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TV Strategies Data Scrape

Data Collection for Your TradingView Strategies

In today’s fast-paced financial world, having a solid trading strategy is essential for success, especially when venturing into the vibrant realm of cryptocurrencies. The ability to analyze multiple assets effectively can be the deciding factor in maximizing your investments. This lesson will guide you through the process of data collection and strategy testing, equipping you with valuable insights that bridge traditional finance principles with innovative cryptocurrency practices. Understanding these methods is paramount for anyone looking to thrive in both conventional financial environments and the rapidly evolving crypto market.

Core Concepts

To effectively navigate the complexities of testing trading strategies, it is essential to grasp a few fundamental terms:

  1. Trading Strategy: A trading strategy is a systematic approach detailing when to enter and exit trades. In traditional finance, these strategies have long been principles of market analysis, and in cryptocurrency, they are crucial due to the market’s volatility.

  2. Data Scraping: This refers to the process of collecting data from websites. In traditional contexts, analysts gather data to inform investment decisions; in crypto, it translates to collecting performance metrics for evaluating asset behaviors.

  3. CSV (Comma-Separated Values): A CSV file is a common data format used to store tabular data. Both traditional finance and crypto traders use CSV files for analyses, allowing for a seamless transition of data into spreadsheets for further examination.

  4. TradingView: This is a popular platform for charting and analyzing financial assets and strategies. In both traditional and crypto finance, it’s a powerful tool that provides insights into asset performance, facilitating informed trading decisions.

  5. Drawdown: Drawdown measures the decline from a historical peak in investment value. It is critical in traditional finance to assess risk; similarly, in crypto, monitoring your drawdown can be essential to managing potential losses effectively.

  6. Performance Summary: This represents the aggregate results of a trading strategy, including metrics like profit, loss, and drawdown. For crypto traders, understanding performance summaries can provide insights into the viability of specific trading approaches.

  7. Risk Management: Encompassing a set of rules to minimize losses, risk management is crucial in traditional investing, and it’s equally vital in crypto. Strategies ensure that assets are preserved while taking calculated risks.

Understanding these concepts is critical in expanding your knowledge base in data analytics and strategy testing within the crypto world.

Key Steps

1. The Importance of Data Collection

  • Establish a Robust Strategy: Before venturing into data collection, it’s essential to have a clear trading strategy established.
  • Identify Relevant Assets: Selecting a diverse range of cryptocurrencies ensures comprehensive strategy testing.
  • Utilize Tools: Leverage tools—like a Chrome extension—to facilitate streamlined data collection efficiently.

Explanation:

A crucial first step in any trading endeavor is to have a well-defined strategy that you aim to test across multiple assets. This not only ensures robust testing but also emphasizes the adaptability of your approach across varying market conditions. In the realm of cryptocurrencies, where fluctuations can be significant, identifying a range of assets—from established coins to newer entrants—adds an enriching layer to your analysis. The use of technology, such as the Chrome extension, offers a modern solution to data collection, aiming to save you time and effort.

2. Implementing Data Collection Techniques

  • Using TradingView’s Strategy Tester: Start by accessing the performance summary of your chosen strategy.
  • Data Capture Process: Employ the Chrome extension to capture data as you cycle through each asset’s charts.

Explanation:

Once your strategy is prepared, the next step is to delve into TradingView’s strategy tester. The performance summary provides vital statistics that will be captured throughout the data-gathering phase. By employing the Chrome extension, you ensure that every performance metric is accurately logged while testing across various assets. This approach simplifies what would otherwise be a laborious process of collecting individual CSV files manually.

3. Analyzing Captured Data

  • Consolidate the Information: Transfer collected data to a spreadsheet for analysis.
  • Assess Key Metrics: Focus on metrics such as drawdown and profit to evaluate effectiveness.

Explanation:

Upon successfully collecting your data, the next logical step is to consolidate this information into a well-organized spreadsheet. Here, you can assess key performance metrics that will determine your strategy’s viability. Metrics such as drawdown or net profit provide an accurate picture of how the strategy behaves across various assets, enabling you to make informed decisions about its effectiveness in the dynamic world of crypto.

4. Adapting and Refining Your Strategy

  • Heed Changes in TradingView: As TradingView updates its interface, be proactive in adapting your data collection methods.
  • Explore Different Scenarios: Utilize variations in your strategy to observe differences across the market.

