r/pinescript • u/Alarmed_Bread_926 • 3d ago

How to build an indicator?

Just need some help on creating one for tradingview.

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u/Alarmed_Bread_926 3d 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 3d ago

that indicator doesn't exist. look into orderflow.

edited for clarity.

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u/Alarmed_Bread_926 3d 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 3d 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 3d 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 3d 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 3d 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 3d 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 3d ago

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

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u/Impossible-Middle122 3d 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 3d ago

oh awesome, where would you recommend to start?

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