Complete Guide to AUTOVIEW's OANDA COMMANDS 🤖 AutoView Guide (PART 28) [PSv4]

Complete Guide to AUTOVIEW's OANDA COMMANDS 🤖 AutoView Guide (PART 28) [PSv4]

hey traders welcome to part two of my
video series covering how to auto trade
forex
through oanda using auto view and
trading view alerts
today's lesson is going to be more of a
theory lesson covering the commands and
syntax that we have to work with
when we are managing and executing
trades through orlando using autoview
so this is a great lesson to take notes
on get out of notepad
or open up notepad on your computer and
just jot down some notes as we go
through this material
because it will help you down the line
when we get into the more practical
examples
of this information so let's get started
alright so let's go over the main order
view commands for working with
oanda so there are several commands we
have to work with
when it comes to orlando this is not a
full list there's a few more we'll go
over on the next slide
but these are the main ones for managing
your positions
so i've broken this up into three
categories we're going to have the
command itself
what the command does and a few examples
of
using that command with autoview so i'll
break these down one by one
the first command is e equals so
equals sets this e parameter and the e
parameter corresponds to your broker or
exchange
so if you were using this with crypto
you would reference an exchange like
binance or
bittrex or whatever exchanges autoview
works with
but for us we are using oanda and so
this will always be set to awanda
practice for demo trading
or oanda without practice in it if you
want to
live trade so whenever you set up your
alerts your
alert will always need to start with the
exchange you want to reference
otherwise all of you won't know what to
do with that command and while we're
here it's important to mention that
if you don't have any of these commands
in your alert then the alert will be
completely ignored by autoview so just
because you have autoview installed on
your computer if it's your main computer
you use
for your live trading if an alert
triggers and you do not have
any of these parameters set in the alert
message the text message
of your alert box then autoview will
ignore that command completely
so you can still use autoview in
conjunction with regular alerts
if you are a manual trader so keep that
in mind but if you are using autoview
and you want your commands to be
executed you must start every command
with the exchange you want to trade on
the next command we have is s and that
sets the symbol
or the market that we're trading so in
our case through oanda that will be a
market ticker code now keep in mind that
trading view does not put a slash in
their
um ticker id so ticker and ticker ids
in your scripts so if you reference sim
info bear with me i'm terrible at
writing with a mouse
sim info dot ticker or ticket id then
you need to add a slash in between
the market that you're trading so i'll
show you how to do that when we get to
the actual coding portion of these
lessons that won't be covered in this
video we're just going over the theory
and the syntax of each command
but don't worry it's really easy to fix
your ticker id
to comply with oanda's requirements
so the next command we have is b which
stands for book and this sets the order
direction
there are only two valid parameters here
and that is long
or short so if you want to go long you
would type b equals long
if you want to go short you type b
equals short and i should have mentioned
this earlier but each command
is separated by a space so all you need
to do is write this out
have a space then your next command then
another space and then your next command
etc anyway moving on we then have q
which stands for quantity
or position size and this can be set to
anything that
you are able to trade based on your
account balance and your
leverage so this is one of the main
limitations of autoview
autoview does not know what your awanda
account balance is or it does know what
your account balance is but it cannot
calculate
your position size based on your stop
loss distance so remember if you're
trading
a market let's say you go long on this
candlestick pattern here
and your entry is at the close of that
candlestick and your stop loss is one
atr below
the swing low if you're an experienced
trader then you know that you want
to adjust your position size based on
your stop loss
not the other way around you don't want
to decide your stop-loss based on how
much money you want
you are willing to lose you want to base
your stop-loss based on price action
or your rules-based strategy and then
you want to risk let's say one percent
of your account autoview cannot
determine what this distance
is in terms of dollar
risk now obviously this is a massive
problem when it comes to
automating trading strategies but the
good news is
i've figured out a way to basically
plug your account balance into your
scripts and then your script will
calculate your position size
based on your stop-loss distance in pips
your account balance
and the risk percentage you want to risk
now it's not a perfect
solution because you need to update your
account balance regularly especially
if you're trading this on a lower time
frame or any time frame that has a high
trade
frequency so you need to reset all your
alerts and change your account balance
as your account balance fluctuates but
there are always pros and cons when it
comes
to things like this the pro of autoview
is how simple and easy it is to use
the con is that or the drawbacks
are that you need to kind of babysit
your scripts much more than you would
need to if you were using a language
like python or java to fully automate
your strategies but when we get into the
password portion of this you'll see
