Rajandran R Creator of OpenAlgo Sketchmaker, RagZ. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Now the recent curiosity on building Trading AI Agents.

Automate Your Trading with OpenAlgo and TradingView: A Step-by-Step Guide

1 min read

For traders seeking to automate their strategies, OpenAlgo and TradingView offer a powerful combination. OpenAlgo is an open-source algo-trading platform allowing seamless integration with various brokers and charting tools, including TradingView. By connecting these platforms, you can execute your TradingView strategies automatically without writing any code!

Here’s a step-by-step guide to get you started:

Prerequisites:

Step 1: Start OpenAlgo and Log In

  • Launch the OpenAlgo application.
  • Open a web browser and navigate to the OpenAlgo host URL (typically http://127.0.0.1:5000/).
  • Log in using your OpenAlgo credentials.

Step 2: Choose Your Broker

  • Upon successful login, you’ll be presented with a list of supported brokers. Select your preferred broker and complete the necessary authentication steps.

Step 3: Download Master Contract and Access TradingView Tab

  • Wait for the master contract to download successfully. This contract facilitates communication between OpenAlgo and your broker.
  • Once downloaded, navigate to the “Tradingview” tab within the OpenAlgo interface.

Step 4: Generate TradingView JSON Message

  • In the TradingView JSON Generator section, enter the OpenAlgo trading symbol for the instrument you want to trade.
  • Select the appropriate exchange and product type (e.g., MIS, CNC).
  • Click “Generate JSON” to create the message your TradingView strategy will send to OpenAlgo.
  • Copy the generated JSON message.

Step 5: Create a TradingView Alert

  • In TradingView, open the chart with the strategy you wish to automate.
  • Access the “Indicators & Strategies” menu and select your chosen strategy.
  • Click on the three dots next to the strategy name and choose “Add alert on…”.
  • Select the strategy name as the condition for the alert.
  • In the “Alert message” box, paste the JSON message you copied from OpenAlgo.
  • Optionally, you can configure the alert with a specific expiration date or choose to trigger it “Every Time” the condition is met.
  • Under “Notifications,” select “Webhook URL” and paste the TradingView Webhook URL provided by OpenAlgo. This URL directs the alert message to the OpenAlgo platform.
  • Click “Create” to finalize your alert setup.

Step 6 (Optional): Configure Trading Quantity

  • If your strategy requires a specific trade quantity, return to the “Indicators & Strategies” menu in TradingView.
  • Right-click on your strategy and choose “Properties.”
  • Adjust the “Order size” parameter to your desired quantity.
  • Click “OK” to save the changes.

That’s it! You’ve successfully connected your TradingView strategy to OpenAlgo for automated trading. Now, whenever your strategy generates a buy or sell signal, the corresponding order will be automatically placed through your chosen broker. Remember, OpenAlgo’s open-source nature empowers you to explore, modify, and customize the platform to suit your specific trading needs.

Rajandran R Creator of OpenAlgo Sketchmaker, RagZ. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Now the recent curiosity on building Trading AI Agents.

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More