OKX has announced the launch of Signal Trading Bot. The objective is to make it easier for Signal providers and traders to create Signals based on their preferences. Meaning they can customize their trading strategies after conducting thorough technical analysis.
Signal Trading Bot goes live in association with the TradingView charting platform.
Customization is available on-preference basis. Traders and providers will have to provide details pertaining to their actions and parameters linked to trading signals. Needless to say, it is imperative for traders and providers to have an account with OKX before accessing Signal Trading Bot.
Existing users can bypass registration. New users will first have to create an account with OKX and then proceed with the next steps.
Signal Trading Bot can be created by navigating to the Trading Bots section and then heading over to the Marketplace section. Signal Bots sub-tab should appear with an option to Create a Signal. This goes on to begin the process of having a Signal Trading Bot.
Other steps of the process are as convenient as the first one. Move on to Add Custom Signal and start creating one. There will be an option to give it a username and write a description for convenient access. The description is optional, with a maximum of 500 characters allowed. Click Create Signal once the process has been completed.
OKX will then auto-generate AlertMsg Specification and Webhook URL. Users will receive the same to start setting up the Signal push on TradingView.
Moving forward, OKX is planning to launch a Signal Trading Platform. It will be backed by a cryptocurrency trading bot, helping traders to formulate their trading strategies for better results. Trading strategies will be grounded on signals that they create.
As for Signal Trading Marketplace, OKX announced its launch in July this year. Signal providers and institutions can join the pre-launch waitlist. The marketplace is expected to be launched maximum by the end of September 2023. There are reports claiming that the launch could happen anytime in August 2023 or September 2023. Users who join the waitlist will continue getting updates about the marketplace.
Signal providers will gain access to over 50 million traders. There will also be benefits of a reduction in latency by a significant margin and a reduction in cost that is associated with listing signals on other platforms. Signal traders will also have benefits coming their way. This includes no subscription fee on third-party platforms, reduction in latency, variety of Signal providers, and trust plus reliability.
Lennix Lai, the Global Chief Commercial Officer at OKX, has assured that OKX will further improve the trading experience of its users, adding that it will soon be the ultimate solution for traders who are looking to better connect with the community across the globe and elevate their game in the trading world.
That’s not all, as OKX has announced that it will be adjusting position tiers of futures and perpetual swaps. The action is scheduled to happen on August 23, 2023, from 6 am to 7 am (UTC). The objective is to eliminate risk and improve the liquidity of the market.