ChatGPT Trading Strategy Example for TradingView

hey guys in today's video let's see if we can get chat GPT to create a trading view strategy for us that will help to take the subjectivity out of our trading so yeah please create a trading View strategy and uh this part is important you gotta specify that you want a strategy and also specify the version number version 4 that will buy with the 5 EMA crosses of the 8 EMA make the em is adjustable as well as the profit and loss targets uh in percent ages okay so we got an error so let's just copy that and if refresh okay so let's paste that and now it comes up with the input look correct profit condition loss condition yeah it should work let's copy the code so we go to Pine editor save it okay so we have saved it and now let's add it to our chart again error cannot compile the script okay so let's copy and paste the error okay this will give us an updated version okay let's copy there we can expand this a bit let's delete and save it okay so as you can see here it's created a strategy for us that is 100 profitable but with a pretty massive drawdown right so um we can then look at the list of Trades it's taken so it when it's far back as 2020 so maybe we should specify um the trading period The Limited a bit more and so between 2020 and 2022 it was 100 profitable which uh as you all know no such trading strategy is 100 profitable uh least of all of five eight EMA cross and then let's change some settings so let's recalculate after every order is filled and uh right so if you have a base capital of 100K and uh let's say every trade is 10 kusd well we would have made around 6.8 K in profit with a drawdown of 3.4 so it's almost 50 drawdown right with an average of 40 bars in the trade yeah so that's Apple what if you were to change it to something like uh Forex AUD USD Maybe in this case only seven traits for a 700 profit there was a maximum drawdown of 1.8 K so I guess what's happening is keeping positions open uh longer than they should so the stop loss isn't getting triggered as it should be but but I hope um yeah you see how useful chat GPT is when it comes to um creating strategies that you can then back test and yeah be careful if things do look too good to be true uh I will go edit this edit this strategy to see how I can make it more realistic and whether it's um it's still good to be put in use after it's more realistic so I'll see you guys in the next video bye bye

Channel: Ctrl-Shift-Run

Views: 718

Keywords: chatgpt, trading, tradingview

Id: -y_BbOVx1lw

Length: 5min 27sec (327 seconds)

Published: Tue Mar 07 2023