Skip to main content

How I Started Making Money with Pine Script Trading Strategies

· 4 min read
Pineify Team
Pineify Team

So you want to know about making money with Pine Script? I get it. When I first discovered TradingView's scripting language, I was skeptical too. Could I really automate my trading decisions and stop staring at charts all day? Turns out, yes - but there's definitely a learning curve.

What Actually Works in Pine Script Strategies​

After months of trial and error (and some painful losses), here's what I've learned makes the difference:

You need crystal clear rules. I can't stress this enough. When I started, I'd create strategies with vague conditions like "buy when it looks good." That's a recipe for disaster. Now I use specific triggers - like when the 50-day moving average crosses above the 200-day, AND the RSI is above 40. No guesswork.

Stop losses aren't optional. I learned this the hard way. My first strategy looked amazing in backtests until one bad trade wiped out weeks of gains. Now every strategy has built-in stop losses and take profits. I usually set stops near support levels and take profits near resistance - basic stuff, but it works.

Visual cues save your sanity. Trust me, when you're looking at multiple charts, you want those buy/sell arrows screaming at you. I also change the background color when conditions are met. Makes everything so much clearer.

Backtest everything. I mean everything. What looks good on a daily chart might be terrible on a 4-hour chart. Test different timeframes, different assets, even different market conditions. The numbers don't lie.

The Best Pine Script Generator

Strategies That Actually Put Money in My Pocket​

Moving Average Crossovers (My First Win)​

This was my gateway drug into Pine Script. Super simple concept - when a short-term average crosses above a long-term one, prices usually keep going up. I use the 20 and 50 EMAs mostly.

But here's the thing everyone misses: add an RSI filter. I only take signals when RSI is above 40. This simple addition cut my false signals in half. Seriously.

Pullback Trading (My Current Favorite)​

This one took me a while to understand, but now it's my bread and butter. The idea is catching those little dips in an uptrend before price continues higher.

I draw Fibonacci retracements and wait for price to bounce off the 38.2% or 50% levels. Then I look for a break back above the 20 EMA. It's like buying the dip, but with actual rules.

RSI Extremes (Simple but Effective)​

When RSI drops below 30, things are usually oversold. When it pops back above 30, I buy. Reverse for selling at 70.

The trick is combining it with trend direction. I only buy RSI oversold signals in an uptrend. Going against the trend is how you lose money fast.

Mean Reversion (For Range-Bound Markets)​

Sometimes markets just chop around. When that happens, I use MACD and Stochastic to find when price has moved too far from its average.

The goal is simple: buy low, sell high, repeat. Works great when markets aren't trending strongly.

How I Actually Build These Things​

Start with paper. Before I touch any code, I sketch out exactly what I want the strategy to do. What triggers a buy? What triggers a sell? Where's my stop loss?

Code it step by step. Pine Script isn't that hard once you get the hang of it. I usually start with the basic entry conditions, then add the risk management stuff.

Make it visual. I plot everything - entry points, exit points, stop losses. If I can't see what's happening at a glance, the strategy is too complicated.

Test like your money depends on it. Because it does. I run backtests on at least 2 years of data, multiple timeframes, different market conditions. If it only works in bull markets, it's not a real strategy.

Tweak and improve. No strategy is perfect on the first try. I'm constantly adjusting parameters - maybe the RSI threshold should be 35 instead of 30, or maybe I need a longer moving average.

Set up alerts. Once I'm confident in a strategy, I set up alerts so I don't have to watch charts all day. Life's too short for that.

The bottom line? Pine Script can definitely help you make money, but it's not magic. Start simple, test everything, and be patient. My first profitable strategy took me three months to develop. Now I can whip up a new one in a weekend.

The key is finding what works for your trading style and sticking with it. Don't chase every new indicator or strategy you see online. Master the basics first.