Without the right trading tools, you can’t conduct effective technical analysis. A strong trading strategy will help you avoid common mistakes, improve your risk management, and increase your ability to identify and take advantage of opportunities.
For many, TradingView is the go-to charting platform. Offering a hub of technical analysis tools, the powerful HTML5 web application is used by millions to track movements in the Forex, cryptocurrency, and traditional stock markets.
TradingView has many powerful features: it allows us to track assets across numerous trading platforms and to publish trading ideas within its social network. In this article, we’ll focus on its customizability. We’ll be using Pine Script, TradingView’s own programming language, which grants us granular control over our chart layouts.
Let’s get started!
What is Pine Script?
Pine Script is a scripting language that can be used to modify your TradingView charts. The platform already equips you with many features to do so, but Pine Script allows you to take it a step further. Whether you want to change the colors of your candlesticks or to backtest a new strategy, the Pine Editor will enable you to customize your real-time charts as you see fit.
The code itself is excellently documented, so be sure to check out the user manual for more information. Our goal in this tutorial is to discuss some of the basics and introduce indicators that can come in handy for cryptocurrency trading.
It’s incredibly simple to get started with Pine Script. Any code we write is run on TradingView’s servers, so we can access the editor and develop our scripts from a browser – without any additional download or configuration required.
In this tutorial, we’re going to chart the Bitcoin/Binance USD (BTCBUSD) currency pair. If you don’t have one already, go ahead and create a free account (there’s a pro subscription available, too, but it isn’t necessary for this guide).