Telegram Signal Bot - Trading on Top Telegram Channel

In the dynamic realm of cryptocurrency trading, the shift towards automation is imperative for maintaining an edge. This article will guide you through setting up a Telegram signal bot using Growlonix, a platform that enhances trading efficiency through automation. Often, traders miss critical signals or face delays in executing trades based on these signals. These delays can significantly reduce profit margins or even result in losses.

By automating the process with a Telegram signal bot, you can capture and execute trades almost instantaneously as signals appear. This approach not only minimizes the time between signal receipt and order placement but also mitigates the risks associated with manual execution. The Growlonix platform facilitates the integration of these bots into your trading strategy, enabling both novice and experienced traders to automate their trades based on signals from various Telegram channels and groups. This setup ensures that you’re always aligned with the most current market dynamics without the need for constant manual oversight.

Table of Contents

Introduction

To automate trades via Telegram signals, there are three major steps:

Create Triggers: Act as a template to interpret signals in a predefined manner.
Add the Telegram Signal Bot: Add it to your channel or group so that our system can receive messages.
Verify Trade Execution: Send test signal, Check the signal logs page and trades page.

Let’s explore each step in detail.

Step 1: Configure Signal Bot by Creating a New Trigger

Create-trigger-to-automate-telegram-signals

1.1 Navigate to Signals Page

To begin, navigate to the signals section in Growlonix, found in the left-hand menu. This section is where you will configure your new Telegram signal bot. On the “Create Trigger” page, you will see a form on the left dedicated to setting up your signal bot. On the right, there is a guide with useful information to help you through the setup process.

1.2 Select Exchange

Before proceeding, ensure that you have selected your exchange from the top drop-down menu. If you are not ready to connect to an exchange, you can choose an option from the unconfigured exchange list to experiment without connecting API keys.

1.3 Select Telegram Tab

At the top, you will see tabs with different signal type options such as Telegram, Webhook, Email. Choose Telegram to configure a Telegram signal bot.

1.4 Find Your Channel ID

The first step in configuring your signal bot is to obtain your Telegram channel ID. This ID allows the bot to recognize your channel. To find your channel ID, forward any message from your channel to the Growlonix ID bot (https://t.me/growlonix_id_bot), which will respond with the necessary ID. Copy this ID and input it into the channel ID field in the form.

Note: If you are not the owner of the group/channel, you need to forward messages from the desired group/channel to another group that you own. Detailed instructions for that setup process are given later in this article.

1.5 Selecting a Strategy

Next, select a strategy or order type for your signals. Options such as Market Buy or DCA Long can be chosen from the dropdown menu, depending on the format of your signals.

1.6 Defining the Market

Specify the market for your signals, such as BTC or USDT. Different markets will require separate signal bots. Ensure that your signal contains the market in the text message (e.g., #XRPUSDT, XRP/USDT). Your signal must contain both base and quote coins in one of the supported formats.

1.7 Set Leverage

For futures exchanges, use the ‘Leverage’ input drop-down to set your preferred leverage, which will apply to all coin pairs involved in the given signal.

1.8 Setting the Trade Amount

Decide on the investment amount for each trade. This can be a fixed amount or a percentage of your available balance. If your strategy includes multiple entry prices, this amount will be allocated accordingly across all targets based on the signal configuration.

1.9 Activating Demo Mode

For those who prefer to test their strategies without any risk, activate the demo mode. This allows you to simulate trades without using real funds (also known as paper trading).

1.10 Advanced Settings

Use the ‘Add Settings’ button for further customization options, which will be covered later in this tutorial.

1.11 Create Trigger

Once you have completed the necessary configurations, click the “Create” button to finalize your signal bot setup.

Step 2: Adding the Signal Bot to Your Channel

To allow the Growlonix server to access messages from your Telegram channels or groups, add the Growlonix signal bot (https://t.me/growlonix_signal) to your channel. We will cover four different types of channels/groups and how to deal with each scenario.

2.1 Public Channel/Group with Admin Rights

When you are the admin of a group/channel that you want to automate, it’s simple. Just add our signal bot (https://t.me/growlonix_signal) in your channel/group so that it can read messages and send them to our server. You don’t need to make this bot an admin, which reduces associated risks.

2.2 Public Channel/Group without Admin Rights

If you are not the admin of this public channel/group, write to us via email support or Telegram support along with the channel/group link, and our support team will join our signal bot in that channel. Alternatively, you can forward messages from this channel to another channel that you own.

2.3 Private Channel/Group with Admin Rights

If you are the admin, simply add our signal bot (https://t.me/growlonix_signal) in your channel/group.

