The Combo Bot uses Bollinger Bands, MACD, and RSI strategies together to act quickly on signals, executing trades even faster and more effectively. The Combo Bot monitors all three signals (Bollinger Bands, MACD, and RSI) and only trades when they all show Buy or Sell signals.
When the bot starts, it will wait for a buy signal to purchase the full investment amount of your desired asset. It will then wait for a sell signal. When it sees the signal, the bot will sell all of the assets.
The configuration parameters for Bollinger Bands and MACD are the same as they are in their individual bots, however the RSI parameters take only two levels, one for buying and one for selling. Use the Optimize Parameters feature to have the bot pre-configure these for you.
You can also configure a Profit & Loss trigger, which allows you to stop trading and cash out your investment at your desired percentage levels.
Step 1: Bot Name
Give your Bot a unique name.
Step 2: Exchange Account
Choose the exchange where you want the bot to trade.
You will see only exchanges that you have linked with our system.
See instructions for connecting to external exchanges.
Step 3: Trading Pair
Determine the pair the bot will trade with; the first coin is the asset to acquire and the second will be the quote currency.
Step 5: Investment Amount
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 there are insufficient funds available in the Quote currency wallet.
Bollinger Bands Settings
Step 1: Moving Average Period
Specify the look-back period (number of bars) for moving average and standard deviation calculation.
Step 2: Moving Average Type
Specify the type of moving average to use.
Step 3: Upper Band Standard Deviation Multiplier
Specify the standard deviation multiplier for the upper band.
Step 4: Lower Band Standard Deviation Multiplier
Specify the standard deviation multiplier for the lower band.
Step 1: MACD Slow Period
Specify the look-back period (number of bars) for slow moving average calculation.
Step 2: MACD Fast Period
Specify the look-back period (number of bars) for fast moving average calculation.
Step 3: MACD Signal Period
Specify the look-back period (number of bars) for signal line calculation.
Step 1: RSI Period
This bot uses the RSI indicator to derive buy signals. Enter the period (number of previous bars) to use for RSI calculations.
Step 2: Buy Level
The bot will buy the amount if the RSI is below this value.
Step 3: Sell Level
Enter the amount of base currency per trade to Sell.
Profit & Loss Settings
Step 1: Take Profit Signal
Enter the profit % you want to gain that tells the bot to sell the accumulated assets.
Step 2: Stop Loss Signal
Enter the loss % that tells the bot to close (sell) the open position and avoid further losses.
Step 1: Choose Candle Chart Interval
Select the chart time frame to run this bot on. Strategy calculations and buy/sell decisions are made at the closing price of each bar. Lower time frames result in more trades than higher, and vice versa.
Step 2: Agree-to Indicator Consensus 2 of 3
Check the box if only 2 of the 3 indicators must be matched to place a buy or sell order. If this box is not checked, then all 3 indicator signals must match.
Click the Optimize Parameters link at the bottom to have the bot determine the best signal parameters based on the pair you want to trade. You can also set some of these parameters manually, and it will optimize only the locked fields.
Running Your Bot
Once you have configured the bot, click Save Bot. If there are any errors, correct them and save the bot again.
When your bot is ready, click Start Bot.
You can monitor your bot's status from the Dashboard. If at any time you want to adjust the bot's configuration, stop the bot first, then click the Edit button.