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Autotrading - Setting Up Automated Trading Bot via PineConnector

Analyzing a difficult trade after it's closed is much less stressful than watching it dance!

          Automating trading strategies brings several advantages. Beyond the convenience of not having to monitor the markets constantly, it eliminates the emotional aspect of trading. Emotions such as stress, anxiety, or impulsive decision-making can adversely affect trading outcomes. Automation ensures that trades are executed based on pre-defined rules without the interference of emotions.

    Trading automation also empowers:
  • Fast-scalping strategies, involving trades executed within seconds, heighten the risk of errors, such as mistakenly going long at short signal.
  • Engaging in trading markets that operate 24/7, such as FOREX or Crypto, allowing trades to run overnight or close during nighttime hours.
  • Much less stressful, while much more pleasing trading experience.

Autotrading Video Guide

See how it works LIVE (Live Trading Session)!

    Setting Up Autotrading

  • Get our Trading Indicator and the Strategy Configuration.
  • Open an account with PineConnector. Follow this documentation to install and configure MetaTrader. Make sure your Broker is compatible with MetaTrader platform.

          VPS (Virtual Private Server) is suggested as MetaTrader app requires a running computer with internet connection - Windows VPS is exactly that (typical computer may suddenly restart, lose internet connection, etc.)
  • Add our indicator in TradingView and set the input settings per chosen strategy configuration.
          For Intraday strategies, check with your Broker - when exactly is the cut off time before trades can be open/closed for traded symbol.
          For example, SPY can be closed 15minutes after market closes (4:15PM ET), while AAPL must be closed before market closes (4:00PM ET). For Futures, if trade is left open overnight - bigger margin is required! If trades need to be closed right before market trading session ends, our indicators include "EOD(End of Day) Close - 1 candle bar before last" feature, which if "EOD(End of Day) Close" is turned on - it will alert/close the trade 1 candle bar before market close candle bar (EXAMPLE: for 5minute TimeFrame, 'NY_withPW(EDT)' Trading Session, with this feature turned on - trades will be closed at 3:55pm ET).
  • Open Indicator Settings > Input > scroll down to the Alerts section and check [x] "Include PineConnector alerts"
    • Enter your PineConnector LicenseID, Symbol and Trade Size:
             - LicenseID: Make sure that LicenseID matches exactly your PineConnector account.

             - Symbol: Symbol must match exactly as it is within MetaTrader (In MetaTrader > hit Ctrl + U > search for correct symbol, then copy/paste it into the Indicator within TradingView, for example, at AMP Broker, for MICRO-E MINI RUSSEL 2000 INDEX FUTURES, for contracts expiring in March 2024 it's M2KH24, FOREX and Stocks symbols will not expire and should stay the same unless Broker changes it)

             - Trade Size(In TradingView it's named 'Trade Size', in PineConnector: 'Risk' and in MetaTrader: 'Volume'): Ensure trade size is correct, for indices/stocks/crypto: "Trade Size" will be the amount of shares bought/shorted; For FOREX: depending on the account size, "Trade Size" will represent the position LOT size. (More details in PineConnector Volume Type documentation). NOTE: It is very important to put in the correct trade size, which is supported by the Broker and which is dividable by the # of TPs. If it will be incorrect - the order will simply not go through (Either the trade will not open at all or Partial TP (Take-Profit) will not be taken)!
    • To test the setup without risking real money - try it out with DEMO account first! Otherwise, you can deliberately input an incorrect symbol to the indicator. This intentionally triggers the trade signal to halt at the PineConnector server, preventing actual market execution. This method provides a secure way to assess the setup's functionality before engaging in live trading.
    • While our indicators implement full-cycle trades (from trade open to trade close), some brokers require SL (Stop-Loss) to be set immediately at trade open. Check [x] the "Include Pineconnector SL (Stop-Loss) Filler", to include an Stop-Loss immediately at trade open with adeqate "Pineconncetor SL Filler - Percentage", it should be big enough to cover the indicator's SL (Stop-Loss) (30% is a good number to start with, can always verify if the immediate SL (Stop-Loss) Filler is not far enough after a trade is open and adjust as needed). Make sure that under MetaTrader EA (Expert Advisor) > Inputs > Syntax > Target Type (sl= and tp=) is set to "Percentage".
  • Right-click anywhere on the TradingView chart > click "Add Alert" > Select indicator by it’s name, set condition: "alert() function calls only".
  • Switch to "Notifications" tab and ensure "Webhook URL" is checked [x]. Enter PineConnector webhook URL:
    v2: https://pineconnector.net/webhook/ > click "Create" (NOTE: Make sure the forward slash "/" is at the end of the Webhook URL!).
    v3: https://webhook.pineconnector.com > click "Create".
  • Done.
Autotrading with TradingView, PineConnector and Metatrader

We offer assistance in setting up automated trading remotely. Prerequisites:
       1) Broker compatible with MetaTrader
       2) TradingView indicator
       3) PineConnector Subscription
       * Optional: VPS (Virtual Private Server) (can also be done directly via MetaTrader), MetaTrader app requires constantly running computer with internet

Contact Us for inquiries. | Make a payment.

Despite the high reliability of the automated systems in the trading process, it remains the trader's responsibility to actively monitor the trading environment. While instances of malfunctions, such as skipped signals, are rare, external factors like server malfunctions, broker glitches, computer restarts, or signal delays may still occur. Traders should exercise caution, stay vigilant, and be prepared to intervene if necessary to ensure the smooth execution of trading signals and to promptly address any unforeseen issues that may arise.

It is easy to monitor autotrading though:
       - When creating TradingView alert, check [x] "Notify in app".
Autotrading with TradingView, PineConnector and Metatrader

       - Once Alert is received > verify it in TradingView app (NOTE: With PineConnector alerts turned on - there will be 2 alerts per each order). (Open TradingView app on your phone, then tap "Chart" > the 3 dots on bottom-right "..." > Alert management > Log | Tip: do not fully exit out of TradingView app on your phone, that way every time you switch to it - it will open at Alert Logs right away).
Autotrading with TradingView, PineConnector and Metatrader
Autotrading with TradingView, PineConnector and Metatrader

       - Now open/switch to MetaTrader app to verify the trade is actually open with the Broker, for correct symbol and in correct size. If for any reason the trade was not open or closed, it can be done manually using Alert data. MetaTrader computer application can of course be used as well for manual trade open/closure/adjustment.
Autotrading with TradingView, PineConnector and Metatrader
Autotrading with TradingView, PineConnector and Metatrader

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