Trading Bot Automation For Binance - Python
Budget: $30 – $250 SGD
I am looking for help with creating a simple Python strategy to be used for crypto trading on Binance.
The script is basically a simple trade management and hedging script that will allow me to open and manage multiple orders in hedge mode.
The key input variables to be specified by the user are:
Trading Symbol
Upper Limit Price
Lower Limit Price
Take Profit (In Percentage)
Stop Loss (In Percentage)
Initial Trade: Long or Short
Hedge Multiplier
Maximum Number of Hedges
If the user specifies Initial Trade = Long, the trading engine will seek to open BUY STOP orders at the Upper Limit Price and undertake SELL STOP orders at the Lower Limit Price (as a hedge)
Let’s assume that the current market price is $100. The user specifies Initial Trade = Long and sets the Upper Limit Price to $105 and the Lower Limit Price to $95.
Once the price reaches $105, the trading engine executes a BUY STOP order, in the process initiating a long position. If the market moves to take profit, the long position is closed.
If however, the price moves down to $95, the trading engine opens a SELL STOP order as a hedge. The quantity of this order is the initial quantity X hedge multiplier. If the initial order was 100 units and the hedge multiplier was 1.2, the size of the hedge (in the form of a SELL STOP) would be 120 units.
Note that both the BUY STOP order and the SELL STOP hedge have the same Take Profit and Stop Loss values attached.
If the price moves down further, the profit target for the SELL STOP hedge and the stop loss for the BUY STOP initial position will be engaged.
If however, the market reverses again and the price travels from $95 to $105 (thus hitting the upper limit price), another BUY STOP order (with the same Take Profit and Stop Loss) is opened. The quantity associated with this order is the initial quantity X hedge multiplier X hedge multiplier = 100 X 1.2 X 1.2. There are now three orders open (2 longs and 1 short)
The process continues until the profit target for one of the orders is engaged.
Once this occurs, all orders and positions associated with the Symbol are closed.
Note: If initial position = short, the trading engine starts with a SELL STOP order at the lower limit price.
Note: the engine should also allow me to restrict the number of hedges before all positions linked to the symbol are closed. For example, there could be a field to allow for max number of hedges to be opened. The strategy terminates once either the TP or SL is hit.
Please refer to this Youtube video for the basic concept - https://www.youtube.com/watch?v=35AUnKHtHwE&t=1s . Another name for this strategy is the Zone Recovery Martingale.
The Youtube video uses a hedge multiplier of X2 but in my case, I would like it to be variable. I would also like for this to be used in crypto.
A basic UI is required for the entry of basic inputs and for the trader to start the strategy.
This project is subject to the following conditions:
Milestone 1: Coding and Testing
The milestone payment shall be contingent on the following conditions being met:
Delivery of Source Code: The Freelancer shall deliver to the Client all source code related to the project.
Successful Testing: The deliverables for this milestone shall have been successfully tested by the Freelancer and shall meet the performance specifications outlined in the project.
Bug-Free Operation: The deliverables for this milestone shall operate in a bug-free manner.
Customer Satisfaction: The Client shall be satisfied with all deliverables for this milestone. Customer Satisfaction is achieved by the written acceptance of the deliverables.
The Freelancer accepts that once the milestone payment is released, all intellectual property / rights to the code vests with the Client.
The Freelancer hereby releases the Client from any and all claims, liabilities, demands, actions, and causes of action of every kind and nature, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or relating to this Agreement or the performance or non-performance of services hereunder.
The script is basically a simple trade management and hedging script that will allow me to open and manage multiple orders in hedge mode.
The key input variables to be specified by the user are:
Trading Symbol
Upper Limit Price
Lower Limit Price
Take Profit (In Percentage)
Stop Loss (In Percentage)
Initial Trade: Long or Short
Hedge Multiplier
Maximum Number of Hedges
If the user specifies Initial Trade = Long, the trading engine will seek to open BUY STOP orders at the Upper Limit Price and undertake SELL STOP orders at the Lower Limit Price (as a hedge)
Let’s assume that the current market price is $100. The user specifies Initial Trade = Long and sets the Upper Limit Price to $105 and the Lower Limit Price to $95.
Once the price reaches $105, the trading engine executes a BUY STOP order, in the process initiating a long position. If the market moves to take profit, the long position is closed.
If however, the price moves down to $95, the trading engine opens a SELL STOP order as a hedge. The quantity of this order is the initial quantity X hedge multiplier. If the initial order was 100 units and the hedge multiplier was 1.2, the size of the hedge (in the form of a SELL STOP) would be 120 units.
Note that both the BUY STOP order and the SELL STOP hedge have the same Take Profit and Stop Loss values attached.
If the price moves down further, the profit target for the SELL STOP hedge and the stop loss for the BUY STOP initial position will be engaged.
If however, the market reverses again and the price travels from $95 to $105 (thus hitting the upper limit price), another BUY STOP order (with the same Take Profit and Stop Loss) is opened. The quantity associated with this order is the initial quantity X hedge multiplier X hedge multiplier = 100 X 1.2 X 1.2. There are now three orders open (2 longs and 1 short)
The process continues until the profit target for one of the orders is engaged.
Once this occurs, all orders and positions associated with the Symbol are closed.
Note: If initial position = short, the trading engine starts with a SELL STOP order at the lower limit price.
Note: the engine should also allow me to restrict the number of hedges before all positions linked to the symbol are closed. For example, there could be a field to allow for max number of hedges to be opened. The strategy terminates once either the TP or SL is hit.
Please refer to this Youtube video for the basic concept - https://www.youtube.com/watch?v=35AUnKHtHwE&t=1s . Another name for this strategy is the Zone Recovery Martingale.
The Youtube video uses a hedge multiplier of X2 but in my case, I would like it to be variable. I would also like for this to be used in crypto.
A basic UI is required for the entry of basic inputs and for the trader to start the strategy.
This project is subject to the following conditions:
Milestone 1: Coding and Testing
The milestone payment shall be contingent on the following conditions being met:
Delivery of Source Code: The Freelancer shall deliver to the Client all source code related to the project.
Successful Testing: The deliverables for this milestone shall have been successfully tested by the Freelancer and shall meet the performance specifications outlined in the project.
Bug-Free Operation: The deliverables for this milestone shall operate in a bug-free manner.
Customer Satisfaction: The Client shall be satisfied with all deliverables for this milestone. Customer Satisfaction is achieved by the written acceptance of the deliverables.
The Freelancer accepts that once the milestone payment is released, all intellectual property / rights to the code vests with the Client.
The Freelancer hereby releases the Client from any and all claims, liabilities, demands, actions, and causes of action of every kind and nature, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or relating to this Agreement or the performance or non-performance of services hereunder.