How to Use TradingView, Alerts and Webhook Signal Trading on Bybit

TradingView is the world’s most popular investing website and investors swear by it for a reason. Luckily for you, Bybit users can easily integrate TradingView and utilize its functions to complement trades on the Bybit exchange. While these two powerful platforms are designed for different reasons, this article explains how to use them in tandem to accelerate your trading results.

Key Takeaways:

• TradingView, which is primarily a charting platform, supports real-time data integration from various trade exchanges, as well as the capability to trade various financial instruments.

• In this article, we’ll show you how to use TradingView, integrate its Strategy Alerts and set up Webhook Signal Trading on Bybit.

What Is TradingView?

Primarily a charting platform, TradingView also supports real-time data integration from various trade exchanges and the capability to trade various financial instruments. It’s among the most prominent charting software platforms in the industry. Millions of traders rely on its user-friendly interface, intuitive charting tools and affordable cost to make important investment decisions.

You can use TradingView in multiple ways — for instance, as an independent charting platform. According to its official website, it has more than 100 built-in indicators for market analysis. Similarly, its public library contains thousands of custom-built indicators created by a talented community of developers.

You can also import your exchange data to TradingView. If your broker supports real-time data integration, you can obtain their price feed, which is then displayed in the TradingView window.

Another popular function is the social aspect of TradingView, as it’s easy to publish, share and comment on trading posts. Many crypto traders already use the platform simply to review and copy other users' trading strategies.

TradingView’s Features 

Over the years, TradingView has evolved into one of the finest charting platforms in the industry. To give you an idea of its utility, here are some of its features.

Detailed Charts

Primarily a charting platform, all of TradingView’s 12 chart types are fully customizable to suit your style. The main screen allows traders to place up to eight charts per tab, including additional elements such as indicators, intervals and drawings. You can also rewind the interactive chart to view extensive historical data, using any combination of time frames.

Technical Analysis

A trading chart is only as good as its technical analysis charting tools. TradingView comes with hundreds of pre-built studies, more than 50 drawing tools and the largest collection of community-built indicators of any charting platform. Whether it's your day-to-day use of indicators such as moving average, relative strength index (RSI), stochastics, Fibonacci tools, volume-based indicators or a complex candlestick pattern, TradingView has got you covered.

Trading Alerts

If you're used to working with trading signals and alerts, TradingView’s software is arguably the best in the business. TradingView alerts are powerful, flexible and customizable in order to favor your interest. The cloud-based interface is influenced by industry-leading Pine Script™ technology, which ensures that you can receive an alert on any kind of device. Set up to 12 alerts based on price, indicators and strategies, and receive push and webhook notifications.

Programming Language

Pine Script^® is the trading language of TradingView. Unlike client-side programming language, Pine Script is a lightweight and extremely powerful tool that can help anyone create indicators and backtest complex strategies. Most of the over 100,000 indicators available on the platform are built by traders. You can also use Pine Script to create your trading tool, and run it on the platform server.

Strategy Tester

If you have a winning strategy, you can build a TradingView indicator to simulate the particular strategy on your chart. If this seems complex, it's possible to test several ready-made strategies available in the library or the native social network. Similarly, the interface will let you change your strategy parameters in real time.

Financial Analysis

TradingView offers an extensive volume of fundamental data from all major stock exchanges. There are more than 100 fundamental fields and ratios you can use to analyze the data. For better insight, place the data right on your TradingView charts.

Social Network

You can share your ideas, trading history and strategies on the TradingView social network. This feature lets you discover great ideas and publish your own. There’s a nice chat feature for connecting with other traders and discussing hot news. You can also share refined heatmaps with other users to let everyone view a streamlined list of stats.

Pros of Using TradingView

• No installations or complex setup are required to use TradingView. You can easily access the platform using the web browser of your choice. To get a feel for the interface, try the basic version by selecting one of the "products" from the official website.

• You can discover tons of investment ideas by collaborating with millions of other users. Use the chat feature to communicate with professional traders, or learn new strategies with other market participants. It's even possible to browse published ideas and play them on an interactive chart to see how historical forecasts played out.

• Advanced trading alerts are one of the main reasons for the platform's popularity. These alerts are easy to set up and customize. The system will alert you when the signal meets your criteria. Alerts are activated through visual pop-ups, audio signals, text messages and emails.

Cons of Using TradingView

• You can’t use the platform to trade financial assets unless your broker supports the integration using an API key. It's important to remember that the platform mainly markets itself as a charting interface, which means that any kind of live trading feature is usually limited.

• While the platform offers a variety of advanced features, there’s little in terms of broker support. You’ll need to consult your broker and the TradingView handbook to use specific tools. Similarly, customer support is a bit lacking unless you purchase the premium plan to get priority support. Without a premium plan, getting stuck in a queue isn’t uncommon.

