Now let’s get to the fun part, creating your first strategy!
As already mentioned in the basics for the trading logic: Here you set what nuxBot should do for you.
First your nuxBot needs purchase criteria (xEMA):
You can tell nuxBot to only buy if the price is e.g. below 16 EMA.
But there are of course other comfirming indicators that can be used to change the buying criteria such as RSI, ADX and Stoch.
For example, you can activate RSI in the “Indicators & ATR Trailing” tab and for even more flexibility you can enter your own RSI buy level and length. By RSI level is meant if RSI goes below e.g. 30 RSI then buy and length means how many candles are used to calculate this indicator. Of course you still have to wait for the other indicators if you have activated others.
DCA (dollar cost averaging):
DCA (dollar cost averaging) is used to make additional purchases when the price falls. This allows you to reach a lower average price per unit when prices moves down, making for a lower possible profitable sell price.
ATR-T (ATR-Trailing) is used to get better entry and exit points.
When buying, it makes it possible to aim for a lower entry price than strategy criteria would otherwise realize. When selling, it allows for higher profits, while locking in profits while trailing areas move up along with the price.
And finally the sell criteria (Sell when Trade/Price is above) and stop loss :
You can tell nuxBot to sell e.g. 1% in profit. (% Profit Target)
It is also again possible to use other indicators such as ADX, Stoch and RSI to change the sell criteria.
Stop loss (SL):
Even if you want to avoid such trades, it is always possible that the market will go completely against you. To get out of such a losing trade with losses, there is SL (stop loss).
SL activates ONLY if the complete trade is -x% in loss. As a result, everything is sold at a loss. If you don’t want to take losses, you should deactivate Stop loss (SL). Do NOT write a minus (-) in there, just the number. You could use DCA to lower the average price per unit if you don’t want a stop loss.