zwp
Pine Script Scholar
Pine Script Scholar
Posts: 9
Joined: September 18th, 2021
Contact: TradingView Profile

Recommended trading set up - automation vs. manual

Hi Guys, One very basic question.
How would you recommend to trade using Pine Script.

e.g.
Best option (use always when available): create strategy --> test --> connect with your account and let it run automatically
Second best option (use only if Best Option not available): create strategy --> test --> create alerts and trade manually

Would you agree, or would you recommend to do it differently.
thanks!

dusktrader
Pine Script Scholar
Pine Script Scholar
Posts: 32
Joined: February 24th, 2021
Contact: TradingView Profile

Re: Recommended trading set up - automation vs. manual

Depends on your trading style. For example you could have your script only look for setups, then alert you to review those setups (and allow you the choice to take the trade or not)

Or you could work to build a fully-automated bot - that's what I'm working on. In that case, you would create your script to very carefully identify all of the orders that should occur, and then send these as alerts. Alerts sent from TradingView can be processed by automation in several ways: you could send a webhook to a thirdparty service (or if you have your own webhook receiver); or you could integrate a middleware tool like AutoView or ProfitView - these run on your computer alongside TradingView and intercept the alerts coming from TradingView.

zwp
Pine Script Scholar
Pine Script Scholar
Posts: 9
Joined: September 18th, 2021
Contact: TradingView Profile

Re: Recommended trading set up - automation vs. manual

Thanks @dusktrader I would like to go for as much automation as possible. Working full time it might be difficult to respond on all alerts in time and/or I might miss some opportunities on lower time frames.

dusktrader
Pine Script Scholar
Pine Script Scholar
Posts: 32
Joined: February 24th, 2021
Contact: TradingView Profile

Re: Recommended trading set up - automation vs. manual

Totally agree with your logic here. I am also working fulltime, so I specifically designed my latest work to accommodate that schedule. So for me that meant higher timeframe trade style (I chose 4hour), and full automation. This has worked pretty well. I do feel confident during the day when the tradebots take action - I feel confident that I don't have to race over and check on them right away (and frequently cannot due to day job demands). But I do focus on them regularly every day. I study every trade and determine whether or not the logic needs to be adjusted (ie, if it took correct action or not). Sometimes I struggle with one thing for days on end. But keeping focus has worked well for me.

zwp
Pine Script Scholar
Pine Script Scholar
Posts: 9
Joined: September 18th, 2021
Contact: TradingView Profile

Re: Recommended trading set up - automation vs. manual

Super good. thanks for sharing your experience. Will do the same!

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