In this tutorial, we will see how to create a bot and automate a strategy for free using webhooks.
For the sake of the tutorial, I will use a simple buy & sell strategy created with the Cyato H.A. Swing indicator. We will trade Bitcoin in the 8H timeframe.
3commas.exchange is the platform that allows us to create free bots. They are using the Binance broker program.
Note: it is recommand to use paper trading for your first steps.
Click on + Create bot. Make sure to select the Advanced tab. We will create a simple bot type on the USDT-BTC pair. We want our bot to automatically buy and sell BTC with USDT.
Now the strategy will be to Long BTC. We use "Base" Profit Currency since we want to see the results compared to our USDT equity. This is also where you choose the Base order size used by the bot. Here I used 50$ for the example, meaning the bot will buy & sell 50$ of BTC on each trade. I set the safety order size to 10$ but we aren't going to use this feature. Finally we use limit as Start order type to get a better entry price.
We do not want to use a take profit. Simply because our strategy will tell the bot when to sell. Since we cannot turn off this feature, let's write a huge value.
Stop loss is turned off by default, let it be. We aren't using the safety orders feature either, so leave it to 0.
This is all there was to configure for our strategy. We can now click on create bot. Don't forget to start your bot!
In your bot informations page, copy the message for deal start signal.
Now go back to TradingView. Create a new BUY alert. Make sure to use Once per bar close. Paste the message at the bottom and finally, in the webhook url, paste this url: https://3commas.io/trade_signal/trading_view
When all is good, create the alert. It should appear in the alert manager. A green circle means it is running.
The process is the same as for the BUY alert, although this time the alert message is the Message to close order at Market Price, and we select the SELL alert.
This is all there is to know to create a bot that buy & sell. If you have any questions, feel free to leave a comment.
3commas.exchange is a free version of 3commas.io, which includes more features like margin trading and allows to connect your bots to several exchanges.
Written by Cyato - 2020-03-21