Triggers are an important feature of your hopper. Triggers can be used for a variety of different purposes, such as making sure we are only trading with the trend, or not buying when the general market is overbought, protecting ourselves from crashes and even from pumps. We will now continue by looking at how to set up different triggers and take your trading to the next level!

Trade With The Trend (EMA triggers)

Trading with the trend is especially important for our conservative day traders and scalpers. Trend-following indicators on the larger time frames can be used in order to identify the broader trend and make sure we are only trading when it is in our favor. We can use an EMA trigger for this purpose. An EMA based trigger that could allow you to trade only when the trend is in your favor. Thus, we can use the cross between a 10 fast EMA and a slow 20 EMA in order to enable or disable buying.

On the chart, it would look like this:

Let’s now look at how you could create the trigger we have talked about on Cryptohopper!


To create a trigger you have to go to config/triggers:


Then, click on New:



We will start with the bullish trigger: We have named our trigger EMA Trend Bullish. We have selected Binance as our exchange, and BTCUSDT as our market (you can select other exchange and another stable coin if you wish). We have selected the EMA as our indicator of course, and the candle size of 1 day. Our trigger point, in this case, is when the EMA signals a buy. We have set the EMA short period to 10 and the long one to 20. For the “Action”, we have chosen “Set buying status” and then set the status to “enabled”. For the cooldown period, we have chosen 5 minutes as we want a short cool-down period in this case. Then you can hit “save” and we are done!

Our trigger should look something like this:





In order to disable buying in a bearish market, you can create a new trigger with the same settings. The only difference would be Trigger when EMA: “Signals a sell” and Set Buying Status: “Disabled”.

Changing Templates Based On Market Conditions:

Instead of disabling buying when the general Crypto market enters a bearish period, you could instead use a trigger which will load the bearish template you have created just for this purpose! Let’s say that you have created 2 templates, one for bullish market conditions, and one for bearish the bearish ones. You would then like your hopper to change these templates automatically according to the market conditions. Let’s now dive into some examples:

Bullish Trigger





Bearish Trigger





Important to note here is to rely on the same indicator and the same trading pair on the same exchange, to load both the bullish and the bearish template. If you use the EMA to load the bullish template, then you must use it to load the bearish one (this applies to other indicators such as the MACD, RSI, Stochastics, etc.). Using different indicators or trading pairs may result in triggers, being activated constantly.

It is also important to note, If you have enabled ''do not overwrite/reset triggers'', then all settings of your new template will be applied except for the triggers. As such in our example, we wouldn’t overwrite/reset triggers as we are only using 2.

Crash Protection Trigger

If you are a trader that uses a stable base currency, you may want to protect yourself against market crashes, especially major ones. This trigger can be especially useful when coupled with trend-following indicators, and less useful when used with momentum oscillators such as the RSI. A solid way of protecting yourself against general market crashes is to set up a trigger that will disable buying when BTC crashes by a certain % in a certain time frame. For example, let’s say we want to disable buying when BTC crashes by 4% in 30 minutes. Our trigger would look something like this:



Make sure the value here is negative!



Pump Protection Trigger

If you are using an unstable base currency such as BTC/ETH/BNB/KCS etc, then you may want to protect yourself against pumps in your base currency. If your base currency rises strongly against other coins, then it will be harder for you to make a profit. As such, you can again use a “percent change” trigger in order to protect yourself from this risk. It is very important here to select your base currency (not necessarily BTC as in our example) against USDT!



Make sure the value here is positive.



Conclusion

Triggers are an important part of a trader’s arsenal which offers the possibility of trading with the trend, using the right settings according to the right market conditions, and protecting one from crashes or pumps. Create your trigger today, customize it as you see fit, and take your trading to the next level with Cryptohopper!