TradingView Pine Script guide: code your own Forex strategies

TradingView’s Pine Script is a powerful yet beginner-friendly programming language that allows traders to create custom indicators and strategies for forex, stocks, and cryptocurrencies. Whether you’re a beginner or an experienced trader, Pine Script enables you to design personalized technical analysis tools tailored to your trading style.

In this guide, we’ll cover:

1. What is Pine Script?
2. Setting up Pine Script in TradingView
3. Basic syntax and structure
4. Creating a simple Forex indicator
5. Backtesting and optimization
6. Tips for advanced Pine Script development
7. + Best Forex brokers to start trading

What is Pine Script?

Pine Script is TradingView’s proprietary scripting language designed for:

• Building custom technical indicators
• Creating automated trading strategies
• Modifying existing indicators
• Performing backtests

It is lightweight, easy to learn, and integrates seamlessly with TradingView’s charting tools.

Setting up Pine Script in TradingView

To start coding in Pine Script:

1. Open TradingView and log in.
2. Open a forex chart (e.g., EUR/USD).
3. Click on the “Pine Editor” tab at the bottom of the screen.
4. A script editor will appear where you can write and test your code.

Basic Pine Script syntax and structure

Every Pine Script indicator follows a basic structure:

//@version=5
indicator("My Custom Forex Indicator", overlay=true)

// Inputs
length = input(14, title="MA Length")

// Calculations
ma = ta.sma(close, length)

// Plotting
plot(ma, color=color.blue, linewidth=2)

Key components:

• //@version=5 – Specifies Pine Script version (latest is v5).
• indicator() – Defines the script as an indicator.
• input() – Allows user customization (e.g., moving average length).
• ta.sma() – Built-in function for Simple Moving Average.
• plot() – Displays the indicator on the chart.

Creating a simple Forex indicator

Let’s build a Moving Average Crossover indicator for forex trading.

Step-by-step code:

//@version=5
indicator("MA Crossover Forex Indicator", overlay=true)

// Inputs
fastLength = input(9, title="Fast MA Length")
slowLength = input(21, title="Slow MA Length")

// Calculations
fastMA = ta.sma(close, fastLength)
slowMA = ta.sma(close, slowLength)

// Plotting
plot(fastMA, color=color.blue, title="Fast MA")
plot(slowMA, color=color.red, title="Slow MA")

// Crossover Signals
buySignal = ta.crossover(fastMA, slowMA)
sellSignal = ta.crossunder(fastMA, slowMA)

// Plot Signals
plotshape(buySignal, style=shape.triangleup, location=location.belowbar, color=color.green, size=size.small, title="Buy")
plotshape(sellSignal, style=shape.triangledown, location=location.abovebar, color=color.red, size=size.small, title="Sell")

How it works:

• The script plots two moving averages (fast and slow).
• When the fast MA crosses above the slow MA, it generates a buy signal (▲).
• When the fast MA crosses below the slow MA, it generates a sell signal (▼).

Backtesting and optimization

To test the effectiveness of your indicator:

1. Click on the “Add to Chart” button in the Pine Editor.
2. Go to the “Strategy Tester” tab at the bottom.
3. Adjust parameters (e.g., MA lengths) and analyze performance metrics (win rate, profit factor).

Example backtest modification:

strategy("MA Crossover Strategy", overlay=true)

if (buySignal)
    strategy.entry("Buy", strategy.long)
if (sellSignal)
    strategy.entry("Sell", strategy.short)

Tips for advanced Pine Script development

• Use functions for reusable code – Organize calculations into functions.
• Add alerts – Use alertcondition() for trade notifications.
• Optimize for speed – Avoid complex loops for better performance.
• Explore built-in libraries – Pine Script has many built-in functions (e.g., ta.ema(), ta.rsi()).

Pine Script is an excellent tool for forex traders who want to create custom indicators without deep programming knowledge. By mastering basic syntax, leveraging built-in functions, and backtesting strategies, you can enhance your trading edge.

Top 5 FX and CFD brokers with TradingView integration

If you’re using TradingView’s Pine Script to create custom indicators, you’ll want a broker that directly integrates with TradingView for seamless trading. Below are the best brokers that support TradingView trading, along with their key features.

BlackBull Markets

✅ TradingView Integration: Yes (Direct chart trading)
✅ Regulation: FMA (New Zealand), FSA (Seychelles)
✅ Instruments: Forex, commodities, indices, Cryptos
✅ Spreads: From 0.0 pips (ECN Account)
✅ Minimum Deposit: 0 (Standard), 200 (ECN)
✅ Pros:

• True ECN execution (no dealing desk)
• Trade directly from TradingView charts
• Free VPS for algorithmic traders

Exness

✅ TradingView Integration: Yes
✅ Regulation: FCA (UK), CySEC (EU), FSA (Seychelles)
✅ Instruments: Forex, metals, Cryptos
✅ Spreads: From 0.0 pips (Raw Spread Account)
✅ Minimum Deposit: $1
✅ Pros:

• Unlimited leverage (for professional traders)
• Instant withdrawals
• Trade directly on TradingView

OANDA

✅ TradingView Integration: Yes
✅ Regulation: CFTC/NFA (US), FCA (UK), ASIC (Australia)
✅ Instruments: Forex, indices, commodities
✅ Spreads: From 0.6 pips (EUR/USD)
✅ Minimum Deposit: $0 (No minimum)
✅ Pros:

• Trusted since 1996 (highly regulated)
• Seamless TradingView trading
• Advanced MetaTrader 4/5 support

HF Markets

✅ TradingView Integration: Yes
✅ Regulation: FCA (UK), CySEC (EU), FSCA (South Africa)
✅ Instruments: 1,200+ (Forex, stocks, commodities)
✅ Spreads: From 0.0 pips (Zero Account)
✅ Minimum Deposit: $5
✅ Pros:

• Copy trading and PAMM accounts
• Trade directly from TradingView
• Free VPS for automated trading

XTB

✅ TradingView Integration: No (But has xStation 5, similar to TradingView)
✅ Regulation: FCA (UK), CySEC (EU), KNF (Poland)
✅ Instruments: 2,100+ (Forex, Stocks, ETFs, Cryptos)
✅ Spreads: From 0.1 pips (EUR/USD)
✅ Minimum Deposit: $0
✅ Pros:

• Free trading courses & webinars
• No commission on Forex
• User-friendly xStation 5 platform

Related articles:

• Top 5 brokers that support TradingView

• Best MetaTrader 4 Forex brokers | The best picks for trading

• The best MetaTrader 5 brokers: Top platforms for Forex and CFD trading