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Conditions and Triggers
The first step in creating your Coinrule trading bot is to decide when the algorithm has to execute an action. You need to define a condition or a trigger, then. You can choose between different options:
- Simply asking Coinrule to send recurring orders on the market at a specific interval of time. The order will hit the market according to your selected time interval.
- Request to check for a particular condition and ONLY IF that condition is met, send an order as defined in the following section below. Add an additional condition, if needed, selecting the option “Add Condition”.
- A Direct order that will be executed on the market right after clicking on the Launch button. The trading interface of some exchanges could be complex, so Coinrule makes it easy to send an order in just a few clicks.
Which coins to Trade?
First, you can choose the group of coins or a specific coin that meet your condition. The options are:
- all available coins on the market
- all coins in our portfolio
- one or more specific coins
Select the indicator
Then, it’s time to set up the actual condition you want to occur to trigger the order. You can choose between:
- Price, that can be used both in absolute terms (selecting a specific price level) or in terms of percentage moves. Read more about how to optimise the timeframe of your price triggers here.
- Volume, that is the aggregate traded volume of that coin over the previous 24hr. Coinrule uses a third-party provider, which is Coingecko.
- Market Cap, this makes sense especially if you want to segment your trades on coins above or below a certain Capitalisation. Strategies based on low-cap or high-cap coins or tokens are very easy to setup with Coinrule.
- Relative-strength index (RSI)
- Moving Averages
You are now ready to define the next step of your Coinrule trading bot!
Created: March 1, 2023
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