Signal trading bots are now available for Phemex contracts, accessible to everyone and free to use.
What is Signal Trading?
Signal Trading represents an innovative strategy that allows traders to make well-informed decisions using predefined indicators or triggers, known as 'signals.' These signals serve as crucial pointers for when to buy, sell, or hold assets, utilizing technical analysis tools to effectively maneuver through the fast-paced financial markets.
How to Use Signal Trading on Phemex?
>>Check here for our video guide.
A. Getting Started:
1. Ensure you are registered with Phemex and logged into your account.
2. On the Phemex homepage, hover over 'Contract' and select 'Trading Bots'. Alternatively, if you're on the trading page, click 'Trading Bots' in the top navigation bar.
3. In the 'Trading Bots' section, find and click on the ‘Signal Trading’ option.
B. Configuring TradingView Alerts:
1. Let's begin by naming your signal and providing a brief description. Phemex will generate a unique webhook link and an alert message template for you. Keep your webhook link confidential to avoid unauthorized use and potential losses.
2. Go to TradingView, and select a trading pair that is supported by Phemex for signal trading.
3. Open the Pine Editor on TradingView.
4. If you have a Pine Script strategy, enter it into the Pine Script strategy editor, save your changes, and then click "Add to Chart." If your strategy is already formatted as a strategy class, you can proceed with the setup.
5. With your strategy-related Pine Script selected, go to "Alerts," and choose your script from the dropdown list.
Please note: If your strategy script includes the alert() function, make sure to select the option "Only on order fills." A strategy-related script is a type of Pine Script that includes a strategy declaration "strategy name" at the beginning of the code.
6. Copy the alert message template provided by Phemex and paste it into the "Message" field on TradingView, then add your chosen alert name.
7. In the "Webhook URL" field under “Notifications” on TradingView, paste the Webhook URL provided by Phemex, and click "Create" to finalize the alert setup.
C. Create your Signal Bot
1. Tap on 'Create Bot' to navigate to the Signal Bot creation page.
2. To begin, you must provide the essential settings for your bot. These include the trading pairs you wish to use, the leverage ratio, and the amount of capital (margin) you're willing to allocate.
3. Beyond the fundamental settings, the bot also offers advanced customization options that allow you to refine your trading strategies further.
4. Once you've input all the desired parameters for your bot, click 'Confirm' to complete the creation of your Signal Bot.
D. Monitor and Manage Your Newly Created Signal Bot:
Congratulations on successfully creating your Signal Bot! This advanced tool will immediately act on signals from your chosen source, executing trades in real time and enhancing your trading experience.
You maintain complete control and oversight of your Signal Bot. You can monitor its performance and review detailed information at any time by clicking on the 'Details' icon indicated below.
E. Stopping Your Signal Bot:
Should you choose to stop the bot, the system will close all open positions and cancel all pending orders associated with it. Any remaining funds from these orders will be returned to your account.