• A tiered membership plan may not suit everyone. There are three paid membership levels, and you need the premium membership to get all of the advertised features. In addition, if you've opted for a monthly plan, get ready to pay almost two times the cost of the annual plan. With each corresponding level, the monthly subscription rate gets higher than the annual rate.

How to Use TradingView on Bybit

There are two main ways to use TradingView with your Bybit account. The most direct way is to use the TradingView API that’s integrated into the Bybit platform. 

You can choose from a variety of indicators that you’d like to see on your trading chart by clicking on the Indicators button. When you’re done analyzing the indicator you’ve selected, simply right-click on the indicator and click on Remove Indicator. 

Some of the indicators offered by TradingView on the Bybit platform include Bollinger Bands®, Chaikin Money Flow, Ichimoku Cloud and MACD. This feature makes it easy for traders to analyze their charts before trading.

Alternatively, you can also use the TradingView platform to access real-time market data on Bybit. Use the TradingView chart to complete your technical analysis, and then open a trade on the Bybit platform. This is especially useful if you’re thinking of signing up for the various paid membership tiers of TradingView to gain access to more features.

To access Bybit data on TradingView, use the Symbol Search button located beside your account name on the TradingView interface. On the following screen, click on All Sources to retrieve symbols from every available broker. 

Now, you can use the search bar to filter Bybit BTCUSD and BTCUSDT Perpetuals.

Once you’re done with your analysis using the technical indicators offered by TradingView, simply head over to Bybit to execute your trade.

How to Integrate TradingView Strategy Alerts on Bybit

Bybit lets you integrate TradingView alerts so you can receive immediate alerts when the market meets your customized criteria in real time. The setup is easy and requires just a few quick steps. 

Note: Only users with TradingView Pro accounts can access this feature. 

Step 1: Connect TradingView via Bybit Webhook

After logging into your Bybit account, click on Bybit Spot or Derivatives from the top navigation menu. You’ll then find the TradingView Alert at the top right corner of the trading chart. 

In the pop-up window, click on Set TradingView Alert. Then, select Copy URL for the Bybit Webhook URL. 

Step 2: Customize Your Strategy Alerts 

Price Alerts 

You can receive immediate notifications in the form of visual pop-ups, audio signals, email alerts, text alerts or push notifications sent to your mobile when the trigger price meets the criteria you’ve set. To activate alerts:

• Click on Alert in the navigation bar.

• Customize your preferred alert preferences under Create Alert.

• Finalize your settings by clicking on Create. 

• You’ll then receive a confirmation notification of your settings.

If you want to change settings/parameters, you can hover over Alert History under Alerts to modify the changes to your Alert settings. 

Indicator Alerts

An indicator alert helps users receive updates on the market based on the indicator plots based on your time intervals. Here’s how to activate it:

• Click on Indicators in the navigation bar.

• Select Add indicator/strategy at the three-dot icon on the right in the indicator column. 

• Set your trigger method, expiration time, alert notification channel and mode of notification in the Create Alert window.

• Click on Create once your settings are confirmed.

Custom Chart Alerts

A custom chart allows you to craft an interface that suits your preferred visualization of the asset’s price over time which will help you analyze the price action more accurately. The custom chart alerts notify you based on the trend line and the expiration time that you set. Here’s how you can activate the feature: 

• Select the trend line icon on the left to draw trend lines. 

• Right-click on the drawn trend line or channel, then click on Add Alert on Extended Line.

• Set your alert preferences in the Create Alert window, including trigger method, expiration time and alert notification channel message, etc.

• Please make sure all the information you’ve entered is correct, then click on Create.

Notes:

- These alerts will be pushed to your Bybit Account, where you’ll receive them instantaneously while trading on the Bybit Desktop or App.

- Bybit Desktop: You can view your alert details at the TradingView Alert (under Announcements) in the lower right corner of the Bybit trading page.

- Please DO NOT share your webhook URL with others, as this may allow you to receive false/scam messages.

- All received TradingView alerts are sent only on behalf of the user’s settings and are not related to the Bybit platform. 

How to Set Up Webhook Signal Trading With Bybit

Setting up Webhook Signal Trading, a powerful tool that was recently added onto the Bybit platform, offers traders the advantage of automating their Perpetual and Futures contract trades through signals sourced directly from TradingView. By utilizing TradingView’s webhook feature, traders can effortlessly dispatch requests to designated URLs each time an alert activates, making their trading journey more efficient.

Please note that Webhook Signal Trading is only available when you use a paid subscription to Tradingview (Pro/Pro+/Premium).

How to Run a Strategy on TradingView

Step 1: Navigate to the Bybit Derivatives trading page of the contract you’d like to trade (e.g., BTCUSDT) and click on Tools in the order zone on the right side of the page. Then, select Webhook Signal Trading.

Step 2: Click on Create Now to create a webhook. Ensure that you fully understand the overview of this function before clicking on I’ve confirmed the above.

