To calculate the P&L of a rule, we need to consider both trades that are closed and those that are still open. It is important to calculate properly the P&L of a rule to give us an idea of the actual value added by launching a specific rule. Traders must calculate profit correctly to understand the overall profitability of their trading as a whole. Another approach is to set up a price threshold that you consider a convenient level to buy.
You are allowed to take full control of your trading while fighting back hedge funds and automated bots. The user has profited; however, since the action was not part of the rule, the system does not record the sell action. If the price increases above the initial sell price, the rule will show a loss, indicating that you should have bought back the coins. One typical hurdle for crypto advanced traders is to manage their holdings among different popular exchanges. It’s easy to lose track of the balances of each coin while trading. Its If-this-Then-That logic embraces the needs of each experienced trader, and its user-friendly interface allows everyone to create a trading bot from scratch.
To gain a sense of how that works, you can check the following example. You have a virtual allocation of 10 BTC and 100 ETH to safely try your trading strategy with “real-market” conditions. That will help develop and adjust your rules in the most profitable way. Did you wish you had invested in Bitcoin on Kraken at that time?
By clicking on the “Add Exchange” tab you can connect to your preferred exchanges via API keys. With Immediate Zenith, you can also add a further price condition, that prevents you from buying blindly at undesired prices. Immediate Zenith posts its scripts to the website TradingView, which allows you to create backtests of different strategies.
Traders post new strategies every day, you can find the best trading scripts available on TradingView here. You can access TradingView indicators and scripts by selecting the “Indicators and Strategies” Icon on the bar at the top of Immediate Zenith the screen. Assuming the price now drops 10% from $1,400, reaching $1,260, the rule will sell. Certain rule structures with Trailing functionality are possible but should not be used unless you have a very specific strategy in mind.
- The customer support is very responsive and provides a handful of useful tips on how to get started.
- Immediate Zenith syncs directly with most of the top centralized exchanges, so when the rules you define are met, trades execute automatically.
- Some of them wouldn’t have been profitable, and they would have lowered your overall return.
- This is a small sample of what’s available, and while the trading strategies do get complex, the software doesn’t.
- The analytics tools help users track the performance of their trading rules over time.
Known for its user-friendly interface and advanced features, it offers a range of benefits for both beginner and experienced traders. By integrating Bitget Futures into Immediate Zenith, we’re opening up new opportunities for our users to diversify their trading strategies and maximize their potential gains. The team behind the platform designed it to be a “Lego tool-box” for cryptocurrency trading strategies and automated trading, and rules can be created quickly and back-tested before being launched. As a result, Immediate Zenith should definitely suit less technical traders while still incorporating features that appeal to more technical traders. Immediate Zenith is a great way for retail investors to take advantage of the cryptocurrency market by using powerful algorithms and trading bots to generate potential profits using over 250 automated rules.
Your stop distance will continue to move up every time BTC moves up. You set your trailing stop at $250 below the current market level, so at $45,200. In the case of Moving Averages and the RSI, the timeframe is used to define how to aggregate data for calculation. For example a MA(9) in a timeframe of one day stands for the average of 9 daily prices. For the above condition to trigger, the price increase by 5% ‘WITHIN 15 minutes’ would have to happen within one 15 minute candle.
The setup of this strategy uses four moving averages combined with an unconventional approach. On one side, the strategy aims to catch assets trading in a downtrend but on the verge of a possible reversal. Then, the goal of the trading strategy is not to ride the eventual uptrend but to close the trade with minimal profit so that it can scan the market for a new opportunity again.
The main goal of crypto bridges is to help unify the fragmented landscape. You will find the strategy in the template library, or you can build it yourself step-by-step. The purpose of this strategy is to be contrarian on a longer timeframe and simultaneously be trend-following on a shorter timeframe. This combined, multi-timeframe strategy gives you a great signal to buy just when a longer trend is beginning to reverse.
The price increase or decrease set in the condition must happen within the “candle” related to the time frame chosen. This is something that’s hard to put a value on, especially for their target market of mainstream and beginner investors. It’s easy to get a bot set up, and the fact that it’s free for accounts worth up to $3,000 means you can try it out at no cost. You can set custom automated trades that ensure you don’t miss a price pump or get caught in a dip. The automated instructions are sent to the exchange of your choice, and you have complete control of your funds. You will be required to name the new API then select ‘default’ for portfolio.
The rule will be able to trade only coins that have a trading pair with the quote currency selected. In case you have chosen an option such as “any coin” or “any of my coin”, bear in mind that the bot will only consider coins that have a trading pair with USDT. Immediate Zenith has 3 paid-price categories for traders to choose from.