Trend Lines Bot
The Trend Lines Bot takes advantage of a skill that every trader has, drawing trendlines. By ignoring the complexities of indicators, safeties and insurances the Trend Line Bot allow day and swing traders to setup a bot that acts on trend lines drawn on a chart. The Trend Lines Bot is available with all licenses.
This page will use the BTC/USD market in every example
- This bot will only trade on the trend lines between the most left and most right points of the lines.
- Lines must extend into the future for the bot be active.
- Sets of trend lines cannot cross each other. They can be on the same timezone but cannot cross lines.
- Not able to backtest.
- Maintenance is required.
The Trend Lines Bot works with sets of lines. A set contains 2 drawable lines and an optional stop-loss. Only one buy line and one sell line can be drawn on the chart per set. A bot can have an unlimited amount of sets. The bot will monitor the price, and on every update look for a set of lines to activate. A set will be active 1) when the current time is between the left and right timestamp of the set. 2) the current price is between the lines. After the set is activated, and the price drops below the buy lines, the bot will create a buy (if the current position is sold). Conversely, the bot will create a sell order if the price breaks the sell line. On both actions, the set will deactivate until the price is back in range.
The performance of this bot completely depends on the skills of the user.
Coin Position - This is the start position of the bot. If your assets currently are BTC, then select BTC. If it is in USD, select USD. The value has no relation to the trade amount currency.
Trade Amount - The allocated amount the bot is allowed to use.
Template - Some exchanges offer <0% for native order templates. The Trend Lines Bot gives you the ability to take advantage of this option.
Stop-Loss Template - A Stop-Loss enables users to get out of the position fast. The Trend Lines Bot has the ability to execute a special template just for that.
Fee - Some exchanges offer a different fee for using native templates. This will adjust the profit calculation.
Sometimes the price will just briefly break a trend line and the placed order will not be filled. With Chase Order enabled the bot will try to place the order again, a number of times, at the current price.
Chase times - The number of times the bot will try to place the order after it is canceled by the template.
Creating Trend Lines
To start creating trend lines, we need to switch to the full screen view. Clicking on the channel icon will open the Trend Lines Set Manager. The button Add Set will add a new set to the bot.
Trend Line Set Manager
A warning sign is shown when a set is invalid. For a set to be invalid, one of the following things is possible.
- The set can be missing a buy or sell line.
- The buy line can be drawn above the sell line.
- The lines cross.
The draw button will prepare the chart for drawing the buy and sell lines. After the lines are drawn, the chart will switch back to crosshairs. Note that the lines can still be moved.
This will remove the line from the set.
An easy feature to switch the buy and sell lines when mistakenly drawn reversed.
When enabled, this feature will show a yellow square around the set. This also represents the time frame the set is active.
The Stop-Loss will be placed a predetermine percentage away from the buy line. It will show as a purple line on the chart. When breached the bot will create a sell order with the Stop-Loss Template.