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Using Custom Signals on Coinrule
Using Custom Signals on Coinrule

How to Setup Your Rule Using Custom Signals

Reni Asumah avatar
Written by Reni Asumah
Updated over a week ago

Using Custom Signals on Coinrule

Custom Signals allow Coinrule users to connect various scripting outputs to automate trading strategies, similarly to how the integration with TradingView currently functions. The signal can come from any source - whether you're making use of TradingView or crafting your own Python scripts, Custom Signals provides the flexibility you need.

Getting Started with Custom Signals

  1. Access Open API Specifications: To begin, access our Open API specifications available at Coinrule API.

  2. Create a Rule: Set up your automated trading rules in Coinrule. You can use Custom Signals just as you would use TradingView signals.

  3. Launch Your Rule: After setting up your rule, click 'launch' to activate it.

  4. Webhook URL: Upon rule creation, you'll receive a unique webhook URL. Signals must be sent to this URL to trigger the corresponding trading actions on Coinrule.

  5. Configure Signal Source: Your signal can originate from any source—TradingView, a custom Python script, or any other script that generates trading signals. Configure your source to send signals to your Coinrule webhook URL.

  6. Signal Format: When sending signals, if the rule is designed to do both BUY and SELL actions, then the message displayed contains "ACTION". Your script needs to replace "ACTION" with either "buy" or "sell" depending on your script's signal. See an example of where to find the JSON format for the POST request below:

7. Programming Language Support: When building a custom signal rule, you can select from a variety of programming languages to match your development preferences.

What's New in Custom Signals V2?

Coinrule has introduced Custom Signals V2, featuring significant and ground-breaking enhancements:

  • New Webhook URL and Message Format: With V2, all rules now utilize a new hook URL and a more robust message format.

  • Dynamic Signal Handling: Users can now send signals without specifying the target coin to Buy/Sell in the rule itself, allowing for dynamic decision-making across different cryptocurrencies.

  • Anytime Operator: Users can now utilize the 'any time' operator when trading with Custom Signals. By using the Any Time operator, the first condition set in the rule can restart as soon as the first action is executed. The rule won't wait for the second action to complete which will allow the rule to open multiple trades at the same time in parallel.

  • Signal Queue System: Custom Signals V2 includes a signal queue to ensure no signal is missed. Previously, new signals could overwrite existing ones if sent too close together. The updated system manages signals more effectively, with a rate limit of one signal per rule per second to maintain performance integrity.

    By leveraging Custom Signals, you can enhance your automated trading strategies on Coinrule, making your trading more efficient and tailored to your specific needs.

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