Explanation:

Financial markets, particularly cryptocurrency, are ever-evolving. Staying adaptable is essential. Should TradingView undergo changes in its user interface, it’s imperative to quickly adjust your data collection methods to maintain efficiency. Moreover, testing various strategy permutations can uncover insights into how different settings perform, helping to refine your overall approach.

 

Crypto Data Analysis:

As you test your trading strategies using data collection methods, consider how the principles observed apply in the blockchain landscape. For instance, while traditional finance relies on periodic data from established exchanges, blockchain technology has ushered in decentralized platforms that offer real-time insights, creating a more fluid and dynamic data environment. This rapid access to essential performance data can enhance your decision-making in ways traditional methodologies may not achieve.

Examples

While the original transcript may not provide visual aids directly, consider using a hypothetical example to illustrate your progress and results:

  • Hypothetical Example: Imagine you’ve tested a Gaussian channel strategy on Bitcoin, Ethereum, and a lesser-known altcoin. You notice that while the first two coins exhibit high volatility and drawdowns over 50%, the altcoin by contrast maintains under 20%. This allows you to pivot your investments toward safer options based on data-driven insights.

Real-World Applications

In history, data collection has transformed investment strategies, providing investors with a competitive edge. The rise of cryptocurrencies has only amplified this need, showcasing the importance of continuous evaluation and adjustments based on real-time data. Traders who embrace these practices often find themselves better positioned to maximize their returns while mitigating risks.

Cause and Effect Relationships

From the lesson, a clear relationship emerges: effective data collection through tools like the Chrome extension leads to improved strategy performance and better risk management. In the crypto realm, this is evidenced through refined investment choices stemming from comprehensive data analysis. As you monitor the interplay between various assets, you can adapt your approaches, optimizing your portfolio dynamically.

Challenges and Solutions

  • Data Collection Issues: If TradingView’s UX changes, your data may not capture correctly.
  • Unique Crypto Challenges: The volatile nature of crypto may skew your results.
  • Miscommunication in Metrics: Investors may misinterpret performance metrics due to inexperience.

Solutions:

The key lies in remaining informed and adaptable. Regularly check for updates on tools or platforms you’re utilizing, and don’t hesitate to reach out to community forums for troubleshooting or advice. Furthermore, educating yourself continually on market mechanics can improve your understanding.

Key Takeaways

  1. Have a Clear Strategy: Establish a trading strategy before gathering data—vital for effective testing.
  2. Use Technology Wisely: Implement tools like Chrome extensions to streamline data collection.
  3. Focus on Key Metrics: Prioritize metrics like drawdown to assess risk effectively.
  4. Adaptability is Key: Be prepared to alter your methods in response to platform updates.
  5. Consolidate Findings: Analyze data in a structured spreadsheet to draw actionable insights.
  6. Continuous Learning: Stay informed about market trends and strategies.
  7. Engage with Communities: Leverage existing networks to enhance your trading strategies.

These takeaways are essential not only for traditional finance but also significantly impact your success in navigating the crypto markets effectively.

Discussion Questions and Scenarios

  1. How would you adapt your trading strategy if the volatility of a particular cryptocurrency significantly increased?
  2. Compare the risks associated with a high drawdown strategy in traditional finance versus cryptocurrencies.
  3. What data collection methods do you think are most effective in analyzing trading strategies?
  4. Discuss how changing market conditions might influence your strategy and the data you prioritize.
  5. How can you leverage community feedback to enhance your trading strategies?
  6. Imagine a scenario where your initial strategy yields low performance. What next steps would you take to reassess and modify your approach?
  7. Compare the responsiveness of traditional financial platforms to user interface changes versus newer blockchain applications.

Glossary

  • Trading Strategy: A systematic plan that outlines trading actions, typically focusing on asset performance.
  • Data Scraping: Collecting data from multiple inputs, streamlining the analysis process.
  • CSV: A file format used to store data that can be easily transferred to spreadsheets.
  • TradingView: A platform for analyzing and visualizing trading strategies through interactive indicators and charts.
  • Drawdown: The measure of loss from a peak to a trough, indicating the risk involved in a trading strategy.
  • Performance Summary: A report on the trading strategy performance, essential for objective evaluations.
  • Risk Management: The practice of controlling financial exposure and losses in trading.

Exploring these concepts equips you with the understanding needed to thrive in both traditional financial contexts and the burgeoning world of cryptocurrencies.

Continue to Next Lesson

As you wrap up this lesson, remember that data collection and analysis are just the beginning of your journey in the world of trading. Equip yourself with knowledge and tools, and prepare for the next exciting lesson in the Crypto Is FIRE (CFIRE) training program!

