How to Auto-Trade Through TradingView & MetaTrader • PineConnector Guide 💻 (Part 5) [PSv4]

How to Auto-Trade Through TradingView & MetaTrader • PineConnector Guide 💻 (Part 5) [PSv4]

hi traders and welcome back to another
pine connector
pan script lesson in today's video we
are going to be automating
another profitable trading strategy
script using trading view alerts
i hope you're as excited as i am to get
this script going
so the script we are automating today is
one that i wrote
or created in a previous lesson during
my auto view series there will be a link
in the video description to that lesson
if you want to go back and watch how and
why i created the script the way i did
i'm not going to be going into too much
detail about the actual
code behind how we detect our
signals as i already went over that
during the autoview lesson so if you
want to learn how this script works make
sure to go back and watch that lesson
in today's lesson we're just going to be
adding pi connector functionality
to this script so it already is
automated through autoview
today we're going to be adding pi
connector automation
and as always there will be a link in
the video description to the pine
connector website where you can start
your seven day free trial
and seven days should be plenty of time
for you to get this script automated
and the previous follow the bear
strategy script that we wrote in the
previous lesson
automated through pine connector and
then you can decide whether or not you
want to
subscribe to the service which is really
cheap it's only 15 bucks a month which
considering what it does for your
trading is
quite remarkable if you're an active
trader you're almost certainly paying
more than that
in commission costs it's a very
justifiable expense
if you're interested in automating your
forex trading
but anyway that's enough about that
let's get started with the lesson
before we begin adding the pi connector
code to this script there's a little bit
of housekeeping we need to do
first of all i've tidied up the settings
code a little bit
i've added these var variables and if
you're not familiar with the var
operator this basically just means that
this variable
gets initialized on the very first bar
on my chart and then
so long as i don't change it it stays as
this string
if i were to get rid of the var operator
then this variable would be regenerated
on every single bar on my chart
which is unnecessary it's good practice
to use the var variable
when dealing with variables in your
script that do not change
as well as obviously when you need them
to be persistent across
multiple bars such as our stops and
targets here you can see that these
lines draw across all the bars in our
chart until they are hit
by price action we achieve that using
var variables as well
so anyway i've tidied up the settings
menu i haven't added any new settings
since the previous lesson when we
initially wrote the script
the final thing i need to do before we
can go ahead and start adding
our pi connector code is to fix all
these warnings so the first warning here
says the function two whole should be
called on each calculation for
consistency
the reason we're getting that error is
because this function is being called
within the scope of an if statement
and obviously this if statement isn't
going to be true on every single bar in
our chart
and so pinescript is warning us that
whatever this function does
could be inconsistent or generating
inconsistent results i wish there was a
way to suppress this warning because
this particular function we wrote it
doesn't matter that it's
inconsistently executed it doesn't need
to be executed on every single bar
if this was an atr function or an rsi
function or something like that
you do need it to be calculated on every
single bar
but for this function we don't need that
but anyway just because i don't like
seeing warnings
in our script i'm going to extract this
whole
function call here and create a
temporary variable here called temp
underscore position size
and i'm just going to set that to this
custom function and then i'm going to
paste
the temp position size variable into our
trade position size
var variable so basically we've just
extracted
the function from the scope which is
what it says here it is recommended to
extract the call from the scope
that's what we just did there now if i
save the script we'll get one less
warning but before we do that let's come
down to our valid short
here and do the same thing so i'm going
to put temp position size and then i'm
just going to overwrite this
variable we created up here with the
same code
so paste that in there copy that down
there
and that will fix our function warnings
here so if i say the script
you can see those warnings are gone but
we still have three more warnings here
regarding the trans
argument which is the transparency
parameter in our plots
since writing the script and releasing
the previous video regarding the script
the trading view team have changed how
pine script works and we can no longer
or we should no longer use the trans
argument as it will be deprecated soon
meaning
unsupported so we need to use the
color.new function
instead and that's easy enough to fix
let me come down to where we use
transfer i have to scroll a bit here
and we need to get rid of this trans
parameter and change our color
parameter to look like this color dot
new open bracket
color dot red comma zero
and then close off that parenthesis so
now we're generating a new
red color with a zero percent
transparency if i do this to all of our
plots here
get rid of that change this to color.new
color.green comma zero
and then we also have one on line 62 our
filter color we have to do the same
thing here get rid of transf
change this to color.new color.red
comma 70 for 70 transparent
now if i say the script will have no
errors and we can move on to
writing out our pine connector code
there we go
the script has reprocessed with no
errors so
let's move on to writing our pi
connector code
now if you haven't watched the previous
videos in this power connector series i
would suggest you go back and do that
because i have designed this series to
build on each lesson so each lesson
builds on the previous lesson and so if
you get lost at all during this lesson
make sure you go back and watch those
videos
for example for today's video i'm
basically just going to copy and paste
all the code i wrote in the previous
lesson where we automated
