This article explains what Triggers are and how they work.
What are Triggers?
Triggers allow you to build safety nets or enable automated actions for your bot. For example, you can create a Trigger that turns off the bot when BTC is rising very quickly. This can be useful for traders who trade against BTC.
How Triggers Work
There are a few examples of how Triggers work. Important: These are just examples. You should do your own research and make your own choices. There are no “golden settings.” For each market situation and each personal strategy, different values may be ideal.
Example 1: Trading with the trend (EMA Triggers).
Trading with the trend is important for conservative day traders and scalpers. You can use indicators on large time frames to identify the broad trend. It is important to trade only when it is in your favor. You can use an EMA Trigger for this purpose. An EMA-based trigger allows you to trade only when the trend is in your favor. You can use a crossover between the fast 10 EMA and the slow 20 EMA to allow or cancel a buy. See the chart as an example:
Create a Trigger. See the example below:
Example 2: Changing the pattern according to market conditions.
In this example, 2 Triggers are created. One for a bullish market and one for a bearish market. You want the bot to change the Triggers depending on market conditions. See the example below for the bullish Trigger:
See the example below for the bearish trigger:
Important: The same indicator and trading pair on the same exchange must be used for the Bearish Trigger as well as the Bullish Trigger. Using different indicators or trading pairs may result in the Triggers being triggered all the time.
For more information on how to set up Triggers, you can read here.
