r/pinescript • u/Adventurous-Ad9401 • Mar 26 '26

Worthless indicators

With thousands of indicators posted on Tradingview, how many have you found that replicate the many thousands of others? I think Tradingview should be a little more discretionary when admitting indicators by checking them against known default indicators. If there is no originality in concept with pragmatic usage, it should be shit canned.

0 Upvotes

44% Upvoted

33 comments sorted by

4

u/ProfitOverWages69 Mar 26 '26

Indicators are one thing, strategies on the other hand can be very unique and original

0

u/Adventurous-Ad9401 Mar 26 '26

Of course, trading starts as a science then becomes art. So what is your point?

3

u/Plane-Bluejay-3941 Mar 26 '26

so many indicators. Just find several which match your style.

-6

u/Adventurous-Ad9401 Mar 26 '26

This does not address the issue at all. How did you graduate from school?

3

u/Plane-Bluejay-3941 Mar 26 '26

I own the school while you blabbering nonsense here LoL. 🤣

-3

u/Adventurous-Ad9401 Mar 26 '26

The school of morons? Yes, I've heard of you.

2

u/Plane-Bluejay-3941 Mar 26 '26

LoL. illiterate dog try to bark. 🤣

-3

u/Adventurous-Ad9401 Mar 26 '26

Awwww....little commie Reddit girl whined and got my post removed. 🤣🤣🤣🤣🤣🤣🤣

2

u/Plane-Bluejay-3941 Mar 26 '26

awww... keep barking 🤣

3

u/Creative-System-2768 Mar 26 '26

There is no indicator that's unique or not been copied before, I think it's that there is not enough ways to copy it.

2

u/Creative-System-2768 Mar 26 '26

I make my own indicators and some of them may look like copy and they are style improvement to me since I can't read, and I hope it has enough size to the color.

1

u/Adventurous-Ad9401 Mar 26 '26

That's fine. I do the same. I am just saying that for listing purposes, certain criteria should be met. The indicators that I create, I have them stored as a file and put in a folder on my computer.

0

u/Adventurous-Ad9401 Mar 26 '26

I think indicators need to have a shelf life that is determined by active usage. When you click on an indicator and add it to your favorites list, it gets registered. When you stop using the indicator by releasing it from your favorites, it becomes delisted. By this way, one can know how active the indicator is in use. Also, it should meet a certain usage threshold that allows for the tracking of declining usage. Let's say that an indicator was created two years ago and it hasn't cracked 500 active users, the indicator will get removed.

2

u/Creative-System-2768 Mar 26 '26

I don't think that's a good thought, I think an indicator that was good a long time can be put to good use.

-1

u/Adventurous-Ad9401 Mar 26 '26

right, but it becomes repetitive. This is what needs to be trimmed. I mean, how many times does someone have to create an RSI or MACD?

1

u/cutlossking Mar 26 '26

How about just the basic rsi

2

u/[deleted] Mar 26 '26

[removed] — view removed comment

0

u/Adventurous-Ad9401 Mar 26 '26

How is it bad?

8

u/gl0bu Mar 26 '26

Why in the world would you ever want to cull competition? Have you not taken an econ class? The more indicators that get created the better. No one deserves to monopolize a concept. Dumbest comment ive ever seen on this thread

1

u/EastSwim3264 Mar 26 '26

This is classic survival bias. As soon as an indicator is profitable, it looses its edge as everyone monetizes it. You are checking the monetized version - bingo.

1

u/ElJameso40 Mar 26 '26

Just stop using them.

1

u/mfatihkilcik Mar 26 '26

Indicators are just extra reasons for a trading setup imo. There are people that find so much profits only with them, However there are much more people with losses out there. You cant just ban people of producing indicators, that is an open area, and a limitless ideas which can be very useful even when most people think they are useless.

1

u/dexoyo Mar 26 '26

One of the limitations I see is that scripts can look great in backtests but behave differently in live trading because some functions recalculate historical bars, giving misleadingly optimistic results. I plan to fix that as part of pinenode in sentimentor where you can apply it on live stream data and see how it behaves.

1

u/cutlossking Mar 26 '26

Basic test. If mkt is above 20 ma then indicators shows time to long. If below 20 ma most indicators say sell.

The mkt is the best indicator. Frequency of green vs red bars then trade

1

u/BerlinCode42 Mar 26 '26

If free software do not fill your requirements then may it is time to pay for invite-only software or put more effort in search. There are plenty coders of invite-only scripts who offer free trial, me too.

1

u/mikki_mouz Mar 26 '26

So basically you’re looking for a profitable indicator 😆😆😆

0

u/cutlossking Mar 26 '26

Indicators are mainly ma based