I used Chat GPT 4 to create an MT4 indicator in 15min!

cool so I thought you know everybody's talking about chat GPT and I've been using it for a few months actually um and so I thought do you want to see something really cool um so uh what I'm going to do in this video is show you basically for those of you who know nothing about check TPT or how it can be used can it give you a quick bit of exposure to it and to show you why it is so cool so effectively uh for those of you not familiar with it chat GPT is just effectively a robot it's an AI that you can have a conversation with similar to the idea of Google where you could just go and search and say you know search into Google say where do I find this or what I do and Google will do its best to find that information for you except the difference is that in this particular case it won't provide you with a list of other websites where you can go find the answers it'll extract the data that it has and try to write you or provide you with an actual answer and that's the broad kind of idea it's almost if you've ever seen the Marvel movies that's all similar to kind of Jarvis in the Marvel movies where it's almost a virtual assistants it's incredible it is absolutely worthwhile just being aware of it and it's very exciting to see the kind of developments so one of the things I want to show you today is well how as a Trader could I take advantage of it I'm going to show you something here that was very cool that I wanted to have a go with uh and uh and so let's let me show you kind of what my idea is so when I'm looking at a charger one of the things that I want the ability to do potentially is to highlight Possible Trading setups that might occur so I've got a simple 50 period moving average a simple 20 and a simple 10 period moving average now generally speaking when they're in this formation where I've got price then the 10 20 and 50 then it is generally bullish and in the other order here when it's in a downtrend lower highs low lows I have price below the 50 20 and 10 in that particular formation it's bearish so what I would like to do to create an indicator that will highlight these uh potential setups so generally speaking when there's a trend I would look to join the trend from within the moving averages in this area between the 10 and the 20 in this area I'd like to be notified that there's a setup on any time frame and look to potentially then qualify a setup so all I'm going to do here the idea is because I'm not a programmer the idea here is that I would ask chat jpt to help me write creates an indicator that would at least highlight a potential setup that I can then go ahead and qualify a little bit further so that's what I'm going to do here okay so we're going to reorder this and then hopefully I can do that sorry my nose is a bit itchy um and so let's go across to the setup and have a look okay so the other thing that's really exciting is that a particular version came out yesterday so it's called gpt4 it's smarter more complex essentially okay it can do more things we're going to have a a go uh with it today so what I want to do is to describe to it what I want it to do for me okay so uh I would so I'm going to just say here that I would like to uh create an indicator and I'm gonna in this case I'm gonna specify that I want this for in T4 okay uh and I'm going to tell it what I would like it to do okay so I want to create a indicator for mt4 that um and so I'm gonna I'm gonna describe what I wanted to do uh users so I'm going to start by saying users the simple let's say simple moving averages and in fact I'm going to be more specific the 10 20 and 50. simple moving averages to determine because again like Google it depends on the quality of your question to determine the trend and then I can go down and give it examples if price is above the 10 20 and 50. and specifically let's say the 10 and 20 moving averages moving averages I tell you what I'm going to do I'm going to pause the recording write it out and then take you through it because otherwise you'll be like I'm not typing fast enough and I'm going to bore you today for them okay so this is what I've settled on I said look I want to create an indicator for nt4 that identifies candles that are located between the 10 and 20 simple moving averages first thing I wanted to do then I say look let's call this area between the 10 and 20 moving averages the zone so that's clever because I'm helping myself there I've abbreviated I want to kind of talk about an idea so I've just I've said to it look this is the idea I want to create a custom term that I'm going to use so let's call this the zone then we use the order of the 10 and 20 and 50 simple moving averages to determine the trend if the 10 and 20 are above the 50 moving averages let's call it bullish if the 10 and 20 moving averages are below the 50. moving average it's considered bearish I want to now identify bullish candlesticks in an uptrend with green arrows in the zone and I want to identify bearish candlesticks in that area in a downtrend with red arrows that's pretty much it so I'm not a programmer but that is kind of what I wanted to do now I understand the beauty of this is that to a larger degree it's kind of forgiving if you kind of explain it and you're not quite sure what to do you might be amazed how close it gets to what you want but you might have to adjust it a little bit you might have to tweak it um and so I'm going to go with that so this is the thing right this thing can code in different languages let's see what happens so it's just going to go ahead and print that code now while it is doing that I'm going to go to my platform and so while it's doing that I'm going to go to the platform in the background I'm going to go here to the folder where it's going to be and let's just go ahead I'm going to go through to the indicators folder through my which is where you normally would create stuff so there's a whole lot of default indicators that come with the program that I've been applied and I'm going to go ahead and I'm going to create one so the suggestion was that I can use the suggestion if I want the suggestion was to call it this so I'm going to call it that okay so I'm going to copy that so I'm going to call it the Zone indicator it's still writing the code and I'm going to go to that folder and I'm going to create a new text document text document this is it and I'm just going to replace that file by putting the extension on in Windows it's I'm doing this on Windows 11 it's going to know it's going to