The shortlisted feature that has been the top request for this indicator is finally here. SHORTS!
When adding a short deal to the AF Sim Pro you should:
- Review and invert all the (long) preset settings to the short thresholds
- Paper trade, shorts are riskier than longs, adding funds to shorts are even riskier!
- Review the alert message by enabling the troubleshoot mode and reference your bot settings page
- Make sure that the add funds alerts are working as intended with a small volume of funds before increasing the volume
- Select Fund Type to be either Quote or Base asset depending on what you want to add to the deal
Examples of the new settings layout:
Deal: Select Long or Short here, according to the deal you want to add funds to.
Date: Start date of the deal, only used as a visual aid.
Average price: The current average price of the deal.
Volume: Current volume of the deal.
Expected bounce: The bounce you expect from the AF trigger to reach neutral +-0 deal. (not your TP). Please be aware that the calculated volume uses the expected bounce in the calculation and not your TP. Treat your TP as an added bonus where you can manually exit in additional profits if you feel it is decent to do so. Shows as red fill between the AF trigger and the zero line.
TP: Take profit, the additional profit level above the zero line. Shows as a green fill between the zero line and the TP target.
Drawdown: A buffer zone from the average price where you do not allow the AF Alerts to be sent. If your bag is small and you think it’s too soon to add funds if it’s only -5% below the price, you can make sure you don’t add any funds until you’re beyond the drawdown you select here.
Block: A buffer zone from the latest Add Funds trigger where you don not allow additional alerts to be sent. If you think it’s unnecessary to add additional funds in the same price range you can block it. Setting a 5% block will make sure any new Add Fund alerts are allowed once the price have moved 5% away from the latest AF alert.
Volume type: Select Calculated Volume, Global Volume or Indicator Volume
- Calculated: Will calculate the volume required when an AF alert is sent. It adapts to the price distance from your average and the expected bounce you have set. This is high risk and should be used together with the setting Max Volume. Otherwise you can risk using more funds than you intended.
- Global: You have one global value for any and all of the AF alerts regardless of settings or indicators. This can be good if you want to know how much each of the alerts will use every time. It is a bit more blunt tool compared to the calculated volume. Set the volume in the setting Global Volume on the row below, it has a default value of 10 since it is the minimum allowed volume on Binance.
- Indicator: This option allows the most detailed settings. When you select Indicator you can set the volume of all the different indicators individually. If you believe the RSI entries are really good and powerful you can allow them more volume compared to any of the other indicators. The volume is set at each individual indicator when you have this option selected.
Max Volume: Here you can set the max volume. Only applicable when Calculated is selected.
Global Volume: Here you can set the global volume. Only applicable when Global is selected.
It’s pretty much the same settings for all the indicators, RSI serves well as an example.
Volume: Only applicable if Volume type is set to Indicator. The volume the AF alert will use when this indicator triggers.
Length: The amount of bars used in the calculation.
Level: The threshold value for when the indicator crosses it, the add funds alert will be trigged. Say you set the level to RSI 20 and Deal type to Long: when RSI crosses down below 20 it will trigger an Add Funds alert.
Source: The source data for the indicator. Usually Close, otherwise Open, High, Low, OHLC4, etc. Only the External indicator allows input from another indicator (a VIP feature).
Timeframe: The selected timeframe for the indicator. Higher timeframes produces stronger signals but further between them. Lower timeframes happens more often but can create many false positives.