This tutorial shows you how to create your own strategy, which helps your bot to scan the market for buying opportunities. By the end of this guide, you will have created a strategy of your own.
Before you begin, ensure that you have the following prerequisites:
- You have a Cryptohopper account.
- You have a working Hopper.
- You know what technical indicators are all about. If not, check out our walkthrough on technical indicators first.
- Go to the strategy designer page. It’s on the tab on the left hand side of your dashboard, labeled “strategy”.
- Click on the “New Strategy” button in the top right corner
- Name your strategy, give it a description and choose an image for it.
- Click on the “save” button.
- Click on the indicators button and select all indicators you want to use.
- Configure the indicators by clicking the little cog wheel on the right of the indicator you want to adjust.
- Click on the buying/selling button to adjust if you want it to for buying signals or selling signals.
- After configuring the indicator, decide if you want to keep the signal longer than one candlestick. This is convenient when you use multiple indicators.
- Click save.
- (optional) Repeat this with candlestick patterns.
- In the bottom side of the page, select how many of your chosen indicators should signal a buy before validating a trade. Repeat this with selling.
- Once you have created your strategy, make sure to save it.
- Use the added backtesting feature to check how your strategy performs.
It’s perfectly possible to create a strategy using only buy indicators for buying. But this means your strategy will not be able to sell, so you will need the hoppers config for that!
Configure the newly created strategy in your Hopper.
- Click the “config” dropdown in the menu on the left.
- Click “Baseconfig”.
- Click “Strategy”
- At the strategy dropdown, select your newly created strategy.