You can deploy complex Algos using TradingView’s simple web charts. The best part is that it requires zero programming knowledge. Simple or sophisticated derivative Algos can be deployed in simple English using TV Alerts.
Add FYERS API Bridge Extn for Google Chrome Webstore. You will see the grey alpha icon. This extension works only on TradingView website. When you open tradingview.com, the icon turns red.
Under Symbol Settings, fill all relevant columns (do not leave blank OrdType, Quantity etc). Also, you should carefully review Signal Settings and Risk Management before starting to trade. It is prudent to first practice in Paper Trading before placing live orders.
On TradingView charts, you can place trades for strategy in which you can create alerts. When you click the extension icon on TradingView chart, it will turn green. You will also see a message in Bridge about the connection with TradingView.
After settings, the conditions for alert, scroll down and use the Message box to configure your Algo. In the message box, you can type signal details like Symbol, Type, Price etc.
Once the alert conditions are triggered, the TV Connector pushes Signal in Bridge, which places buy/sell orders.
In the alert message box, you can define the following, each on a new line. All constants such as SYMBOL/TYPE should not be misspelt.
SYMBOL: (Mandatory. Provide here your own symbol which also needs to be provided in API Bridge in Symbol Settings)
Copy the following values in the alert message box:
SYMBOL: SBIN
TYPE: LE
In APIBridge, enter the following values:
Copy the following values in the alert message box:
SYMBOL: SBIN
TYPE: LE
PRICE: 310 (If you do not know the price, put day low to get the order filled)
In APIBridge, enter the following values:
SYMBOL: SBIN
TYPE: LE
PRICE: 310
TRIG: 305 (TRIG is used for trigger price, and PRICE is used for limit price in SLL order)
SYMBOL: SBIN
TYPE: LE
TRIG: 305
SYMBOL: SBIN
TYPE: LE
PRICE: 310
SL: 5
SYMBOL: SBIN
TYPE: LE
PRICE: 310
SL: 5
TGT: 10
SYMBOL: NIFTYCALL
TYPE: LE
SYMBOL: NIFTYCALL
TYPE: LE, SX
(put entire text below in the same message)
SYMBOL: NIFTYCALL
TYPE: LE
SYMBOL: NIFTYPUT
TYPE: LE
(put entire text below in the same message)
SYMBOL: NIFTYCALLA
TYPE: LE
SYMBOL: NIFTYPUT
TYPE: LE
SYMBOL: NIFTYCALLB
TYPE: SE