What are triggers? Triggers are ideal to incorporate to your strategy more functions that, for sure, will allow you to improve your results. It is a function that lets you to automatically perform certain actions once a specific event has taken place. 

For example, you can tell your hopper to disable buy (action) when the Bitcoin price has decreased by more than 4% in 30 minutes (event/trigger). In this way, if that event takes place the hopper will not buy until either you activate it manually or set another trigger that will activate it.

The triggers offer you a wide range of tools to design them. You can select among many actions like load different template, change the buying or selling status, take profit, panic sell etc. To execute them, you need to select 4 options: exchange, market, candle size (timeframe) and indicator(s).

To put all this in practice, let’s create a trigger!

This trigger will take profits or cut losses short for all the open positions once the market turns down according to one of our indicators. Let’s do it step by step.

  1. Click on Config, then Triggers and now you are set to start creating it. You can name it and enable it so it will be ready to be used as soon as you have finished it.

  2. Next, the trigger’s configuration. Select the exchange and market of the trigger. They don’t need to be the ones that you selected in your Baseconfig, you can choose whatever exchange and market you would like. In this example, we’ve chosen KuCoin BTC/USDT.

  3. In this step, you will select the trigger or event that needs to take place in order to execute the action that you have chosen (next step). Here you need to fill two fields: candle size and indicator. As indicator I will select RSI greater than (>) 70 and candle size 30 mins. Therefore, every time that the RSI will be higher than 70, the trigger will execute the action that I will specify in the next step.

  4. Action(s). Time to select what will happen once the RSI is greater than 70 with 30 mins candles. As we previously said, we want to sell all the open positions. One of the actions that could be useful for this purpose is “Sell everything/Panic mode”. This action will set sell orders for all the positions you have currently open, then leaving no open positions and taking.

  5. Last but not least, the cooldown period. It determines the amount of time in which the trigger will not activate again. That is, even though the trigger RSI is above 70, if it is within the cooldown period, it won’t activate the action. In the example, that you can see below, we have put 50 minutes of cooldown period.

    Trigger

If you have been following these steps, congratulations! You have created your first trigger. It is the perfect function to complement your strategy. By continuously checking your condition(s), it will determine when to execute the action. Do not hesitate to get your triggers ready for better automation and performance of your bot!

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