How to Automate TradingView.com with Binance to Automatically Buy and Sell Based on Indicators

Ah, the sweet taste of automation! Imagine having a trading system that buys and sells cryptocurrencies based on your favorite indicators, without you having to lift a finger. Sounds like a dream come true, right? Well, dream no more! In this article, we’ll show you how to automate TradingView.com with Binance to automatically buy and sell based on indicators. Buckle up, folks!

What You’ll Need

Before we dive into the juicy stuff, make sure you have the following:

• A TradingView.com account (free or paid, doesn’t matter)
• A Binance account (you’ll need API keys)
• Patience and a willingness to learn (this is a comprehensive guide, after all)

Step 1: Create a TradingView Alert

In TradingView, create a new chart for the cryptocurrency you want to automate trading for (e.g., BTC/USDT). Add your favorite indicator(s) to the chart, and adjust the settings to your liking. We’ll use the popular RSI indicator as an example.

Create a new alert by clicking the “Alerts” button in the top-right corner of the chart, then click “New Alert”. Set up the alert as follows:

Alert Name: RSI Buy Signal
Condition: RSI(14) crosses above 30
Frequency: Once per bar close

This alert will trigger when the RSI indicator crosses above 30, indicating a potential buy signal. Repeat the process to create a sell alert when the RSI crosses below 70.

Step 2: Create a TradingView Webhook

In TradingView, navigate to the “Alerts” section and click the three dots next to the alert you created. Click “Edit” and scroll down to the “Webhook” section. Enable the webhook and set the following:

URL: https://api.binance.com/api/v3/order/test
Method: POST
Headers:
  - Key: X-MBX-APIKEY
    Value: YOUR_BINANCE_API_KEY
  - Key: X-MBX-SECRET-KEY
    Value: YOUR_BINANCE_SECRET_KEY
Body:
  - symbol: BTCUSDT
  - side: BUY
  - type: LIMIT
  - timeInForce: GTC
  - quantity: 0.01
  - price: 35000

Replace `YOUR_BINANCE_API_KEY` and `YOUR_BINANCE_SECRET_KEY` with your actual Binance API keys. The `symbol`, `side`, `type`, `timeInForce`, `quantity`, and `price` parameters will be explained later.

Step 3: Set up Binance API Keys

In your Binance account, navigate to the “API Management” section and create a new API key pair. Name the key pair “TradingView Webhook” and enable the “Spot” trading permission. Take note of the API key and secret key, as you’ll need them later.

Step 4: Create a TradingView PineScript Strategy

In TradingView, create a new PineScript strategy by clicking the “Pine Editor” button in the top-right corner of the chart. Name the strategy “RSI Buy Sell Strategy”. Delete the default code and paste the following:

//@version=5
strategy("RSI Buy Sell Strategy", overlay=true)

length = input(14)
overSold = 30
overBought = 70
src = close

rsi = ta.rsi(src, length)

if (rsi < overSold)
    strategy.entry("Buy", strategy.long)

if (rsi > overBought)
    strategy.close("Buy")

alertcondition(rsi < overSold, "RSI Buy Signal", "Buy")
alertcondition(rsi > overBought, "RSI Sell Signal", "Sell")

This script uses the RSI indicator to generate buy and sell signals. The `strategy.entry` and `strategy.close` functions create simulated trades, while the `alertcondition` functions trigger the webhook alerts.

Step 5: Connect TradingView to Binance

In TradingView, navigate to the “Alerts” section and click the three dots next to the webhook you created. Click “Edit” and set the following:

Condition: RSI Buy Signal
Action: Webhook

Repeat the process for the sell alert, using the “RSI Sell Signal” condition.

How it Works

Here’s what happens when the webhook is triggered:

1. The RSI indicator crosses above 30 (buy signal) or below 70 (sell signal)
2. The webhook alert is triggered, sending a POST request to the Binance API
3. Binance receives the request and creates a new order (buy or sell) based on the parameters set in the webhook body
4. The order is executed on the Binance exchange, buying or selling the specified cryptocurrency

Tips and Variations

Here are some tips and variations to take your automation to the next level:

• Use multiple indicators: Combine the RSI with other indicators, such as Moving Averages or Bollinger Bands, to create a more robust trading strategy
• Adjust the webhook body: Customize the order parameters, such as the symbol, side, type, and quantity, to suit your trading needs
• Use TradingView’s PineScript functions: Leverage PineScript’s built-in functions, such as `ta.cross` or `ta.crossover`, to create more complex trading strategies
• Monitor and adjust: Keep an eye on your automated trading performance and adjust the strategy as needed to optimize results

Conclusion

Voilà! You’ve successfully automated TradingView.com with Binance to automatically buy and sell based on indicators. Pat yourself on the back, because you’ve just entered the world of algo-trading!

Remember, automation is a double-edged sword. It can provide convenience and efficiency, but it also requires careful planning, monitoring, and adjustments to optimize results. Keep learning, keep improving, and happy trading!

Indicator	Settings	Webhook Body
RSI	Length: 14, OverSold: 30, OverBought: 70	symbol: BTCUSDT, side: BUY, type: LIMIT, timeInForce: GTC, quantity: 0.01, price: 35000
Moving Average	Length: 50, Source: Close	symbol: ETHUSDT, side: SELL, type: MARKET, timeInForce: IOC, quantity: 0.05, price: 1500

Example indicators and webhook bodies for inspiration. Feel free to experiment and customize to your heart’s content!

Frequently Asked Question

Automating trading on TradingView with Binance can be a game-changer for traders. Here are some frequently asked questions and answers on how to do just that!