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[Tutorial][General] - Why a Plug & Play system could save you a lot of time and money

Introduction

TradingView Close data

In TradingView, there is a feature called "Indicator on Indicator" meaning you can use an external indicator as a data source for another indicator. By default, TradingView uses the candlestick close as a data source for all indicators/backtests. By using the input=source pinescript parameter, we can use the open/high/low/... instead. There isn't any recommendation here as choosing the parameter depends on your strategy. Generally, choosing the close option is safer as allows to avoid fakeouts

The Tradingview "indicator on indicator" feature

To connect your external indicator to our indicators, we're using a native TradingView feature which is not available for all users.
It depends on your TradingView subscription plan (More info here)
The image below shows the total number of "indicator on indicator" you can have on your TradingView account. If you intend to use our Algorithm Plug&Play indicator and/or our Backtest Plug&Play suites, then you must upgrade your TradingView account to enjoy those features.
We value our relationship with our customers deeply and that's why we're warning you that a compatible TradingView account type is required

TradingView Compare-Plans
TradingView Compare-Plans

The user input fields

Disclaimer: I'm not affiliated with TradingView, neither responsible for this limitation but you must be aware of it. In any case, the PRO+ and PREMIUM TradingView accounts offer plenty of great advantages from a chart and indicators usage perspectives - this solely could return your investment quickly (not financial advice)

Limitation

Even if the PRO+ and PREMIUM users can use in total several "indicator on indicator", TradingView limits it to 1 only per indicator. In other words, you could have 9 indicators using 1 external indicator but not 1 indicator using more than 1 external indicator source... hope I'm not confusing too many people here

The reason is it's causing a heavy burden on their servers and that's why the limitation is 1 external indicator per indicator. And this justifies why I can't offer you guys to connect more than 1 external indicator to my Algorithm Builders and Backtests

The amazing benefits of our Plug & Play indicators

This is a technique we saw on TradingView being introduced by the @Pinecoders account on TradingView and we greatly inspired ourselves from his Backtest Engine to offer a version more adapted to our vision - The benefits of connecting yourself any indicator to our Backtest engine are amazing and huge; this solves a lot of very widespread pain points that many traders have

Issue #1 : IT'S EXPENSIVE - Hiring a developer to code a custom indicator is costly. For a custom backtest it's even more expensive as those scripts are very often way more complicated.
Now imagine, that now that you see your idea live on a chart, you'll realize you'll have to finance another backtest system as the one you have is not compatible with your new idea.

Solution #1 : YOU COULD BE SAVING A TON OF MONEY
We will never guarantee your success on the market but THIS we will stand by it any day any hour.
You can connect any indicator or your choice by updating your indicator slightly, and connecting to our Backtest engine.

Issue #2 : IT'S TIME-CONSUMING
Even if someone is doing all the coding for you, it might require days/weeks depending on your overall trading strategy/idea.
Without even counting the time for you to test/validate the work done and all the back-and-forth to fix all the issues.

Solution #2 : SAVING TIME MIGHT EQUATES TO SAVING MONEY
We wish it could be as easy as going from weeks of coding to 1 single click :)
We did the heavy-lifting but you'll have to make the last effort the cross the finishing line.
We made it easy for you to play with it and find a configuration that makes sense to YOU and for your strategy/asset/timeframe
Having a different configuration per asset/timeframe is normal

Issue #3 : IT'S COMPLICATED - Someone did a backtest code for you but... you can't update it because you either :
- don't know anything in programming
- ... and don't have time to learn (most of us have a job/family/...life)
- The system you have is way too specific for one of your previous ideas but can't be updated easily for your next trading ideas.

Solution #3 : WE MADE IT EASY AND FUN.
Best Trading Indicator has the goal to externalize the technical stuff that you don't want to take care of - so that our customers can finally focus on their trading and optimizing their ideas.

In case you're wondering, no we're not reading your mind :) but we're also traders who didn't know how to code before and had to hire external programmers to do the heavy work for us.
You can be sure that most of the frustrations (trading, technical, ...) you have/had, we had them also and that's why we created Best Trading Indicator™

Best Trading Indicator™ to the rescue

Our backtest suite is not based on the TradingView backtest engine. We made it as an indicator
If you remember this "indicator on indicator" concept, now is the time where we'll explain how we did some real magic here.
On a chart, you'll add any indicator of your choice and our Backtest Suite - Plug&Play. Then, you'll connect your indicator to the Backtest PRO/PREMIUM Suite in a single click and.................... done. That's it!

You just went from days/weeks of custom development and thousands of USD/EUR/... spent to a single click.
Please check the video below showing how it works.

Transforming an indicator into a backtest has never been easier than that! But obviously, you'll still need to configure it to find a system that makes sense to YOU and is adapted to your capital/psychology/personality.
You'll have to update your indicator with only 2/3 lines of code.
You must own the indicator source code and have it available (i.e. you can see it on PineEditor).
The Plug and Play won't work with the indicator you have in mind has been made by another author, and published as a protected or invite-only script.

PS
You could always ask the author for his source code access, or find an open-source alternative.



Maybe not a "single" click only but ...

Of course, the backtest offers plenty of filters and they're not only here to make our tool looking fancy or scientific, but they're also useful so we "strongly encourage" you to play with them.

That's being said, the [BTI] Backtest Suite will give you plenty of the most common backtesting filters and you might not have to spend a ton of money hiring developers after ordering it as you can connect any of your indicators yourself.
We think it's a fantastic feature and has been requested hundreds of times by our audience.