why those drawbacks are worth putting up
with in order to use auto view
in your forex trading but anyway if you
just wanted to use a fixed position size
you can just set q
to whatever this is um units in oanda
works in units
so if you wanted to trade a mini lot
you'd have to write in 10 000
uh without the comma so just 10 000 or
if you wanted to trade a full standard
lot
you'd need to type in 100 000 units but
the
wonderful thing about awanda one of my
favorite things about this broker is
that you can even trade
a single unit if you want to a single
dollars worth
of a position which most brokers do not
allow you to do
and that makes our position sizing our
dynamic position sizing
in our scripts much easier when we get
around to that and as i said we'll cover
that in a different video
moving on we have t which sets the order
type
so t stands for type and there are only
two types
two order types we have a market order
or a limit order
so if you set market if you set t equals
market
on your command then the trade will be
entered at market
which means you'll be paying the spread
and again another limitation of autoview
is that orderview does not know
where your position was entered or at
least they can't tell your script
where your position was entered because
your script can talk to
autoview but autoview
cannot speak back to your script so
we're working with one-way communication
here
when it comes to these commands so if
you enter
an order using a market order you enter
a trade using a market order
keep in mind that whatever you set your
stop loss to your risk reward profile
will be affected by the spread
and that is a big problem on the lower
time frames particularly the one minute
five minute chart that sort of thing 15
minute chart
and above isn't too bad depending on the
market you're trading and the spread
that you get so major forex pairs and
major markets aren't too badly affected
by the spread
but if you are having issues with the
spread then you're going to need to use
a limit order and it's best to use that
limit order in conjunction with this
command here which we'll get to in a
second which sets your expiry
on that limit order and we'll go over
why that's important in a minute
but next up we have sl which stands for
stop loss
in pips from your entry so this
example command here would depending on
the atr
of this pair would set your stop loss to
15
pips from your entry so if you're using
a limit order it would be exactly 15
pips from your limit order price
but if you're using a market order it
will be 15 pips from your entry
at market next up we have tp which
stands for take profit and this
is in pips from your entry exactly the
same as your stop loss but a profit
order
so this would be a four pip take profit
order
depending on the atr or decimal places
of the currency you're trading
personally i do not recommend
using these commands i recommend these
ones here which we'll get to in a second
which deal in price instead of pips this
one is a lot more
consistent in terms of its execution
because as i said if you're using market
orders and your fills are being affected
by the spread
then dealing with pips as your stop loss
and take profit can
lead to inconsistencies between your
script and
actual live trading which we'll cover in
future videos when we start playing with
code
the next command is dt that stands for
date slash time
and this is your expiry for limit orders
so if you want to set a date you use dt
equals and then a date so we have the
year we have the month
and then we have the day so this example
would set a
limit order with an expiry on the 23rd
of april 2021
or if you prefer you can use unix
timestamps
which works in seconds not milliseconds
so for example let's jump over to a unix
timestamp website so here we are on a
unix timestamp
website this is the timestamp we are
working with when it comes to unix
commands so if you wanted to set an
expiry on your limit order
that was two minutes from the current
time
you would need to add 120 to this number
here but the good news is
pinescript and tradingview provide
inbuilt functions and it'll
inbuilt variables to deal with
timestamps the catches they work in
milliseconds so you need to divide
everything you do
in pinescript's timestamp by 1000 to
turn that into seconds but that's easy
to do and we'll cover that
in future lessons and then finally the
last two
important commands we have here on our
main awanda commands is
fsl and ftp this stands for
fixed stop-loss and fixed take profit
which
works in price not pips so if you wanted
to set a
fixed stop-loss order on either a
limit order or a market order position
you use
fsl and then you put in the price the
exact price you want that stop loss
order to be executed at
and your ftp is your fixed take
profit price i prefer using these
commands when working with
strategy scripts and other indicator
scripts rather than
sl and tp because as i mentioned earlier
for example
if you enter on this candlestick pattern
here and you enter at the closing price
but you use a market order and you were
filled a couple of pips higher
if you use an sl a stop loss order then
let's say your script has a one atr stop
loss below this low but you send it
a stop loss in pips then that will come
uh
count from your entry price so for
example if you had a 15 pip stop
or or one atr pip stop from your entry
and you got
hit by a bit of spread then your
stop-loss would be a little bit higher
since your order was entered a little
bit higher your market order was filled
a little bit higher
and that can completely change the
profitability of a script because your
stop-loss is not
being placed where your strategy script
would ordinarily place it whereas if you
use an fsl
and you did the same thing you entered
at market at the close but you were