2.4 Private Channel/Group without Admin Rights

If you are not the admin of the channel/group, forward messages from this channel/group to another channel or group created by you. Then connect this new channel/group, which will have a copy of all the forwarded messages, and add our signal bot (https://t.me/growlonix_signal) there.

Bots for Auto-Forwarding

TG Feed
Junction Bot
Group to Channel Bot
@ChannelForwardBot, @MessageForwarderBot, @feedforwardbot, @telegraph

Step 3: Verifying the Setup

3.1 Active Triggers

Triggers section containing active signal bots

To manage or evaluate your active triggers, select “Active” at the top of the page. This will redirect you to the triggers table within the trade page, listing all your configured signal bots. You can see a list of all your active or canceled triggers.

3.2 Signal Logs Page

Signal Logs page to monitor and debug signals

For a comprehensive analysis of the trades triggered by your signals, visit the signal logs page by clicking on the “Logs” button from the Triggers Table. Here, you can see detected coin pairs, price targets, trade counts, profit and loss, trade status, duration, date, time, and more.

3.3 Open Orders

Once you send any signal in your Telegram group/channel, it will be read by our server, and a trade will be created based on the settings defined in the triggers. These trades can be found in the “Open Orders” and “Order History” tabs on the Trade page.

3.4 Cancelling a Trigger

If you need to cancel the trigger, go back to the triggers tab on the trades page and select “Cancel” for the corresponding trigger.

3.5 Send Sample Signal for Testing

Test Signal setup by sending a sample signal

To ensure that your setup is correct, send a sample signal using one of the supported signal formats. After sending the signal, verify the trade execution by checking for new trades in the “Open Orders” table. If there is no trade in either the “Open Orders” or “Order History” tabs, look at the Signal Logs page to identify the problem. The Signal Logs page provides logs of all the signals received by our bot and error messages, if any, related to the signal. We have covered the most common problems users face while setting up signal bots and how to solve them in the FAQ section.

Congratulations!

You have now learned how to set up a trigger and automate your Telegram signals. We will now move on to more advanced topics. First, we will describe different inputs and options in Advanced Settings, and then we will cover examples of common trade setups, from simple to more complex ones.

Advanced Settings (Optional)

Click on the “Add Settings” button under the Advanced Options section. This will open a popup with the title “Advanced Trigger Options”. We will now look at the functionality of each input in this popup one by one.

4.1 Entry Price

Entry Price is used to define the buy price for long positions and the sell price for short positions. If this entry price is defined, the entry price from the signal will be ignored. The entry price input is not applicable for all order types. For example, if you selected “Market Buy” in the strategy field, the Entry Price will be ignored. Entry price will only be applicable in strategies where we can define a price condition while opening a trade. If you selected Stop Buy + OCO Sell, the entry price will be applied to the stop buy condition. If you selected Stop Sell + OCO BUY, the entry price will be applied to the stop sell condition. The entry price will always be applied to the primary order in your order strategy.

You can input a single value or multiple comma-separated values. Absolute Price and Percentage Price modes can be toggled using the percentage (%) button at the end of this input. Let’s look at different types of Entry Prices:

Example 1: 100
Example 2: 100, 200, 300
Example 3: 5%
Example 4: 2.5%, 5.5% (click on the percentage sign at the end to enable percentage value. Don’t input % in the price field)

Entry Price Conditions:

Less Than (LTE): This condition means an order will be executed when the price of a given coin becomes less than or equal to the given entry price (i.e., price < entry price). Plus/Minus signs before the price will be ignored in this input.
Greater Than (GTE): This condition means an order will be executed when the price of a given coin becomes greater than or equal to the entry price (i.e., price > entry price). Plus/Minus signs before the price will be ignored in this input.
Range (BETWEEN): This condition means an order will be executed when the price of a given coin lies between two input prices. Plus/Minus signs before the price will not be ignored in this case. You can define the price like this:
- Example 1: 1%, +1%
- Example 2: 2%, +3%
- Example 3: 100, 200

4.2 Take Profit Price

Take Profit price is used to close a position at a certain profit. In the case of a long position, the take profit price is for a sell order, and for a short position, the take profit price is for a buy order. If this take profit price is defined, profit targets from the signal will be ignored if present. It is only applicable if the order is a conditional order. For example, in the order Stop buy + OCO SELL, the take profit price will be used to execute one of the sell orders in OCO sell. You can click on the percentage button at the end of this input to toggle between absolute value and percentage value. Plus/Minus signs in this input will be ignored. Let’s look at some examples:

