- What is the REVENUEBOT?
RevenueBot - software designed for automated trading on cryptocurrency exchanges using the API interface.
The bot performance is based on the use of the cryptocurrency volatility rates. A bot can trade any pair of cryptocurrencies available on the chosen exchange.
You can run several bots simultaneously, which allows you to trade several pairs of cryptocurrencies simultaneously on either the same or on different crypto exchanges.
The bot works from the "cloud" all around the clock, there is no need to install any software to your PC or leave a program switched on so as to not interrupt the working process.
The bot works completely automatically, but it needs to be configured. Our service does not impose any specific settings and does not offer the services of cryptocurrency and finance trust management.
We can recommend successful strategy templates for bot settings, but it is up to you to decide how the bot will operate.
To do this, our service provides a convenient interface for access to all possible bot settings, as well as complete statistics on trade and revenue.
- How to get started? what do i need?
You need to register on our website. Our support team will review your registration submission within 24 hours.
You also need to have accounts on the crypto exchanges where you are going to trade that have the required balance of cryptocurrencies for trading. We do not store your cryptocurrencies, do not accept deposits of your cryptocurrencies, and do not make any payments (except for the payments under the RevenueBot referral program). All cryptocurrencies are stored in your accounts on the crypto exchanges.
Create API keys on the desired crypto exchanges and add them to our service. To work with the stock exchange, a bot needs an API key to access the exchange on behalf of your account. The key consists of the key itself and the secret token.
You need to create API keys that only include the rights for trading, and do not include the rights for cryptocurrency input/output to/from exchanges. You must follow the rule - one API key for one exchange. Do not use the same API key for any other needs or services.
Create virtual wallets in our service. Virtual wallets are used to determine the deposit, which the bot will operate with.
Replenish the RevenueBot account balance. The RevenueBot account balance is used to withdraw the commission for each profitable transaction that the bot makes for you. You can replenish the balance of the RevenueBot account later after you earn your first profit trading with a bot. Read about our service’s cost in the relevant FAQ section.
Create one or more bots and launch them to begin working.
For additional details on each of the above items, read the instructions in the relevant FAQ sections.
- WHAT is the MINIMUM DEPOSIT IS REQUIRED TO WORK WITH the REVENUEBOT?
The minimum deposit for using the bot is calculated based on the number of orders in the orders grid used by the bot.
The bot divides the deposit into parts. The number of orders in the orders grid determines how the deposit is divided. Each of the orders in the grid must meet the requirements for the minimum order size at each of the exchanges. Therefore, we recommend allocating to the bot a minimum deposit of 200 USD equivalent and more. For example, if you use the BINANCE exchange, where the minimum order size is 0.001 BTC, then to create a grid of 20 orders, you need to have a deposit of approximately 0.02 BTC. If the deposit is less, the bot will not be able to place orders on the exchange.
- How much do you charge for the use of REVENUEBOT? WHAT IS the REVENUEBOT ACCOUNT BALANCE?
We do not charge a monthly fee or a commission on the transactions the bot makes on crypto exchanges. We only charge a commission of 20% on the profit you earn when trading with a bot, but no more than 50 USD in BTC equivalent per a calendar month. You do not need to spend your money to use our bot!
To collect commission on profits made by trading with bots, there is a RevenueBot account balance.
Every time a bot earns a profit, the commission is charged to the account balance. Each transaction is shown on the profile page. If the balance is negative, the bots will not launch, and already launched bots will stop.
It is necessary to ensure that your account balance is positive. The user is given 72 hours to replenish the balance in the event it becomes negative; after the deadline, the account moves to a “suspended” state and all bots stop.
- How do i replenish the REVENUEBOT account balance?
When you create your account, a BTC wallet that is linked to the account is automatically created. Account balance can be replenished in the dashboard tab or on the profile page.
To do this, click the link Top-up balance. Then choose the payment method you would like to use. A window for copying or scanning the QR code of the BTC wallet to which you want to transfer funds will open.
- How does the REVENUEBOT work?
The bot uses the exchange API interface for placing orders according to the selected algorithm and tracking their execution.
There are two algorithms for the RevenueBot operating at the moment:
The «Long» Algorithm
The bot performance is going in cycles and is based on the principle of buying in parts when the price decreases (the initial part of the cycle) and selling for a profit when the price increases (the final part of the cycle). The idea is that having a certain deposit, the bot does not buy the whole amount at once, but in parts when the price falls, using the orders grid calculated in advance.
