Automated trading

Setup guide - how to autotrade ETHUSDT on Binance exchange (USD-M Futures)

Updated 03.12.2021! This guide explains how to setup and use Traderelay v.408 and later versions.

This process might seem complicated, but its actually quite simple.
The complication comes from the fact that there are 3 different platforms that has to be setup: Tradingview -> Traderelay -> Exchange (Binance)
But after they are setup, you have Trading Bot trading 24/7 on Binance exchange. Then you can start tweaking your strategies.

automated crypto trading

This guide helps you to set up automated trading ETHUSDT and other crypto pairs in binance. LONG and SHORT orders are now possible in Binance Futures.

1. Setup

1. Go to website and login. (Dont have account yet? Open account here. (included is our referrer code)
2. After login. Go to chart screen in tradingview. Choose ETHUSDT as symbol.
3. Press 'Pine Editor'-tab below the chart and copy paste our example Study code from below. Press Save. Press Add to Chart. -> now you should see startegy added to you ETHUSDT chart.

Example strategy with alerts

This code written with Pinescript v.4.
Just copy-paste it to -> chart window -> Pine Editor -> Save -> Add to chart.

study("Traderelay 4 Example Study", overlay=true)

sma1 = sma(close, 14)
sma2 = sma(close, 55)
longCondition = crossover(sma1, sma2)

shortCondition = crossunder(sma1, sma2)


//entry long
plotshape(longCondition, style=shape.labelup, location=location.belowbar,, 0), size=size.tiny, title='longCondition', text='longCondition',, 0))
alertcondition(longCondition, title='longCondition', message='action:LONG symbol:{{ticker}} qt:0.01 id:xxxx')

//entry short
plotshape(shortCondition, style=shape.labeldown, location=location.abovebar,, 0), size=size.tiny, title='shortCondition', text='shortCondition',, 0))
alertcondition(shortCondition, title='shortCondition', message='action:SHORT symbol:{{ticker}} qt:0.01 id:xxxx')


2. Setup alerts in Tradingview

Now that your study is running succesfully in chart window. Create alerts for it. Alerts will send LONG or SHORT command to Traderelay and onwards to real exchanges.

Create alert

1. Go to "Alerts"-section, its on upper right navigation. Create new alert with following settings.
2. Condition: choose your study from dropdown ("Traderelay 4 Example Study").
3. Choose "Once per bar close".
4. Fill checkbox "webhook". Insert webhook url:
4. Copy paste your personal webhook id to messagebox (Change xxxx to your personal webhook id) (webhook id you can get from Traderelay)
5. Press "Create". Thats it! Now your study will send alert message to traderelay software everytime alert is triggered.

All available commands

You can use these commands in your alert as you develop your strategy further. (Let us know if you need new special commands.)

Market commands that can be used:
BUY LONG command: action:LONG symbol:ETHUSDT qt:1 id:xxxx (if you have short position, this command will close it and buy long.)
SELL SHORT command: action:SHORT symbol:ETHUSDT qt:1 id:xxxx (if you have long position, this command will close it and sell short.)
Close half of current position command: action:CLOSEHALF symbol:ETHUSDT id:xxxx (we use this command to take profits.)
Close current position command: action:CLOSE symbol:ETHUSDT id:xxxx (use this to close position, stoploss, etc.)

3. Setup TradeRelay software

-Install TradeRelay software on your computer

1. Set Binance API keys

-Login with your email and password
-Go to Settings tab and fill in: your api keys for Binance.
-Save settings

2. Setup instruments

You have to have atleast one instrument on instrument list before you start Traderelay software.
Instrument can be paused, but there needs to be atleast one instrument so software can loop the list.

-On main page of Traderelay software, add instrument symbol: ETHUSDT
-Choose ETHUSDT from the list and click sectype Binance -> this sets the exchange to Binance

3. Start traderelay

-Press START and TradeRelay begins to loop through your instruments -> checking received alerts from Tradingview -> relaying orders to exchanges
(in this case Binance -> USD-M Futures ).


4. Setup Binance Crypto Exchange

-You will need to open Binance account.
You will need API keys for SPOT exchange or Futures exchange.
-In binance you can trade normally in SPOT-exchange, but it supports only LONG. (Shorting wont work here.)
-If your strategy trades LONG and SHORT -> enable USD-M Futures exchange here: Binance Futures.
-Move some money to your SPOT or FUTURES account and start trading.

5. Setup complete

After you have succesfully completed above 4 step you should be able to run trading bot 24/7 in Binance exchange.
Checklist: is sending alerts (with your webhook id) %
-Traderelay is looping and waiting alerts (incoming alerts have your webhook id + some command) %
-Binance account has money and API keys have been inserted to Traderelay settings %

Firewall settings (optional)

Usually there is no need to change firewall setting on your windows.
But if you have trouble and alerts are not forwarded to Binance -> go to your computers firewall settings and allow application "Traderelay software" in and out.
This should allow Traderelay to send and receive API commands to Binance.

Still having problems getting automated strategy running?

Due lot of help requests we now offer paid 'Developer help' for setting up all parts of automated trading ( strategy and alerts, Traderelay, Binance and IB TWS).
You can check it at our Subscription page.

After you have ordered 'Developer help', we will contact you by email -> the setup process can be done live in Google meets or by email guidance.