Filters or indicators are parameters by which you can set the conditions for opening or closing a deal. There are many indicators in technical analysis, and new ones appear periodically. Each indicator is calculated according to its own formula based on historical data (price charts for a coin, or for another traded asset taken from the exchange). The set of available filters on the platform Veles is constantly expanding.
Using filters, you can search for oversold/overbought points of an asset, determine the intersection of levels or channel boundaries, track the price itself or its change, trading volumes, and so on.
If you don’t know where to start, you can use ready-made filter templates to start – Conservative, Moderate, Aggressive. So a preconfigured set of indicators will be inserted into the bot, which will all have to match in order to allow the bot to open a deal.
Help for different filters is available in the bot editor by clicking the “?” button.
Now it is possible to create a bot that does not use any filters at the start. But this is very risky, and is not recommended for beginners.
Choosing the best entry point to a deal (that is, not using a bot without filters, or with a filter like “Price is greater than 0”, and also not sending a bot to a deal forcibly because you are tired of waiting) is very important. If the bot opens a position at the point of extreme price deviation from its usual range (a long position at the very peak of the pump, for example), then for effective averaging and achieving profit, it will need a very large overlap and such an amount of funds that usually no one plans to give the bot as a deposit. It is good if the balance allows you to survive the investment and does not liquidate you (in the case of futures). But it will also be unpleasant – lost time, frozen funds, funding. You can put a stop loss in the bot, but it can also be painful. It is easier to choose filters that will at least cut off such situations. It is impossible to predict the market decline with indicators, but it is possible to prevent the opening of a deal at the tops, for example.
If several indicators are configured, the bot will check all the installed indicators if one of them indicates an entry point.
The order in which the indicators are displayed in the bot editor does not matter, the check goes from the older timeframes to the younger ones.
Example:
At 13:00, the bot receives a signal from the TF indicator for 1 hour, but the indicator for 5 minutes did not give an entry point .
After that the indicator with TF 1 hour will “light up” (allow entry) all the time from 13:00 to 14:00.
On the candle from 13:20 to 13:25, the bot receives a signal from the indicator with a TF of 5 minutes. Therefore, the bot will check that there is a signal at both 1 hour and 5 minutes, and at 13:25 it will open the deal.
Read more about bot status here:
https://help.veles.finance/en/bot-launch-statuses/