The first purchase order in the grid is the closest to the current price and the smallest volume. Each subsequent purchase order is larger (martingale system is used) and cheaper. Thus, when the price drops, the bot buys more and more, but for a lower price. This allows you to make a final profitable transaction, selling everything for a larger profit, since subsequent purchases were bought at a price much lower than when the bot initially began to buy.
After placing an orders grid on the stock exchange, the bot monitors its execution. If the price drops, the first order in the purchase grid that was closest to the current price will be executed. Noting this, the bot will place a take-profit sales order on the stock exchange (the volume of the order will be the same as the volume of the order just executed from the purchase grid, and the profit will be included in the price).
The bot will continue to monitor the execution of orders on the stock exchange. With further price drops, the second order in the purchase grid will be executed. Noting this, the bot will cancel the current take-profit sales order and place a new one that will carry the volume of the two executed purchase orders, its price will be lower than the price of the sales order that has just been canceled, but it will also include a profit. Thus, the algorithm will continue until the price rises and the take-profit sales order is executed.
Note that as the price drops and the primary sales orders are executed, the price of the take-profit sales order will also decrease, which will eventually allow you to sell everything bought at a price cheaper than the price was when you started to buy. Also note that the take-profit order is always a single order, it bears the volume of all executed primary orders, and its price is the price of all purchased plus profit.
When you execute a take-profit order, the cycle ends, the bot calculates everything, and it starts a new operating cycle. Profit is being realized in the second coin of the trading pair.
Important: We do not recommend interfering with the bot operation algorithm and manually performing any actions with orders on the exchange created by the bot. Such intervention will lead to an error in the bot working process.
Let’s take a closer look at what the orders grid for the LONG algorithm is and how it is calculated.
The orders grid is a table in which the rows are order numbers, and the columns are the order volume and price. The number of orders in the grid determines the number of rows in the table.
How are prices calculated in the orders grid?
Order prices in the grid are calculated based on the current price at the exchange.
The price of the first order in the grid is determined by setting the "first order indent %" - the indent of the first order in % (by what percentage less the price of the first order in the grid will be than the current price). Setting the "rate cover %" – also called the percentage of the price change overlapping determines at what percentage the order grid will cover the price change. In fact, this parameter sets by what percentage the last order in the grid will be removed from the current price.
Orders in the grid are distributed over the entire overlap of the price change.
The distribution of order prices in the grid can be linear (by default) or logarithmic.
The linear distribution sets an even distribution of prices over the entire overlap of the price change (the same distance between the prices over the whole overlap of the price change)
The logarithmic distribution sets a high density of orders near the current price on the exchange. This was made to involve more deposits for trading near the current price, since the main fluctuations occur precisely near the current price.
For example, the current price of an asset is 100, the percentage of overlapping price change is set at 50%, the indent of the first order is 5% and the number of orders is 10.
Linear distribution will set order prices at 95 90 85 80 75 70 65 60 55 50.
Logarithmic distribution will set order prices at 95 93 90 86 81 76 71 64 59 50.
As can be seen in the logarithmic distribution, we get more orders near the current price.
Important: the use of the logarithmic distribution increases the risks in trading.
Read in detail what the risks are when trading with a bot.
How is the volume of orders calculated in the grid?
To calculate the volume of orders, the martingale system is used. The martingale system sets the percentage for how much larger the volume of each order in the grid is than the previous one. The first order in the grid has the smallest volume and is the closest to the current price; each subsequent order is larger than the previous one by the specified percentage and farther from the current price. This makes it possible to make a profit with a lower price rebound. The higher the martingale percentage, the lower the price rebound needed to make a profit.
A simple example of the bot performance in the LONG algorithm with high volatility.
For example, a bot trades a Y/X pair, the percentage of price change overlapping is set at 50%, the first order indent is 5%, the number of orders is 10, martingale is 5%, the deposit allocated to the bot is 1000 X, the desired profit is 1%. A bot will buy parts “Y” for “X” when the price “Y” drops, after that bot will sell all purchased “Y” when the “Y” price increases.
