Building Custom Trading Indicators with Pine Script

TradingView's Pine Script is a powerful language that allows traders to create custom technical indicators and strategies. In this guide, we'll explore how to build your own indicators from scratch.

Why Custom Indicators?

While TradingView offers hundreds of built-in indicators, custom indicators allow you to:

• Combine multiple indicators into one view
• Implement unique trading logic
• Backtest your specific strategies
• Get alerts on custom conditions

Getting Started

Pine Script uses a syntax similar to Python. Here's a simple example of a moving average indicator:

//@version=5
indicator("Simple Moving Average", overlay=true)
length = input(14)
ma = ta.sma(close, length)
plot(ma, color=color.blue, title="SMA")

Common Indicators You Can Build

Here are some popular custom indicators to build:

• RSI Divergence - Identify hidden divergences between price and RSI
• Moving Average Crossovers - Multiple timeframe analysis
• Volume Profile - See where most trading occurs
• Bollinger Band Squeeze - Detect potential breakouts

Advanced Techniques

Once you're comfortable with basics, you can explore:

• Using request.security() for multi-timeframe analysis
• Creating your own strategy with strategy.entry() and strategy.exit()
• Drawing labels and lines on the chart
• Implementing machine learning predictions

Conclusion

Custom indicators give you a significant edge in trading. Start simple, test thoroughly, and iterate on your ideas. Our Indicators tool can help you calculate and visualize various technical indicators for any asset.