TradingView
3Commas is a flexible tool for customizing your trading strategy but how exactly is this flexibility achieved?
TradingView is the largest technical analysis platform in the trading space. Beginners can take advantage of TradingView’s extensive functionality which includes more than 100 indicators for the best analysis of asset price behavior in addition to testing trading strategies. The platform also allows advanced users to create custom indicators and signals. At last, traders can use TradingView’s tools for global markets research, such as the Stock screener or Economic calendar, to find the best assets for analysis.
Learn more about manual trading with TradingView
How do custom TradingView signals work?
You connect your bot to one or more TradingView indicators of your choice, and the bot will automatically receive alerts and open trades accordingly.
TradingView includes many tools which can be used as a base for the signals. The signals themselves can be one-time or repetitive (“everytime”).
An example of a one-time signal use would be opening a trade at a breakout/retest of the resistance level.
Example
The chart below displays the BNBUSDT trading pair on Binance and the formed flat triangle is indicating an upcoming breakout. Entering at a breakout is typically not the best strategy whereas buying at a retest is the “choice of champions”. To buy at a retest, we use the "down-crossing" condition on TradingView and wait for a retest of the blue resistance line, which turns into support upon breakout.
Repeating signals can be used to increase a position at a dynamic support level when the asset price's value changes over time.
For example, in the chart below you can see the formation of a triangle and you can choose to add to your position each time a candle touches the white resistance line. This approach enables you to set a tight stop-loss, optimize gains, and minimize potential losses.
After setting everything up, your 3Commas bot will begin receiving signals from TradingView, and with proper execution, positive outcomes will ensue.
What are the charges?
3Commas provides a full-access 3 day trial period. Everyone likes to “try before they buy”, right?
5 simple steps to achieve success
Starting with 3Commas:
1. Open the DCA bots tab and create a new bot. At the "Trade Start Condition" stage, select "TradingView Custom Signals"
2. Go to the bot viewing page and find "Message for Deal Start Signal" and "Message to close order at Market Price"
Next, go to TradingView:
3. Open the "Alerts" tab, find and check the "Webhook URL" checkbox and enter the URL: https://app.3commas.io/trade_signal/trading_view
4. Create a TradingView notification to initiate a trade. To do so, paste the "Message for Deal Start Signal" setting from step 2 into the "Message" field
5. Now that you have created a signal to start a trade with your bot, you now should create a signal to tell the bot when to close the trade. To do this, create another TradingView notification and this time it will close your open trade via the Close Order Signal. Repeat steps 3 and 4 but this time, paste the "Message for to close order at Market Price” setting from step 2 into the "Message" field
Done! You have created a bot that will trade based on your custom TradingView signals. Remember, if you need help at any time, please contact our fantastic support team that is ready and waiting to help with any queries, questions, or concerns you may have!