At the time of the orders grid calculation, the current price of the purchased asset (coin "Y") on the exchange is conditionally 100. Based on this price, the bot will calculate and place the following approximate grid of purchase orders on the exchange:
1 order: volume 0.83, price 95
2 order: volume 0.92, price 90
3 order: volume 1.02, price 85
4 order: volume 1.15, price 80
5 order: volume 1.28, price 75
6 order: volume 1.44, price 70
7 order: volume 1.63, price 65
8 order: volume 1.85, price 60
9 order: volume 2.12, price 55
10 order: volume 2.46, price 50
As you can see, the first order is the closest to the current price on the stock exchange and the smallest in terms of volume, each following is larger and cheaper.
If the price drops to 50, then all ten of the purchase orders will be executed sequentially. In order to earn a profit, you will need a subsequent increase in the "Y" price to about 70 to make the desired profit of 1%. This is much lower than when we started to buy "Y" for 95. Note that the higher the martingale percentage, the lower the price increase that is needed after the drop, in order to take profits, since the bulk of purchases will be made at cheap prices. Profit will be received in the "X" coin.
The «SHORT» Algorithm
The principle of performance is the mirror of the LONG algorithm and is based on the principle of selling in parts when the price rises (the initial part of the cycle) and buying everything sold for a cheaper price when the price drops (the final part of the cycle).
All of the features of the bot algorithm are detailed in the description of the LONG algorithm. We list the only differences between the SHORT algorithm and the LONG algorithm below.
The first sales order in the grid is the closest to the current price and has the smallest volume. Each subsequent order is larger (martingale system is used) and more expensive. Thus, as the price rises, the bot sells more and more, but for a higher price. This allows you to make a final profitable deal by buying everything sold at a price much higher than the price was when bot started selling.
After placing the grid, the bot keeps track of the placed orders and, if executed, places a purchase order at a price lower than the orders were sold for.
With this algorithm, profit can be received both in the second coin of the trading pair, and in the first coin.
Profit in the first coin is suitable, for example, for those who hold promising altcoins for a long time and want, by trading them to BTC, to increase the initial deposit in altcoin, and not to earn in BTC.
A simple example of how a bot works in the SHORT algorithm in the case of high volatility.
For example, a bot trades a Y/X pair, the percentage of price change overlapping is set at 50%, the indent of the first order is 5%, the number of orders is 10, the martingale is 5%, the deposit allocated to the bot is 100 Y coins, and the desired profit is 1%. The bot will sell "Y" for "X" in parts when the price of "Y" rises, and then it will buy all "Y" that was sold for the "Y" price drop.
At the time of the orders grid calculation, the current price of the sales asset (coin "Y") on the exchange is conditionally 100. Based on this price, the bot will calculate and place the following approximate grid of purchase orders on the exchange:
1 order: volume 7.9, price 105
2 order: volume 8.3, price 110
3 order: volume 8.7, price 115
4 order: volume 9.2, price 120
5 order: volume 9.6, price 125
6 order: volume 10.1, price 130
7 order: volume 10.6, price 135
8 order: volume 11.1, price 140
9 order: volume 11.7, price 145
10 order: volume 12.3, price 150
As you can see, the first order is the closest to the current price on the stock exchange and has the smallest volume; each following order is larger and more expensive.
If the price rises to 150, then all 10 sales orders will be executed sequentially. In order to get a profit, you will need a subsequent price drop of "Y" to about 130 to make the desired profit of 1%. This is much higher than the price at which we started selling "Y" – at, 105. Note that the higher the martingale percentage, the lower the price drop that is necessary after the rise in order to take profits, since the bulk of sales will come at more expensive prices. Profit can be received in the "X" coin, and in the "Y" coin.
Thus, the success of trading is determined by such indicators as the number of orders in the grid, the difference in their weight, the distance between each of them, the indent of the first order, and how much farther from the current price the price of the last order in the grid will be.
All of these indicators are set in the bot settings. Details on each of the settings are shown in the bot creating FAQ section.
- WHAT ARE the RISKS of TRADING with a BOT?
Negative results of bot performance can be attributed to a situation when the price of the traded cryptocurrency has changed a lot and for a long time. As a result, all insurance warrants were executed, and we got into the "investor" situation, waiting for the price to return to the level where the bot could complete the working cycle with a profit. So, we have reduced the value of the initial deposit allocated to the bot, by buying an asset too expensive with a long and strong price drop (LONG algorithm), or by selling an asset (initial deposit) too cheap with a long and strong price increase (SHORT algorithm) and we are now forced to wait for the price to return.
The “investor” situation can be caused by too aggressive bot settings, as well as the wrong choice of trading pair. For detailed recommendations for reducing the trading risks, as well as the trading strategy that is best suited for RevenueBot read the appropriate FAQ section.
