Auto trading in TradingView, or algorithmic or systematic trading, harnesses a technology-driven system where trading orders are executed automatically according to predefined rules or algorithms. Auto trading in TradingView facilitates the swift capture of real-time market opportunities, extending from simple, single-asset setups to sophisticated, AI-powered multi-asset platforms.
The primary strength of auto trading in TradingView lies in its capacity to function with minimal human intervention post-setup, albeit under watchful supervision.
In this article from Finestel Academy, you will get familiar with the benefits of auto trading in TradingView, the possibility of it, and the nature of TradingView bots and alerts. Finally, we will look at widespread trading automation with key features suitable for traders and asset managers.
Does TradingView Support Automated Trading?
Unfortunately, directly NO. While TradingView is a formidable platform for chart viewing and market condition analysis, it needs to improve by directly facilitating auto trading. Despite an announced plan to integrate such a service, this limitation still needs a specified timeline for its implementation. The absence of auto trading is especially felt by traders seeking to reduce the impact of emotional decisions on their trading actions, given the market’s high stakes and fast-paced nature.
However, there are alternative solutions within TradingView. One such option is the manual trading route, which calls for creating a bot and setting an alert. The final step involves utilizing the ‘Webhook URL’ option to link the bot’s web address. This workaround enables some automation, even if it doesn’t provide full-fledged auto trading.
Furthermore, for those open to exploring beyond TradingView, third-party order automation services exist as viable options. These services, which we will delve deeper into later in the article, offer additional flexibility and control, potentially enriching your experience and strategy for auto trading in TradingView.
What Is a TradingView Bot?
A TradingView bot is a potent tool that executes trades based on signals originating from TradingView’s indicators or preselected strategies. These bots, available in free and paid variants, cater to traders of all experience levels with customizable features.
Compatibility with third-party platforms is integral to these bots, as users require accounts on such platforms to link their TradingView bot for trade execution. Additionally, TradingView offers PineScript, an easy-to-use programming language that permits traders to outline predefined criteria and construct comprehensive trading systems with unlimited indicator usage.
The advantages of employing a TradingView bot are various, including efficiency, heightened trading discipline, and potential for increased profits through quick identification and exploitation of trading opportunities. However, users must also consider certain risks.
The costs of some bots, the complexity of setting up and using these tools, especially for novice traders, and the inherent financial risk associated with any trading strategy should be carefully evaluated before embracing bot-enabled trading on TradingView.
Check out our guide on the best crypto trading bots for more details.
What are TradingView Alerts?
TradingView alerts are a vital tool for traders, delivering important notifications when specific conditions are met on a chart. These conditions can include price changes, technical indicators, or other market events. Instant alerts are sent immediately once the conditions are met, while scheduled alerts are dispatched at predetermined times.
To create an alert, traders select a condition to monitor, which can contain a wide range of options such as price, volume, indicators, or news events. Traders can then set the parameters to determine how the alert will be delivered, whether through email, SMS, or push notifications.
The benefits of utilizing TradingView alerts are extensive and valuable for traders of all experience levels. They enable traders to stay informed about market developments, identify potential trading opportunities, and avoid potential losses. By providing timely notifications when specific conditions occur, alerts empower traders to take immediate action, leading to improved trading outcomes. As a result, the exploration and utilization of TradingView alerts are highly recommended for all traders seeking to enhance their trading strategies.
How To Create An Automatic Trading Bot with TradingView?
Auto trading in TradingView is possible via creating bots which can be a great way to save time, reduce emotions, and improve your trading performance. To understand the procedure, come along with the following steps:
- Create a TradingView account.
- Choose or create a watchlist of cryptocurrencies you want to trade.
- Create a trading strategy by defining the rules for when your bot will buy and sell cryptocurrencies.
- Backtest your strategy to see how it would have performed in the past.
- Deploy your bot to a third-party automating service.
Creating a bot for auto trading in TradingView can save time, reduce emotions, and improve your trading performance. However, it is essential to backtest your strategy and monitor its performance regularly.
What Services Can Automate Strategies in TradingView?
There are several services available to automate strategies in TradingView. Here is a list of some popular ones:
- 3Commas: This platform allows you to copy successful traders, automate your strategies, and set up stop-loss and take-profit orders. Read more in 3commas Review and 3commas copy trading articles.
- Cryptohopper: Offering features like backtesting, paper trading, and real-time trading, Cryptohopper is a versatile automated trading platform. read more in the Cryptohopper review.
- Finestel (Soon): Finestel is a white-label software, focused on arming professional crypto traders –with a community of followers (e.g. copy traders, investors)– with a set of customizable tools and services.
- Gunbot: Gunbot is a robust trading bot that supports multiple cryptocurrencies and exchanges.
