Customization: By learning Pine Script, traders can create their own custom indicators and strategies that are tailored to their specific trading style and needs. This level of customization is not possible with the pre-built indicators available on TradingView.
Competitive edge: Having the ability to create custom indicators and strategies can give traders a competitive edge over others who are using pre-built indicators. Traders who can create their own indicators and strategies can identify unique trading opportunities that others may overlook.
Saves time: Learning Pine Script can also save time in the long run. Instead of manually calculating and analyzing market data, traders can create scripts that automatically perform these tasks, freeing up time to focus on other aspects of trading.
Better understanding of technical analysis: By learning Pine Script, traders can gain a better understanding of how technical indicators work and how they can be used to analyze financial markets. This knowledge can help traders make more informed trading decisions and improve their overall trading skills.
Community support: TradingView has a large community of traders who share their Pine Script code and offer support to others who are learning the language. This community can be a valuable resource for traders looking to learn Pine Script and improve their trading strategies.
In conclusion, while learning Pine Script may seem like a daunting task, the benefits of being able to create custom indicators and strategies, gaining a competitive edge, saving time, improving technical analysis skills, and having access to community support make it a worthwhile investment for traders who are serious about their craft.
How to combine Indicators?
Why pay attention to crypto derivatives data?
I hope you’ll enjoy my collection of trading notes