Customize Advanced Bitsgap COMBO Bot Settings
The Bitsgap COMBO Bot provides multiple customization options to personalize your trading strategy. In this article, we will explore the manual adjustment settings. These settings include configuring high and low prices, adjusting grid step and grid levels, and managing risk with Stop Loss and Take Profit.
When setting up a new COMBO Bot, the Manual adjustment section allows you to customize your bot’s settings. To access them, click on the [Manual adjustment] button.
Step 1: Set up High and Low prices
By default, the system sets lower and upper limits of the trading range at 10% from the current price. However, you can manually adjust the range according to your trading strategy by entering values in the "Low Price" and "High Price" fields or moving the chart's levels.
For Long COMBO Bot: all orders above the current price are Grid orders (take the profit and reduce the position), and the ones below are DCA orders (average the entry price and increase the position).
For Short COMBO Bot: orders above the current price are DCA orders (average the entry price and increase the position), and the lines below are Grid orders (take the profit and reduce the position).
Step 2: Adjust the step and number of levels
The "DCA + Grid levels" parameter reflects the overall number of open orders your bot will create, while the "DCA and Grid step" represents the price distance between those levels.
Both fields are interconnected, i.e., a change in one parameter will lead to a change in the second (since the DCA and grid step % directly determine the distance between bot orders).
Under the DCA and grid step and DCA + grid levels fields, you will see more detailed information about your COMBO Bot.
Max. position - maximum position volume;
Max. margin - maximum margin size;
1st order - the volume of the first order, which opens your position;
DCA orders (N)* - the total volume of DCA orders;
Grid orders (N)* - the total volume of grid orders.
*N - number of orders.
Step 3: Take Profit and Stop Loss
At this step, you determine under what condition and at what price the bot should lock in the profit or close your position at a loss.
If the price reaches the Take Profit or Stop Loss level, the system implements the following actions:
- Cancels bot orders;
- Places a market sell or buy order to close the position at the current price;
- Transfers the bot to the “Bot history” tab.
Stop Loss is not fixed, it will follow the price in a favorable direction. The Trailing mode cannot be disabled for Stop Loss.
Step 4: Backtest
Backtest allows you to evaluate the bot performance based on historical data of a trading pair for a selected period. This feature may help you understand your bot's settings and optimize them for the selected trading pair.
To backtest your bot settings, click on the [Backtest] button. In the pop-up window, you will see the calculated results of the bot's work (bot profit) with the current settings for the past 30 days (by default), like in the example below.
Now your COMBO Bot is set and ready to be launched! 👍
Overall, the Manual Adjustment section in the COMBO Bot provides a range of options to customize your bot's settings and personalize your trading strategy. Remember to test different settings and find the best balance between speed and profit for your strategy.
Get stuck? Ask your question to our community on Telegram!