TradingView

- How does the flexibility of Refonte Infini, a versatile tool for customizing trading strategies, precisely come into play?

- TradingView's custom signals stand out as one of the most precise and dependable resources for trading indicators.

Being the largest technical analysis platform in the trading domain, TradingView offers a wealth of features. Novice traders can benefit from its comprehensive functionality, boasting over 100 indicators for in-depth asset price analysis and strategy testing. Moreover, advanced users have the capability to design custom indicators and signals. Finally, traders can leverage TradingView's tools for global market research, including the Stock Screener and Economic Calendar, to identify optimal assets for analysis.

Set up tradingview

What is the functioning mechanism of custom signals on TradingView?

By linking your bot to selected TradingView indicators, the bot will autonomously receive alerts and execute trades as per the specified conditions.

TradingView provides a variety of tools that serve as a foundation for signals. These signals can either be one-time occurrences or repetitive ('everytime')

An instance of utilizing a one-time signal involves initiating a trade during a breakout/retest of a resistance level.

Example

Bitcoin has recently experienced significant price discovery, reaching new yearly highs amid the third wave of investor accumulation, according to Glassnode data. This wave typically follows the market cycle bottom and precedes the Bitcoin halving. However, caution is advised as historical trends show a significant correction after this phase, leading to a downtrend until the halving. Currently at a High-Volume Node, Bitcoin faces potential selling pressure. Analysts, such as Senior Analyst Alexander, initially predicted a $35,000 top for Bitcoin in 2023. Traders are advised to watch for a short-term reversal, considering conservative profit-taking and waiting for confirmation of support or an aggressive approach with potential short positions. You can see it in the image below

Utilizing repeating signals becomes advantageous when aiming to augment a position at a dynamic support level that evolves with changes in the asset's price over time.

Consider, for instance, the chart below showcasing the development of a triangle. Opting to increase your position each time a candle interacts with the white resistance line enables the implementation of a narrow stop-loss, optimizing the profit ratio while mitigating potential losses.

Once all configurations are in place, your Refonte Infini bot will begin to receive signals from TradingView, and if executed correctly, profits will ensue.