A list of the top open-source trading bots on GitHub has been curated by us in this article, where we will be talking about their features. These bots can be downloaded on your computers and while setting them up takes little command-line familiarity, they’re highly customizable once setup is complete.
Table of Contents
Summary (TL;DR)
- Octobot is written in Python, is highly customizable, and is designed for long-term and short-term trading strategies.
- Freqtrade is a free Python crypto bot with ML strategy optimization & tools.
- Binance trading bot is an automated trading software that uses pre-programmed algorithms to analyze market data and execute trades.
- Jesse is designed to be used by experienced traders, requiring some technical knowledge of programming languages such as Python.
- Hummingbot is a free, open-source crypto trading bot that helps users automate their trading strategies on major crypto exchanges, such as Binance and Coinbase Pro.
What are Crypto Trading bots?
Crypto trading bots are designed to assist you in automating your trading strategy. With the help of these crypto trading bots, you can even make money while sleeping or working on your other day-to-day chores.
These crypto trading bots work irrespective of time on the clock since and given the crypto market runs 24×7, they allow you to trade throughout the day.
With the help of these free and open-source trading bots on GitHub listed in this article, you can build your own trading bots by programming your strategy.
Octobot: 1st Open-Source Trading Bots on GitHub
Octobot is an automated trading system that uses a combination of machine learning and artificial intelligence (AI) to make trading decisions. It analyzes the market in real-time and makes decisions based on pre-defined algorithms. It is designed to be used by Both professional and retail merchants.
The system consults various data sources, including news, market sentiment, and technical indicators, to make judgments.
Octobot was developed by a team of professional traders and software engineers and is intended to capitalize on both short-term and long-term market possibilities.
The technique is meant to reduce risk while increasing returns for the trader. It is intended for usage on old and modern exchanges and is compatible with any trading platform.
Features of Octobot:
- Automated Trading: Octobot can detect market conditions and execute trades with automated trading without any manual intervention.
- Backtesting: Octobot allows users to backtest their trading strategies to see how they would have performed in different market conditions.
- Portfolio Management: Octobot helps users in portfolio management by giving them tools to track their investments and make better decisions.
- Easy Setup: Octobot is designed to be easily set up and configured and supports various exchanges and can be integrated with multiple wallets.
- Real-time Data: Octobot provides users with real-time market data and analytics to help them make more informed decisions.
- Risk Management: Octobot offers users tools to manage risk, such as stop-losses and take-profits.
- Security: Octobot is secured by encryption, and users can protect their accounts with two-factor authentication.
Freqtrade: 2nd Open-Source Trading Bots on GitHub
Freqtrade – a Python-based, free, and open-source crypto trading bot that offers a range of powerful features. With Freqtrade, you can easily trade across all major exchanges and manage your bot via Telegram or webUI.
Additionally, the platform includes an array of tools such as backtesting, plotting, and money management, as well as strategy optimization using machine learning techniques.
Features of Freqtrade
- Create a trading strategy using Python and pandas. Examples are available in the strategy repository.
- Download historical data for the exchange and markets you want to trade with.
- Test your strategy on this data and optimize it using hyper optimization and machine learning.
- Choose the markets you want to trade in and run your strategy with simulated or real money using Dry-Run or Live-Trade mode.
- You can also use the optional Edge module to find the best trade expectancy by market and control and monitor your trades using Telegram or a WebUI.
Binance Trading Bot: 3rd Open-Source Trading Bots on GitHub
A Binance trading bot is a computer program that uses the Binance API to execute trades automatically on the Binance cryptocurrency exchange.
The bot interacts with the Binance API to analyze market data, detect trading opportunities, and execute trades. Depending on the user’s preferences, the bot can analyze the market and execute trades based on specific criteria such as price, volume, and time.
The bot also can detect and respond to changes in the market, allowing it to adjust its trading strategy accordingly. Additionally, the bot can be programmed to set stop losses and take profits, making it a powerful tool for managing risk.
Features of Binance Trading Bot:
- Executes trades based on your set of trading strategies and market conditions.
- Automatically monitors and tracks multiple crypto exchanges and sets up buy and sell orders.
- Detects trends and makes decisions based on them.
- Automatically analyzes and manages your portfolio.
- Automatically apply risk management to your trading strategies.
- Can track the performance of your trading strategies and make adjustments when needed.
- Alerts you when certain events occur in the market.
- Automatically monitors and tracks your trading performance.
Jesse: 4th Open-Source Trading Bots on GitHub
Jesse is a crypto trading bot designed to help traders make more intelligent decisions with their crypto investments. It uses advanced algorithms and machine learning to analyze market data and identify profitable trading opportunities.
