Automating TradingView alerts for Bitget
The exchange has a functional API allowing third-party service providers to seamlessly connect to the platform. You can use TradingView alert system to create a powerful automated trading system using toolkits offered by companies such as WunderTrading. The best thing about working with this particular exchange is that it gives you access to a wide range of financial instruments including options and perpetual futures.
The TradingView platform allows users to receive good Bitget alerts thanks to the ability to pull the market data directly from the exchange. You can choose the right source when searching for a symbol in the Superchart. Simply start typing the name of the target asset in the search field and click on “All sources” to pick Bitget as the main provider of market data for the chart.
Note that alerts alone are not enough to automate the trading process. You will also need to use a bot-creation suite from WunderTrading.
Below is a short step-by-step guide to start automating a technical analysis strategy with Bitget TradingView alerts using tools available at WunderTrading:
- Get your API keys from the Bitget account page.
- Go to the WunderTrading platform, log in and connect your Bitget account.
- Go to the Dashboard -> My Bots -> Create a bot.
- Adjust the settings as you see fit and look at the “TradingView alerts details” section.
- Go to the TradingView website and open a new chart.
- Deploy a strategy that you want to use in an automated trading system.
- Use comments from the “TradingView alerts details” section to start receiving alerts.
- When everything is connected, launch the bot and start monitoring its performance.
Note that you can get Bitget alerts that will be tailored specifically for target exchange and asset pairs. Do not forget to choose the right source of data on TradingView and pick the necessary exchanges and accounts when setting up a bot at WunderTrading.
All the necessary instructions to connect two service providers can be found in the knowledge base at the WunderTrading website.
How to use TradingView alerts with Bitget?
While each strategy requires customization and fine tuning before it can start performing to its fullest potential, the road to building the perfect trading system is usually covered with bumps and holes. Below are some tips that will help you avoid some of the common pitfalls that retail investors face when trying to build an excellent automated trading system with crypto Bitget alerts.
- Focus on using asset pairs that have high liquidity. While investing in obscure coins and recently launched tokens can be a valid strategy, many retail traders usually stick to assets that can be effortlessly traded on public platforms like centralized exchanges. Look for digital assets that have large daily trading volumes and liquidity.
- Avoid risky technical analysis strategies. Day traders and scalpers tend to gravitate toward aggressive trading patterns using approaches like RSI swing trading, custom Fibonacci and Gann patterns, or other methods that can work in manual trading but often fail when automated.
- Increase the time frame. Trading on ultra-short time frames can be profitable, but you need some experience in the cryptocurrency market and spend a lot of time on perfecting your technical analysis strategy to build a consistently performing system that works on frames shorter than 4H.
- Reduce the max position size. The WunderTrading platform allows its users to set either the max portion of the portfolio that a bot can use to trade or the exact value for each position size. Try to ensure that you never allow your bots to control over 20% of your portfolio. Many experts believe that 10% for automation is more than enough.
Depending on your risk style and aspirations, you may want to adjust the approach to trading and analyzing the market. However, newcomers should stick to guidelines described above to avoid significant financial losses and protect their portfolios from excess risks.
Customizing TradingView alerts for Bitget success
It is possible to improve your technical analysis strategy to get Bitget alerts that work better with this particular centralized exchange. Below are some tips to customize your strategy to make it slightly more effective when used on Bitget:
- Make sure to activate your bots during peak trading hours in Africa and Asia to maximize the efficiency of your technical analysis strategy. These hours usually have higher volumes since the exchange is more popular in these regions.
- Use Bitget as the main source of market data for your price charts opened in the TradingView terminal. You will receive relevant market information that may differ from what other trading platforms observe at any given moment.
- Focus on working with tokens that are featured exclusively on Bitget or have high liquidity on the platform. Some examples of such tokens are $BGB (the native Bitget token), $BTC, $USDT, $USDC, and $LTC.
- It also a good idea to talk with members of the TradingView community to find efficient analytical approaches tested by other users. You can also look for strategies that well work on Bitget. Ask around and test some of the ideas that you find.
The best settings for effective TradingView alerts on Bitgets
Experienced retail traders know that any bot must be tuned for each specific use case to ensure that it performs better than the market on average. Achieving consistency while protecting your portfolio from risks is the main priority for someone who wants to invest in the crypto market in the long term.
Here are some settings that you might want to use for your bots at WunderTrading:
- Pick the right target pair to work with. The exchange allows you to engage in marginal trading, but you should carefully explore the platform and start small to avoid significant losses during the first several attempts at launching a bot. Do not work with overly volatile or obscure tokens.
- Find the right time frame. You can make a short time frame trading system work, but it is safer to trade on a time frame higher than 4 hours. It will give you enough time to adjust market positions or liquidate them preemptively if you do not feel right about them.
- Set the right trading volume. The best way to avoid risks is to have less at stake. Limit the bots to just 10% of your portfolio or set small position sizes to prevent losses that can harm your portfolio. You should use this approach while you are testing a strategy.
- Use conservative take profit and stop loss orders. Many experts believe that using a 1:2 TP/SL ratio is the best method. For example, if you have a stop loss at 10% of the size position, you should use a take profit order at 20%. With this ratio, only 55% of all trades must be profitable.
These are the best tips to use when trying to adjust Bitget, KuCoin, or OKX TradingView alerts settings, or for any other centralized exchange for that matter. When you have a bot that looks good on paper, start iterating. Launch the bot and look at its performance. Use your observations to further adjust the settings until you find something capable of bringing in profits consistently.
FAQ — frequently asked questions about Bitget signals
What are TradingView Alerts with Bitget?
These are trading signals generated on the TradingView platforms and used to build automated trading systems working with the Bitget exchanges. The charting toolkit allows you to use custom technical analysis strategies and edit any indicator in the Pine Editor.
How do I set up TradingView Alerts on Bitget?
Use the “Symbol Search” feature on TradingView and use Bitget as the main source of market data to ensure that your chart reflects price action recorded on this centralized exchange specifically. Get Bitget alerts that are tailor-made.
Are TradingView Alerts on Bitget customizable?
You can customize everything from nuances of the technical analysis strategy to bot settings on WunderTrading. This flexibility allows retail traders to build sophisticated automated trading systems that use TradingView alerts on Bitget.
Can I receive TradingView Alerts via email on Bitget?
The TradingView platform can send notifications when a certain alert is triggered. Users may choose multiple channels through which they will receive signals: Telegram, e-mail, and some social media networks are all good options.
What assets can I receive alerts for on Bitget?
This CEX platform features over 500 different tokens including some cryptocurrencies with extremely low exposure and liquidity. You may also access margin trading where hundreds of derivatives can be traded around the clock.