What is Bitfinex Honey
Bitfinex Honey is an open-source toolkit for traders to develop and implement custom order types on the Bitfinex platform. With Honey, you will be able to run algorithmic trading strategies directly from your browser.
Honey is hosted on the Bitfinex server and integrated seamlessly into the existing familiar Bitfinex interface that can be accessed via the Honey home page after logging into the Bitfinex website or through this link when logged in. It provides you with the ability to design custom order form layouts, trigger notifications, and render status information directly in the orders table.
How to set up Honey
Simply log in to your Bitfinex account and go to the Honey page.
Execute algo orders directly from your browser. No installation is required!
What is Bitfinex Honey Framework
Bitfinex Honey Framework refers to the downloadable application that can be found here. It contains the full suite of Honey Framework libraries and tools in an easily installable application.
Honey Framework was launched in March 2018, and now it offers two open-source libraries:
How to set up Bitfinex Honey Framework
For professional traders, you can download the latest version of the self-hosted Honey Framework application here.
For further information on Honey Framework and a setting up document, please view https://docs.bitfinex.com/v2/reference#honey-framework.
What are the Algorithmic Orders
The sophisticated algorithms found on Honey and Honey Framework enable users to automate trading and execute hundreds of orders directly from the Bitfinex UI.
You can also use the strategy libraries to write, backtest, and execute your ideas on live markets and historical data. The library, which comes with 45+ indicators, is available for Python and JavaScript.
Algorithmic Orders
While Honey and Honey Framework enables users to customise their experiences, it also comes with several built-in algorithmic orders, with more to come.
TWAP
TWAP (Time-Weighted-Average-Price) spreads an order out through time to fill at the TWAP, calculated between the time the order is submitted to the final atomic order close.
The price can be specified as a fixed external target, such as the top bid/ask or last trade price, or as an explicit target that must be matched against the top bid/ask/last trade/etc.
Note: Available on both website and desktop versions.
Iceberg
Iceberg allows you to place a large order on the market while ensuring only a small part of it is ever filled at once. By enabling the Excess As Hidden option, it is possible to offer up the remainder as a hidden order, allowing for minimal market disruption when executing large trades. The most common use of this order type is to minimise market disruption.
Note: Available on both website and desktop versions.
Accumulate/Distribute
Accumulate/Distribute allows users to split a large order into smaller randomised portions, submitted at regular and/or irregular intervals.
By enabling the Await Fill or Catch Up options, the algorithm will either ensure each component fills before submitting subsequent orders or will ignore the slice interval for the next order, thereby ensuring the time-to-fill for the entire order is not adversely affected.
- For the Limit order type: the price must be manually specified as limitPrice;
- For the Relative order type: the price must be a combination of a price offset;
- For the Market order type: orders execute using market atomic orders and offer no price control.
Note: Available on the desktop version.
Ping/Pong
Ping/pong submits multiple ping orders; once a ping order fills, an associated pong order is submitted.
Multiple ping/pong pairs can be created by specifying an order count greater than 1, a suitable min/max ping price, and a pong distance. Multiple ping orders will be created between the specified min/max prices, with the associated pongs offset by the pong distance from the ping price. When operating in Endless mode, new ping orders will be submitted when their associated pongs fill.
Note: Available on the desktop version.
MA Crossover
The MA Crossover is a special algorithmic order type triggered by an indicator condition. Specifically, the moment two configurable moving averages cross each other. Either exponential MA or the normal MA can be used, with individually configurable timeframes and periods for both, to trigger the execution of a MARKET or LIMIT order.
Note: Available on the desktop version.
Order creates OCO
The Order creates OCO option allows you to place a regular LIMIT/MARKET order and then schedule an OCO order to be created after the initial order has been executed.
The OCO order places a pair of orders stipulating that if one order is executed fully or partially, the other is automatically cancelled. An OCO order combines a stop order with a limit order. This option allows you to place both take-profit and stop-loss targets for your position (only for limit orders).
Note: If you manually cancel one of the OCO orders, i.e. the stop or the limit, the Honey Framework automatically cancels the other one as well, thereby stopping the Order creates OCO algo order execution.
Paper Trading using Honey and Honey Framework
If you would like to test Honey and Honey Framework trading strategies in a simulated environment without putting real funds at risk, you can easily use a Paper Trading account.
- For Honey, you will need to create a Paper Trading account and log in to that Paper Trading account through the Bitfinex website.
- For Honey Framework, you will need to enable Paper Trading when logging in to the application.
Contribute to the Honey Framework code
At Bitfinex, we love open source and encourage it as much as possible! Developers can use our built-in code to customise their experience. In addition, developers can also request features, bug fixes and general contributions to the open-source code by contacting us at Bitfinex Support or through GitHub.
If you have any questions, please contact our Bitfinex Support team. We will be happy to help!
