How to use 3COMMAS with Binance & TradingView alerts to AUTO-TRADE CRYPTO

hi traders welcome back to another
pinescript lesson my name is matt from
the art of trading
and today's video is going to be
covering how to use the
three commas third-party api with
binance
using trading view alerts now that's a
bit of a mouthful i know but stick with
me
and i'll guide you through this today
don't worry it's not as hard as it
sounds
so before we begin here is a quick
script i knocked up
um over the past couple of days playing
around with three commas
and trying to get a profitable strategy
so i have a profitable strategy here
um technically speaking this is
profitable to return to 43
with a 9 drawdown and has a profit
factor of 1.6
but this strategy is not ideal you would
have theoretically made a lot more money
just buying and holding
this market instead of running the
strategy but it is a profitable strategy
and the strategy itself is not
necessarily relevant for today's lesson
because it's all about
connecting your scripts your strategies
with the
three commas api and i'm just using this
strategy script as an example
so before we continue this lesson isn't
going to be too heavy on the
coding side of things i'm not going to
spend too much time running over what
this script does
i'm just going to walk you through how
to connect your binance account to your
three commas account
and then how to set up alerts on the
training view platform to
communicate with three commas to execute
entries and exits
on binance so before we continue uh this
script here is very simple it's just a
standard strategy script
the only thing i've changed here is
initial capital and default quantity
value that's my position
size so by default this strategy is
testing
using 10 000 us dollars and my
position size is 10 000 us dollars so
i'm using all of my account 100 of my
account on each trade
i'm not using margin in this example so
i'm basically just profiting off the
actual percentage
increases and declines in the market so
the market goes up
like this trade for example we entered
long at the open of this bar we exited
at the close of this bar
and that returned 28 or 78 dollars on my
account
i'll just quickly run you through what
the script is actually doing and then
we'll head over to
binance and three commas and set up our
api connection
so this script is extremely simple in
fact it's too simple
i wouldn't trade this if i were you i
would make this a little more
complicated add a few more filters
even though it is profitable and it's
decently profitable
it only has a 43 win rate but it has a
1.6 average risk reward
and so uh it is profitable we had a nine
percent drawdown with a 42
gain on the one minute chart over the
past 14 or 15 days
so that's just decently profitable
however
that's only because of the current
market conditions in crypto you see
we're in a bull market right now if we
weren't in a bull market i doubt that
this strategy would be as profitable as
it is
so just keep that in mind this is just
for example our purposes
but anyway what this script is doing is
when the rsi goes oversold
at 30 the script waits for that bar to
print uh to close to confirm that signal
and then we enter
at the close of that bar so in this
example here the rsi went oversold
this bar closed as oversold the script
entered long on the next bar on the open
of the next bar
with a 180r stop loss below the entry
and so the script entered long waited
until price action
retraced got back above this 50 line on
the rsi
and then when that bar closed to confirm
that 50 line
that price had reclaimed the 50 mark on
the rsi we exited
our position for a profit so this is a
long only strategy
we're not using margin we're not using
leverage we're not going short
just buying dips in the market and then
selling on retracements
extremely simple script but if there's
one thing i've learned in the past five
years of trading
it's that simple works so that's why
i've kept the script simple
you don't need to have a million
indicators and a million different
entry and exit reasons in order to
create a profitable strategy so here we
are
on the three commas dashboard
3commas.com
now i'm not going to go over how to
create an account hopefully you can work
that part out on your own
but here we are on the dashboard and
this is kind of what your account will
look like
before you set anything up so today's
lesson is going to be covering how to
use binance if you don't have a binance
account you can create an account here
using their
affiliate link and then you get a free
30 day
three comments pro subscription but i'm
assuming that most of you will already
have a binance account
so i'm not going to go over that today
we're just going to jump over to binance
and get our api key to connect to three
commas
but before we do that we need to come
down here to
my exchanges so click on that
and then for today's lesson we're
obviously doing binance but there are
dozens
of other markers here you can choose
from it's pretty much
the same process for all of them the
only thing that will be different is the
interface and where you need to go to
get your api key and all of that
