A Coinbase Trading Bot For You!

Here’s the breakdown of building the trading bot using UiPath for the RSI strategy, followed by a guide to create the complete UiPath project.

Strategy: RSI-Based Trading Bot

1. Strategy Rules:

   • Buy Signal: RSI < 30 (oversold condition).

   • Sell Signal: RSI > 70 (overbought condition).

   • Stop-Loss: Sell if the price drops by 5% from the buy price.

   • Take-Profit: Sell if the price increases by 10% from the buy price.

2. Key Steps:

   • Fetch the historical market data (price data for a given cryptocurrency).

   • Calculate the RSI for the specified period (e.g., 14 periods).

   • Check RSI thresholds for trade signals.

   • Place trades using the Coinbase API.
     

Building the UiPath Workflow

1. Set Up the Project

• Initialize Variables:

  • API_Key, API_Secret, API_Passphrase: Secure credentials for Coinbase API.

  • BaseURL: Base endpoint of the Coinbase API.

  • RSI_Period: Number of periods to calculate RSI (default: 14).

  • DataTable: To store historical price data.

  • Holding: Boolean to track if a position is held.

  • BuyPrice: Store the price at which a buy occurred.
    

2. Fetch Market Data

• HTTP Request Activity:

  • Endpoint: https://api.exchange.coinbase.com/products/{product_id}/candles

  • Method: GET

  • Headers: Add authentication headers (API_Key, API_Secret, etc.).

  • Parse the response JSON into a DataTable to analyze historical price data.
    

3. Calculate RSI

• Use the formula: RSI=100−1001+RSRSI = 100 - \frac{100}{1 + RS}RSI=100−1+RS100​

  • RS (Relative Strength): RS=Average Gain over N periodsAverage Loss over N periodsRS = \frac{\text{Average Gain over N periods}}{\text{Average Loss over N periods}}RS=Average Loss over N periodsAverage Gain over N periods​

  • Implement this calculation in UiPath using Assign and For Each Row activities to loop through the DataTable.
    

4. Trading Logic

• Decision Conditions:

  • Check RSI values:

    • If RSI < 30 and Holding == False, place a buy order.

    • If RSI > 70 or stop-loss/take-profit conditions are met, place a sell order.

• Use If activities for decision-making.

• Use HTTP Request activities for buy/sell orders through the Coinbase API.
  

5. Logging and Monitoring

• Use the Log Message activity to record:

  • Market data retrieval.

  • RSI values.

  • Trade actions (buy/sell).

• Save logs for audit purposes.
  

Complete UiPath Project

This project will include the following workflows:

• Main.xaml: The central workflow orchestrating all activities.

• FetchMarketData.xaml: Workflow to fetch and process market data.

• CalculateRSI.xaml: Workflow to calculate the RSI.

• TradeExecution.xaml: Workflow to handle buy/sell orders based on signals.

• ErrorHandling.xaml: Workflow for managing errors and logging.
  

Check out the other blog posts on this topic at diyrpa.com/blog