Hello everybody,
I was reading through all the automatic crypto trading bots. They have thousands of different strategies and complicated algorithms, but it seems i cant find a simple thing im looking for. I would like a bot doing an automatic buy when the price hits 24h low(or near 24h low) and an automatic sell when the price reaches 24h high(or near 24h high). Imagine the profits which could be made simply following this strategy every day. Could somebody please recommend me a bot like this or how to make a bot like this?
You can't time the markets, so what you want to achieve is basically impossible. How would the bot know that the prices already hit 24-hr high and 24-hr low without having to aggregate the data ahead of time? The best a bot can do is to make some averages on a few hours interval and make the best possible trade from there. What you're wanting is beyond the capabilities of machines. Heck, it even asks space and time to be curved to favor your bot's decisions!
I think there's actually a possibility to do it without having to predict anything.
Take a 24h chart. In the past 24h, say BTC's lowest point was $9,000 and the highest one was $10,000. If BTC hits $8,999.99, the bot would buy while if it hits $10,000.01, it'd sell. In 5 minutes (or whenever the 24h data changes), the figures could change.
There's no need to predict anything. Just take the data from the past 24h and make use of it if I got it right - a quite interesting idea.
Simply no. Bitcoin is not your regular stock that retains most of its trading activity from yesterday to today. It's highly volatile, and if you'll be basing your 24-hr high and low data from yesterday and use it for your exploits today, I don't think you'll make any money in the long run. You may get lucky but still, this is a sure-fire way to lose money, but with few extra steps.