filled a little bit higher
yes you will skew your risk reward
profile a little bit because your
stop-loss will be
a little bit further away from your
entry but at least your stop-loss will
be in line
with how your script was back-tested so
keep that in mind
and as i mentioned earlier several times
now we will
cover this in actual code when we get to
it i'll show you how to mitigate these
problems
using things like a time filter so that
you your
script does not execute trades during
certain times of day
so for me personally where i live here
in australia there are certain times of
day in the morning
where the spread is horrendous around
six to eight am my time uh
the spreads can jump up as high as 10 to
20 times their normal
distance and that can severely
negatively affect
certain strategy scripts so i have found
ways to mitigate that problem which i
will cover when we get
into the scripting portions of this
lesson series
but moving on we have one more slide
here and that is our secondary oanda
command so these are commands you won't
use quite as often as the others but
they are still
important to know and this pretty much
covers all of the oanda commands there
aren't too many more than this
i don't know of any more than these ones
that i've covered
the autoview website isn't super
detailed when it comes to
broker-specific commands but as far as
i'm aware
i have covered every single oando
command in these two slides but let's
get on to the
last few commands here which are these
ones here
i'll explain what they do and give some
examples so the first one is c
this stands for cancel or close so if
you write in here c
equals order that will close cancel any
open limit orders that you have
if you type in c equals position then
that is what you use to close
positions at market or using limit
orders etc
so for example i have a script my
ultimate pullback indicator
which has a bunch of exit reasons for
example
if the script has you trading to the
upside to the long side
and the rsi goes overbought so here's
the rsi
let's say the rsi goes overbought and
then
you get a bearish engulfing candle then
my script
will exit this position
at market using c equals position and
using
t equals market and the referencing the
symbol that i'm trading etc
so this is how you close positions or
cancel open
limit orders this is also important for
things like adjusting your stop loss
on an existing position once you've
opened a position with a stop loss you
can't just
update the stop loss with a command you
need to clear it or cancel
your existing stop loss order and then
send a new command to add a stop loss
order
to that existing position which we will
go over
in these lessons next up we have fgsl
which is a new command that was only
recently added to awanda and that sets a
fixed guaranteed stop-loss price
basically this is a special stop-loss
order
that protects you against slippage and
gaps so you are guaranteed to be filled
at whichever price you put in here the
catch is you pay a premium
to have that guaranteed stop loss this
is a recent thing that was added to
oanda literally a few weeks ago i
believe at least here in australia so i
haven't used this order type yet but we
will play around with it if we get time
but theoretically as far as i can tell
this should act
exactly the same as a fsl a fixed
stop-loss you just enter a price
and it just acts as a normal stop-loss
except you pay a premium
if it gets filled because it is
protecting you from
slippage next up we have ts and fts this
is your trailing stop
and it works in pips not points i don't
know why i wrote points there
it works in pips and i did a bit of
testing on this
as far as i can tell ts and fts do
exactly the same thing they both just
initiate a trailing stop
so one is called a fixed trailing stop
price and one is just called the
trailing stop price
as far as i can tell they do exactly the
same thing and basically if you
write in ts equals 0.005 on a
order that you open using order view
once your order is filled let's say you
enter short
on this candle here you enter here with
a 180 stop loss
if you specify a trailing stop of 5 pips
then as price action goes into your
favor
your stop loss will trail below price
action
by 5 pips so every time the market goes
five percent of profit your trailing
stop
moves five pips down i believe that's
how it works we'll do a bunch of testing
with this later on
in the lesson series but these two
commands are the same thing
ts and fts is just your trailing stop in
pips pips
not points next up we have ro which is
just reduce only
so if you set this to one the only two
parameters that are valid for this
command is one and zero
by default it's set to zero if you set
it to one that means any command any
market order or limit order command you
send
to autoview can only reduce open
positions it cannot open new positions
so for example let's say you have 10
contracts going short
and then you send a command to autoview
to add five contracts to your short
position with ro set to one
that command will not be executed by
oanda because it is
not reducing your position it is adding
to your position so if you set arrow to
one and let's say your 10 contracts
short
you set arrow to one you send a market
order to
buy five contracts then this order will
be executed
and you will now only have five
contracts open on that market
then let's say you send another command
to buy
10 contracts this command will not be
executed because you have
only five units open or contracts open
and you've set your order to reduce only
so rather than selling five contracts
and then going short five contracts
it just won't be executed because you've
set ro to one or enabled
next up we have d this disables
execution of any commands this is for
debug purposes
basically if you set d to one it's set