 

Read Video Transcript
THE EASIEST Way To Scrape Data For Your TradingView Strategy Revealed! (Robust Strategy)
https://www.youtube.com/watch?v=NdxfQeT8hAY
Transcript:
 That’s right, guys.  You have a trading strategy and you want to test it on many coins  because you want to make sure that it is a robust strategy.  That means you need to go through many coins and capture the data.  But how do you do that?  Because until today, you have to go to the strategy tester  and you have to go to the list of trades and then download all of the CSVs  and then somehow consolidate them.
 It’s not fun, okay?  So I came up with a better solution.  I have created a Chrome extension that captures  the data while you’re clicking through the charts. Much better, right? This is how it works. You have  your strategy on the screen.
 You open the strategy tester and you make sure you are in the performance  summary because that’s where all the numbers are that the plugin will read for you. Now you click  on the plugin, you click start, and as you can see, it starts collecting data. So I press the space  bar and every time I press the space bar and  every time I press the space bar trading view will go to the next chart but also at the same time  my extension the plugin here will capture the data so every time I press space it will capture  the data how the strategy performs on that coin and then once I’m done I can click here I can
 click stop copy the data go to your spreadsheet and paste the data.  And ta-da, now you have all the data you need  to analyze the performance of your strategy  on all of these coins and more.  It really only depends on how many coins  you wanna go through, but there is no limit.  Isn’t that nice, guys?  Because now we can run many strategies on the same coins  and we can compare the strategies with each other  and we can pick the one that is most robust meaning that it works on many coins not just a couple of them
 and back in your spreadsheet you can have one tab for each strategy and you can calculate the  numbers that you care about and see which strategy is the best one overall amazing but how do you get  started well by watching this video until the end because there are a lot of details you must know so that you can fix all of the small issues if they happen.
 Okay,  so I’m going to show you where to find the extension, how to use it, how to react if  TradingView changes the user interface, because there are selectors, so it knows where the data  is. You can change that. The plugin has features for that. And also how to get in touch with me  and the community in case you have ideas on how to improve this extension because i’m here to make people better with trading strategies which is why it’s so  important to collect the data on multiple coins and assets so you can create a good strategy right
 so that’s why this tool is very very important in the process okay if you have great ideas come to  the community and i might even implement your ideas because i’m here to help everybody right  having said all of that i I’m not a financial advisor.  This is not a financial advice video.  And crypto is risky.
 You can lose all of your money, right?  You can lose all of your money, but that is why you subscribe to this freaking channel.  You watch every video because then your chances of success are at an all-time high.  But you know all of that already if you’re a subscriber.  So with all of that in mind, let’s get started.
 Okay, first thing we need to know is where to find the extension well in the chrome extension store  problem is only that is not yet approved because i just added it today and i was not aware that  this process takes time i thought it’s very quick some ai will look at it but it will look something  like this the icon will be like this there will be a link down below this video and then you click on add to chrome to add it to your extensions click the puzzle piece and then click on the pin because  you need it to be up there because you need to be able to click on it and use all the buttons that
 it has okay so that’s how you add it to your chrome by the time you’re watching this video  it might already be approved okay just click the link down below and add it to chrome let’s go to  the next step okay now we have the extension in Chrome, but how to use it? Very  simple. And I’m going to give you a couple of pro tips as well when it comes to TradingView.
 So make sure to open your watch list over here with this icon, and then make sure to create a  new list. If you have the subscription for that, definitely helps because you want to have a list  of symbols that is for the testing purposes  and that list should be quite strictly managed because you want all the strategies to be tested  on the same coins right so my list is called strategy testing list and these coins have been  added by me because they are important but also because they have some edge cases like trx or
 pepe right So I want to  have everything there, right? From meme coins to big coins to new coins, everything. So you’re  making a list, you’re checking it twice, and you’re adding coins that are naughty and nice.  So that I can see that my strategy is robust on all of these coins. Now, how do you add  coins to this list? You simply click on the plus icon here and you  search for the one that you want and you click the plus icon here and then they will appear  on the right side. So make sure to create your list with the coins that you want to test with.
 Okay, once you have the list of coins, then turn on your strategy. Make sure you have only one  strategy turned on. Click on the show button and automatically TradingView will open the strategy  tester. Make sure to go to the performance summary because this is where the plugin will take the  numbers from and now you’re ready to collect the data now click on the extension and if you open  this for the first time then make sure to click on save selectors because otherwise you might run  into some issues just for the first time ever otherwise Otherwise, you don’t have to do that. So if you open this the second time, the third, the hundredth time,
