TradingView
3Commas is a flexible tool for customizing your trading strategy but how exactly is this flexibility achieved?
One of the elements that provide the most accurate settings for trading is TradingView's custom signals
TradingView is the largest technical analysis platform in the space. Beginners can take advantage of TradingView's extensive functionality, which includes more than 100 indicators for the best analysis of asset price behavior, as well as the ability to test trading strategies. The platform allows advanced users to create custom indicators and signals.
How do custom TV signals work?
You connect the bot to one or more indicators of your choice, and the bot starts to receive alerts and open trades.
As you may have guessed, TradingView includes many tools, which can be used as a base for the signals. The signals themselves can be one-time or repetitive (“every-time”).
An example of the one-time signal use would be opening a trade at a breakout/retest of the resistance level.
Example
In the chart below, we see the BNB / USDT trading pair on the Binance exchange. The formed flat triangle is indicating an upcoming breakout. As we know, entering at a breakout is not the best strategy, while buying at a retest is the choice of champions. To buy at a retest, we use the "down-crossing" condition on TV 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. You can choose to add to your position each time a candle touches the white resistance line. This will allow you to put a tight stop-loss and maximize the profit ratio versus possible losses.
After you set everything up, your 3Commas bot will start receiving signals from TradingView and bringing profits.
What are the charges?
3Commas provides a free 3-day trial period, which provides you with all available functions. Everyone likes to “try before they buy”, right?
TradingView provides free basic functions (those include
a limited number of alerts).
a limited number of alerts).
How to get richer in 5 simple steps
2 steps on 3Commas platform and 3 on TradingView
Let's start with 3Commas:
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1.
Open the DCA bots tab and create a new bot. At the "Trade Start Condition" stage, select "TradingView Custom Signals"
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2.
Next, go to the bot viewing page, find "Message for Deal Start Signal" and "Message to close order at Market Price”
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Moving on to TradingView:
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3.
Open the "Alerts" tab, find and check the "Webhook URL" checkbox. Next, enter the URL: https://3commas.io/trade_signal/trading_view
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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
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5.
Now 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, 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 problems you may have!