From Pine Script to evidence: test a TradingView indicator in two minutes
Paste a TradingView Pine Script indicator into Evident's lab, see which lines convert and which do not, measure whether it carries information on real data, use it in a strategy and export it back to Pine.
TradingView has hundreds of thousands of community indicators. Most come with a chart that looks great and no evidence at all. If you have one you like, here is how to find out in a couple of minutes whether it knows anything.
1. Paste it
Open Lab and paste the Pine Script. Evident first converts it with a deterministic translator — no AI involved — into its own small formula language: ta.ema becomes ema, ta.crossover becomes crossover, close[1] stays close[1], and so on.
Some Pine features have no equivalent in a safe formula language: loops, drawing objects, strategy orders, requests for other symbols. Evident does not silently drop them. Every line it could not convert is listed with the reason, so you know exactly what was left out. If the conversion is incomplete, you can ask the AI to rewrite the remaining logic; its script goes through the same compiler, and compile errors are sent back to it with the line and column until it compiles (or it gives up and tells you).
2. Measure it
Choose a market and timeframe. The lab runs the indicator on real candles and reports:
- the information coefficient at several horizons — does a higher value tend to be followed by better returns? (explained here)
- quintiles — the average return after the lowest fifth of values up to the highest fifth
- stability — whether the relationship holds in both halves of the data
- a plain verdict: evidence, weak, none, or not enough data
Most indicators land on "none". That is a useful answer: it took two minutes instead of two months of trading it.
3. Use it
An indicator that earns its place can be saved to your library and used as a condition in any strategy in the studio — "my indicator above 0.8" — with the same backtest, out-of-sample test and Monte Carlo as everything else. Candlestick patterns are available inside formulas too, as cdl("hammer").
4. Take it back
Every indicator can be exported to Pine Script v5, generated directly from the formula, so the calculation on TradingView is the same one you measured.
Measuring an indicator is research, not investment advice.
Evident does not give investment advice. Past performance does not indicate future returns. Leveraged and automated trading carries the risk of losing capital.