In a span of 2 months, the price of Salana has skyrocketed by 270%

Outperforming Major Cryptocurrencies

Creating a Profitable Trading Bot

Salana’s success is largely attributed to the improved scalability of its blockchain. Its faster transaction speed and lower transaction fees make it an attractive option for investors and retail traders. That’s why I decided to create a fully automated profitable trading bot specifically for day trading Salana with a high success rate.

In this step-by-step guide, I will show you the exact process of creating such a bot and teach you how to make it fully automated so that you can generate passive income day by day. This tutorial will be extremely useful for beginners and professional traders. Just follow along, and you’ll have your own profitable trading bot for free by the end of watching this video.

Dear friends, if you enjoy my content, please like this video and subscribe to Trade IQ for more useful trading tutorials in the future. Without wasting any time, let’s get started.

It’s a must to mention that this trading bot works great for day trading Salana on the 5 and 15-minute charts. Once you’ve logged into your Trading View account and selected the instrument and the timeframe, it’s time to open the indicators.

We will create a trading bot based on one easy-to-follow buy and sell indicator. Not many traders know about this gem yet. The tool is called Multi-Divergence Buy and Sell Indicator by Brutal Trader YT. Let’s apply it to the chart.

Here’s the reason why I chose this indicator for our trading bot. The Multi-Divergence Buy and Sell Indicator is a technical analysis tool based on the concept of divergence, which occurs when the price of an asset is moving in the opposite direction of a momentum indicator or oscillator. This tool uses multiple indicators to spot such divergences, such as Relative Strength Index, Moving Average Convergence Divergence, and Stochastic.

The tool identifies situations where, for example, the price of a security is making new highs while the indicator is making lower highs, or the price is making new lows while the indicator is making higher lows. Based on these divergences, the indicator generates buy or sell signals. A bullish divergence triggers a buy signal, while a bearish divergence triggers a sell signal. Our trading bot will be based on the buy and sell signals issued by this indicator. When the indicator issues a buy signal, the trade will run until a sell alert is received. A long position will be closed, and a short trade opened at the same time.

Now that we’ve identified clear rules for buying and selling, it’s time to code this indicator into a trading strategy. For that, open the Multi-Divergence Buy and Sell Indicator source code and copy the whole script. The next step is to go to open.com or use Chat GPT to code this strategy in Pine Script. The outcome will be the same. Ask Chat GPT to code a simple trading strategy in Pine Script with the following indicator. Paste the indicator script into your message, and Chat GPT will code you a full trading strategy with this buy and sell indicator. Copy the code and go back to Trading View. Open a new strategy template, delete the default code, and paste the script given by Chat GPT. Apply the script to the chart. If you encounter any errors when applying the script, address them to Chat GPT, and it will fix them immediately.

Once you’ve successfully added the strategy to the chart, head over to the strategy tester. Here you’ll see the algorithm’s performance, such as win rate, profit factor, maximum drawdown, etc. Open the strategy settings, where you can modify many parameters. I’ll give you my best settings for trading Salana on 5 and 15-minute timeframes. Change the MACD to 10, long length to 20, and signal smoothing to 10. Set the Stochastic length to 10. Remember, these are my personal settings, and you can modify them as you wish for potentially better results.

In the strategy properties, you can also modify initial capital, order sizes, pyramiding, etc. For example, let’s set the initial capital and order size to $1,000 USDT. Pyramiding will be set to 10. Later in this video, I’ll explain what this does. Once you’re finished adjusting the settings, click OK. Now you can check the strategy performance on different timeframes and securities. As you can see, the algorithm works great for Salana on short timeframes. The winning ratio on the 15-minute chart is over 68%, with the profit factor at 5.4. These numbers are really impressive, considering we only rely on one indicator within a short period of time. The strategy’s net profit exceeded 340%, with the maximum drawdown at 20%.

If you need a more advanced money management system, go back to Chat GPT and ask it to use ATR for setting stop-loss and taking profit. For stop-loss, use 2 values, and for take-profit, use 4 ATR values. Copy the modified script and install it on the chart. You can also add more indicators to the strategy to filter out low-quality signals. Simply copy the indicator source code and ask Chat GPT to implement the script into the existing code. Mention the updated strategy rules.

Now it’s time to show you how to automate this trading strategy into a bot that will automatically open and close trades. The first step is to register a free Pionex account. Open the Futures menu at the top and click on Futures Bot. On the right-hand side, you will see two bot options, Futures Grid, and Signal Bot. Click on Create a Signal Bot. Add a custom TradingView signal, set the signal name and input a description if needed. Let’s name this bot the Salana Growth Bot.

Now you’ll need to visit TradingView to finish signal configuration. Set parameters like an initial capital size, order size, and enable pyramiding if necessary. Pyramiding in trading is a strategy that involves increasing the size of a position in a profitable trade to maximize potential gains. The main idea behind pyramiding is to add to a winning position rather than opening a new position at a single entry point.

Once you’ve done all the configuration, copy the webhook URL address. Go back to TradingView, open the strategy’s alerts, enable the webhook URL, and paste the address you copied from Pionex. Go back to settings, delete the message, and copy the message from Pionex. Paste it into this window, click Create, and return to Pionex to automate the signal with Pionex.

You can automate any trading strategy on TradingView. If creating your strategy is too complex, don’t worry. On Pionex, you can find dozens of free bots that generate high returns. Simply head over to the Pionex GPT Marketplace and choose the bot that meets your requirements.