TradingView was launched in 2011 with the purpose of uniting traders all over the world in an open platform for the exchange of information and investment ideas. As conceived by the developers, the platform was supposed to combine trading and analytical functions and give traders the opportunity to communicate online with each other
Nowadays TradingView is recognized as the best analytical platform due to the wide range of possibilities:
- Trading cryptocurrencies, stocks, futures and various currency pairs.
- Complete technical analysis with the widest possible range of tools, technical indicators, patterns and ready-made strategies. The charts are intuitive for beginners, and experienced investors will find everything they need. You can simply look at stock prices or analyze price patterns with complex scripts – the choice is yours.
- Track main economic news, corporate events and other important information in the newsfeed, macroeconomic statistics calendar and company reports calendar. The platform allows you to add not only stock, currency and cryptocurrency accounts, but also download quotes, news, economic calendars and other data from global markets.
- Exchange opinions and investment ideas in chat, as well as publish your own investment ideas. By registering on the platform, a trader becomes part of the largest social network for traders and investors.
- Pine Script is a programming language which was created not only to be able to write technical analysis indicators and strategies but also to share them.
Another advantage of the platform lies in the number of available tools and settings. For example, technical indicators are used to determine trends in the market with mathematical algorithms for processing price data (e.g. moving average). TradingView has more than a hundred built-in indicators.
How do I automate trading on TradingView?
Like any platform, TradingView has the ability to automate deals of traders to buy and sell cryptocurrencies. It works in the following way:
TradingView has its own PineScript programming language, using which anyone can automate a trading strategy by creating special software called TradingView bots for cryptocurrency trading. The strategy can include various indicators and algorithms that trigger buy or sell orders at specific points in time or when some events occur. Almost any strategy can be automated, thereby facilitating the routine operations of buying and selling digital assets.
How does it work?
TradingView works on trading signals. It is a notification that it is a good time to trade a particular digital asset. The principle of the TradingView signals bots is as follows: you connect the bot to the chosen indicator, or to several indicators. In the next step, the bot begins to receive notifications about these signals and uses them to open and close trades, doing everything that the trader does, while saving a fair amount of time and effort.
The bot is bound to TradingView using an API – a mechanism that allows the two software components to communicate with each other using a set of definitions and protocols. Using the API you can connect bots to different exchanges and trade on different platforms using your exchange account.
Everyone can either create a tradingview bot trading by himself using the programming language built into the platform or buy a ready-made product if developing the software is difficult. There is another way to get such a bot: using special trading platforms, which allow you to configure your own trading robot in a few clicks, using the strategy you have specified. This does not require deep programming knowledge, and the interface for setting up such systems is straightforward and uncomplicated.
For example, the WunderTrading platform provides users with such an opportunity. In addition to creating trading robots, it allows you to trade by yourself using a professional terminal and copy strategies of other successful traders. This is where you can create the best TradingView bot to increase the income from your actions on the exchange.
In other words, the platform helps to automate any TradingView scripts into a workable trading bot for crypto-trading. The TradingView robot is set up in seconds, thanks to the special software.
In conclusion, we can say that the TradingView platform is simple and clear for beginners and powerful for experts in the analysis, and it has all the tools to create and test any trading ideas. If you want to take full advantage of its features, use trading automation – by understanding how trading bots work you can achieve high results in trading and increase your profits.