N8N
Last updated
Last updated
n8n is a workflow automation tool that allows users to create automated workflows connecting different apps, APIs, and services without needing extensive coding knowledge. It is an open-source, self-hostable alternative to Zapier, Make, and other automation tools.
With n8n, traders can create workflows that:
Fetch data from APIs
Process and transform data
Automate trading tasks
Integrate with trading platforms, brokers, databases, and messaging services
This section guides you through creating a workflow in n8n, a powerful open-source workflow automation tool, to automatically place orders in OpenAlgo at a scheduled time. We'll use the example of placing a short straddle on NIFTY options at 9:20 AM IST every day.
Prerequisites:
OpenAlgo: You must have OpenAlgo installed and running in http://127.0.0.1:5000/. Ensure your broker is properly configured within OpenAlgo.
Install NodeJS as n8n backend relies on Node.js runtime to execute workflows, handle API calls, and manage automation.
n8n: n8n should be installed and running.
Broker API Key: You'll need your broker's API key and API Secret that you have configured in OpenAlgo.
Basic Understanding of Cron Expressions: Cron expressions are used to define schedules. We'll provide the specific expression you need, but it's helpful to have a basic understanding.
To start n8n on Windows, follow these steps:
Since n8n runs on Node.js, you need to install it first.
Download Node.js from Node.js official website
Install the LTS (Long-Term Support) version (recommended for stability).
Verify installation by opening Command Prompt (CMD) and running:
If installed correctly, you will see the version numbers.
After Node.js is installed, you can install n8n using npm:
Open Command Prompt (CMD) as Administrator.
Run the following command:
This will install n8n globally on your system.
Check if n8n is installed:
If installed correctly, you will see the version number.
Once installed, start n8n with:
This will start the n8n server. You should see logs like:
Open your browser and go to: 👉 http://localhost:5678/
Now you can start creating workflows.
Workflow Setup:
1. Create a New Workflow in n8n
Open your n8n instance in your browser (typically http://localhost:5678).
Click the "+" button or "Create Workflow" option to start a new, blank workflow.
2. Add and Configure the Schedule Trigger
This node will be the starting point of our workflow, initiating the order placement at the specified time.
Click the "+" button to add the first node.
Search for "Schedule Trigger" and select it.
Select the "Custom(Cron)" as trigger interval from the options.
In the Expression field, enter the following Cron expression: 0 20 9 * * *
Explanation of the Cron Expression:
0: Seconds (set to 0)
20: Minute (set to 20 for 9:20 AM)
9: Hour (set to 9 for 9:00 AM in 24-hour format)
*: Day of the Month (any day)
*: Month (any month)
*: Day of the Week (any day of the week)
Important: Timezone: By default, n8n uses UTC time. To ensure the trigger fires at 9:20 AM Indian Standard Time (IST), you must set the timezone.
Click on Settings
Click on n8n settings
Under general settings.
Select Timezone : "Asia/Kolkata"
3. Add the First HTTP Request Node (SELL NIFTY Call Option)
Click the "+" button to the right of the "Schedule Trigger" node to add a new node.
Search for "HTTP Request" and select it.
Configure the node as follows:
Method: POST
URL: http://127.0.0.1:5000/api/v1/placeorder (This assumes OpenAlgo is running on your local machine. Adjust if you're using a different URL.)
Authentication: None (assuming your OpenAlgo instance doesn't require authentication for local requests. If you have authentication enabled, configure it accordingly.)
Send Body: Check this box.
Body Content Type: JSON
Specify Body: Choose Using JSON
JSON: Paste the following, replacing "YOUR_OPENALGO_API_KEY" with your actual API key:
Important Notes:
YOUR_OPENALGO_API_KEY: Replace this with your OpenAlgo API key.
strategy: You can name your strategy anything you like (e.g., "MyStraddleStrategy"). This helps you identify the source of the order within OpenAlgo.
symbol: Ensure this is the correct symbol for the NIFTY call option with the desired expiry and strike price. Double-check this!
exchange: Use "NFO" for NSE options.
action: "SELL" for the short straddle.
pricetype: "MARKET" for a market order.
product: "MIS" for intraday trading.
quantity: Set to "50" (or your desired quantity, likely a multiple of the lot size).
4. Add the Second HTTP Request Node (SELL NIFTY Put Option)
Click the "+" button again to add another HTTP Request node. We need a separate request for the put option. Connect the same cron node created to the second HTTP request also.
5. Save and Activate
Click "Save" in the top right corner to save your workflow.
Click the "Active" toggle switch in the top-right corner. It should turn green, indicating that the workflow is now active.
6. Test (Optional, but Highly Recommended!)
Important: Before testing with the schedule, use the "Test workflow" button (on schedule trigger node). This will execute the workflow immediately, bypassing the schedule. Use this only in analyzer mode! It's crucial to verify that your API calls and order parameters are correct before letting it run automatically.
7. Monitor Execution
Once the workflow is active, it will run automatically at 9:20 AM IST every day.
You can monitor the executions by clicking on the "Executions" tab in n8n. This will show you a history of when the workflow ran and whether it was successful.
You should also see the orders appearing in your OpenAlgo order book.
Troubleshooting
Workflow not triggering:
Is it active? Double-check that the "Active" toggle is switched on.
Cron expression: Verify that your Cron expression is correct. You can use online Cron expression generators to test your expression.
Timezone: Make absolutely sure the timezone in n8n's settings is set to "Asia/Kolkata" (or your correct local timezone).
n8n errors: Check the n8n logs (accessible through the settings or the command line if you're running it locally) for any error messages.
Orders not placing in OpenAlgo:
API Key: Double-check your API key in the HTTP Request nodes.
URL: Make sure the URL is the correct OpenAlgo endpoint.
JSON Format: Ensure your JSON body is correctly formatted. Any missing commas, brackets, or incorrect field names will cause errors.
OpenAlgo Logs: Check the OpenAlgo logs for any error messages.
No-code / Low-code Automation: Simplifies complex trading workflows.
Open-source & Self-hosted: No expensive SaaS fees.
Customizable & Scalable: Adapt workflows based on trading needs.
Supports Webhooks & APIs: Seamless integration with OpenAlgo.