 then simply click on it and click on start.  And you can see it already collected one data point and click here.  And now click space or press space, right?  And you always wait until the number goes up.  You see, I press space.  It says three.  I press space.  It says four.  I press space.  It says five.
 I don’t press space too quickly three i press space it says four i press space it says five i don’t  press space too quickly because then it doesn’t have enough time to gather the data here from the  performance summary if you press too quickly it will end up in not having those numbers it’s not  the end of the world and i will show you what happens and how to fix it but it’s just waste  of time right so if i click too quickly here then it might not have captured the data  yet because it needs some time to load here right so let’s click on the plugin again and click stop  and now click on copy data that will copy to the clipboard and now when you go to a google sheet
 and you just open a new tab you can paste the data and as you can see i have an issue with the  render line item because i press space too quickly but i can fix that very fast simply click on render right to have it open then go to the extension click start  click stop click copy data because when you click start it already collects the one that is open in  the moment right go back to the sheet and paste the data and as you can see here this is the line  item that i just need to replace and now i have a full list of numbers that I can use for my analysis.
 Okay.  And this list can be as long as you like.  Okay.  Like you can go bananas.  You can have hundreds of coins.  Yes, you have to click the space bar, but it’s still faster than any other method before this.  So far, so good.  But what happens if the user interface of TradingView somehow changes  and the plugin doesn’t know where to get the data from  first of all click save selectors if you forgot to do that because that could be the issue right  but second of all you can change these selectors here which are obviously given by design by
 default by me and by the way once trading view changes this i will update the plugin most likely  but if you don’t want to wait for me okay and you want to make sure that all of this data is captured for you at any point in time you have control over this  you can simply say okay where is the ticker symbol right where is the net profit where is the total  trades and so on and i want to copy the selector so that the plugin knows what to do so it’s quite  simple you go to chrome and let’s say you want this number to be captured right then you right
 click on it and then you click on inspect, okay?  And then it will open up the inspector.  And as you can see, this is the element where the number is, right?  So right click on it, go to copy and click on copy selector, okay?  Copy selector.  And then you can go here and you can replace this selector.  This was net profit, right?  Put it here and then click on save selectors, okay?  And you can do the exact same thing with all the other metrics that the extension is collecting.
 Of  course, it’s not collecting all the numbers in the performance summary, but the ones that you see  here, they will be collected. For example, max drawdown is somewhere here and this is the one,  right? Inspect it, then you hover over it here.
 You see that the one right click copy copy selector go here replace  this selector here click on save selectors right and from that moment on it will use that as the  selector now you can see why this is very powerful because even if trading view changes the interface  somehow you can always find the numbers by just updating the selector okay but how do i analyze  these numbers now that I have them,  what do I look at, right? Well, I can tell you a couple of things, but of course, this is up to you to be creative. So you have all of these numbers, right? But you need to somehow come up with an
 idea of how to look at these numbers so that you can decide for yourself, right? What is better?  Okay, is this better, this, this or this, right? And so how do you do that? Well, I look at the drawdown. I really care about the drawdown a lot, okay? Because I have quite some  funds in crypto and I don’t want to lose my money, right? I don’t want to suddenly end up having less  than before, right? That’s not the plan.
 So even if I make less profit than I could, I protect my  money as much as I can, right? You might be different, okay? You might want to take more risk,  okay? So really that’s why these metrics that I will show you now are not the same for everybody right so what i do  right i go through this list and i say okay is it above 50 drawdown then i would not trade that coin  i would not even put my money into this asset okay so i would not trade with the gaussian channel  strategy i would not trade ethereum for example right i will not trade with the Gaussian channel strategy. I would not trade Ethereum, for example, right?
 I would not trade Fetch.ai with this strategy, right?  I would not trade Dogecoin, right?  So I then say, okay, if I trade the rest of the coins,  how much money can I make  when it comes to the risk-adjusted way  to calculate this, right?  So I have another metric here where I basically say,  if I put, you know, a thousand bucks in each coin  and then I multiply with the net profit and then I make sure to subtract the risk and so on then you know some  number comes out and then I make sure to compare the strategies like that. But you might want to
 do other things right so if I go to the super trend you can see also there are a couple of coins  that have higher than 50% drawdown okay so those coins I shall not invest in but the others I can  invest in right so the others I can invest in, right?  So the others can produce this profit that you see here with the risk that you see here, right? So  you can come up with something that helps you.
