TradingView is a web-based charting package and trading social network of millions of traders and investors using the world's best charts and analysis tools to spot opportunities in global markets. You can use TradingView to follow your favourite assets, find trading ideas, chat with others, spot trends, and place trades directly on the charts.
If you don't already have an account on TradingView, you can use our referral link to register for a paid plan and receive a discount.
To follow along in this guide, the basic (free) plan is enough to start with. The basic plan comes with a single server-side alert, which is sufficient for setting up the alerts for this strategy, but note that you won't be able to automate it, as automation requires access to webhooks, which the basic plan doesn't have.
TradingView allows you to apply Technical Analysis (TA) indicator scripts (studies) and strategy scripts onto charts. You can think of these scripts as plugins to the platform.
Historically, people used indicator scripts to get alerted to trade setups and strategy scripts to backtest how those indicators have performed. For example, if you wanted to trade using an EMA Crossover trading strategy, you had to have a separate EMA Crossover indicator script (to set up the alerts on) and an EMA Crossover strategy script (to backtest how the signals from the indicator have performed).
With recent improvements to the strategies, a strategy script can pretty much do everything an indicator script can. Because of this, there is no need to use indicators scripts anymore, just strategies.
Anyone who knows how to program, specifically the Pine Script language, can write indicator or strategy scripts. To try, open a chart and click on the Pine Script button at the bottom to bring up the code editor.