the follow the bear profitable forex
strategy i'm going to copy and paste
that code into this script
and then adapt it to make sure that it's
compatible with the way that this script
detects
its entry patterns because remember the
previous script only traded to the short
side
this script trades both short
and long so short trades long trades
so we need to make sure the script can
handle that but first let's
copy the code from that script so for
this i'm just going to write ftb
strategy whoops and
this one here on the public library is
one that i published
to trading view we can just click on
that that will always contain the
up-to-date code
sorry if you can hear that my cat is
whinging in the background wants to go
outside but he can't because i'm busy
um so all we need is
all of this code here so from pi
connector settings down to where we
generate our pi connector alert
string we want to copy all of this code
and then paste this into this script
so probably the best way let me hide
this strategy first of all
probably the best way to manage this
would be to move our awanda settings
our auto view settings below our filter
settings
and then i think that'll be a little bit
more intuitive so what i'm going to do
here is just paste this code in here
our pi connector code is now in the
script and i'm going to cut
the order view settings code and paste
that in above the pi connector code
so now if i save the script this should
compile without any issues
there we go and if i open up the
settings menu here
we now have our order view settings
and our pi connector settings so this
script can be automated through autoview
or through pi connector so whichever
service third-party api system that the
trader
who uses this script prefers they can
use either of them
but before they can do that we need to
add our pi connector alert code to this
script so
let's uh open up the source code to the
ftb
script come down here to where we
generate our alert string
i'm going to copy this code here go
back to our hammers and stars strategy
and scroll down to where our signals are
detected
under valid long and valid short and now
we need to do a little bit of
formatting our alerts based on what the
user has selected
so first of all i'm going to comment out
this code just for now because we should
first add a setting for the user to
select which version or which api that
they want to use
so um i'll do it like this i'm going to
just copy this line of code here and
paste that in there
and change this to say use auto view
and i'll leave it off by default let's
change the tool tip
to say turn this
on to use auto view alerts
then we need to change the variable name
to let's just call it auto view
and then i'm going to copy this line of
code down
underneath our pine connector settings
change this to say
pine connector and
change this to say pine connector and
change
this to say pine connector
and this needs to be underscore pc
so now we have two new settings here use
auto
view or use pan connector and we'll use
these
booleans in order to determine which
alert string to generate to send to the
web hook
so let's open up the settings come down
here
and now we have this setting here use
order view
and use pine connector
now obviously you can't use both at the
same time because you can only specify
one web hook you could set up two alerts
to use both at the same time but the
script needs to prioritize one of these
over the other when our signals are
detected so let's come back down to
where
valid long and valid short is and let's
write out
our code for generating the string
to send to the webhook so i'm going to
cut
all of this autoview code out here
i'm going to move that down i'm going to
say
generate auto view
alert syntax and then i'm going to paste
that string in here and we'll just call
this
av underscore alert equals and then
let's add this
down here and i can move that there now
let's save the script to make sure this
works there we go that's working fine
so now we also need to generate
pine connector alert syntax
now that's going to be a lot simpler
since we generated a custom
function for doing this so for this i'm
going to say pc underscore alert
equals and then just cut this code down
there
and there we go so now we are generating
both order view and pi connector alerts
obviously i need to change this to say
buy since this is our long trade
detection
and now we're good to go let me just
bring all of this code up
and all we need to do now is
tell this alert function which string to
use so for this i'm going to say
uh auto view question mark
if auto view is turned on then we want
to send the av alert
otherwise we will check pine connector
question mark if pi connector is turned
on then we'll use pc underscore alert
and then if neither pi connector or auto
view is turned on we'll just send a
blank
string or we'll put in here
hss long alert
so if the user doesn't want to use
either
apis and they want to manually trade
this system
or this strategy if i save the script
here this should compile hopefully
without any issues
there we go so if the user comes up to
the settings menu
and selects hss i can remove this
ftb script now yeah if the user comes up
here and selects hss
and then selects alert function calls
only
if they haven't turned on pi connector
or order view
then when this alert generates the text
will say
hss long alert if however they have
turned on
one of these so let's say they want to
use pi connector
they need to tick this box click ok then
set their alert up as alert function
calls only
and then set up the web hook to send
this alert to pi connector if i were to
create this alert now
whenever a long setup is detected on the
daily chart here on euro yen
our pi connector alert syntax would be
sent to pine connector
and it would automatically place a long
trade with our stops and targets and
position size as we've set it up in the
settings
and metatrader if we have it running and
pi connector
correctly set up will automatically
handle that trade execution for us so
that's pretty much it all we need to do
now is copy all of this code
down into our short setup detection
code so first of all i'm just going to
comment this to say
send alert to webhook
and then i'm going to copy all of this
code here
and paste it over the top of this code
here
change this to say short and this to say
cell
and we're done obviously i need to
change this as well
to say short alert and now the script
will be fully automated both on autoview
