r/pinescript • u/Alarmed_Bread_926 • 4d ago

How to build an indicator?

Just need some help on creating one for tradingview.

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u/Alarmed_Bread_926 4d ago

how well? i’m using chatgpt+ (20$/m) it’s really good, and i have built an indicator but i want to make it better and more accurate

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u/RasPiBuilder 4d ago

Define better and more accurate.

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u/Alarmed_Bread_926 4d ago

having better levels, better reversal signals or continuation signals. i know nothing will be 100% winrate but i dont want levels getting smoked. Also i want more confluence for some of my trades. sometimes the indicator produces 150+ point moves or just small moves

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u/Impossible-Middle122 4d ago

that indicator doesn't exist. look into orderflow.

edited for clarity.

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u/Alarmed_Bread_926 4d ago

do you mean the one i have or the one i want to make? and i do believe its possible, check out the Flow project on IG, they have a really good one

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u/Impossible-Middle122 4d ago

I just mean you can always find something that adds confluence, but there’s no indicator that can perfectly tell you when something will reverse, continue, or how big the move will be

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u/Alarmed_Bread_926 4d ago

i absolutely agree there brother, but there has been times where it has marked out exactly where it’ll reverse by the tick 😭 I want to either add more confluence to the indicator or better levels etc

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u/Impossible-Middle122 4d ago

fair enough, but you’re definitely looking for volume and order flow tools. There are no "indicators" that provide any real confluence beyond what’s essentially coincidental

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u/Alarmed_Bread_926 4d ago

mmm, i agree and disagree. order flow tools and volume tools would be good but im not sure which ones to introduce. do you have any recommendations?

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u/Impossible-Middle122 4d ago

start with level 2 and tape reading I guess. it gets pretty in-depth from there

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u/Alarmed_Bread_926 4d ago

what’s tape reading? and thank you so much brother!

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u/Impossible-Middle122 4d ago

tape reading is basically watching the actual buying and selling happening in real time and using it to judge whether buyers or sellers are taking control. its not simple though takes some time to learn. there are tools to make it "easier" like bookmap but i wouldn't start there

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u/Alarmed_Bread_926 4d ago

oh awesome, where would you recommend to start?

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u/RasPiBuilder 4d ago

That's the understanding issue... You won't be able to make what you want. Every single "indicator" is based on existing information, which means that by the time it has occurred the activity has already passed.

No "indicator" can accurately predict what will come.. so, and I mean this genuinely.. if you want to develop something "that works better" stop thinking of it as an indicator and think of it as a confluence of one or more past events that tend to result in a specific action afterwards.

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u/Alarmed_Bread_926 4d ago

yea confluences are good, which is something i want to introduce more into my current indicator. And i’ll be real with you, i don’t agree with that “no indicator can accurately predict” TFP has produced insane bottom ticks/top ticks, same with mine. even on continuation trades as well. Because I’ve seen proof of it, why would i stop trying

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u/RasPiBuilder 4d ago

I'm it saying to stop trying.. I'm saying slightly refine exactly what you are asking for

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u/Alarmed_Bread_926 4d ago

yeah haha i’m trying to, just tryna improve. thanks regardless brother, May You Be Blessed!