Example 1: 100
Example 2: 90, 100, 110
Example 3: 2%
Example 4: 2.5%, 3.5%

4.3 Stop Loss Price

The stop loss price is used to close a position at a specified loss. In the case of a long position, the stop loss price is set for a sell order. In the case of a short position, the stop loss price is set for a buy order. If a stop loss price is defined from this input, the loss target from the signal, if detected, will be ignored. It is only applicable if the order has a conditional sell order that can be used as a stop loss order. You can click on the percentage button at the end of the input to toggle between absolute value and percentage value. Plus/Minus signs in this input will be ignored. This input doesn’t accept multiple values. There can only be one stop loss price, either in absolute or percentage terms. For long positions, a stop loss order is used, and for short positions, a stop buy (GTE) order is used to define stop loss.

4.4 Buy Trailing Offset

Define trailing offset for trailing buy orders. If the selected strategy contains trailing buy, it will define the trailing offset of that trailing buy order. If the selected strategy contains stop buy, it will convert stop buy market to stop buy trailing. In scenarios where the selected strategy doesn’t contain any trailing buy or conditional buy, this input will be ignored. To define 1.5% as trailing offset, enter 1.5 in this input field.

4.5 Sell Trailing Offset

Define trailing offset for trailing sell orders. If the selected strategy contains trailing sell, it will define the trailing offset of that trailing sell order. If the selected strategy contains stop sell, it will convert stop sell market to stop sell trailing. In scenarios where the selected strategy doesn’t contain any trailing sell or conditional sell, this input will be ignored. To define 1.5% as trailing offset, enter 1.5 in this input field.

4.6 Position Action

This input is only applicable if you have enabled hedge mode in futures trading. In hedge mode and single orders like market buy or market sell, we need to explicitly tell the system what action to perform using this order: whether to open a position or close a position. In the case of order combinations like market buy + OCO sell, this input is not needed, as we assume the primary order (market buy) is for opening a position and the secondary order (OCO sell) is for closing that position.

4.7 Risk Percentage per Trade

Risk percentage per trade is used to define how much of the total available balance to risk for a given trade. Variables considered in these calculations are available balance, stop loss, and entry price. Based on these variables, position size is calculated using this formula: Position size = (risk * balance) * entry price / 100 * (entry price - stop loss). Entry Price is assumed to be equal to the stop buy target price for long positions. Entry price in percentage is not supported.

4.8 Entry Targets Weight

This is needed if multiple targets are present in the entry price. It is applicable to both the targets present either in the signal or Fixed entry target price defined via this form. It is assumed to be in percentage. Let’s take an example to demonstrate its use case clearly. Suppose you have three price targets as entry prices: 90, 100, and 110 in a long position. If you define Entry targets weight as “60, 30, 10,” then 60% of the quantity per trade will be used in the first buy target, 30% in the second buy target, and 10% in the last buy target. Similarly, for short positions, the percentage of the quantity per trade will be used in each target of the Stop sell order. By default, Entry targets weight is equal weight in all the targets. So if you give multiple entry prices via this settings popup or via the signal, equal quantities will be used in each target. For example, if there are two entry targets, then 50% of the quantity per trade will be used in each target. If there are three targets, then 33.33% of the quantity per trade will be used in each target.

4.9 Profit Targets Weight

This functions similarly to Entry targets weight described above. The only difference is that it is applicable for Profit targets.

4.10 Limit Signal Count

By default, triggers will keep processing all new signals and won’t stop until 10,000 orders are created via the signal, which is the default value. Users can set this limit if needed. For example, if someone wants to execute only five trades via a signal provider and then stop processing further signals, they can input 5 in this field. This input only accepts integer values ranging from 1 to 10,000.

4.11 Limit Positions per Market

This sets the maximum number of active trades per coin pair from a given signal provider. The default is NO-LIMIT. This is a very important filter and is frequently used by traders to avoid duplicate trades. If you put 1 in this field, the bot will open only one active position for a given coin pair. If more signals come and a position previously opened hasn’t been closed, the bot will ignore the new signal. Note that this filter is applicable only in the context of a trigger. You can have multiple trades opened via another trigger or another signal provider for the same coin pair. Let’s say you want to open a maximum of one long position and one short position for a given coin pair. Then you can define Limit positions per market as 1 for both triggers.

4.12 Limit Positions per Signal Provider

This sets the maximum number of active trades from a given signal provider. The default is NO-LIMIT. This limit is applied to the sum total of all the active trades opened by a particular trigger. This filter is very useful for managing funds. Let’s suppose you have a total of 500 USDT in your account, and you have allocated 100 USDT per trade. You can have a maximum of five active trades at a time, so you would put 5 in this case. If you want to use only 300 USDT from the total available funds, put 3 in this field to have a maximum of three active trades with 100 USDT each, totaling 300 USDT.