to zero by default
but if you set it to one then any
command you send autoview will not be
executed but it will show up in the log
section of your order view plugin which
is this
thing here the log on your auto view
plugin settings menu if you set d equals
one
then the log book thing here will write
out
what that order would have done if it
had been executed but it won't actually
execute the command
so this is good for practicing playing
around with real money
orders if you're doing dealing with a
demo account it really doesn't matter
if you screw something up but if you are
dealing with real money or you're trying
to debug
something out of your script use d
equals one
to disable live execution of your alert
commands
and then the final two commands we have
here is delay
this just sets a delay on your command
by x amount of seconds so if you for
example you set delay to 30
that means your command will not be
executed for 30 seconds after being
received
so i'm not really sure of any use cases
for this unless you're sending a bunch
of commands
to autoview all at once and you want to
space them out a little bit
but for the most part i don't think many
of you will be using this delay command
and that's why it's on the secondary
commands page then finally we have a
which stands for account so by default
this is set to an
asterisk which means it will just
execute based on whichever account
you've connected
to oanda through autoview but there are
ways you can set up multiple
subaccounts through autoview so for
example let's say you
had a daily chart strategy that you
wanted to keep separate from your 15
minute
intraday strategy you could set up two
accounts with two different account
balances
you can connect them both to autoview
using a different alias for each account
and then when you send your commands to
autoview
you can use a equals and then your
account alias
to specify which account you want that
order to execute on
pretty simple stuff not many of you will
use this especially in the beginning
but once you get familiar with autoview
this is a very very useful
feature and something that i've been
playing around with myself recently
as i've got more comfortable with
autoview so that's it for the commands
that's really all we
really need to work with these are the
only commands that i've used in my
testing
and in all of my different strategy
scripts and indicators that i've written
that i've tested with autoview between
these two pages of
commands you should be able to achieve
practically anything
with autoview in relation to your
training view scripts
but before we wrap this up let's go over
just a couple of
example commands so here are a few that
i wrote out here's an example of how to
open a position
at market with no stop loss or target so
we're just opening
a position where setting the exchange to
awanda practice
we want to go long we want a position
size of one
unit and the symbol we're trading is
australian dollar so
aud slash usd and we want to trade
our type our order type is at market so
we just want to set a market order to be
executed immediately
at the market price going along one
contract on
aussie dollar on our practice account
the next example is opening a position
at market with
a fixed stop loss price so this command
is exactly the same up until here
so notice that every parameter here is
identical to this
first command except that at the end we
add our fixed stop loss
price at 78.503 so this command would
open a trade at market with a stop loss
at 78.503
and it's worth mentioning here that
let's say that price action is at
78.4 when this command gets sent to
oanda
owanda won't open the trade because your
stop-loss price
would be filled instantly after being
filled on your market order
so keep that in mind awanda have done a
pretty good job with a
um api of protecting you from opening
trades or positions that don't make
sense
so if you do mess up your command 99 of
the time the command won't even go
through
to oanda anyway the next example we have
here is
open a position at market with a fixed
stop loss and
profit target so that's exactly the same
as this
this command here this first one up
until here
and exactly the same as the second
command up until here
and then all we do is add our fixed take
profit on the end of this command
and this would open a market order on
aussie dollar with one unit
going along on our demo account with a
fixed stop-loss price of 78.503
and a take profit of 79.052
so your order would be filled at market
and your stop loss and take profit limit
orders would
also be entered at the same time which
is actually really cool wait till we get
into this and we start playing around
with example commands
it's a lot of fun to see all of your
orders just appear and magically move
around
all on their own it gets quite addictive
to watch especially in the beginning
when you're new to all of this
but moving on to the final example here
this is a bit more of an advanced
example on this one we are setting a
limit order with a fixed
price opening so we're setting a limit
order with a
price that we want to be filled at then
we're setting a stop loss in pips
not as a fixed price and a
profit target as a price so we're using
the ftp
and the sl command to set our stop loss
in pips
we're using a limit order instead of a
market order and we're telling
autoview which price we want that limit
order to be filled at if you don't
specify a price
in your limit orders then oanda will
just set the limit order to whatever the
current
market price is on whatever instrument
you're trading which can be a problem
if there's a delay in your command being
sent to aranda
so i do recommend setting your limit
order price
in your scripts which again we'll get to
later in this lesson series
uh here's the example of this command
