Honey Framework was launched in March 2018, and offers two open-source libraries, bfx-hf-algo and bfx-hf-algo-server which together provide a complete algorithmic order system tightly integrated into the Bitfinex UI.
These are useful for creating custom, complex order types for the Bitfinex platform.
Installing and using Honey Framework is easy:
- Go to Honey Framework and download the application
- Go to Bitfinex and create your API key to link with your existing account.
Learn about your API keys here. - The Honey Framework application runs on all major operating systems including Windows, macOS and Linux.
In the below video tutorial you can learn how to easily set up and install Honey Framework
The Honey Framework encourages open-source. Developers are able to use our built-in code to customise their experience. In addition, developers are also able to request features, bug fixes and general contributions to the open-source code by contacting us.
The sophisticated algorithms found on Honey Framework enables users to automate trading and execute hundreds of orders at once directly from the Bitfinex UI. Along with this, users are also able to build bots for better trading if they are interested.
The Honey Framework UI enables users to customize market data layout for maximum efficiency by selecting from a wide range of custom widgets including Order books, Trade tables, Charts and more.
Users can use the Honey Framework strategy libraries to write, backtest, and execute their ideas on both the live markets and historical data. The library which comes with 45+ indicators is available for both Python and JavaScript.
While the Honey Framework enables users to customise their experiences, it also comes with the below orders which are built-in algorithmic orders.
Honey Framework: Algorithmic Orders
TWAP
TWAP or Time-Weighted-Average-Price spreads an order out through time in order to fill at the TWAP, calculated between the time the order is submitted to the final atomic order close.
price can be specified as a fixed external target, such as the top bid/ask or last trade price, or as an explicit target which must be matched against the top bid/ask/last trade/etc.
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 types is to minimise market disruption
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.
The price must be manually specified as `limitPrice` for `LIMIT` order types, or as a combination of a price offset & cap for `RELATIVE` order types. `MARKET` A/D orders execute using `MARKET` atomic orders, and offer no price control.
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.
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.
For further information on the Honey Framework and document on setting up, https://docs.bitfinex.com/v2/reference#honey-framework
If you would like to test Honey Framework trading strategies in a simulated environment without putting real funds at risk, you can easily create a Paper Trading account.
If you have any questions, get in touch with our support team.