but today we're just going to work with
binance i'm just going to call this
uh binance test and now we need to go
and get our api key and our
api secret oh secrets i'm such a dork
hang on so here we are on binance i've
hidden my millions of dollars worth of
bitcoin
i'm just kidding i don't have that much
but i wish i did so here we are on the
binance
homepage log in your account here and
then where you need to go to get your
api key
is this guy up here so
hover your mouse over this icon come
down to api management
click on that let your crappy australian
internet load
and then you need to give your api key a
label so i'm just going to call this
three commas
and then i'm going to click create api
so to generate an api
key if you've set up two-factor
authentication like i have you'll need
to get an email code
and type in your google verification
code so i'm going to do that now
there we go my api key is being created
i'm going to leave these
this information on the screen normally
you would blur this information do not
give this information out to anyone else
or they have full access to your account
and they can trade on your behalf and
cause all kinds of mischief
but i'm going to delete this api key
after i'm done so it doesn't matter
in my case what we need to do here is
copy the api
key you don't need to change any of
these settings here we just need to copy
these two
api key and api secret over into three
commas
so paste the api key in the api key box
and then paste your api secret into the
api secret
text box and click connect and exchange
that simple
if you've got your api keys correctly
copied
three commas do its thing and pretty
soon you will be connected
there we go we are now connected to
binance and we can set up our first
trading bot but before we do that it's a
good idea to create a paper account on
three commas so that you can do some
testing make sure everything's set up
properly without risking
your real money or cryptocurrency so
come up to
this drop down box here click on
settings
and then scroll down until you see
paper trading so when i created my
account initially this was turned off by
default
so yours probably will be too you need
to click on this show button
to create a paper account and a paper
account is basically a demo trading
account like any other exchange
or forex broker or stockbroker would
give you and this is just pretend money
to play around with
to make sure you've got everything set
up correctly so in order to tell three
commas you want to trade on your paper
account and not your real account you
need to click up here on paper trading
account
and that will make any bots you create
operate based on this paper trading
balance so that's it we are connected to
binance we have everything ready to go
so last but not least we need to set up
our trading bot so let's come over here
to dca bot
there are dozens of different ways to
trade automatically
through three commas you don't need to
use trading view you can use their
inbuilt
indicators and trading conditions and
smart bots
but today's lesson we're just going to
cover trading view bots so come over to
dca bot
click on that and if you haven't created
a three commas bot before
your interface should look like this it
should just be blank you need to come
over here
click create bot and by default you will
get this
interface here set on gordon this gordon
tab
i guess that's what three commas named
their default bot
we want to go to advanced so click on
the advanced tab here
and that will give you access to modify
all of these advanced
settings here and don't worry it's a bit
overwhelming at first even i was like
what is all of this when i first
logged in it's a bit weird i'm not sure
why they set it up this way
but we're not going to use most of these
settings so we we're basically just
going to go through and turn them off
we're going to let our trading view
script determine
most of these parameters so first things
first
let's start with the main settings panel
first thing we need to do is name our
bot so i'm going to name my bot
binance test and you can choose which
account
you're going to set this to just leave
it as paper account for now
now there's two different types of bots
we can use here we can use simple
which i believe only trades one currency
pair one crypto market
or you can choose composite which will
trade multiple
currency pairs today's lesson is just
going to focus on
simple so make sure you've set your bot
type to simple
next up we have our pairs these are the
pairs we can choose to trade
there's quite a few of them here and you
can trade pretty much all of these coins
against binance coin
bitcoin ethereum and us tether
so today's example i'm just going to
focus on ada
usd tether we could set this to bitcoin
if we wanted to
but i'll leave it as us tether for now
because that makes our position sizing
just a little bit easier so next up we
have our strategy section
so first up we have strategy type do we
want to
be a long bot or a short bot today's bot
is going to be just a long bot we're
just buying the market
and selling for profit we're not going
to be short selling
the profit currency is going to be left
