How to use TradingView Custom Signals

In recent posts, we covered various Technical Analysis indicators, their meaning, and how to apply them to your trading strategies. Some may feel that these articles are too complicated and are only useful for experienced traders. This is not entirely true — and to prove it, we would like to provide a detailed, step-by-step tutorial showing everyone, regardless of skill level, how to leverage the 3commas platform by integrating custom technical analysis indicators and signals.

What is TradingView and Custom Signals?

Experienced traders who execute market orders manually, develop their strategies over time but they all rely on fundamental, technical analysis, or a combination thereof. Using a combination of technical indicators, often evaluated on different time-frame charts, they open and close transactions manually. While hundreds of specialized services and trading experts have flooded the Internet offering free or paid tips and trading signals, we believe that continuous learning, research, and consultation with fellow traders in our community is a much better long-term strategy.

TradingView is a cloud-based charting and social-networking software for both beginner and advanced active investment traders. Basic charting, research, and analysis information is available with a free account, but most trades must be done outside the platform because only select brokerages are linked to TradingView at this time. What is important to us is that TradingView includes over one hundred indicators for a thorough analysis of the markets that cover the most popular trading concepts. For advanced users, the site offers the ability to create custom indicators and signals in the Pine programming language. For beginners, TradingView provides sufficient indicator templates, simple integration and the ability to test the resulting strategy.

Regardless of skill level concerning Technical Analysis, managing multiple trades for various tokens on different exchanges remains difficult and time-consuming. We believe that the combined intelligence of charting systems such as TradingView, and 3commas’ automated trade execution bots, provides a unique advantage and higher profits.

How it works

The base principle is to associate a Bot with a chosen indicator, or several indicators as most trading strategies dictate. The bot receives alerts when price-action matches the conditions set for the selected technical indicators and instantly executes the market order without manual intervention or supervision.

As mentioned before, TradingView includes many tools and technical indicators which generate the required alerts or signals. For convenience, we will remain consistent with the TradingView naming convention.

Alerts on TradingView are “one-time” and “recurring”. Duplicate signals could be generated within a short time frame in highly volatile markets. These will cause attempts to re-launch the transaction or panic sell. When choosing a Recurring signal, make sure that this is desirable in the context of your trading strategy or current market conditions.

IMPORTANT: The bot will not be able to create a new trade if:

• You have not enabled the bot;
• When the signal arrived, the bot had already reached the maximum number of open trades;
• By the time the signal arrived, you had changed the strategy of the bot;
• When setting up the TradingView signals, you specify a trading pair that is not in the list of the bot (for composite bots)

A 7-Step Setup

If you are familiar with Technical Analysis you can follow the 7-step process for indicators of your choosing, or scroll down for a simple example that leverages the Stochastic and RSI indicators. So, you need to earn custom signals TradingView:

3 steps in 3commas:

• Go to 3commas, “ My bots ”. When you create or edit a bot, the system asks you how to open a trade. This is called the “start of transaction condition”. There you select “Custom Signal TradingView”;
• Staying in 3commas, go to the bot view page, find the “Message for the signal to start a deal” and copy the setting. If you are running a composite bot (multiple pairs), edit this line: indicate which pair to track.
• In the next tab, duplicate the bot view page and find the “Message for panic sell signal”. If you are driving a composite bot, just edit this line, specifying which pair is to receive signals

4 steps in TradingView:

In the next tab, go to the website TradingView and:

• Open the settings, find the “E-mail to send SMS” field and enter the address signals@robot.3commas.io ;
• Create a TradingView notification. To do this, specify the method “Send email-by-SMS”;
• Create a TradingView notification to start a transaction. To do this, in the “Message” copy the setting from step 2.
• Create a TradingView Panic Sell notification to close the transaction: in the “Message” field, just copy the line from item 3.

