Tradingview has revolutionized the online web-based charting experience. Dhan has disrupted the broking landscape with fast & furious feature updates, an in-house super fast order management system, unparalleled customer connect and service. Together Tradingview and Dhan provide seamless automated trading experience in the Indian stock market.
Let’s dive a little deeper on Tradingview - Dhan
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As traders we need strategies to trade. A well-rounded and tested strategy is a certain edge that a trader has over the market. Tradingview provides an exhaustive library of strategies, some directly from Tradingview and many more from the Tradignview community the world over. Most of it is open source. So it is possible to learn and understand what the strategy does and how it does it.
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Any strategy can be instantly backtested with a large sample of historical data spanning many years into the past. So we know before we fire an order in the live market about the possible performance. This helps us to set the right expectations, have trust in the strategy and balance fear and greed.
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Any strategy can now be automated with Dhan via the webhook interface. All the settings once done live in the Tradingview cloud. Trades get placed in auto mode even if our PC or mobile is OFF. The delay for order execution at exchange from alert generation time in Tradingview is <= 1 Second.
Recently Dhan conducted a workshop on how to use Tradingview and Dhan together in auto mode as part of their V2 API launch.
The code discussed in the workshop is given below. It uses the popular supertrend strategy from the Tradingview library. Just enough code is then added to fire orders in the Dhan platform based on the order specific JSON values pasted in code.
There is a more advanced code with targets, stop loss and auto option strike selection available here along with a video crash course on Tradingview Pine Script.