Advanced Bots
Available to Premium and Professional users.
Last updated
Available to Premium and Professional users.
Last updated
Advanced Bots give users absolute control over the parameters associated with a technical indicator. New users or traders are strongly advised to understand how a technical indicator works before trying to configure the indicator's parameters. Alternatively, they can simply rent one of the preset bots from the Bots Marketplace.
Professional Plan users have access to the following features: a) 1 minute trading frequency and, b) trading on extended hours.
To access the settings, simply add Advanced Bot as shown in the image below:
and choose the technical indicator in the Entry Conditions tab. You can change the indicator's settings.
Please note that these settings apply to the entry indicator values. If you add Bollinger Band to your exit condition and click on the settings button, you will see the corresponding exit indicator values.
You may also choose a different period for each entry and exit indicator values.
This User Guide will not dwell on the mechanics of each parameter for every technical indicator. This subject requires your own self-study.
If Active Trailing is enabled, it means that the extra order will be triggered if the indicator values continue to fall to the level configured for extra order.
If it is disabled, it means that the indicator value has to rebound above the base order indicator Level and fall back to the level configured for the extra order, in order for the extra order to be executed.
Example A: if Active Trailing is enabled using simple 30 RSI signal for buy, and 25 RSI signal for extra order.
T
50
No
T+1
29
Base Order
T+2
24
Extra Order
Example B: if Active Trailing is disabled using simple 30 RSI signal for buy, and 25 RSI signal for extra order.
T
50
No
T+1
29
Base Order
T+2
24
No
T+3
32
No
T+4
24
Yes
You can configure Entry and Exit parameters
StockHero's Advanced Bot offers quite a few conditions for exiting a deal. One of the most popular is the Indicator Exit condition. Some traders would like to pair an exit indicator with a minimum profit. Hence, StockHero offers a Minimum Profit for Indicator Trigger option.
This is useful when the bot enters a deal at a set indicator level (for example, RSI = 30 and the price of a stock = 3000), but if the user selects RSI = 70 for exit AND if the market has been free-falling after the deal is opened, even though the RSI may rebound to 70, the exit price could still be lower than the entry price. Closing a deal at this stage would result in a loss.
Hence, a trader may require a deal to have at least a profit even though the exit indicator condition is met.
For example, if Minimum Profit for Indicator Trigger is NOT enabled:
Buy stock X
30 (Entry condition met)
3000 USD
Does nothing
25
2900 USD
Does nothing
35
3050 USD
Does nothing
25
2700 USD
Sell X
70 (Exit condition met)
2950 USD
exit with loss
But, if Minimum Profit for Indictor Trigger IS enabled:
Buy stock X
30 (Entry condition met)
3000 USD
Does nothing
25
2900 USD
Does nothing
35
3050 USD
Does nothing
25
2700 USD
Does nothing
70 (Exit indicator met but Min Profit not met)
2950 USD
Sell X
75 (Exit indicator and Min Profit met)
3100 USD