and pine connector
so whenever a setup is detected if we've
set up our alerts correctly
and selected alert function calls only
and put the correct webhook url in here
either for pi connector or autoview
actually orderview doesn't use a webhook
url
it is a browser plugin that
detects the alert text in the alerts log
so you can see here that i actually had
an alert generate this morning
on euro yen for this script that i have
running on autoview
the script that i have up doesn't have
the
ema filter on it so if i remove that ema
filter we did have a valid hammer set up
here
on euro yen i'm still optimizing this
strategy
and i think i'm going to change the way
i trade it i've been playing around with
the various filters that we have here
and i think that the 20 ema
filter is ideal for many of these forex
pairs it works on
over half a dozen of them on this daily
chart so again if you want to understand
how this
strategy works and why it's profitable
and how i personally trade it
and the story behind it make sure to go
back and watch the order view
version of this lesson where i actually
write out all of this code
in real time for you and explain in
detail
what it all does today's lesson is just
about adding power connector
functionality to this script
and we have now achieved that quite
simple once you've written out the code
it's pretty much
just a matter of copy and pasting it and
adapting it to your
personal strategy code and as you can
see this
is quite a profitable strategy over the
long term
this has taken 153 trades with the 20
ema filter
and had a 61 win rate uh with a one to
one target
1.2 also works quite well on this
strategy
we still have nearly a 60 win rate even
with that slightly higher reward
to risk profile so i would encourage you
to play around
with all of these filters
your stop-loss atr and your filter
settings can dramatically
change the dynamics of this script it's
profitability it's win rate it's max
drawdown
all of that so if we change
our stop loss to half an atr you can see
we generate more trades
but our win rate goes down slightly and
don't forget to back test
this strategy before you trade it if you
do decide to trade it this is all to be
used at your own risk
i'm not a financial advisor i don't know
your financial situation
and so it is up to you as always to do
your own due diligence
back test this script to see how it
performed over the past
um however many years if i go back
this script has back tested since
technically may of 2002 but
back then for whatever reason oanda
doesn't have wicks on their candles
so really it didn't start back testing
until
january of 2005. but considering that is
16
years worth of price data i am very
comfortable trading this
script on these markets even though
historical performance
is not indicative of future performance
obviously
we don't know the future i think that
the odds of this
particular strategy losing its edge over
the markets
anytime soon are pretty slim i think
this
particular approach to trading these
markets will work
into the future at least for the next
few years
obviously over time most edges
deteriorate but this one has done quite
well
over the past 16 years and if you want
to you can play around with the start
date and end date filter
to see how performed in recent years so
let's change this to 2000
and let's say january of 2015
till now you can see that it's still
profitable even in recent times
anyway i'll leave that with you to go
and test there's a lot of markets that
this is profitable on
i won't tell you them all because it
will take me too long
it is profitable on gold as well so keep
that in mind it may be
even profitable on some of the other
commodity markets i haven't tested them
myself
so i don't trade those markets at the
moment uh it was also profitable on
bitcoin
as well but awanda doesn't have a lot of
bitcoin data
i hope you enjoy using this script it's
a great strategy it's super low
maintenance
it doesn't generate a lot of signals but
being a daily chart strategy
you only need to check your charts once
per day and it's completely automated as
well which is pretty cool
you could just set this up on metatrader
set up a virtual private server which i
will show you
how to do in one of my next videos if
you don't want to leave metatrader
running 24 7 on your
home computer you can rent a private
server from amazon
it's very cheap in fact it's free for
the first year i believe
i'll leave a link in the video
description to my order view
version of setting up the virtual
private server because the steps to get
the server running
are identical the only difference
obviously is that for pi connector you
will need to have metatrader running
on that server whereas for auto view you
need to have your chrome browser open
for it to work anyway that'll do it for
today's lesson thanks for watching guys
thanks for your time i hope you found
this valuable
if you did make sure to hit the
subscribe button i will be back
very soon with a new video in the
meantime if you want to learn more about
panscript i have my panscript mastery
website at panscriptmastery.com there's
a free course over there and a couple of
other paid courses that
go into a lot more detail about this
awesome scripting language
if you're new to pinescript the mastery
course is perfect
for you it will teach you everything you
need to know in order to write scripts
like this one here and if you're an
experienced
pan scripter you might be more
interested in my
indicators and strategies course which
is a bit more expensive but it
does have a lot more valuable content in
here
in terms of just straight up value you
can copy and paste
the source code to all of my profitable
strategy scripts
and every indicator i've ever written i
have video lessons
breaking down the source code to every
single script here
including a bunch of profitable
strategies and a few more that i'm
working on
so if your experience with panscript
this
course might be more valuable to you
than the mastery course i have sunk
thousands of hours of coding into these
scripts
so that you don't have to you can just
copy and paste the source code and if
you're curious about how
i wrote the script or why i did what i
did in the code there are video lessons
explaining each line of code in these
scripts anyway i'll leave it there
thanks for watching guys and girls
take care and i'll see you in the next
video i hope you have a great week in
the meantime
goodbye
you