This strategy aims to buy an asset when it dips below defined RSI levels, dollar cost averaging by buying more if the price drops further. It sells when the profit target or stop loss level is reached.
- Exchange: The exchange to run this bot on. A bot can be backtested on one exchange and run live on another.
- Market: The pair (symbol) to trade. Quadency's standard convention is Base/Quote.
- Starting Capital: The maximum amount of Quote currency available to the bot for trading. When backtesting, this value can be any amount. However in live trading mode, the bot will stop trading if funds available in the Quote currency wallet become insufficient.
- Price is below RSI level 1 - Buy level 1 amount OR
- Price is below RSI level 2 - Buy level 2 amount OR
- Price is below RSI level 3 - Buy level 3 amount
- Profit target is reached OR
- Stop-loss level is reached
- Profit Target: The target percentage gain at which the bot will sell all positions. It will continue monitoring signals to enter new positions. The value must be entered in decimal form. For example, enter 0.10 for 10%. If you don't want the bot to close positions, simply enter a high value such as 10 (1000%).
- Stop Loss: The percentage loss at which the bot will sell all positions. The bot will continue monitoring signals to enter new positions. Stop-loss value must be positive and entered in decimal form. For example, enter 0.10 for 10%. If you don't want to use a stop-loss, simply enter a high value such as 1 for 100%.
- Max Positions: Maximum total amount of base currency to hold at any given time. The bot will stop buying if it has accumulated the defined amount until the sell condition is met.
- Max Trades Per Day: The maximum number of trades the bot is allowed to place on any single day. The bot will stop buying for the day if it has reached the daily trading limit defined. This applies regardless of the candle timeframe selected.