How to Automate Trading in Trading View
TradingView is a cloud-based trading platform that integrates market information and offers unique research, analysis, and trading capabilities. One of the core benefits of using WunderTrading for traders is the ability to build a TradingView bot that can be easily automated using our platform.
Such an approach would enhance your trading results and will make sure that you stick to your trading system. TradingView was launched in 2011 to unite traders from all over the world at the open platform for exchanging information and investment ideas. According to the developers’ concept, the platform was to combine the functions of a trading and analytical platform and allow for efficient communication between traders.
With time, the idea grew into a full-fledged solution offering a large-scale list of various functionalities to its clients. Users can now perform advance technical analysis, use pine code for TradingView automated trading, share educational content and even luach the live streams with technical analysis.
The key place in TradingView is taken by analytics in the form of charts, trading indicators and tips, as well as by the trading platform. TradingView charts show the price movements of various assets, stocks, bonds, futures, cryptocurrencies and so on. The number of users of the site reaches 8 million people.
Advantages of TradingView
At the moment, TradingView services are considered the top analytical platform. It provides opportunities for
- Technical analysis with the largest possible range of tools, technical indicators and templates of strategy.
- Tracking major cryptocurrency news, corporate reports, a calendar of macroeconomic statistics and so on.
- Trade stocks, futures contracts, cryptocurrencies and other assets by connecting a broker’s account.
- Exchange views and investment ideas in the chat room and post your own thoughts.
The platform has a user-friendly interface. You can create various charts for the range of assets. These include stocks of international companies with quotes from various exchanges around the world, indices, cryptocurrencies, forex instruments, and so on. The time interval of charts has a large range from a second to a month.
One of the most important advantages of the service is the possibility of “live” communication with other traders, which is why this project was conceived. On the site, you can get acquainted with the trading ideas of your colleagues, see their trading forecasts, and then track their results.
In addition, you can post your own ideas and forecasts. On the platform, there is a large amount of educational material, which allows you to get new knowledge and new experience, which is necessary especially for beginners traders.
The TradingView platform is a leader in its functionality. Its capabilities for technical analysis are unique, and traders from all over the world appreciate the strengths of the service. TradingView has huge potential.
How to automate TradingView Strategy?
Before answering this question, we need to understand what TradingView indicators are.
- Indicators are models of price behaviour, which tell traders
- how the market will develop. With the help of this information, each trader can develop a trading strategy.
TradingView includes more than one hundred indicators for thorough market analysis, which cover the most popular trading concepts. For advanced users, the site offers to create their own indicators using the Pine scripting language.
It allows you to change the indicator code, so every trader can create almost any indicator from scratch. For beginners, TradingView also gives enough: indicator templates, simple integration and the possibility to test. TradingView automation is organized through indicators and alerts (signals).
The answer to the question “How automated trading works? looks follows
- The trader chooses the indicator to trade with.
- As soon as a selected value of indicator appears on the chart, the trader is notified. Alerts can come by e-mail or SMS.
- However, this is not all of the features that TradingView has to offer. For complete TradingView automated trading you can use trading robots, which work on the basis of signals received from this platform.
A trading robot is a special software which works according to a certain algorithm. Basically, it acts on behalf of the trader at the exchange and does the work of opening and closing trades for him.
The use of trading software has many advantages:
- it saves the trader’s time;
- It doesn’t make human errors, such as falling into rush and inattention;
- It does not get tired.
TradingView doesn’t have its own trading robots, but it allows connecting third-party software via API. For example, you can download TradingView automated trading app and start working with it, but the best way to automate your trading would be to use robots from WunderTrading.
It is an automated trading platform, which has a wide range of tools that make trading at the exchange simple and easy. This includes software that automates your work with TradingView.
As soon as you connect your robot to TradingView, it will start receiving signals from this platform. Your robot will not only notify you about the right time to enter the exchange but will also open and close trades for you according to these signals.
Setting up an automated trading robot on TradingView is very simple.
- If you don’t already have a WunderTrading account, create it.
- Connect the exchange you are going to trade to your WunderTrading account using the API.
- Set up a WunderTrading robot.
- Connect this robot to TradingView alerts via Webhook.
- Start trading.
Don’t be afraid if the instructions look complicated. The WunderTrading website has a detailed process for setting up automated trading bots with a description of each step. There you can also watch several videos on automated trading strategies and indicators.
In addition to trading automation via TradingView, WunderTrading has many other useful features.
- buying and selling cryptocurrencies;
- easy-to-use trading terminal;
- copy trading;
- trading robots that automate almost any strategy;
- trading on the spread;
- educational section with a lot of materials about cryptocurrency and trading.
What is TradingView bot?
TradingView has its own programming language (PineScript) that allows traders to specify a set of predefined criteria. The main benefit of the pine script is that it is easy to use and does not have any limitations in terms of indicators. These TradingView scripts can be standalone indicators or entire trading systems that can be deployed to any chart afterwards.
Creating the strategy script allows you to backtest your trading ideas and TradingView will provide the detailed results of the strategy backtest. At the same time the strategy can be easily adjusted and fine tuned to make sure that you get the best possible results in your trading. TradingView strategy or script can then be automated with a platform – WunderTrading. Once a TradingView bot generates an alert, it will be sent to WunderTrading, where it will create a strategy order that will be sent to the exchange.