In this tutorial, we will figure out how to set up Bearish Power robot from our partner Smart Grow. Bearish power uses custom created indicators in multiple timeframes to signal potential trend reversals. The bot is not waiting for a trend confirmation signal to enter, instead it uses statistical extreme values to open a trade.
First, go to the «Algotrading» section. Select the «Trading robots» section. In the “All robots” tab, we see Bearish power robot in the upper part. Click on the «Test» button. This robot trade both long and short positions in the futures market.
For testing, you must have any paid PRO package. Then we go to «My robots» tab.
Then we press «Manage» button.
A window opens with the parameters and settings of the robot. There are two modes. These are test mode and working mode. If you haven’t run such robots yet, you can run it in test or demo mode. In this case, the bot will enter real orders directly according to the chart, taking into account the order book, but your balance will not be affected.
Let’s see how to start the robot in work mode, for this you need to select the work mode and go to the «Settings«.
The first thing we do is choose an exchange. In order to be able to connect the Binance and Binance Futures exchanges, it is necessary to pass verification on these exchanges themselves, before linking them via the API. Next, select one of the keys or accounts and select the balance for trading. The robot itself calculates the trading lot size in the amount of five percent of the total balance. During trading, the robot can only use half of the allocated balance in accordance with the risk management.
Сlick «Edit robot and Start«.
The statistics section will display all statistics for the running robot. These are the percentage of successful trades, the percentage of unsuccessful ones, the average profit, the average loss and the balances of profit and loss.
You can also go to the «Trades» section , where both closed and open deals will be displayed. Also information on the exchange, currency pair, opening prices, opening time, closing prices, closing time and its status, profit on both closed and open orders in real time.
You can close the order by clicking «Sell» button.