Jesse offers manual and automated trading modes that are intuitive and easy to use. In addition, it offers many features and tools, such as portfolio management, risk management, backtesting, and real-time analytics.
Jesse also provides an educational resource center to help traders learn and understand the markets.
Features of Jesse:
- Automated Trading: Jesse operates with the help of automated trading strategies, allowing traders to place orders with the click of a button.
- Backtesting: Jesse allows traders to backtest their strategies by simulating past market conditions and trading conditions.
- Portfolio Management: Jesse offers portfolio management tools, allowing traders to monitor and manage their investments across different exchanges.
- Risk Management: Jesse provides risk management tools, allowing traders to set stop losses and take profits to manage risk exposure.
- Advanced Analytics: Jesse offers advanced analytics, allowing traders to analyze their trading performance and develop better strategies.
- Reporting: Jesse provides reporting tools that allow traders to track their trading performance and identify trends.
- Customizable User Interface: Jesse offers a customizable user interface, allowing traders to customize the look and feel of the platform.
Hummingbot: 5th Open-Source Trading Bots on GitHub
Hummingbot is a free, open-source software client that helps you build and run high-frequency market-making bots on any crypto exchange.
It enables users to access liquidity trading opportunities, automate order execution and create custom trading strategies. Hummingbot is designed to make trading more efficient and cost-effective.
The software runs locally on your computer, connecting to the exchange of your choice via their application programming interface (API). Hummingbot’s built-in strategies allow users to create their custom market-making bot without the required coding or scripting knowledge.
With Hummingbot, users can quickly and easily create a trading bot that monitors the markets and takes advantage of arbitrage opportunities in real-time.
Additionally, the software supports advanced features such as liquidity provision, order book analysis, and market intelligence. Hummingbot is available for Windows, Mac, and Linux, and it is free to use.
Features of Humming Bot:
- Automated Trading: Hummingbot is an open-source automated trading bot that allows users to create, customize, and execute their automated trading strategies.
- Automated Market Making: The bot allows users to create automated market-making strategies and provides liquidity in different exchanges.
- Accessible for Everyone: It is designed to be accessible to everyone and provides tutorials and documentation to help users quickly get up to speed.
- Flexible Strategies: Hummingbot provides powerful tools to create custom, automated trading strategies without needing to write code.
- Open Source: Hummingbot is open-source and available on Github, allowing users to customize, contribute, and improve the software.
Pros and Cons of Open-Source Trading Bots on GitHub
Pros:
- Open-source trading bots are often free, so you can familiarize yourself with the code and develop the bots without investing in expensive software.
- Open-source bots can be modified and customized according to user needs. In addition, Open-source bots are often supported by a community of developers, which can help you with troubleshooting and feature requests.
- Open-source bots provide transparency and can be audited for security and reliability.
Cons:
- Open-source bots may have poor support and reliability than proprietary bots.
- In addition, Open-source bots may lack certain features or require additional coding to enable certain features.
- Open-source bots may not be as efficient as proprietary bots due to a lack of optimization and testing.
Open-Source Trading Bots on GitHub: Conclusion
This article concludes that the list of open-source crypto trading bots on GitHub is vast and varied. From simple bots that execute basic trades to complex bots that use sophisticated algorithms to make decisions, there is something for everyone.
With the proper knowledge and resources, anyone can create a trading bot and take advantage of the cryptocurrency markets.
Frequently Asked Questions:
What is GitHub?
A web-based interface called GitHub uses Git, an open-source version control system that enables many users to simultaneously make independent changes to web pages.
GitHub allows numerous developers to collaborate on a single project simultaneously, decreasing the chance of duplicative or conflicting work and can assist in shortening production time. Non-developers may also use it to create, edit, and update website content.
What is an open-source trading bot?
Open-source trading bots are automated trading programs that use pre-programmed algorithms to analyze market data and make trading decisions.
They remove the psychological element of trading, which can harm a trader’s performance. Open-source trading bots are free and can be used by anyone with basic knowledge. They can trade various assets, including stocks, options, futures, and currencies.
What are the benefits of using a crypto trading bot?
The benefits of using a crypto trading bot include the following:
– Reduced trading time: A crypto trading bot can execute your trades quickly and with minimal effort.
– Increased trading accuracy: A crypto trading bot will help you to make more accurate trades, as it will take care of all the technical details involved in trading cryptocurrencies.
– Reduced risk: A crypto trading bot will help you to reduce your risk by automating your trading process.
– Increased profits: A crypto trading bot can help you to increase your profits by automating your trading process.
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