I ask ChatGPT to create a Pine Script backtesting code that can be used as a trading bot. This AI-generated script produced a huge profit trading Bitcoin versus the US Dollar. What is the future of AI in trading, and how does ChatGPT fit in?
⏱️ Timestamps ⏱️
00:00 – Start
01:19 – What is ChatGPT?
02:23 – How to Create a Trading Bot in ChatGPT
06:34 – Results, Equity Curve, Score
07:11 – Concluding Thoughts
⚙️ System Specifics ⚙️
📛 System Name: ChatGPT: BTC/USD EMA Strategy
🏆 Trader’s Landing Score: N/A
🎹 Instrument: Bitcoin vs. US Dollar (BTC/USD)
⌛ Time Frame: 1-Hour (H1)
👀 TradingView Indicators
Links to indicators located here: https://traderslanding.net/indicators/
Name: Exponential Moving Average (EMA)
Inputs: Length = 50
By: TradingView Built-In
Name: ATR Bands
Inputs: 2 Times ATR upper and lower bands.
☝️ Long Entry
1) Enter when price closes above the 50 EMA.
👇 Short Entry
1) Enter when price closes below the 50 EMA.
🔥 Risk to Reward: Variable / Dynamic
🛑 Where to place stop-loss: 2 times the ATR value of the trigger candle.
🚀 Where to take profits:
For Longs: Close when price closes below the 50 EMA.
For Shorts: Close when price closes above the 50 EMA.
⚠️Disclaimer: This content references opinion and is for information purposes only. Not intended to be investment advice.