 Now, for example, the improved Gaussian channel  strategy has a bit less of these over 50% drawdowns, which is quite nice. So I can only,  I have to only ignore these coins, right? And I can invest in the rest of them. So it looks like  it’s a better strategy overall than the normal Gaussian channel version, right? And I can invest in the rest of them.
 So it looks like it’s a better strategy overall  than the normal Gaussian channel version, right?  And if you’re not sure what I’m freaking talking about,  then watch the video that I will put up here right now  because it’s where I use AI to improve an existing strategy  by adding another indicator to it  and telling it how to use it.  It’s very nice, okay?  You will love that video as well.
 But you see what I’m saying, right?  So I don’t wanna completely tell like do exactly like this because everyone is  different. You might want to take more risk or you really care about the profit factor,  or you really care about having a lot of winning trades because it’s psychologically important  often to have that, or you don’t care about that, but you care about having more trades or God knows.
 Okay. And again, if you need more numbers, let me know. I might be able to add  them to the extension. But that is how I kind of think about it. And then what I do is I take the  number, whichever number I came up with, right, to analyze this and I sort these tabs, right? So for  example, this is the highest number.
 So I put it at the beginning, right? Then this is the second  highest number, right? So now I know based on whichever metric you have chosen to go for, right,  or combination of metrics, then you have a sorting and you say, okay, this is the best strategy based on the  numbers, right? This is the second best, this is the third best, okay? And this way you can pick  the best strategy that you have available, okay? For yourself based on the metrics that you’ve been  looking at. And it’s not that hard, okay? Like now that you have the easy way to collect the data and
 put it in a spreadsheet, can get creative right and that  is why i wanted to post this video as fast as possible because a lot of you have this problem  and you need to capture this data from multiple coins so now you can go bananas right you can use  my videos to create a strategy from an indicator to improve the strategy but then to also test the  strategy on a lot of coins and then have variations of the strategy and see which one is better right  because sometimes you have strategies that come with some parameters. Like for example,
 the Gaussian channel has a couple of parameters. And if you change those parameters, right? You  make this happen, for example, HL2 and you put number two here, then it becomes a bit better,  it has a bit better numbers, but is it better just on Bitcoin or is it also better on all the  other coins right and now  you know why this is so powerful because now i can run the numbers right and i can see which one is  better based on my metrics what i care about okay and i care about risk management i really don’t
 like to lose my money okay and so it depends are you on the super risky side you want to make as  much money as possible no matter how high the risk is, then  you would calculate differently, right? Are you on the other side, like me, where you want to protect  your money as much as possible and make the money that results from that, right? Or are you somewhere  in the middle, right? And that’s what will determine how you calculate these numbers for yourself  in your own sheet, okay? I want to give you a template for that and it’s linked down below.
 And the simple reason for that is it’s linked down below and the simple  reason for that is because if you don’t set this to the us american standard then the dot will not  be interpreted as a comma but it should be right so i want to make sure you’re using exactly this  template and you can copy it and you can use it for yourself you do not need to click on access  rights okay you don’t need access rights the only thing you need to do is click on file,  click on make a copy,  and then you have your own version and you can play with that, okay?
 Do not click on give me access rights  because I will not give you access rights  and you don’t need it also, okay?  I got hundreds and hundreds of emails from Google  that people want access rights  to my AI templates and everything,  but you don’t need it.  Just copy it, okay?  Like it’s easy.  Okay, having said all of that,  I hope you see how powerful it is,  what I’m showing you in this video.
 And now you have all the tools you need  to make it happen, guys, okay?  You can create a strategy, there is a video.  You can improve the strategy, there is a video.  You can analyze the strategy with this video, okay?  And you can automate the freaking strategy  with the video I’m putting at the end of this one, okay?  Guys, it doesn’t get much easier than that.
 I mean, the only way it could get easier is if you’re part of the auto trading masterclass.  But the problem is, mate, it’s very expensive and it’s only for people who have larger portfolio, blah, blah, blah, okay?  You don’t need it until you need it, okay?  Use all the free information, watch all of my videos you’ll be fine unless you want to have access to my knowledge to my process to my strategies to my community to my templates  for analyzing strategies building portfolios to the community to me you get the idea right then
 fine apply it’s good but don’t apply if your portfolio is below 25k because you will need  that to build a proper risk adjusted portfolio okay with. With all of that in mind, I want you to also know that you can take a strategy  from TradingView and you can fully automatically execute it.