I Made My Own AI Trading Bots & Indicators - Copy This (Free & Easy)

Summary

This video demonstrates how to create and optimize custom trading indicators and strategies in TradingView using AI, without any coding experience. The presenter shows how to build tools like moving averages, pivot points, engulfing candle patterns, and momentum indicators with AI assistance. By crafting detailed prompts for AI models like Claude, Deepseek, and O1, users can develop tailored solutions, debug errors, and backtest strategies in minutes. The process empowers traders to create highly personalized tools for price action analysis, saving both time and money while making smarter trading decisions.

Takeaways

• 😀 AI makes building trading bots and indicators accessible to everyone, even without coding experience.
• 😀 The process involves creating a starting prompt for your AI assistant to guide it in developing custom trading tools.
• 😀 Providing specific context about your trading preferences (markets, timeframes, risk tolerance, etc.) helps the AI create more tailored and effective tools.
• 😀 AI can help modify existing TradingView code (like EMA or Pivot Points) with simple instructions, saving time compared to traditional methods.
• 😀 You can test and implement new indicators directly in TradingView’s Pine Editor by pasting AI-generated code and adding it to your chart.
• 😀 Even complex indicators (e.g., high-volume engulfing candles or momentum indicators) can be created with the AI by defining simple conditions.
• 😀 AI allows you to create and optimize trading strategies by specifying entry and exit conditions, and these strategies can be backtested immediately.
• 😀 Backtesting results can be used to refine and improve strategies, quickly identifying areas for enhancement or adjustments.
• 😀 Trading bots and custom tools can help identify market trends and make data-driven decisions based on price action and volume, rather than relying on generic indicators.
• 😀 The AI's ability to automate the creation and optimization of trading tools saves time and reduces the reliance on costly external programmers.

Q & A

How can someone with no coding experience create trading bots in TradingView?

By using AI tools such as Claude AI on the Poe app, users can instruct the AI to generate Pine Script 6 code for custom indicators and strategies, without any programming knowledge.

What is the first step in creating a custom trading bot with AI?

The first step is crafting a clear and detailed prompt that turns the AI into a trading assistant, specifying expertise in trading and coding, particularly in Pine Script 6 for TradingView.

Why is it important to provide your AI assistant with your trading preferences?

Providing details like preferred markets, timeframes, risk tolerance, and trading style helps the AI tailor indicators and strategies specifically to your approach, making its suggestions more accurate and personalized.

What are some simple indicators you can start with using AI in TradingView?

A good starting point is modifying basic indicators like exponential moving averages (EMA) to include visual cues, such as color changes when the price moves above or below the EMA.

How can AI help modify indicators for different timeframes, such as pivot points?

AI can adjust the standard indicator code to calculate levels on different timeframes, like converting daily pivot points to hourly pivot points, giving traders more granular insights for intraday trading.

What makes high-volume engulfing candle indicators useful?

These indicators combine candlestick patterns with volume analysis, highlighting significant market moves and potential reversal or continuation points, validated by actual trading activity.

How does the custom momentum indicator measure price action strength?

It sums the body sizes of bullish and bearish candles over a set look-back period, providing a momentum score that shows which side is dominating and predicting potential market moves.

What strategy was created using the momentum indicator and SMA filter?

The strategy enters long trades when bullish momentum crosses above bearish momentum while price is above the 100 SMA, and short trades when bearish momentum crosses above bullish momentum while price is below the 100 SMA, aligning trades with the trend.

How do daily boxes and ADR indicators enhance trading decisions?

Daily Boxes visually track daily highs and lows, helping identify support, resistance, and order flow, while the ADR indicator measures daily volatility, allowing traders to gauge whether there’s room for further movement and set realistic targets.

What is the key advantage of using AI for creating trading tools today?

AI drastically reduces development time from weeks to minutes, allows for customization tailored to individual trading styles, and provides an educational experience by helping traders understand how indicators and strategies work.