This step is essential if you want to use tradingview to automate your trading.
If you already have an account paying TradingView AND that you have activated two-factor authentication you can skip this step and move on to the next part
The three basic elements for automating our TopBot Anomaly strategies
To fully automate our TopBot Anomaly strategies without coding, we need three key elements:
- Trading-View, which allows us to install, adjust and backtest our strategies
- Our order intermediary, who acts as the link between trading-view and our broker, receives alerts and automatically transforms them into trading orders.
- Our broker, the trading platform where we deposit our funds and place our trading orders
To fully automate our trading, we'll leave a pre-set strategy running on TradingView, and when an alert is triggered it will be transmitted to our intermediary, who will send a buy or sell order to our broker depending on the situation. How simple is that?
Step by step, we'll learn how to adjust our strategy, our trading bots and our broker (yes, there are adjustments to be made there too) so that everything works according to plan and autonomously.
TradingView, what type of account?
TradingView can be used free of charge, but for our purposes the paid version will be too limited.
The cheapest paid option is enough to create up to 20 trading botseven if it lacks some important options. Once you've got the hang of it, the Premium account will better meet all the requirements for serene, passive trading.
Here are the important elements we need:
- Number of technical alerts (one technical alert = one trading robot)
- The number of historical bars for backtesting: the more history you have, the more effectively you can evaluate your settings over the long term.
- No-expiry alerts: Alerts are the basis for triggering your trading bots. Starting with the Premium package, you can set non-expiring alerts and never have to worry about them again.
In short, the entry-level account is sufficient for up to 20 bots and one year's trading history for timeframes of one to four hours (recommended). If trading becomes your main activity, you may want to consider upgrading to a Premium account. The intermediate account is of little interest to us.
TradingView (create an account)
If you already have an account paying TradingView AND that you have activated two-factor authentication you can skip this step and move on to the next part.
We'll start by creating our Trading-View account and activating the two-factor authentication that will come in handy later on. The TradingView application will allow us to run the strategy and backtest it historically, as well as sending alerts when it's time to buy or sell, depending on our strategy.
To simply consult strategyA free account is all you need. With this option, you can set your strategy, analyze it historically using the backtest and trade manually by receiving alerts on your phone, for example.
For fully automate your tradingAs we're about to learn, you'll need a paying account (the cheapest will do), which will enable you to use the webhooks which will send orders to your future trading robots. The entry-level account is currently €12.95 per month. Click on the link below to get the equivalent of one month's free trial.
Tip: There are often huge discounts for year-round subscriptions at the Black Friday on TradingView. If you take this course shortly before this date, you can take out a monthly subscription and wait for the promotion to an annual subscription.
1 - Go to TradingView
- Register for Trading-View (15$ of credit or more than a month free by following this link)
2 - Click on "Register for free".
3 - Choose your registration method
(We recommend registering by e-mail, but you can use any registration option)
4 - Check your e-mail address
An e-mail containing a link has been sent to the e-mail address used for registration.
5 - In the e-mail you have received, click on "Activate account".
6 - Choose a user name
This will be your public name. Then accept TradingView's terms of use and click "next".
7 - Choose a subscription plan (or stay on the free plan to simply try out the strategy, see free training)
As we've seen, the essential account is all you need to get started. Just make sure you renew your alerts before they expire, to avoid distorting your trading strategy.
Enable two-factor authentication
This step is essential if you want to automate your strategy and create trading robots, as we'll be using webhooks that require two-factor authentication to be used on TradingView. You'll also need a paid subscription to use them (the "Essencial" level is sufficient).
8 - Click on your account icon, then on "Account settings".
9 - Click on "Enable two-factor authentication".
10 - Choose the type of additional authentication (only one is required)
Next, we present authentication by authentication application but you may also prefer SMS authentication.
11 - A verification code in your mailbox has been sent
12 - Retrieve the code from your e-mail inbox
13 - Paste the code you received by e-mail and validate
14 - Download one of the authentication applications available on your phone and link it to your TradingView account.
- Download one of these applications from your phone (GooglePlay or AppleStore)
- From the authentication application on your phone, scan the QR code
- Enter the authentication application code
- Click on "Activate
Now, when connecting a new computer/phone, the authentication code your authentication application in addition to your password.
Congratulations, your TradingView account is ready to use, program alerts and send instructions to your trading bots via WebHooks.
We'll soon see how to import and apply the TopBot Anomaly strategy on TradingView, but we still have two important steps to take before all our elements are in place: Opening an account with our trading intermediary and opening an account with a broker.
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