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How to create Trading Signals using TradingView via Webhook
In the rapidly evolving financial markets, traders consistently seek out novel instruments and approaches to attain a competitive advantage. A favorite among traders, TradingView is a widely used charting program that offers a flexible environment for technical analysis. We explore the fascinating world of cryptocurrency development to create signals on TradingView and listen to them through webhooks in this blog. Signals can help traders automate their tactics and stay ahead of the competition.Comprehending TradingView AlertsWith TradingView, users may create alerts based on custom script conditions, trendlines, and a variety of technical indicators. These alerts offer a practical approach to keeping up with market fluctuations by indicating possible entry or exit positions.Making TradingView SignalsChoosing Indicators: Make sure the technical indicators you use complement your trading approach. This could be any custom script you've written, moving averages, RSI, MACD, etc.Defining Conditions: Give your signals particular conditions to meet. For instance, you could set up an alarm to sound when the RSI hits a specific level or when the price crosses above a given moving average.To create an alert, go to TradingView's alert creation panel and enter the desired conditions. Indicate if the alert is triggered in real-time during the intrabar action or when the action closes.Testing Alerts: Before depending on your alerts in real trading, it's vital to thoroughly test them. To make sure the alerts are triggering appropriately and in line with your plan, use historical data.Suggested Read | Crypto Trading Bot Development | A Quick GuideUsing Webhooks to Hear AlertsTradingView can interface with other systems using webhooks. You can automatically get alerts in real-time and respond to these signals by integrating webhooks.Configuring Webhooks: Choose the platform or service on which you would like to receive alerts. Typical options include using your own server, third-party trading bots, or bespoke scripts.Setting up TradingView Webhook URLs: Open TradingView's alert settings and enter the webhook URL that you obtained from your external system. This URL works as the endpoint where TradingView will deliver notifications when activated.Managing Webhook Payload: Recognise the TradingView-sent payload structure. This contains details about the alert, like its symbol, duration, and the circumstances that led to its occurrence.Check It Out | P2P Crypto Exchange Development | The Future of Digital TradingBelow is the sample code for how to create webhooks:Create a module in Nest for signals webhookexport class SignalsController {
constructor(private readonly signalsService: SignalsService) {}
/**
* Handles webhook events for a specific Vault.
*
* @param vaultId - The ID of the Vault for which the webhook event is triggered.
* @param payload - The payload containing webhook data.
* @returns A promise that resolves when the webhook event is processed.
*/
@Post('/webhook/:vaultId')
@ApiPublicAccess()
@ApiOperation({
summary: 'Handle webhook events for a specific Vault.',
description: 'This endpoint is used to handle webhook events for a specific Vault based on the provided Vault ID.',
})
@ApiOkResponse({ description: 'The webhook event was successfully processed.' })
@ApiDefaultErrorsResponses()
@ApiDefaultHeaders()
public async webhook(@Param('vaultId') vaultId: string, @Body() payload: WebhookInput): Promise<void> {
await this.signalsService.signal(vaultId, payload);
}
}Signal Serviceexport class SignalsService {
/**
* Creates an instance of the InvestsService.
*
* @param logger - The logger to use.
* @param prismaService - Injected prisma service.
*/
constructor(
@Inject(LOGGER) private readonly logger: ILogger,
private readonly prismaService: PrismaService,
) {}
public async signal(vaultId: string, payload: webhookInput): Promise<void> {
const vault = await this.prismaService.vault.findUniqueOrThrow({
where: { id: vaultId },
});
this.logger.info({ payload }, `Run Signal for vault ${vaultId}.`);
// process the trade usign the signal input or any tarde as per your need
}
}Signal Moduleimport { Module } from '@nestjs/common';
import { SignalsController } from './signals.controller';
import { SignalsService } from './signals.service';
import { VaultsModule } from '../vaults/vaults.module';
@Module({
controllers: [SignalsController],
imports: [VaultsModule],
providers: [SignalsService],
})
export class SignalsModule {}Now, go to the TradingView platform and attach your webhook.https://www.tradingview.com/Explore More | An Analysis of Crypto Options and Futures Trading FeaturesConclusionThe provided code snippets offer a practical guide for configuring webhooks and handling signals. It facilitates a seamless interface between TradingView and external systems. If you are interested in developing such a feature, then connect with our crypto developers to discuss your project requirements.
Prince Balhara
25 Jan 2024
Blockchain and Legacy ERP Systems | A Revolutionary Combo
Blockchain technology is proving to be a transformative force in the digital space due to its feature-rich characteristics. It is gradually changing the way different business models work these days, such as healthcare, supply chain, government, trade Finance, banking, etc. Now, many companies using ERP systems are exploring blockchain solutions to streamline the enterprise business. There are various challenges with traditional ERP systems that blockchain technology can address. In this guide, how blockchain can become the game-changer for legacy enterprise ERP systems.
ERP (Enterprise Resource Planning)
Essentially, enterprise resource planning is software that businesses use to manage daily business outcomes like procurement, accounting, risk management, project management, supply chain operations, compliances, and many more. Indeed, ERP systems can strengthen and boost a company's overall operational performance. However, as the systems are centralized, it causes more issues than benefiting an enterprise. Here, introducing blockchain for ERP systems overall comes into play. Let's acquaint yourself with a few significant issues in ERP systems.
