In this review, we are going to look at the trading platforms that allow you to automate TradingView strategies. But before we look at the services, let's clarify the actual process that you may be looking to automate.
In TradingView, it is possible to create a strategy, code it in PineEditor and apply it to chart. Strategy may include various indicators and algorithms that would trigger buy or sell orders at specific points in time. Such strategy can then be converted into a study with alerts to take place when buy or sell order should be executed according to the algorithms you created.
Alerts can be implemented in several ways: email, site notification, SMS or sent via webhook.
If your strategy is profitable you will probably want to automate it. Thus, when an alert takes place it will trigger a connected trading terminal that can receive such alert messages from TradingView and execute an order on the connected exchange (normally done through API).
To summarise, you will need:
- TradingView account
- TradingView strategy
- Cryptocurrency exchange account (e.g. Binance)
- Trading platform that can handle alerts from TradingView and can execute an order on the exchange you trade.
When it comes to choosing a trading platform that can handle alerts from TradingView and have Trading Terminal you will find that most platforms have more features than just for this matter and some of them are pretty expensive.
In this review we will look at 6 platforms: Wunderbit Trading, Zignaly, Zigz, 3commas, GunBot and Tradingbot-Solutions. All platforms except for the last one have advanced trading terminal, which is always handy if you need to do manual trades.
Next, Marketplace, on all platforms it brings more or less the same functionality – traders can sell their bot strategies as well as offer their trading activity to be copied. Traders can specify commission that they would be willing to receive. Again all mentioned platforms except for Tradingbot-Solutions offers that.
GunBot stands out in terms of pricing, it is not only expensive but also provides one of the most professional trading terminals and various bots and signals. So the cost may be very reasonable if you really understand what you need.
Finally, pricing. The most important issue for most people and especially for those who do not have a significant amount of cryptocurrencies on their balance. There is only one free solution that is free – Wunderbit Trading that doesn't have monthly subscriptions. Platform earn by having 1% of profits when copy-traders pay to traders for profitable trades. Team behind Wunderbit Trading also trade on its platform having account accounts in 3 base cryptocurrencies (Bitcoin BTC, Ethereum ETH, Tether USDT), as well as employing bots. That means trading terminal, copy trading and bots are free for all users. In the table, you can see other alternatives with specified monthly subscription cost.
Another thing that adds credibility to Wunderbit – is its exchange, where you can buy and sell bitcoin, as well as other cryptocurrencies with credit card, bank account transfer or Skrill with just 1% commission.