TradingView does offer some data (mainly Quandl data) in this category but it is limited at this time. Some strategies involve economic or statistical data. But if your strategy involves trading obscure markets, price data may not be available. Granted, TradingView has a very comprehensive database of data feeds. The main reason why you wouldn’t want to use Pine script is that you’re limited to the TradingView universe.ĭata – If TradingView does not offer the data you’re after, you’re out of luck.
License strategies to hedge fund (while you keep the IP) via QuantConnect’s Alpha Stream. Backtest and trade a wide array of asset classes and industries ETFs (data provided by QuantConnect). Create strategies based on alpha factors such as sentiment, crypto, corporate actions and macro data (data provided by QuantConnect). QuantConnect is a browser-based backtesting and algo trading platform. An alternative to consider is QuantConnect. Also, in some cases, someone else may have already written the code for what you’re after. Having access to open-source code is a great way to learn from other programmers. TradingView has a plethora of data available at your fingertips, ready to access with as little as one line of code.Įasy to Learn – Pine script syntax is readable and simpler than other programming languages.Īlso, you don’t have to spend much time on error checking and handling as TradingView takes care of most of that for you.Įxtensive user base and library – TradingView users have the option to publish their indicators and strategies to the TradingView library. Not only does that mean you have to find a place to grab your data from, but you’ll also then have to format it in a certain way and this whole process can be time-consuming. 
Testing strategies or creating indicators in other languages involves sourcing your own data. Pine script code can be created within Pine editor which is a part of TradingView’s online charting platform.īuilt-in Data – This is a big one. It is not based on any particular language, but if you’ve used Python, you’ll tend to pick it up quickly and notice similarities. Pine script was designed to be lightweight, and in most cases, you can achieve your objectives with fewer lines of code compared to other programming languages. Pine script is a programming language created by TradingView to backtest trading strategies and create custom indicators.
How can I create a custom indicator with Pine script?. How to modify our scripts without coding?. 
How to fire a trade on Apple when Google moves 5%?. How to set take profits and stop losses?. 
How to backtest a moving average cross strategy with Pine Script?. How to retrieve the SMA(20) of Apple in Pine script?. How to retrieve the price of Apple in Pine script?. What are the alternatives to using Pine script?. This article has been updated for Pine Script V5.
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