it's a little bit different here
we're still referencing awanda practice
as our exchange
we want to go short here instead of long
so our book
parameter is short our quantity is 5 000
units
we're still on the market of australian
dollar versus u.s dollar but now we've
set
our type to limit instead of market and
then
fp stands for fixed price and this is in
relation to our limit order
so we want to open a short limit order
at 78 cents on
aussie dollar we want our stop loss to
be 15 pips
above our entry and we want our take
profit to be at 77.5 as
a price limit order so hopefully that
all makes sense i know this is a bit of
an information dump and it's
much more helpful to see this in
practice when we get down into our
scripts
but i thought it would be valuable to go
over the theory
of these alert syntaxing commands before
we get our hands dirty with some code
i'll obviously leave links below this
video for
the official order view syntax
and commands list i will also leave a
link to the oanda api
it's sometimes useful to cross-reference
things with the api that's how i
worked out a lot of these commands that
they didn't have good examples on
inside the order view documentation just
really quickly i'll show you what i mean
so here we are on the orderview webpage
if you come up here and click on alert
syntax that will take you down
to the alert syntax list the majority of
these commands do not apply to us
they're not useful with oanda
the ones that are useful with oanda are
typically listed here with
oanda next to the inside the description
and i've covered all of the main ones
here that are listed here but as you can
see
the information provided here is pretty
minimal
there's a few things here that i didn't
really understand what they meant
until i played around with them and did
a bit of
trial and error and experimenting but if
you do run into issues here
i'll leave a link below the video to the
owanda api which we'll go to now
and here is the documentation for the
rest api
version 20 which is what we are using
here now you can use this api with any
programming language you would use with
python
java i'm sure there are others
out there that are that are suited to
using this api
all of you have done this all for us and
they've basically made a bridge
so that trading view alerts we've got
trading view
sends their alerts to auto view
auto view passes those commands or
analyzes those commands converts it into
the relevant
awanda rest api syntax in json format
which is
if you don't know what that means don't
worry about it because that's the point
of using autoview so trading view
scripts talk to auto view and auto view
translates that information to awanda's
api
and the api can talk back to auto view
but auto view cannot talk back to
trading view so we're working with a
one-way
communication here our scripts are
talking order view and then autoview is
doing its best to translate that
information into the oanda api
uh the whole point of explaining this is
that right here we are on the
rest api documentation for rwanda
and if you scroll down all of these
endpoints here
and definitions you can actually get
more information on what these commands
do
now the api commands here are different
to order views commands so for example
take profit order is not written as
ftp or tp it's just take profit order
but if you click on that
you can get a little bit more
information here and if you're
experienced with programming
this can really help you uh understand
what auto view is doing when it's
sending your commands to oanda
but for the most part you will not need
to do this hopefully i'll do a great job
of explaining what all these commands do
to you in layman's terms
and in practical terms when it comes to
our trading view scripts so that will do
it for today's video i did want to go
down to the charts to show you
examples of executing these commands but
this video is already a bit too long
so i'll do that in the next video in the
next video we'll take
all of those example commands that we
wrote out here
or that i wrote out here and i'll show
you some of these example
commands in practice using actual alerts
on trading view
but until then i will see you in the
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because this stuff
this is accumulation of tens of
thousands of hours of work
including learning programming in the
first place in all the best practices
learning how to trade and converting all
of that knowledge into
scripts this stuff isn't cheap because
it's extremely valuable both to me
and to the people who have bought it
already and are using it so it's not
cheap if you can't afford it that's
perfectly fine
or if you just don't want it that's fine
i will be back with more free lessons
soon
and hopefully if you are in the camp
that can't afford this
um before long you will be able to
afford it because i will help you
automate some profitable strategies so
stick around guys i will see you soon
i will be back very shortly keep in mind
none of this is investment advice this
is all for educational purposes only
and for entertainment it's just for
people who are curious about this stuff
people who want to tinker around and try
this stuff if you're very serious about
all of this
and you actually need help with the
financial application of all of this
stuff
definitely i encourage you to go and
find a licensed financial advisor
to guide you but in the meantime if you
are interested in this stuff
sign up for a free oanda demo account it
costs you nothing there is zero risk
and you can play around with this stuff
in your free time until you get the hang
of it
and who knows what it could lead to
anyway that's it for today
thanks for sticking around and being a
part of this community i will see you in
the next video take care everybody