Best option for Auto fibonnaci trading with IBKR

L

Leopard9

Hello everyone.

I would like to ask what the best options are to create an auto trading algorithm based on an auto fibonnaci tool to trade intraday. My broker is IBKR.

Trading view has such a very competent auto fibo tool available, just needs some tweeking. Would I have to buy the platform though in order to auto trade from there?

The idea is to have the algo to trade between levels (selected on backoffice according to market conditions) when certain conditions are met (NQ/ES moving more the X ammount of points and candlestick reversal patterns), then the fibo draws and limit orders go live between levels.

What is the best option here?

thanks
 
Can you elaborate please? I dont have any experience with API or auto trading for that matter. Trying t find a solotion, hire a coder.
 
easymon1 said:
What do they say when you look into it on the Trading view website?
More...


I know at this point it is possible on the trading view environment but I am trying to find out if there is a better option, especially server side with no need to have the pc running.
 
You need to do a of defining before you can even hire a developer, including, as just a sampler:

Defining the start-end of the Fib range. (context is hard to determine sometimes)
Orders (which types are used)
How to deal with "near targets" beyond a simple trail because: see next item.
Overfills and underfills
Error conditions (disconnects)


This is all pretty straightforward to code in a scripting language, versus an API. Recommend prototyping in a scripting language such as Easy Language or PowerScript first. Once you do that handing off to a Developer is much easier.
 
Bad_Badness said:
You need to do a of defining before you can even hire a developer, including, as just a sampler:

Defining the start-end of the Fib range. (context is hard to determine sometimes)
Orders (which types are used)
How to deal with "near targets" beyond a simple trail because: see next item.
Overfills and underfills
Error conditions (disconnects)


This is all pretty straightforward to code in a scripting language, versus an API. Recommend prototyping in a scripting language such as Easy Language or PowerScript first. Once you do that handing off to a Developer is much easier.
More...


I got it all in my head, I just didnt´t go through all of it here. Regarding that other stuff you said I have no idea what it all means. What is my next step? Server side is it possible as the fibs are automatic (intraday)? API or scripting, pros and cons?
 
Leopard9 said:
I know at this point it is possible on the trading view environment but I am trying to find out if there is a better option, especially server side with no need to have the pc running.
More...

You can sign up for a server, and run your auto trading code on there so that it keeps running even when your home pc is off. Many of our server customers use the IBKR api for running their trading bots.

You're not going to find any brokers that execute your code for you on their servers, because ultimately you need to be the responsible party for submitting order executions. The next best option is to get your own server and run your algo on it.

Since you already like the TradingView Fib indicator, and IBKR can be connected to TradingView for executing orders, hire a coder to create a private Pine Script for you for the strategy you have in mind. Then sign up for our servers, TradingView Desktop is already preinstalled on it, and let it run your autotrading script.
 
Ninja Mobile Trader VPS said:
You can sign up for a server, and run your auto trading code on there so that it keeps running even when your home pc is off. Many of our server customers use the IBKR api for running their trading bots.

You're not going to find any brokers that execute your code for you on their servers, because ultimately you need to be the responsible party for submitting order executions. The next best option is to get your own server and run your algo on it.

Since you already like the TradingView Fib indicator, and IBKR can be connected to TradingView for executing orders, hire a coder to create a private Pine Script for you for the strategy you have in mind. Then sign up for our servers, TradingView Desktop is already preinstalled on it, and let it run your autotrading script.
More...


Sounds good. This is interesting. I will dig into it. Thanks
 
Leopard9 said:
I got it all in my head, I just didnt´t go through all of it here. Regarding that other stuff you said I have no idea what it all means. What is my next step? Server side is it possible as the fibs are automatic (intraday)? API or scripting, pros and cons?
More...
Good Luck. Anytime anyone says "they go it all in their head" and cannot write basic scripts code, they are not quite clueless but darn close. You are asking too many basic questions that are answered on the web once you have basic skills.


Next step: Write a VERY simple system that does a buy and sell. Ignore the Fib stuff for now. There is so much infrastructure to get up and running for production, that will take longer for you than implementing the actual trading system.

BTW: Some systems are actually not suitable for production systems. People think that anything can be coded up. One can "architect" a building design that cannot be built or are so difficult to build it is not practical. Personally, I run away from the "presentation" like you offered. Just trying to pop the bubble kindly. Clients like this are the worse type to get something done. OTOH, they are great for sucking all their money up while adding the next "thing in their head".

There will be multiple layers of holes in your system. Allow 18 months to get up to a production system. Best of luck and your research. I'm out.
 
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