as usd tether
and if you're not sure what any of these
settings do they have a pretty helpful
little question mark here that will give
you a tool tip and
links to more information on these
settings so if i don't do a good job of
explaining them make sure you click on
these little question marks and go and
read up on what these settings do
but we're going to leave all of this
here as it is
the one thing i will do is just increase
my position size i'll just go to 100 us
dollars
for now and then finally you have your
start order type you can either use a
market order which will just enter at
the current
market price or a limit order which will
obviously place a limit order
at a certain price and your order must
be filled at the price you tell
the bot to fill it at depending on what
market you're trading and the liquidity
of that market
it's probably a good idea to leave it on
limit but because i'm trading a
top 10 crypto i'm not too worried about
limit i can
feel pretty safe trading the market
price i'm unlikely to be
too affected by slippage especially with
a small order size like this if i was
trading 10
000 or more i probably set it to limit
so that's our strategy settings
um your base order size is your
actual position size so when your trade
is first executed
this is the initial position size that
the bot will enter
safety order size is for averaging
your position so basically if you're
using limit for example
and you set your buy price at let's say
a dollar
you can set the bot up using the safety
orders
so that you first buy x
amount of percentage of your position at
a dollar and then the bot will set limit
orders
up to whatever you set here so you can
have five
different se i don't know why they call
them safety trades that put me off at
first but basically this is averaging
into your position so you could set your
first position
entry at a dollar and then your second
at 95 cents and then your third at 90
cents
your fourth at 80 cents and your fifth
at 75 cents for examples that way
if the market continues lower after
filling you on your first initial order
you can average your position down and
get your dollar cost average down
as the market goes lower which
theoretically
means you can make more money if the
trade goes in your favor
but to be honest with you this is just a
bit convoluted to me i'm not sure
why you would really want to do this
certain strategies obviously
would call for this but in our case in
today's example
i'm turning all of this off so i'm just
going to set everything to zero
i'm going to set my safety order size to
the minimum which is actually 10 us
dollars you can't go lower than 10
and we're not actually going to use our
safety orders we're not going to use any
averaging we're just going to have a one
in one out approach
so our script is going to enter our
trades at market
based on whatever price our signal is
generated at and we're going to exit our
position at market as well
when our take profit signal is detected
so this is how i'm setting up my bot
my strategy is long only my profit
currency is us tether
my base order size my position size is
100 us dollars
i'm not using safety orders so this is
irrelevant and
my start order type is going to be a
market order next up we have our deal
start condition so there are a lot of
different
conditions here inbuilt conditions based
on
the three commas signals that they've
created
today we're just going to use training
view custom
signal so we are going to send our
signals
from our trading view alerts to three
commas api
and the three comma system is going to
enter and exit our trades for us based
on our trading view signals
so make sure to set your deal start
condition to tradingview custom signal
uh next up we have our take profit and
our stop loss
so our script has an inbuilt stop loss
so we're not going to turn stop loss on
for this lesson
and you can't turn take profit off for
some reason
so how this works is when we enter our
position
in this example say we enter it at
market if you leave this as it is and
you leave this as one percent
then your position will be exited if the
market moves one percent into profit
now because our script is going to
determine when to enter exit
our trades we don't want to use a target
profit percentage
now because there's no way to actually
turn this off i just set this to 100
so if the coin goes up 100 our position
will be liquidated
but the odds of that are pretty slim
unless you're trading a very illiquid
coin
or elon musk comes along and buys up the
entire market
in one market order this isn't going to
happen
so by setting our target profit to 100
that ensures that our target profit
percent is never hit
and that lets our script determine when
we enter or exit our trade
so because we've set our take profit to
such a high number take profit type
doesn't matter
so you can come and play around with
these click these question marks and
read up on these
settings if you want to use these
settings in your bot
you also have a trailing stop which
trails your stop-loss based on
a percentage of price from your entry
the reason i'm not using any of this is
because i can't back-test it i don't