ERP Challenges
Opaque Centralized Production Processes
Inadequately Flexible and Modular
Resistant To Upgrades
Complicated Or Restricted Functionality
Complex UI designs and odd functionalities
High Maintenance Cost
Poor Data Maintenance Leading To Lower Quality
Now, let's take a look at how blockchain solutions and ERP can come together and benefit enterprises.
Blockchain Improving ERP Systems
Visibility and Transparency Across the Supply Chain
A Blockchain supply chain management solution for ERP systems can provide an additional layer of visibility across various supply chain processes. Generally, the supply chain is complex and fragmented in nature for any industry. Thereby, it becomes difficult to track all the processes or the state of products across different supply chain stages. Using blockchain for enterprise technology can enable the tracking of the processes and products in real-time in the supply chain. Besides, a blockchain-powered ERP system can provide real-time reports about product movements and other metrics like the temperature or the product quality.
Promotes Trusts among All the Supply Chain Participants
With a blockchain-powered ERP system, businesses can establish trust across all supply chain participants. Also, as everything in the system is visible to every network participant, it ensures the prevention of fraud or hacks. ERP systems are efficient but with heavy dependence on people instead of the system itself. However, with blockchain, instead of trusting people, enterprises can trust the system given the fact that no one can perform any illegal activities in the network.
Smart Contract Implementation For Automation
Introducing Blockchain smart contract implementation with ERP can enable secure and transparent verification of the transaction with your suppliers. Also, as the process is automated, the contract initiates itself automatically and processes the transactions once the pre-defined rules are met. For example, when trading with another overseas company, you can track the entire trading process. Once you get the product, the smart contract will automatically release the funds.
Lowers Risk In Digital Transactions
Another one of the blockchain ERP use cases is the low risk in digital transactions. In reality, ERP systems can also offer transactions; however, they aren't that secured as of now. Furthermore, security vulnerabilities enable hackers to target centralized servers and hack a transaction.
However, blockchain with ERP systems can really change the scenario here. In reality, blockchain offers peer-to-peer transaction processing, which is quite effective and fast. Also, the security protocols in every blockchain or enterprise tech are quite high. Thus, hackers can't get access to these platforms easily.
Moreover, as they have a decentralized environment, it's quite impossible for a hacker to track down and hack a user's account. And so, the coupled technology can easily offer high security for digital transactions.
Security and Data Privacy in Real-Time
Another big advantage of blockchain with ERP systems is they offer the highest level of security together. Integrating enterprise blockchain technology will prevent any data leakage, detect any security threats or flaws, and detect unauthorized real-time activities.
The best part is that it can not only detect these kinds of security concerns but can also prevent them. Blockchain for business will potentially provide encrypted access and get rid of any unwanted third parties. It can also provide full protection to information that is not for the public eye. Enterprises handle a lot of sensitive information, and getting access to privacy-based information can help maintain the company's regulations. Furthermore, it can also get rid of any vulnerabilities due to employee interactions.
Compliance With GDPR And Secure Sensitive Information Facility
Enterprises need to be GDPR compliant when communicating with customers and their personal details. In addition, you must ensure that all your customer's information is kept private and that no third-party company can mine that data for market analysis.
Take for example the Facebook scandal. You certainly don't want to go through this like that sometimes. If you don't obey the rules of the GDPR, you may face severe legal issues and fines. Not to mention that along with that too, your brand value would take a massive hit.
This is where the use of blockchain ERP comes into play. With blockchain help, you can safely store all information about the consumers without any problems. In addition, you can also completely comply with GDPR and provide total clarity in the case of customer handling.
Efficiency Processes Across all Departments
As time goes by, the process becomes even more complicated in manufacturing. Hence, many companies face errors that cause costly results. However, with help from the blockchain with ERP, they can easily automate their business processes.
More so, they can maintain cross-department operations, real-time information, and solutions, eliminating human errors, and many more. Combination companies can get rid of manual labor by using this new software, and increasing their productivity at a rapid pace.
Also, blockchain can really help get rid of the complex processes and false data along with improving deliveries.
You will also save a massive amount of time and increase the level of productivity. In fact, the blockchain's automation mechanism will compensate for the losses that arise in other departments. Employees also don't have to think about all the little information, and then the technology can quickly take off. In addition, staff can also enjoy the ease of use and minimal workload. So, businesses will genuinely raise their brand equity in the long run.
Concluding Thoughts
For the enterprises, blockchain with an ERP system is a huge step-stone. ERP systems are absolutely efficient even when they come up with some problems. Those problems, however, are not common enough for blockchain to fully replace ERPs. So, I think that blockchain will act as an additive to ERP systems for now. More so, I don't believe that blockchain will get rid of ERPs absolutely yet. Like the incorporation of blockchain and ERP will improve the supply chain's efficiency and integrity.
Blockchain also comes with its fair share of features, as far as the efficiency goes. And together with ERP, blockchain, the software can easily change the supply chain industry for good.
Technology:
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,
Odoo
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Category:
Blockchain
Mudit Kumar
16 May 2020
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