Bingo!

https://youtu.be/sOOpd8lWGk8

The 7-Step setup with screenshots

3 steps in 3commas:

1. We connect custom signals to the bot.

Create or edit a bot — find the “Conditions for starting a deal” — click on “ Custom TradingView signal ”. It can not be used in conjunction with other strategies.

Verify to make sure the is enabled.

2. Message for the signal.

Go to the bot view page — Locate the table for the “Transaction Start Condition” — the “ TradingView Custom Signal ”should appear. New lines should appear in the same place: “ Message for the signal to start a trade ” and “ Message for the signal panic sell ”.

In a simple bot, it looks like this:

Here you cannot edit anything. When a bot receives a signal, it will open a new trade for the specified pair.

For a composite bot, it looks like this:

In a composite bot, you need to check which pair is listed: there must be one for which the notification is intended. Check that it is present in the list of trading pairs that is displayed above:

When the bot receives a signal, it will open a new trade for the pair selected in the previous step.

3. Message for the Panic Sell Signal

Simple bot

Copy the line “Message for panic sell signal ” and prepare to insert a notification on the TradingView without any changes.

Composite bot

Change the pair to the one for all open transactions for which you plan to apply Panic Sell.

How does panic sell work?

The bot reacts to a Panic Sell signal in different ways depending on the status of that particular trade:

• If the transaction is in “Bought” status, the bot executes the panic sell.
• If the bot has not executed a base order transaction yet, it will simply cancel it.
• If a Stop Loss or Panic Sell transaction has already started, nothing will change.
• Also, nothing will happen if the transaction is already completed in any other way.

4 steps in TradingView

Go to https://tradingview.com Login into your account or register

1. Configure the notification to be received in 3commas mailbox

Go to profile settings, then to “ Confidential information “ and “ E-mail to send SMS .” There you enter signals@robot.3commas.io and click “ Save Changes .”

2. Configure a specific notification.

Open the chart page for a specific pair, click on the clock icon — the Alert Management panel will open on the right.

Click on the “plus” button — a window with notification settings will open. The same window will open if you right-click anywhere on the chart and select “Add Alert”.

Then check everything:

In order for this signal to be delivered to the specified 3commas mailbox and to be processed correctly, you need:

3. In the “ Actions “ section checkmark “ Send email-by-SMS “. The state of the other checkboxes in this section does not affect the reception of the signal.

4. You need to take the text from the “ Message for the signal to start a deal “ or “ Message for the panic sell signal “ from the bot view page and copy it into the “Message” field. Again, remember that for composite bots you need to verify that the specific trading pair for which you are setting the signals is actually listed.

Once done, click “ Create “. The alert will appear in the “ Manage Alerts “ panel.

When the notification works, the bot will start a new deal or panic sell, depending on market conditions and the settings in the “Message” field.

Check if you have selected a one-time or recurring signal.

How to disable Custom signals

There are two ways to disable TradingView’s custom signals for a specific bot:

• Turn off the bot. Go to the bot view page and click “ Turn Off “.
• Change the strategy to any other in which case trades will no longer be triggered even if TradingView signals are still being received.

It’s time now to practice by setting up Custom Signals using the top technical indicators — Stochastic and/or RSI.

How to connect the Stochastic Indicator with the bot

Stochastic shows when the trend could reverse and gives signals to enter or exit the market.

You can read more about this particular indicator and related strategies in our earlier blog: “The meaning and value of the Stochastic Oscillator: How it works, When it is useful, and How to integrate it with the bot settings.”

How to connect Stochastic to 3commas bot:

1. Login to TradingView

2. Choose the trading pair

3. Configure the bot (see “3 steps in 3commas”):

• When creating or editing a bot in the “condition of the beginning of the transaction”, select “Custom signal TradingView”;
• On the bot view page, copy the contents of the “Message for a signal to start a deal” field, — For a composite bot, you need to specify which pair to track.
• Get ready to copy the “Message for the panic sell signal” and edit the line for the composite bot in the same way.