know if it's profitable so i want to
rely on my trading view script to make
all these decisions
so we're not using take profit we're not
using loss because our script also has a
stop loss built in
and we're not using safety orders so all
of these are turned
down to their minimum value so this
whole section here is perhaps something
we could cover in another lesson if you
guys are interested in that
but i doubt many of you are if you're
using custom trading view scripts
to manage your trades and then finally
we have the advanced
settings section i don't touch any of
this but you can
make your bot only enter trades if the
daily volume
is above a certain number uh in bitcoin
so bitcoin traded so i guess you could
use this as a filter to not trade
this script on low volume days when
there isn't much liquidity
and then we have minimum price to open
deal and maximum price to open deal
they're pretty self-explanatory these
are just price filters
and then you have cool down between
deals i'd probably set this just because
we're trading a one minute chart
strategy i'm going to set this to 60
seconds
that way if something goes wrong with
our script and it pumps out a bunch of
signals in a row
we don't get a flood of orders going
into the market so this will only allow
the script
to send orders to binance once every 60
seconds
and then we have open deals and stop you
can use this to limit how many trades
your bot can take before the bot stops
i'm not going to touch anything here
except for cool down between
deals or trades so that's it our trading
bot is now set up and ready to receive
signals from our script so i'm going to
click create bot here
and i've got an error here this setting
must be greater than 0.2 so i don't know
why it lets me set it to that let me set
it to 0.21
create bot and this should work now
there we go
so there's so much building going on
around my house at the moment it's
trucks driving past
every 10 minutes so there we go we have
our bot successfully
set up and saved let's click start bot
and the bot is now turned on so let's
click ok
and the bot is running so now there's
just a couple more things we need to do
in order to get our script
to communicate with three commas the
first thing we need to do is go and get
the webhook
url i'll leave a link to this article in
the video description but this article
here
will explain exactly what we need to do
in order to
set up our tradingview custom signals
and it also contains the webhook url so
if we scroll down here
should be here somewhere there it is so
we need to copy this url
and i'm just going to open notepad real
quick and i'm going to paste this url
into notepad
because now we need to go and get the
actual alert commands
to add to our alerts to tell the bot
what to do so this is our webhook url
which receives our trading signals and
relays that to our trading bot on three
commas
next up we need to go and get the actual
commands we're going to use to manage
our trades so if we come back to our
three commas bot information screen here
and if you lose this screen you can get
back to it by just clicking on dca bot
over here and then scrolling down to
find your bot and just click on the name
of your bot and that will take you back
to the bot
information screen and if you scroll
down to the bottom of this screen
there's a whole list here of trading
messages
that we can send to our webhook url
which will manage our trades for us so
the only two messages we're going to be
using today
are these two so we're going to use
message
for deal start signal so this is the
message to initiate your trade
remember we set the bot up to initiate
our trades at market price so when the
bot receives this message
we'll just open a trade with 100 us
dollars
which is what we set our base order size
to
so when it receives this start signal
this deal star signal it will buy
100 us tether worth of ada
and if it receives the message to close
order at market price
it will liquidate our position at the
current market price
so we're going to use both of these
signals here so i'm going to copy
this signal into my notepad and also
this message here
and that's all we need to wrap up this
lesson so let's jump over to the trading
view charts and set up our alerts
so in order to confirm that our bot is
set up properly i'm going to get
our messages here i'm going to put this
on my second screen
and i'm going to create a alert at the
current market price
i'm going to turn on webhook url now
i've already got it saved here because
i've used it in the past but you can
copy and paste that url
into this web hook input here i'm going
to turn send email off and notify an app
because i don't want to be getting a
message
700 times a day whenever my bot takes a
trade
i'm going to title this alert just three
commas
and the message here is where we input
our commands to our bot
so the message to open a trade is this
one here so paste that command in there
and
if this alert gets triggered it should
open a trade
on the bot so let's create that alert
wait and see what happens
i may need to move this alert to the
current price 8368
save the alert there we go the alert has