ask me are you sure you want to change the uh the extension of the file which is going to convert it from a text file into an executable file well not a compiled executable but just an executable so it's created the indicator here now when I double click on it it's going to open this up in the editor that comes with mt4 that is where we can create the code so basically it's an empty file there's nothing in it I'm going to just close all these other ones there that are just other ones I've been playing with bringing this across so we'll just bring this across here and I'm going to just maximize that so there's no content in this file there's nothing in it but what I'm going to do is when it's finished writing the code I'm going to copy that code across let's just go back to this save the file restart the mt4 terminal and this is the code okay um so what I'm going to do here is go up to the top and I'm just going to say copy the code okay so that should be enough for me to go back to this paste the code in here so this is the code that it's produced for me and now what I'm going to do is compile it so if everything goes well there won't be any compilation errors it'll work compile fine so there's zero errors which is pretty cool and it's compiled it now I could just save it if I want to I'm just going to say save it or it's saved effectively already now what I'm going to do is go across to the uh to back to the platform and I'm just going to refresh the two ways you can do this you can hit refresh or you can restart the mt4 platform so I'm going to refresh it here and I am going to go look for whatever we call that it was the zones the zones it was called the zones there we go the Zone indicator and just a little observation would often when it's gray there's a little gray dot that means it's either out of date the code might be out of date so the code might not work so if it's colored like this if it's nice and gold same color as that it actually means it's already gonna work so I'm going to drag and drop this onto the chart and it brings it up the Zone indicator and that's it I remember because I just needed it to highlight stuff I kept it very simple I could go back now give it the code and ask it to add certain features obviously the more complicated it gets the more possibility there is that it's going to create code bugs but in theory you could just keep going and testing it so check this out there we go okay so it is highlighted these bullish candlesticks so let's go and have a look so it's highlighted all these red candlesticks in this Zone uh and it's also highlighted a bit so those are bullish candlesticks but it's highlighted candlesticks you know what I've just remembered something as well it's highlighted green candlesticks in the zone it's highlighted everything in that so I'm going to go back and tell it to make sure that it highlights bullish candlesticks in the buy Zone and bearish candlesticks in the cell zone so let's go back to it this is pretty cool so let's go back to that um and I'm going to say update the code to make sure make uh sure that only bullish candlesticks sticks are highlighted in uptrends let's say or uh in in no no let's try uptrends and bearish candlesticks sticks are highlighted in downtrends okay I've note I've got uptrends and downtrend so let's see what it says let's see what it does now and then it goes to update the code so that's interesting so now what should happen is uh uh is that it should then go ahead and correct that so I just thought that was pretty cool um and I wanted to share this with you I want to see what that updated thing is so let me kind of pause this and we'll jump ahead when it's done and then we'll see if it's different okay so here we are it's added two new variables is bearish Candlestick and so on so let's see if this one works a little bit better and sometimes it might be a case of just going back to the original thing getting recreating it from scratch but effectively it's going to do its best of what you tell it to do so let's go back let's copy the code I'm going to put it I'm going to replace it I'm not going to put it into the same file I'm going to compile this no errors should be there and let's go back to the platform and let's see if this one is different so it should be I'm going to just go here into the indicators delete this the Zone indicator delete that so they're gone uh just zoom out a bit and go back and refresh this refresh it and let's go back and have a look at the Zone the fact that it gave it a name um there we go let's have a look and see if it's better okay there we go so this this works a lot better so there we go let's um take these off so we can move along now you can see it's only highlighted the bearish candlesticks in that area which is phenomenal I'm sorry but this is being a non-coder that is just outstanding there's a couple where I think I would have liked it to highlight this candle that was a good setup uh and I can probably make it more complex more sophisticated would be the right word not complex um but it's been pretty good A couple of losing trades over here which actually that wouldn't trigger that would be a losing trade majority of these should have gone on they are not bad seems to have missed the setup here that would have qualified um and so probably there's different ways I could go about and expand it but I just wanted to show you how cool that was a broad overview that I got this thing to write me an indicator that I couldn't have done on my own anyway and I did it in we're here about 12 minutes so it's pretty cool I hope you guys found this instructive and useful and hopefully this is the only the beginning this is going to make a huge difference to uh to everybody in all walks of life not just Traders but I wanted to show you everyone's talking about this it's a buzz thing how can we use it how can it be practical here you go that's it so uh there we go enjoy

Channel: Adam Harris- London City Trader #tradeallmarketz

Views: 18,620

Keywords: Technical Analysis, FOREX markets Analysis, BITCOIN Analysis, EURUSD Analysis, ADVANCED TECHNICAL ANALYSIS, HOW TO ANALYSE A CHART, TRADE WITH PRECISION, PROREALTIME, The Week Ahead, stock charts technical analysis, stock market trading, MT4, MetaTrader 4, MQL4, Custom Indicator, Trading Strategy, ChatGPT, OpenAI, AI-Assisted Trading, Moving Averages, Trend Identification, Forex, Stocks, Algorithmic Trading, Trading Education, New Traders, Intermediate Traders

Id: oI99Ntyulsg

Length: 13min 19sec (799 seconds)

Published: Wed Mar 15 2023