Bot Overview

This page will describe all bot settings. The key difference between Binance/Bybit is Binance you are likely trading multiple pairs from the same collateral (USDT) and Bybit just one per base pair.

1. API Settings

Enter your API Key and Secret for the Futures API you created on your new Binance account opened via the referral as described in “Welcome to Wick Hunter” under Requirements for the Bot. The bot will automatically activated any account under the referral links. If you are unable to use the referral link, please contact @WickHunter is Discord.

2. Symbol Management

Move the pairs you would like to trade from the “Available” column to the “Permitted” column.

3. Strategy Settings:

3.1 Initial Percent Buy: The size (in % of your account balance) of the first/initial order to open a position on a coin pair. The leveraged margin used for the order is this amount ($) divided by leverage.

3.2 Margin: Select Isolated or Cross margin. This is not a “How to Trade 101” guide, if you do not know the difference, how they both operate and the risks associated with each.

3.3 Leverage: Select your desired leverage. If you don’t know what this is and how it impacts distance to liquidation and risk

Lower Leverage = Lower Risk

3.4 Initial Percent Take Profit (IPTP): Enter the Percentage take profit if the position/trade only enters at the IPB and does not reach any further DCA ranges/DCA buys.

Lower ITPT = Lower Risk 3.5 Liquidation Size, USDT: The minimum the USDT amount of the liquidation for a coin in your Permitted list must be to meet the first of the two conditions to enter a trade/add to an existing position.

HIGHER LIQUIDATION SIZE = LESS RISK 3.6 Long VWAP, %

The distance from current VWAP price, in %, that price must be UNDER when a liquidation event occurs to meet the second of the two conditions to enter a long trade/add to an open long position.

The higher the value, the more price must move below the current VWAP price for it to enter a LONG position, or add to an existing/open LONG position, so the less LONG trades you will get.

If you think the overall trend is BULLISH, lowering this value would INCREASE long trades (i.e. price doesn’t need to move as far under VWAP to trigger a long trade).

HIGHER LONG VWAP = LESS RISK

3.7 Short VWAP, %

The distance from current VWAP price, in %, that price must be OVER when a liquidation event occurs to meet the second of the two conditions to enter a short trade/add to an open short position.

If you think the overall trend is BEARISH, lowering this value would INCREASE short trades (i.e. price doesn’t need to move as far over VWAP to trigger a short trade).

HIGHER SHORT VWAP = LESS RISK

3.8 Max Allocation Per Pair: The maximum percent of your futures account margin you allow each position to use before the bot will STOP adding further DCA buys to the position. This setting is for EACH open position so it is important to consider this in conjunction with your Max Pairs Open setting.

3.9 Min Volume ($MIL USDT): This setting is the Minimum 24 hour traded volume required for the to allow a trade once all other conditions are met. As an example, if a coin's 24 hour trading volume is $25M USDT and you set this to 30, the bot WILL NOT open a trade on that coin, even if all other conditions are met until its 24 hour trading volume is >$30M USDT. 3.10 Max Volume ($MIL USDT): This setting is the Maximum 24 hour traded volume the coin must be under to allow a trade once all other conditions are met.As an example, if a coin's 24 hour trading volume is $350M USDT and you set this to 300, the bot WILL NOT open a trade on that coin, even if all other conditions are met until its 24 hour trading volume is <$300M USDT.

Did you know you can make all of these above settings customized per pair? To do this, select the pair and uncheck "Use Main Settings". This will allow you to customize all the setting for one or more pairs.

4. Account Level Settings:

4.1 Max Pairs Open: The maximum allowable number of concurrent/open trades at any one time. Once this number is hit (i.e. if 3 and trades are open on 3 different coins) the bot will not open another position until at least one closes.

LOWER MAX PAIRS = LESS RISK 4.2 Isolation Mode %: This is a percent of available futures account margin. Once this percentage of your balance is used the bot will NOT OPEN ANY NEW coin positions, it will however continue to DCA any currently open positions. This allows you to ensure you have a defined percentage of your margin available to DCA currently open positions.

LOWER ISOLATION MODE = BETTER POSITION RISK MANAGEMENT

4.3 Stop Loss, %: This setting is a stop loss based on unrealized losses on your account (as a percentage of your account). If this percent is hit, then the bot will automatically close all open positions (market sell on the exchange) and pause trading. This is a great way to mitigate and manage risk in the event of large market movements.