been triggered let's go and check our
bot
so here's our events messages we're on
our paper trading account so
it should have opened a paper trading
position let me refresh the page and see
what happens there we go
so our trade has been initialized we've
bought
120 ada at the market price
perfect there we go so now let's test
the uh close trade command
come back here set a new alert
everything is all right make sure your
webhook url is inputted there
paste our exit command into here and
click create
now that alerts been triggered let's go
back to three commas refresh the page
and there we go we have closed our trade
at market
for a four cent loss and so our bot is
working
perfect the last thing we need to do is
set up our trading view script alerts so
let's go over to the pine editor and do
that
and then we can wrap up this lesson so
you'll notice on my screen that i have
all these messages
drawing these text messages drawing all
over
my charts so these are strategy comments
that occur within my pine code
so i'm not going to go over what this
script does
because this lesson will be too long i
may cover this in a future lesson if i
get time
but i'll definitely be putting this
script up in the mastery course if you
want to check that out just head to
pinescriptmastery.com
and i have a bunch of profitable
strategies over there strategy scripts
that you could use uh these command
functions
with three commas to trade crypto
automatically and profitably so the way
i've set up my
three commas trading strategy script my
trading view strategy script
is i'm using the strategy.entry and exit
functions like you normally would
but i'm also including a comment here
and this comment
contains my bot command
so whenever a trade is entered or exited
i can use this strategy comment this
order comment
to tell my bot what to do and the way
this would work is i'd come up here
i'd select my script from this condition
drop down box
and whenever a order
is triggered by this script i can use
one of these special placeholder tags to
reference
my order comment so if i click on this
little
question mark here trading view has a
list of special placeholders we can use
to reference
in our alerts if i come down to strategy
what we want to reference here is our
strategy.order.comment
special placeholder and this returns the
comment of the executed order
the string used in the comment parameter
in one of the function calls generating
orders
so strategy.entry exit or order so
normally this placeholder would be
useless but because we are
specifying our strategy order comment
here
the parameter in our function call
we can reference that in our alert
message
so by pasting that special placeholder
in here that is the equivalent
of pasting in my bot
entry or exit command like this now
there is one thing i had to do
in order to make this comment work and
that's use a bunch of
what's called escape characters string
escape characters
so you can see in this message here my
alert command
is on one line but i've had to use a
bunch of special escape characters
in order to make this string compile so
if i remove this message here
and this one down here and i paste in
my bot command into this comment
parameter
if i just try to save the script now
i'll get a bunch of errors
because the script won't compile because
of the way pinescript interprets or
compiles
our code you can see that all of these
messages here
have quotation marks and in pine script
you can only write out a string
so this comment parameter can only be
one single string
and that string must be contained
between two
of these quotation marks but this
message has multiple quotation marks
so the way we fix that is using the
backslash
escape character so by putting a
backslash in front of
all of these quotation marks this is
telling panscript that we want these
quotation marks to be included
in the string and you can see that as i
add these
backslashes in front of our quotation
marks
the color coding of this line changes as
we are turning this into
one single string uh by using this
escape character on our quotation marks
so in order to make our command compile
let me just delete all this again
paste in our entry command and just
add all of these backslashes
in front of all of these quotation marks
like so and then i'm also going to add
the new line
character that's represented by a
backslash and then the character n
that tells pine script to create a new
line
or like that just like pressing enter if
you were typing this message out
so by adding a new line to the end of
each line here
and then removing all of the spaces here
to turn this into a single line of code
pull that back as well now if i copy
this
line of code or cut that line of code
and paste it in between
these two quotation marks we have
our alert message our bot command
written out on a single line of code
that will compile
when we hit save there we have it just
like magic
so i'm going to do the same thing for
our exit order i'm going to copy my exit
command
paste that underneath this command here
put
my backslashes in in front of every
quotation mark
like so and bear with me here
there we go then i'm going to add new
line characters
