit Sell”, “Sell”, limit=takeprofit, stop=stoploss)
By using this prompt, ChatGPT will adjust your script to include risk management tools, enhancing your forex or crypto strategy.
Prompt 4: Trailing Stop-Loss for Dynamic Exit
For traders looking to add dynamic exit conditions, including a trailing stop-loss, this prompt allows you to make your exit strategy more flexible.
- Buy/Sell Orders with Trailing Stoploss:RR = input(2.0, “Risk-Reward Ratio”)
trail_offset = input(50, “Trailing Stop Offset (Points)”)
if buy_condition:
stoploss = low
entry = close
takeprofit = RR * (entry – stoploss) + entry
strategy.entry(“Buy”, strategy.long)
strategy.exit(“Take Profit Buy”, “Buy”, limit=takeprofit, stop=stoploss, trail_offset=trail_offset)if sell_condition:
stoploss = high
entry = close
takeprofit = entry – RR * (stoploss – entry)
strategy.entry(“Sell”, strategy.short)
strategy.exit(“Take Profit Sell”, “Sell”, limit=takeprofit, stop=stoploss, trail_offset=trail_offset)
This will let ChatGPT help you build a strategy that trails stop-losses, locking in profits as the market moves.
Prompt 5: Add Trend and RSI Conditions
By incorporating trend filters such as EMA and RSI into your strategy, you can enhance precision. The following prompt allows you to specify trend-based conditions for your entries and exits.
- Adding Trend and RSI Conditions:Trend: Below/Above EMA
Add `close < EMA` to the Sell condition and `close > EMA` to the Buy condition.RSI:
Add `RSI > 80` to the sell condition and `RSI < 20` to the buy condition.
Add `RSI < 80 and RSI > 50` to the sell condition and `RSI > 20 and RSI < 50` to the buy condition.
These conditions help refine your strategy, ensuring trades only occur in the direction of the overall trend or when the market shows overbought or oversold signals.
Prompt 6: Sideways Market Condition (Bollinger Bands)
Lastly, to avoid entering trades in a sideways market, use the following prompt to add Bollinger Band conditions to your strategy.
- Sideways Market (Bollinger Bands):Add the following condition to the buy/sell criteria to determine when the market is sideways:SidewayRatio = input
(UpperBand – LowerBand of Bollinger Bands) < math.abs(close – open) * SidewayRatio
If the market is sideways, do not buy or selllength = input.int(20, minval=1)
maType = input.string(“SMA”, “Basis MA Type”, options = [“SMA”, “EMA”, “SMMA (RMA)”, “WMA”, “VWMA”])
src = input(close, title=”Source”)
mult = input.float(2.0, minval=0.001, maxval=50, title=”StdDev”)ma(source, length, _type) =>
switch _type
“SMA” => ta.sma(source, length)
“EMA” => ta.ema(source, length)
“SMMA (RMA)” => ta.rma(source, length)
“WMA” => ta.wma(source, length)
“VWMA” => ta.vwma(source, length)basis = ma(src, length, maType)
dev = mult * ta.stdev(src, length)
upper = basis + dev
lower = basis – dev
offset = input.int(0, “Offset”, minval = -500, maxval = 500, display = display.data_window)
plot(basis, “Basis”, color=#2962FF, offset = offset)
p1 = plot(upper, “Upper”, color=#F23645, offset = offset)
p2 = plot(lower, “Lower”, color=#089981, offset = offset)
fill(p1, p2, title = “Background”, color=color.rgb(33, 150, 243, 95))
This ensures that you avoid false signals in sideways or ranging markets, keeping your strategy focused on trending conditions.