I want to implement Bulk Volume Classification method with Binance in a smaller time frame (e.g. 1 min). For this, I need to have tick data with bid and ask price and volume. I am not sure if I can access this historical data on Binance. Overall, it would be great to hear it from someone who already tested the similar setup. I would have few questions regarding this:
- Can I get histrical data from binance to backtest and run it lively?
- Is it worth to try it in smaller time frames (e.g. 1 min) taking binance fees into account?
- Does this method have chances to succeed with this setup?
Thanks in advance :)
Hi,
You can check the following link for data on Binance: https://www.binance.com/en/landing/data
Of course, it depends on which asset you plan to trade.
Here, the point would be to first retrieve data and backtest the bulk volume classification method. Only when you have backtested the strategy, would you know the performance of the strategy and take a call if you want to move ahead.
Even a simple term like average profit per trade will give you an idea about the feasibility of the strategy. But this is only part of the endeavour. To execute the strategy on smaller time frame, you will have to check access requirement of your broker and make sure the trading system is configured correctly.
Hope this helps.