Create No Code Auto Trading Bot with Tradingview and OKX

Hello Everyone,

In this tutorial, we learn about how to create simple auto trading bot using tradingview alerts and OKX exchange built in integration mechanism.

Few exchanges have come up with this kind of direct integration from tradingview alerts to exchanges and as part of this tutorial, we are exploring the interface provided by OKX.

In this session, we have discussed

🎲 Preparation Steps

Preparing tradingview account

1. Webhooks are only available for essential plans and plus.
   
2. Enable 2FA in your tradingview account.
   

Preparing your OKX account

1. Create OKX account, and we prefer you do the initial tests under demo account before moving to active trading account.
   
2. Bots created in demo account will not appear in the active trading account. Hence, when switching to active account, you need to create all the setup again.
   

🎲 OKX Tradingview Interface Features

What is supported

1. Auto trading based on strategy signal
   
2. Custom signals - Enter Long, Exit Long, Enter Short, Exit Short
   

What is not supported:

1. Stop/Limit orders
   
2. Bracket orders/ Complex execution templates
   

🎲 Weighing Pros and Cons of Using Direct Interface rather than Third party integration tools

Pros

1. Latency is minimal as per our observation
   
2. Easy Integration with Tradingview and Pinescript Strategy Framework and no coding required
   
3. You save cost on third parties and also avoid one hop.
   
4. More secure as your data is shared between less number of parties.
   

Cons

1. No native support for Stop/Limit orders