The Stop Loss is on your account. Note, you are countertrading so there will be drawndown. It is important to align your stop loss with YOUR risk appetiate.

5. VWAP Settings

5.1 VWAP Time Frame: The time frame you want the VWAP to be measured on (default is hourly, 15M). This means the 15 minute frame is used to measure the VWAP.

5.2 VWAP Period: The time period over which you want the VWAP to be measured over on the above time frame (default is 5). This means that the previous 5 candles are used to produce the VWAP price and the long and short offsets are calculated from this.

Did you know there is a VWAP Indicator that you can use on Tradingview to see how your setting align with pairs? Head over to "User Resources" to check it out!

6. DCA Settings:

Note - For ANY DCA Buy a liquidation event must occur that meets your other settings (VWAP and Liquidation, USDT), Wick Hunter will NOT initiate ANY DCA buy without a liquidation event that meets your settings as the trigger.

6.1 DCA Start %: The distance price must move from the average Entry Price of the IPB order BEFORE Range 1 DCA will start (similar to a “dead zone”).

6.2 DCA Range 1 - 6 % from Average: The distance price must move from the average Entry Price BEFORE the Range DCA will start. Range 1 = DCA Start % from Average UP TO Range 1 % from Average (0.5% - 2.5% in the above example)

Range 2 = Range 1 % from Average UP TO Range 2 % from Average (2.5% - 5% in the above example)

Range 3 = Range 2 % from Average UP TO Range 3 % from Average (5% - 7.5% in the above example)

Range 4 = Range 3 % from Average UP TO Range 4 % from Average (7.5% - 10% in the above example)

Range 5 = Range 4 % from Average UP TO Range 5 % from Average (10% - 15% in the above example)

Range 6 = Range 5 % from Average UP TO Range 6 % from Average (15% - 100% in the above example)

6.3 DCA Range 1 - 6 Percent Buy: This is the percent of your account that the bot will buy on each buy/sell for each DCA Range.

This setting does NOT include leverage. For example if you had a $1,000 account and 0.2% for this setting your buy is $2 regardless of leverage. Leverage effects the margin of your account the trade uses and is calculated by:

(Balance x Percent Buy %) / Leverage = Margin used by order

6.4 DCA Range 1 - 6 Number of Buys: This is the total number of buys allowable in each DCA Range. Note - All DCA Buys in each Range DO NOT need to be fully used before DCA Percent buys in subsequent Ranges are enabled. If price moves quickly with few liquidations that meet your settings and average Entry Price moves to subsequent DCA Ranges, DCA Buy Percent for these Ranges will then be used (so in the above example, you may only use 6 of the 10 DCA Percent Buys before average Entry Price moves to Range 2 if price moves away from you without liquidations to trigger all DCA Percent Buys from Range 1).

6.5 DCA Range 1 - 6 Percent Take Profit (Dynamic Take Profit): This is the Take Profit (in %) that you want Wick Hunter to use for the open position once a DCA Buy Range is activated. Once a Range is activated, the Percent Take Profit for this Range remains in effect until the trade is closed (hitting TP) or until the next Range UP is activated.If price retraces to come into previous Ranges, the Percent Take Profit remains set at the last DCA Range which had a DCA Buy placed.

Did you know with the most recent release, you can add additional DCA Ranges? This is very powerful to use with PND Sim tool in "User Resources".

7. Discord Notifications:

This is where you place the WebHook for the channel you created in your own Discord server to receive Wick Hunter trade advice and bot alerts. https://support.discord.com/hc/en-us/articles/228383668-Intro-to-Webhooks

8. Advanced User Settings:

8.1 Enabled VWAP for DCA: This is by default enabled. If you would like the bot to not check VWAP (would just rely on your DCA Ranges / a Liquidation Event) then you would uncheck this box. 8.2 Enabled Entry: This is by default enabled. If you would like the bot to not enter into any trades, then you would need to disable this. Note, this is an "Advanced User Option" and allows you to enter position manually and the bot will place the take profit and DCA the position according to your settings.

CONGRATS!! You have made it to the end of the settings overview. Feel free to reach out in Discord with any questions. It is IMPORTANT to understand the settings before running the bot!