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Advanced Bots give users absolute control over the parameters associated with a technical indicator. New users or traders are strongly advised to understand how a technical indicator works before trying to configure the indicator's parameters.
To access the settings, simply add Advanced Bot (only Premium and Professional users will be able to) and choose the technical indicator.
Click the settings icon in the green box. The parameter window will pop up. An example for Bollinger Band is shown below.
(Entry parameter setting for Bollinger Band)
Please note that this setting applies to the Entry indicator values. If you add Bollinger Band to your exit condition and click on the settings icon, you will see the corresponding Exit indicator values.
(Exit parameter setting for Bollinger Band)
You may also choose a different Period for each Entry and Exit indicator values.
This User Guide will not dwell into the mechanics of each parameter for every technical indicator. This subject requires your own self-study.
If Active Trailing is enabled, it means that the extra order will be triggered if the indicator values continues to fall to the Level configured for Extra Order.
If it is disabled, it means that the indicator value has to rebound above the Base Order indicator Level and falls back to the Level configured for Extra Order, in order for the Extra Order to be executed.
Example A: if Active Trailing is enabled using simple 30 RSI signal for buy, and 25 RSI signal for extra order.
Example B: if Active Trailing is disabled using simple 30 RSI signal for buy, and 25 RSI signal for extra order.
Trading Bots's Advanced Bot offers quite a few conditions for exiting a deal. One of the popular one is through Indicator Exit. Some traders would like to pair an exit indicator with a minimum profit. Hence, Trading Bot offers a Minimum Profit for Indicator Trigger option.
This is useful when the bot enters a deal at a set indicator level (for example RSI = 30 and price of ETH/USDT = 3000) but if the user selects RSI = 70 for exit AND if the market had been free falling after the deal is opened, even though the RSI may rebound to 70, the exit price could still be lower than the entry price. Closing a deal at this stage would result in a loss.
Hence, a trader may require a deal to have at least profit even though the exit indicator condition is met.
For example, if Minimum Profit for Indicator Trigger is NOT enabled:
But, if Minimum Profit for Indictor Trigger IS enabled: