It’s class time!
At Mercor, we strive to be the most user-friendly, intuitive, and easy-to-use algorithmic copy trading platform in the industry. The best way to make Mercor the most user-friendly algorithmic copy trading platform is to educate our users.
In doing so, we would like to share more educational content through our blog!
By having your bots run on the platform, you can earn by people investing in your trading bot.
The trading bots on the Mercor platform trade funds automatically. In this way, Mercor allows traders to earn (almost) entirely passively. The same applies to developers! By having your bots run on the platform, you can earn by people investing in your trading bot. We understand ‘algorithms’ and ‘developing’ might sound complex but don’t worry as we present you with an extensive tutorial on how to create these automated strategies.
The most commonly used platform for creating strategies is TradingView. TradingView is a charting platform and social network used by 30M+ traders and investors worldwide to spot opportunities across global markets. It allows its users to create a wide range of strategies and send signals through TradingView Alerts.
TradingView alerts are immediate notifications that go off when your custom criteria are met. For example: “Alert me if Bitcoin crosses $60000.” Users can choose from visual popups, audio signals, email alerts, and email-to-SMS alerts, as well as PUSH notifications that are sent to your phone.
In this article, we will explain two methods that allow you to create automated strategies on Mercor via TradingView.
The first method will be through the ‘Strategy Alerts’ functionality on TradingView. By using the ‘Strategy Alerts’ functionality, users can create a specific strategy and accordingly create alerts that trigger whenever certain parameters are met.
For more information about TradingView Alerts, please find the link below:
The second method that we will explain, which also allows you to automate a strategy via TradingView, will be through Pine Script. Pine Script is a programming language developed by TradingView, used for writing proprietary indicators and strategies that can be added to your chart and used in technical analysis. There is a special editor in the lower panel of your chart that is specifically designed for writing and editing code.
Please find a step by step guide about the two methods explained below:
STEP 1 — Deploy an algorithm
Go to the ‘New Algo’ page in the Developer Environment. This page allows you to create an algorithm with your own parameters. For more information regarding the ‘New Algo’ page, please go through the following link to our manual:
Deploy to the BSC blockchain
When you are ready to deploy your algorithm, press the ‘Deploy to the BSC blockchain’ button on the ‘New Algo’ page. After confirming the transaction, a loading screen will pop up followed by the following confirmation:
As you can see in the above picture, you will receive two important details which are needed in order to send TradingView Alerts to the Mercor platform’s API:
The algorithm address is the Binance Smart Chain contract address which you will need in order to control the algorithm.
The Secret token is the secret API key. This allows you to communicate with the Mercor API and to send buy and sell requests.
STEP 2 — Go to TradingView
Now that you have received the ‘Algorithm Address’ and the ‘Secret Token’ of your algorithm, go to TradingView.
As stated in the introduction of this article, TradingView allows its users to create a wide range of strategies and send signals via TradingView Alerts. Pro, Pro+ and Premium users can also receive webhook notifications when an alert is triggered.
Webhooks allow you to send a POST request to a certain URL every time the alert is triggered. This is where our redirect comes into play, as we enable easy integration with TradingView alerts. This feature can be enabled when you create or edit a Strategy Alert on TradingView.
In the following step, we will learn how to create Strategy Alerts on TradingView and communicate with the Mercor API via webhooks.
STEP 3A — Connect Your TradingView Strategy With Mercor
If you have your own TradingView/Pine Script strategy/study, please jump to Step 3B.