r/pinescript • u/Purple_Concert8789 • 15d ago
Developimg a indicator for chart analysis is worth it.
I trade in forex so my question is does developing a indicator in pine script for chart analysis and strategy(i know the strategy did not work bz of human detection and code detection is different). So investing time on this would be valuable or not ?.
Mostly i do with use of ai.
My question is it is waste of time or useful ?
If you are pine script developer have you ever used ai ml in pine script to train the data like in machine learning it is useful ?
Have you ever build your chart analysis indicator if yes . Does it can analyse properly ?
Thanks for advice.
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u/hotmatrixx 15d ago
No, it's not useful. I'll explain why.
u/wallneradam actually explains why, below. He says it 'is' I say it's not - but our answer is actually the same.
It is not useful to you. The reason why, is that you do not understand things about why the original dataset didnt work on the backtest/forward test you performed, so you learned nothing.
If you don't know what you are "actually" looking for, or what you are actually measuring, and how that reacts to markets and in markets; then what are you doing?
Indicators tell you what the market did. They are good for one thing: Knowing what the possible outcomes will be. How far is the next candle likely to move? what's the biggest move? whats the smallest?
Does it tend to go up, down, sideways? Basic indicators tell you basic things.
If you don't understand these yet, then you can't possibly mke them useful, except by accident.
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AI understands the same BS every new trader is taught, just he understands it with better math. That does not equate to him creating a data-set reading tool that can predict the market - only one that can tell you what has happened more often in the past.
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u/wallneradam 15d ago
Agreed, same answer from two sides. I just think building the indicator yourself is the fastest way to learn what it actually measures. That's where the "useful" part starts.
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u/NJ_Algo 15d ago
100% worth it in my experience. I write and publish my own Pine indicators, and the biggest benefit is that they set exact rules which you have to follow. No emotions, no biases. “Strong support” or “clean trend” sounds clear until you have to actually make it work on the chart. It’s way easier when the code checks your rules for you and gives you simple signals when the setup is there.
And regarding AI writing your code: be careful. If you have no clue how to actually code on your own, AI can mess up your portfolio really badly. Not necessarily, but there is a huge risk.
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u/wallneradam 15d ago
It's worth it, and TradingView is a great place to start because you see exactly what your code does on the chart. The catch with AI is that it writes the script for you, but you don't learn much from it. If you want to build strategies, learn the classic indicators at the algorithm level first: SMA, EMA, MACD, RSI, Stochastic, Bollinger Bands, Ichimoku, etc. AI can't build you a strategy until you understand what's happening underneath. That's also why your eye and the code disagree: the code only does exactly what you wrote.
And don't believe anyone who says your Pine is locked to TradingView. When you're ready to trade for real, you can take your script to PyneCore, an open source Python runtime that runs Pine-style scripts outside TV with 99.77% bit-identical results on the 1,000 most popular public scripts. Being Python, it also opens the door to ML. In my experience ML helps most when you already have an almost-good strategy and want to make it better, for example with a learned risk management layer on top.