Over the past year, #artificialintellegence has become a part of our daily lives. We now have applications that greatly simplify our lives, such as content creation, researching specific topics, and website development, among others.
After several years of developing trading strategies based on price action validated by a few indicators, I decided to utilize ChatGPT as an expert in Pinescript and asked it to develop something based on indicators that confirm my position trading strategy.
Throughout the process, I requested several visual changes until I found one that had a reasonable psychological effect. Since no indicator is 100% infallible and none of them take into account social and economic factors, what I wanted was not a signal to buy or sell, but rather an indication that we might be entering a reversal phase. The screen would turn orange to signal that I could begin considering placing long-term buy orders in case of a potential uptrend or red in case of a possible downtrend reversal.
How I use this indicator
I primarily use this indicator for Bitcoin due to its higher market capitalization, as well as for some assets in the traditional market. However, it can also be used for other assets with smaller timeframes, although other factors need to be taken into account in those cases.
When and where it works
It was developed to capture major bull market and bear market movements in the primary cryptocurrency market, considering its market capitalization since 2017. If the market's capitalization becomes significantly higher due to increased adoption, I will have to make some adjustments. Nevertheless, I am prepared for that and will take the necessary steps when the time is right.
Where to find it?
You can find this indicator, which I named "Pos_winsetpro," at https://encurtador.com.br/yOXZ1 and add it to TradingView.
We can conclude
Artificial intelligence has the potential to revolutionize the application of #tradingStrategy , facilitating the work of traders. With its capabilities in large-scale data processing, machine learning, and predictive analysis, AI can quickly analyze a wide range of information, identify patterns, and uncover hidden trends in financial markets. Moreover, AI can execute operations at high speed, carrying out trades based on sophisticated and precise algorithms. This enables traders to benefit from actionable insights and make informed decisions with greater efficiency and confidence. By automating routine tasks and providing real-time analysis, AI also allows traders to allocate more time to strategy development and long-term decision-making. However, it is important to remember that AI does not completely replace the human role. Traders still play a fundamental part in interpreting results and adapting strategies to the constantly changing market conditions. By integrating artificial intelligence into their trading practices, traders can position themselves more competitively in the financial market, maximizing opportunities and reducing risks associated with their operations.
I wish you all good profits in what could be the biggest bullrun ever!