How to use Tradingview indicators in your algo crypto trading bot
Fri Oct 20 2023
TradingView has many powerful indicators that can be used to create a robust cryptocurrency trading bot. On our Algorithmic Cryptocurrency Trading Platform, we've made it super easy to leverage these indicators.
TradingView provide users with computed indicators that is, indicators which return directly a BUY or SELL signal depending on their value, reducing the amount of complexity or knowledge required when configuring your own algo crypto trading bot.
TradingView indicators are available on their platform and via their API, which would normally require you to create your own crypto trading bot from scratch. However, If you’re using Aesir, our algorithmic cryptocurrency trading platform, you get instant, free access to the TradingView computed indicators to power up your strategy. So here’s how to create your own tradingview trading bot on Aesir.
Before we jump into it, make sure you create an account so you can follow along with the guide.
Add Your Exchange Keys
The first thing you want to do is navigate to Profile from the sidebar and add your API Keys for the exchange you want your crypto trading bot to work on. Aesir supports Binance, Kraken and Coinbase Pro with more exchanges to be added soon!
Once you’re on your profile, under the Exchange Keys section click Add Exchange. A modal will pop up prompting you to give your new Key a name, to select and Exchange and to populate with the relevant information. Note that you’ll need to generate an API key on the Exchange you’re looking to trade on beforehand.
Define the general options for your algo crypto trading bot
The next step is to navigate over to Create New Strategy. This is where you’ll be building the logic for your cryptocurrency trading bot.
You will first need to configure your General Options layer. These define some generic configuration options for your crypto trading bot and are not related to the trading logic itself. Here you’ll be able to define options such as:
- Strategy Name and Description.
- Order Amount: Defines the amount spent in USDT for each trade.
- Max Orders: The maximum number of open orders at one time
- Re-Purchase Held Coins: Allows you to re-buy an asset you’re already holding.
- Volatility Cooloff: Allows you to ignore a buy signal for a certain period of time after a buy signal was processed.
- Frequency: Defines how often your bot runs.
- Asset Selection: Allows you to choose the coins your trading bot will evaluate. leave empty to analyze all coins.
- Exit strategy: This section allows you to define a Stop Loss and Take Profit for your strategy. Tick the Enable Trailing Stop to use a Trailing Stop Loss and Trailing Take Profit Instead.
Select TradingView Indicators for your crypto trading bot
Once you’ve populated the general options, it’s time to to dive into the TradingView indicators. On Aesir they live under the Layers section and they are called Computed Indicators.
You should now see a configurable modal that allows you to choose the kind of Oscillators and Moving averages that you want your crypto trading bot to evaluate.
- Moving Averages: Allows you to choose or more Moving Average indicators to include in your analysis.
- Oscillators: Allows you to select one or more Oscillator-type indicators to include in your analysis.
- Candle Interval: Refers to the timeframe you want your indicators to operate in.
- Thresholds: These two fields let you choose how many of your selected MAs and Oscillators need to return a buy signal in order for your crypto trading bot to place an order. If you have 3 MAs and 2 Oscillators, and your thresholds are 3 and 2 respectively, this means that 3/3 MAs and 2/2 Oscillators need to evaluate to BUY according to TradingView before your bot places an order. You can play around with the sensitivity and choose 1/3 if you wish. You should test until you find a sweet spot.
- Combined Thresholds: Combines the two separate thresholds into a single bucket. So now you have 5 indicators. With e combined threshold of 3, your trading bot needs any 3 of MAs or Oscillators to return a buy signal, rather than evaluating thresholds separately.
Starting your crypto trading bot
You can now review your options on the right hand side of the screen, and once you’re happy with them, click Save. Now navigate over to My Strategies, find the strategy you just created and turn it on. Congratulations - you’re now running a TradingView crypto trading bot!
The best way to learn is by doing, so why not create an Aesir account now and get started within minutes. You’ll be able to run your strategies in Paper trading mode so that you first test that the strategy you’re copying actually works for you.