4.13 Relative Strength Index (RSI)

This filter can be used to improve signal accuracy. If enabled, the bot will ignore the signal if the coin’s RSI value does not match the defined criteria. For example, if you don’t want to accept buy signals from your signal provider if RSI is above 70, then under the condition input, select “less than” and under value input, put 70.

4.14 Trading View Rating

This is another filter to improve signal accuracy. Tradingview gives buy/sell ratings to each coin based on many indicators. These ratings are in the context of a given timeframe. For example, if you want to only accept buy signals for your signal provider when the Tradingview rating is “Strong Buy,” select “Strong buy” under the rating input and select your desired timeframe in its adjacent input.

4.15 Whitelist (Contains All Words)

The keyword filter plays a significant role in managing multiple strategies at a time. Any keyword present in this input must be present in the signal; otherwise, the signal will be ignored. It can have single words or multiple comma-separated words.

Example 1: “long”
Example 2: “long, usdt”
Example 3: “keyword 1, keyword 2, keyword 3”

“Contains All Words” in this whitelist filter means each word defined in this comma-separated list of words must be present in the signal. If any word is missing from the signal, that signal will be ignored.

4.16 Whitelist (Contains Any Word)

This is similar to the above filter “Whitelist (Contains All Words)” except in this filter, if any of the words from this input are present in the signal, then the signal will be executed. If none of the keywords defined in this input are present in the signal, then that signal will be ignored. For example, “long, usdt.” If the signal contains the usdt keyword but doesn’t contain the “long” word, it will still get processed. However, if a signal doesn’t contain both the “long” keyword and the “usdt” keyword, that signal will be ignored.

4.17 Blacklist (Not Contains)

This is the opposite of the “Whitelist (Contains All Words)” filter. Any keyword present in this input must not be present in the signal; otherwise, the signal will be ignored. For example, if you put “short” in this input, then all those signals which have the “short” keyword in them will be ignored. You can define multiple comma-separated keywords as well, like we did in the above filters.

4.18 Break Even

Break Even stop loss is a very sought-after feature as it moves your stop loss near the entry price as soon as one of your profit targets is hit. It gives traders the advantage of chasing higher targets while being assured that if the price falls, the remaining targets can come out at break even price (no profit and no loss price). We have several types of Break Even stop loss depending on the behavior of the stop loss as more targets get hit. Note that for this to work, your strategy must have both take profit and stop loss orders in it, which are usually present in OCO SELL and OCO BUY. Traders often use this feature where the secondary order is an OCO order. Examples of supported orders/strategies – “Stop buy + OCO sell,” “market buy + OCO sell,” “DCA long,” “DCA short,” “market sell + OCO buy,” etc.

We will now cover different types of Break Even stop loss. For this, let’s consider our trade has four profit targets – 2%, 5%, 10%, 15%, and one stop loss at -8%:

Move SL to Entry Price: This setting will move the stop loss to the entry price, which is the average buy price for long and the average sell price for short. It will happen the moment the first profit target is hit (2% in our example). When the price hits more profit targets, it will not make any changes to the stop loss position.
Move SL up 1 Step Behind: This will move the stop loss to the entry price when the first profit target is hit (2%). When the second profit target is hit (5%), the stop loss will be moved to the first profit target. When the third profit target is hit (10%), the stop loss will be moved to the second profit target (5%), and so on.
Move SL up 2 Steps Behind: This will keep the stop loss two steps away from profit targets. When the first profit target is hit, it won’t affect the stop loss. When the second profit target is hit, the stop loss will be moved to the entry price. When the third profit target is hit, the stop loss will be moved to the first profit target, and so on.

4.19 Break Even Distance

This input is used in combination with the above input. It is optional and If the break even type is not enabled, then this input field will have no effect. It is used to move the stop loss to the target position with some offset or some distance when profit targets are hit. Let’s take an example to understand this more clearly. Assume the user has selected “Move SL 1 step behind” in the above input field. If the user has put -0.5% in the break even distance, then as soon as the first profit target is hit, the stop loss will move to entry price – 0.5%. When the second profit target is hit, the stop loss will move to the first profit target – 0.5%, and so on. Users can define both positive and negative values in this input, and also both absolute and percentage values by toggling the percentage button at the end of this input.