4. In TradingView, open the chart for the chosen pair, add a signal via Stochastic.

5. Right-click on it and add a notification:

6. Select a condition for opening a deal: the intersection of% K and% D or the rise or fall to the oversold or overbought zone. In the example below, the bot will open long trades when falling to the oversold zone:

7. Insert the bot message to start the transaction in the alert message.

8. Sit back and be proud of your accomplishment

How to connect the RSI indicator with the Bot

RSI is also a top indicator included in most trading strategies.

1. Login to TradingView

2. Choose the trading right pair

3. Configure the bot (see “3 steps in 3commas”):

• When creating or editing a bot in the “condition of the beginning of the transaction”, select “Custom signal TradingView”;
• On the bot view page, copy the contents of the “Message for a signal to start a deal” field, for a composite bot, you specify which pair to track.
• Get ready to copy the “Message for the panic sell signal” and edit the line for the composite bot in the same way.

4. Add RSI to the chart:

5. Right-click on any place on the RSI indicator, add a notification:

6. Select a condition and enter the value. For example, “Transition to the zone of the purchase”, crosses 70 from below:

7. Perform the rest of the custom signal setup using the same instructions:

• Paste the copied message for the bot in the “Message” field of the alert
• Choose “Send an email to SMS”,
• Select the signal frequency: for “Only once” for one time, or “Once per bar close” for recurring.

You can also connect an RSI notification in PineScript:

This will give you more options. For example, make a signal on two or more indicators.

The script itself:

// @ version = 3
study (title = “RSI_Custom”, overlay = true)
rsi = rsi (close, 14 )
buy_signals = rsi < 30
sell_signals = rsi> 70
plotshape (buy_signals, style = shape.triangleup, text = “up”)
plotshape (sell_signals, style = shape.triangledown, text = “down”)
alertcondition (buy_signals, title = ‘rsi < 30 ‘, message = ‘RSI is below 30 ‘)
alertcondition (sell_signals, title = ‘rsi> 70 ‘, message = ‘RSI is above 70 ‘)

It is easy to change it’s logic by replacing the numbers :
red (3) — long RSI indicator
orange (bold) — indicates the RSI value for the purchase notice
blue (italiс) — RSI values for a sales notice

To add to the schedule

1. On TradingView, open the Pine Editor

2. Paste the script text there

3. Click “Add to Chart” in the upper right of this editor. Arrows appear on the chart, so the script has been successfully added.

To create an alert

1. Click alert at the top of the chart or through the right mouse button> add alert

2. In Condition, select RSI_Custom

3. For a sell signal, select rsi> 70, for buy rsi < 30

4. The remaining settings are standard for custom signals. Insert a bot message for buying/selling, depending on the chosen indicator. Choose “Send email-to-SMS”, “once per bar close”.

One more cool script:

// @ version = 3
study (title = “RSI_Custom_1”, overlay = true)
rsi = rsi (close, 14 )
buy_signals = crossover (rsi, 30 )
sell_signals = crossunder (rsi, 70 )
plotshape (buy_signals, style = shape.triangleup, text = “up 1”)
plotshape (sell_signals, style = shape.triangledown, text = “down 1”)
alertcondition (buy_signals, title = ‘rsi < 30 ‘, message = ‘RSI is below 30 ‘)
alertcondition (sell_signals, title = ‘rsi> 70 ‘, message = ‘RSI is above 70 ‘)

The differences are actually small, so feel free to experiment with other settings.

Differences:

• A sell signal appears only when the RSI is out of the overbought zone.
• A buy signal is received only when the RSI leaves the oversold zone. Signals will be less, but they can be better\more reliable.

Follow the link and try it yourself.

Still unsure? — please join our chat where you can ask for advice or share your experience with fellow traders at any time.

10% discount on promo code “USERNEW”

We wish you all the best!

3commas fam.