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Want to learn Pine Script? Look no further. I have you covered!
With over 15 years of coding experience and 4+ years of trading experience, I specialize in TradingView's Pine Script programming language and I'm here to pass on everything I've learned about both trading and coding.
This lesson demonstrates how you can use Pine Script to create a regime filter. A regime filter is an indicator that analyzes a major index or market leading asset class, and tells you when the overall market is "healthy" or "unhealthy".
For example - maybe it turns green when the S&P500 is above a key moving average, and when it's green you trade other stocks in the S&P500 universe to the long side only.
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▼Timestamps▼
00:00 - Intro & Overview
01:43 - Getting User Input
02:20 - Define Custom Security Function
04:44 - Get Regime EMA Value
05:42 - Check Regime Filter
06:35 - Change Indicator Background Color
07:15 - Explanation & Examples
10:18 - Improving The Filter
10:39 - More Examples
13:45 - Conclusion & Outro
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