Trade Setup Examples

We will now look at some of the most popular trade setup examples to further demonstrate some use cases:

1. MARKET BUY -> OCO SELL

In this example, we want to place a market buy order on the exchange as soon as a signal is received. Profit targets and Stop loss from the signal will be populated in OCO sell. Some users may want to use profit targets from the signal but use a custom stop loss. Select “Market Buy + OCO SELL” in the strategy field while creating the trigger. Define a custom stop loss inside the advanced settings popup. Note that when you define Fixed price targets from advanced settings, they will be applicable to all trades executed via that trigger, including different coins.

2. DCA Long & DCA Short

Users doing futures trading often want to open both long and short positions via signals. For this, they need to create two triggers: one for long positions and one for short positions. Use the whitelist keyword field to filter relevant signals in the corresponding trigger.

Long Signals: Assume your long signals have the keyword “long” in them. First, configure long signals by creating a trigger with the DCA Long strategy and put “long” in the “Whitelist (Contains All Words)” input under the advanced settings popup.
Short Signals: Similarly, configure another trigger for short signals with the DCA Short strategy and put “short” in the “Whitelist (Contains All Words)” input.

3. Pyramiding Strategy

This is a trading strategy in which position size is increased as the price moves in a favorable direction. For example, in the case of long positions, you buy more coins as the price moves up. It is the opposite of the martingale strategy, where you buy as the price moves against you. In Pyramiding, you buy as the price moves in your favor. To implement this strategy, select “DCA Long” for long and “DCA Short” for short. An important point here is to select GTE in the entry price condition.

Example:

Suppose you want to buy more coins as the price moves up. Click on “Add settings” to open the advanced settings popup. Then, under the entry price section, select GTE, and under value, put 0.001, 2, 5. Click on the percentage button on the right. This will set our effective entry price to +0.001%, +2%, +5%. When the price moves up and these targets are hit, market buy orders will be sent to the exchange to increase the position size. You can define quantity distribution percentages under the input field “Entry target weight.”

Example: 20, 30, 50. This will buy 20% of the quantity per trade at 0.001%, 30% of the quantity per trade at +2%, and 50% of the quantity per trade at +5%.

4. Multiple Signal Providers

If you want to follow signals from multiple signal providers, create that many triggers and put the channel ID corresponding to different providers in different triggers setup.

5. Multiple Strategies from the Same Signal Provider

Use whitelist and blacklist keyword filters and create different triggers to set up multiple strategies from the same signal provider.

Frequently Asked Questions

1. My setup is not working.

Answer: While seeking support, you need to be more precise about the steps you followed and at which stage you are facing the issue. Are you facing issues in creating a trigger, finding the channel ID, connecting the signal bot, executing trades, etc.?

2 I can see the signal in the signal logs page, but coin and other parameters like price targets are not detected or parsed properly.

Answer: Please have a look at our supported signals formats (Link). Try changing formats. Make sure both the quote coin and base coin are present in the signal. Contact support for more help.

3. I can see the signal in the signal logs page, but no trades are created by the signal.

Answer: Cross-check your filters defined while creating triggers such as whitelist/blacklist keywords, position limits, etc. Check your subscription status for how many active trades are allowed in your account.

4. I can see the signal, I can see trades, but my trade is showing some error.

Answer: Trade-related error solutions vary depending on the error. Some common errors are – API key not connected, user trying percentage amount, too small trade quantity, incorrect base/quote coin, etc. Contact support with a screenshot of that order for more help.

5. Everything is working fine for me in demo mode, but it doesn’t work in live mode.

Answer: Cross-check your API key connection by manually placing a trade via the Trade Terminal page.

6. I am having duplicate orders.

Answer: Use the “Limit Positions by Market” filter to 1 under advanced settings.

7. I am having duplicate orders and I have already enabled limits in advanced settings.

Answer: In rare scenarios, if two duplicate signals come at the exact same timestamp up to the precision of milliseconds, our system may fail to apply the position limit. Contact support for more help.

8. It was working earlier but suddenly stopped working.

Answer: Check if you have exhausted your trade limits defined in your subscription plan by clicking on “My Subscription” from the header menu.

9. I was using other platforms. Will the same signal format work with the Growlonix bot?

Answer: We support signal formats of most of the other platforms. If you recently migrated from another platform and your signal format is not working, mail us your desired format at our support email.

Conclusion

By following this guide, you have successfully configured a Telegram signal bot using Growlonix. This powerful tool will help you automate your trading activities, making them more efficient and less time-consuming. Remember to test your setup thoroughly and monitor the trades to ensure everything is functioning as expected. With Growlonix, you can now trade smarter and more effectively, harnessing the power of automation to stay ahead in the competitive world of cryptocurrency trading.

Happy trading, and may success be your trend!