A typical Pine Script for spread trading would include:
Fetching Data: Getting the real-time price of EUR/USD and USD/CHF. Calculating the Synthetic EUR/CHF Price: Since EUR/USD * USD/CHF ≈ EUR/CHF, we use this relation to analyze deviations. Computing the Spread: Taking the difference between EUR/USD and the synthetic EUR/CHF price. Z-Score Normalization: Measuring how far the spread deviates from the mean (Mean Reversion). Overlay and Visuals: Plotting the spread and key levels to visualize trading signals.