Self-Optimizing Indicators for MetaTrader and TradingView

Robust indicators that optimise themselves automatically when added to a chart without the need for prior optimisations. This lesser-known tool can function like an adjustable spanner in the toolkit of manual traders.

What It Is

We all know that it’s a mistake to use the same input values for an indicator on all the different markets. That’s why we try to optimise the inputs on each chart, either manually or by advanced methods. However, optimisation is a long and tedious process, and optimisations are performed on a limited number of market symbols, usually one. That’s where self-optimisation comes to the rescue.

What It Does

When you add a self-optimising indicator to your chart, it adjusts its inputs to conform to the chart’s price data automatically. When you change the chart, the indicator conforms to the new one. You won’t need to even look at the inputs, let alone trying to optimise them.

Limitations

The computational resources of programming infrastructure are limited. Therefore it’s not recommended (and sometimes not possible) to make complex indicators self-optimising (we have had success with double SMA on TradingView and MetaTrader5). The other limitation is that the market data available on the chart might be limited. All in all, self-optimisation doesn’t replace advanced optimisation, but it’s a useful robust tool, especially for manual traders.