Step 3: Set up your webhook by following these steps:

1. Choose your preferred symbol for Webhook Trading. Ensure it matches the symbol you’re using for your strategy on TradingView.

2. Under Position Mode, select One-Way Mode. Note: Do not select Hedge Mode, which does not support Webhook Signal Trading.

3. Enter your signal name for your TradingView strategy.

4. Click on Create Webhook.

Step 4: Now that you’ve created your webhook, continue with the following steps:

1. Click on the respective contract to run a strategy on TradingView.

On the TradingView page, click on Strategy Tester to load your strategy. Please note that Webhook Signal Trading is designed solely for executing strategies, and does not accommodate indicators. To determine whether an indicator or a strategy is in use on your chart, inspect the initial segment of the Pine Script source code. If it states Strategy, a strategy is being utilized. If it states Indicator, an indicator is active on your chart.

2. Open the strategy settings and parameters of your strategy:

1. Set the initial capital to your Bybit account balance.

2. Enter your desired quantity per order. After the signal is received, the orders will be placed for you with that quantity.

3. Click on the Alert icon on the strategy tester to create an alert for your strategy, and paste the message template and Webhook URL into the Alert pop-up window.

4. Set the initial capital to your Bybit account balance.

1. Copy the message template from the Bybit page, and paste it into the message box in the Alert Settings tab.

5. Copy the Webhook URL from the Bybit page and paste it in the Alert Notification tab. 

6. Click on Run the Webhook.

Step 5: You have successfully set up Webhook Signal Trading. You’ll receive a push notification on your Bybit app or browser for the signal of your strategy.

Notes:

• NEVER share your webhook URL with others, as this can lead to false/scam messages or false orders placed from others.

• All received TradingView Alerts are sent only on behalf of the user’s settings. Bybit is not responsible for any trading losses arising from use of this feature.

• Please note that there may be risks of signal loss or delay, as the triggering of signals relies on a third-party platform. 

• This feature is available exclusively for Derivatives trading, including USDT Perpetual, USDC Perpetual, Inverse Perpetual and Inverse Futures on Bybit’s official website. It requires funds in your Derivatives or Unified Trading Account.

• Please ensure your strategy script does not rely on the Hedge position mode, as Webhook Signal Trading is only supported for One-Way Mode.

• Please note that you have to create the webhook separately for each trading pair.

• Currently, for Inverse Contracts, only the order size in contracts is supported. Entering the order size in USD or as a percentage of equity may result in order placement failure. This is due to the differing logic between TradingView and Bybit for calculating contract value.

• If you enter the order size by contract, please note that for an Inverse Contract, 1 contract unit equals 1 USD. However, for a USDT Perpetual or USDC Contract, such as BTCUSDT or BTC-PERP, 1 contract equals 1 BTC.

View Your Signal Details

Now that you’ve successfully set up Signal Trading, here’s how you can view the specific details of the Webhook Signal.

Step 1: Under the Tools tab at the bottom of the trading page, click on Webhook. You will then be able to view Signal Name, Triggered Times/Trade Times, Status, Realized P&L and Time Created. 

Step 2: Click on the Details button to review your Webhook URL and Message Template. You’ll also be able to view executed trades via this strategy.

An alternative way to view the details of your Webhook Signal is as follows: 

Step 1: Hover your cursor over the Orders tab on the navigation bar at the top of the page and select Derivatives Order. 

Step 2: Click on Tools Historyon the left side of the page, and change the Tools Type to Webhook to view the details.

Notes:

• The Realized P&L displayed on the Webhook Strategy tab is the realized P&L for the trades executed by the respective Webhook Strategy. Any P&L derived from manual trades you’ve executed will not be reflected under Details.

Terminate Webhook Signal

There are two ways a Webhook Signal may be terminated: manually and automatically.

If you would like to manually terminate a Webhook Signal, navigate to the Tools tab at the bottom of the trading page. Then, find the signal initiated by the Webhook Signal you wish to close and click on the corresponding Terminate button. 

However, if you wish only to temporarily stop the strategy, click on the corresponding Pause button instead.

An automatic termination of a Webhook Signal may occur for several reasons:

1. If 10 consecutive order failures occur, the strategy will be terminated.

2. If the contract type selected is not supported.

3. Incomplete set parameters can lead to automatic termination. 

4. If an unsupported position mode (Hedge Mode) is selected.

5. If the selected Futures contract is nearing its delivery date.

6. If your account is being upgraded to a Unified Trading Account.

7. If you have reached the maximum number of Webhook Strategies that can be created. Each symbol can have five Webhook Strategies running simultaneously, while each Bybit UID can have a maximum of 10 Webhook Strategies running at the same time. 

8. If your account is restricted.

Closing Thoughts

As you can see, Bybit and TradingView complement each other in many ways. Subscribing to the individual platforms is a 2-in-1 package that will enable you to use up to 100x trade leverage and enjoy advanced charting tools not available anywhere else.

Ready to start trading with Bybit? Click here to register.

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