- Mudrex: A cloud-based platform, Mudrex lets you create and backtest trading strategies using various indicators and techniques.
- Quadency: Quadency allows you to trade on different exchanges, including Binance, BitMEX, and Huobi, using their cloud-based automated trading system.
- SignalBot: SignalBot enables trading across multiple cryptocurrencies and exchanges through automated functionality.
- Superorder: Superorder is an automated trading platform that covers stocks, cryptocurrencies, and forex.
- Tickerly: Tickerly is an automated trading platform catering to stocks, cryptocurrencies, and forex.
- Traderelay: Traderelay is an automated trading platform that supports trading across multiple asset classes.
- PineConnector: PineConnector provides retail traders with a complete low-code toolkit to automate their TradingView strategies on MetaTrader, with a typical latency of <1 second.
Remember to consider your specific needs, goals, fees, and features each service offers when selecting the one that suits your needs best.
List of TradingView Alert Automators
Here is a list of third-party providers that automate the TradingView Alert feature for your trading operations:
- 3Commas
- Aleeert
- Alertatron
- Wundertrading
- AutoView
- Finestel
- Gunbot
- Tickerly
- TradersPost
- Traderelay
- Mudrex
- Cryptowatch
- APIBridge
- Auto4Mex
- SignalBot
- Cryptohopper
- NextLevelbot
- ProfitView
- Quadency
- TradingConnector
- Superorder
- TradingView.to
Note that this comprehensive list includes the providers you can discover after conducting extensive research.
Top 5 Trading Automators of TradingView
These platforms offer a range of innovative features designed to streamline and optimize your trading activities, especially for auto trading in TradingView. Let’s explore the key highlights of each Automator:
Finestel
Finestel’s TradingView bot, part of its comprehensive white label service, empowers traders and portfolio managers to seamlessly integrate TradingView’s advanced strategies into their trading activities via webhooks API access. This innovative tool enhances trading strategies and diversification options while maintaining Finestel’s commitment to low-cost and top-notch support, making it a valuable asset in the world of cryptocurrency trading.
3Commas
Enhance your trading prowess with copy trading, an intelligent trading terminal, customizable bots, and precise backtesting capabilities.
Cryptohopper
Unleash your trading potential with a strategy designer, a vast marketplace, paper trading for practice, technical analysis tools, and the ability to follow successful traders.
Gunbot
Seamlessly navigate multiple exchanges confidently using pre-programmed strategies, flexible customization options, comprehensive backtesting, and integration with TradingView.
Mudrex
Elevate your trading strategy with access to a dynamic marketplace, an intuitive strategy designer, robust backtesting, automated portfolio rebalancing, and real-time tracking of your trades.
Quadency
Optimize your trading performance through multi-exchange trading, intelligent order routing, pre-designed trading bots, comprehensive portfolio management tools, and data-driven backtesting.
These top-tier Trading Automators empower traders with automation, efficiency, and cutting-edge features to unlock their full trading potential on TradingView. Discover the perfect Automator to propel your trading journey and achieve your financial goals.
Auto trading in TradingView Infographic
Conclusion
In summary, auto trading in TradingView provides traders with increased efficiency, reduced risk, and improved performance. By utilizing software to execute trades automatically, traders can save time and focus on other tasks. However, risks such as market volatility, technical issues, data errors, and human error should be considered.
Automated trading services offer traders increased efficiency, reduced risk, and improved performance by automating trading processes and enabling rational decision-making. These services provide access to advanced algorithms and strategies, facilitating effective identification and capitalization of market opportunities. However, traders should be aware of potential risks, including market volatility, technical problems, data errors, and human error. By evaluating these risks and implementing appropriate risk management measures, traders can harness the benefits of auto trading in TradingView and optimize their trading outcomes.
FAQ
Does TradingView support auto trading?
Not directly, but you can benefit from manual configuration of the bot, alert, and connection with third-party trading automation.
How should I automate TradingView alerts into trades?
By using a trading bot, a webhook, and even a custom script on TradingView.
Can I run trading bots on TradingView?
You can run trading bots on TradingView or use third-party trading bot platforms that integrate with TradingView.
Do professional traders use TradingView?
TradingView is a popular charting platform offering professional traders a wide range of features.
Great list! However, none of your “Top 5 Trading Automators of TradingView” support forex, futures or stock trading.
Something like Tickerly, from your list of third-party providers, also supports Oanda, Capital.com or Alpaca if you want to automate a TradingView strategy for something else than Crypto.
Hey Justin. Thanks for your comment! This list is a bit more about crypto since Finestel is serving mainly in the crypto market. However, some of them support futures in crypto.
We will most probably publish another one for such services you mentioned supporting forex and stocks.