Bitfinex Has Added New Tools for Automated Trading on the Honey Framework

Bitfinex Bitcoin Exchange introduced a new set of open source libraries for testing and implementing trading strategies.

The bfx-hf-strategy, bfx-hf-backtest and bfx-hf-data-server libraries will complement the toolkit for high-frequency trading of the Honey Framework presented last week. These libraries enable users to create trading strategies that respond to market changes, as well as use the bfx-hf-indicators in them.

The developers emphasize that so far, this is only the alpha version, respectively, the contents of the libraries can be significantly changed over time. On the other hand, the company is confident that the tools are already stable enough to present them to technically savvy users.

Strategies can be tested on historical data, and also put into operation in real conditions through the API provided by the exchange. Along with the tools presented earlier, these libraries are part of the complete set of automated tools for trading with Honey Framework.

A website with documentation for each of the libraries will be launched In the coming months. In addition, the developers have promised to supplement the Honey Framework with new functions and tools for high-frequency trading.

In addition, Bitfinex reported on the new version of the bfx-hf-algo library, in which appeared a new type of order for algorithmic trading. It is called Ping/Pong order type.

The tactics of this order type are as follows:

“This order type allows you to consistently buy & sell a specific amount over a varying range, working with the price as it oscillates. Potential use cases are market making and gradually accumulating a currency while following the price action.”

They also accept new trading types ideas, general comments and suggestions etc on Github.

The users and the community is welcoming this kind of software from Bitfinex. They mostly appreciate that the software is open source. Many are already interested to use this on Linux and are requesting for an official guide to setting up on that platform.

Ping/Pong order type has some very interesting tactics that can do its own fabulous work, but also it triggered some anti-crypto comments by the community.