i'll just copy this and paste it on the
end of every line
and then backspace all of my
spaces like that
and then cut this whole line of code
paste it into the comment
parameter of my strategy.exit function
now if i save the script whenever a long
signal is detected or a exit signal is
detected
the script is going to include our bot
message that's this long string here
as our strategy order comment and now if
i come up here and i set an alert
select my script make sure you've got
your web hook inputted here
and all we need to do here is change
this to
strategy dot order dot comment
with two curly brackets on either side
and there we have
our bot command alert message so if i
change this to three commas
entry create that alert now repainting
is not an issue
because my code handles that we use the
bar state
dot is confirmed so the script even
though it repaints it doesn't affect our
trading signals that's something i cover
in the mastery course as well
if you're unfamiliar with repainting or
you struggle with repainting
but that's it we're done so these
strategy scripts when you set alerts on
them
an alert will be triggered for both of
these entry and exit functions
so if an entry is detected an alert will
trigger and if an exit is detected and a
low will also trigger
so we only need to set one alert for the
script and as long as you set the alert
to open ended or
have a long expiry on it depending on
what trading view plan you're on
then every time an order is detected on
your chart
uh that command will be sent to the bot
and your positions will be
entered or exited accordingly so that's
it i hope you found this lesson
interesting
i know it's quite an advanced one i hope
i didn't lose you there
i know this is a bit advanced compared
to what we've covered in the past
but i've had a lot of requests for this
material and so i thought it was about
time i created a lesson
on it and now you can take this
information and go and play with it
with your own scripts and just really
quickly before i wrap up the lesson
if you're not using a strategy script
you can still use indicator scripts
to send your bot commands all you need
to do
is instead of this strategy.entry
function if you're using this on an
indicator script a regular study script
you can just add the new alert function
under wherever your
entry signals or exit signals are
detected you can just paste this command
straight into this new alert function so
you can set your message
and your frequency so i'm going to set
my frequency to alert dot
frequency once per bar and i'm going to
paste
my command in there get rid of these
extra
quotation marks and
now if i save the script that will also
compile without any errors
and if you were using this on an
indicator script say i wanted to change
this to study
and you remove all of your strategy
references so all of these
strategy.position sizes
and all of that you can use this alert
function to do exactly the same thing on
a study script
so this is how you would trigger
commands to your bot
in your code instead of having to come
up here
and write the message out in your
alert message text box and finally after
you've played around with your paper
trading account and you've got your bot
working how you would like it to to flip
it over to real
money trading it's really simple all you
do is click
on this button up here and now the
bot will execute your trades with your
actual
real binance trading balance pretty
simple
but make sure you've got everything set
up and working properly on your paper
trading account first to avoid
any nasty problems so there we have it
that brings me to the end of the lesson
we have a profitable trading view
strategy script entering and exiting
trades
through three commas third-party api
using alert commands
and we've had a 43 return
using this script between the
1st of february and the 17th of february
so 43
return over 17 days
it's not bad although as i said at the
start of the video i
would have made more money just buying
and holding this market at the moment
but anyway that's it for this lesson i
hope you found it interesting and
helpful
if you want to learn more about strategy
scripts and
pine script in general then head over to
panscriptmastery.com
where i have a bunch of lessons here
courses
there's a free course here on the
absolute basics of pinescript
there's my flagship mastery course with
85 lessons
and dozens of hours of content covering
pinescript in detail including strategy
scripts
i also have my indicators here every
indicator i've ever created including my
private ones all my profitable strategy
scripts
and then recently i released the
pinescript mentorship program where i'm
helping
traders with their own scripts by
creating lessons on subjects that they
are struggling with
so if you want to learn more about
pinescript head over here
otherwise i'll be back real soon with
another free lesson thanks for watching
thank you for your time and best of luck
with your trading
take care i'll see you in the next video
what's wrong you don't want to be on
youtube
what's this thing oh it's scary huh
it's bright and green
my god man get out of here
a little turkey
you