What to do if you find yourself in an "investor" situation?
You should not be afraid of this situation. Here are the options to resolve the situation:
- Usually the price returns if a decent cryptocurrency is chosen for trading. Price fluctuations +-30% are a normal thing, so you should not use a percentage of price changes overlapping (rate cover %) that’s less than 30-40%.
- You can calculate the price of the final order cycle in a way that allows you to exit the trade with a 0% profit or with a small loss. We have a convenient profit calculator for such cases (control button "re-set fix order").
- You can start trading in the other direction, using the trade resulting cryptocurrency (switching the bot algorithm to the opposite), so that the deposit does not idle until the price returns and you will be able to exit the original trade with a profit.
- HOW TO CHOOSE A WORKING STRATEGY? HOW TO REDUCE RISKS? HOW MUCH CAN be EARNED USING the REVENUEBOT?
Below we have listed recommendations for the working strategy that is best suited when using RevenueBot, rules that must be followed to reduce risks, as well as possible earnings for trading with our bot.
1. Do not chase large profits by increasing the trading risks, using aggressive bot settings.
Our bot is more suitable for careful trading that does not require much time to monitor and track all processes. Use the "light" settings to get a small profit (0.2%-0.7% to the deposit per day), without great risk.
- Use price change overlapping (rate cover %) of 50% or more.
- Use a martingale percentage of 5% or more in the orders grid. This will allow receiving profit on smaller price bounces. The higher the martingale percentage, the less price bounce is needed to make a profit.
- Use profit percentage (profit %) of 0.5% to 1%. It is better to complete several cycles with a profit of 0.7% in a period of time than to spend the same amount of time waiting for the completion of one cycle with a profit of 1.5%.
2. Split the deposit into several parts to trade with several bots in different trading pairs.
- Part of the deposit can be allocated for trading the weighty and reliable cryptocurrencies. There will not be much profit, but there will be stability and an expected result.
- Part of the deposit can be allocated for trading the cryptocurrencies with potential. Even if the deposit allocated to the bot goes into such a coin, it will not create an absolutely bad result. It will be possible to turn the trade over (changing the algorithm of the bot to the opposite) and trade in the other direction, so that the deposit does not idle until the price returns in order to close the original trade with profit.
- Part of the deposit can be marked for trading with automatic switching of a trading pair based on the results of the volatility analyzer. In this case, the bot downtime will be minimal, since each new bot cycle will choose a trading pair that is profitable to trade, here and now.
3. Carefully choose trading pairs.
- Trade only those cryptocurrencies that you know or believe in.
- Do not trade the little-known, very cheap cryptocurrency (price <0.00000070 BTC) that are the subject to pumps/dumps, the price of which varies greatly and for a long time.
- Do not trade fiat currency. They are usually the subject to large and long price changes.
4. Always use filters to start the bot.
Using start filters will allow you to not start the bot cycle on the pump/dump (start buying too early and expensive or start selling too early and cheap).
For filters, various trading signals and indicators are used:
- RSI indicator. Reflects the relative strength of the trend.
- Indicator of trading volume for 24 hours. It is not recommended to trade a coin, if its trade volume over the past day is <500 BTC.
- RB indicator. Reflects the number of multidirectional price fluctuations for a certain period.
- Indicators of the pump/dump situations for certain periods.
- WHICH CRYPTO EXCHANGES are available for trading?
The following exchanges are currently available:
- Binance Futures
- What is the API key? What is it for?
To work with the exchange on behalf of your account, the bot uses the API key that you need to create in the exchange account settings menu. The API key consists of the actual public key and a secret token.
Important! API keys must be created that only include the possibility of trading, and do not include the possibility of withdrawing cryptocurrency from the exchange.
To add an API key to our system, go to the member zone, click the API Keys tab and enter the following parameters in the ADD NEW API KEY menu:
- Name of the API key. Choose a name for the key to make it easy to identify.
- Select the exchange in the drop-down list.
- Enter API key (public part).
- Enter the secret token for the key.
Use same API key for several bots on one exchange.
- WHAT IS A VIRTUAL WALLET FOR, AND HOW TO CREATE IT?
A virtual wallet is required for our bot to determine the deposit with which it will operate.
To create a virtual wallet, go to the member zone, open the Wallets tab, and enter the following parameters in the CREATE NEW WALLET menu:
- Wallet name. Choose a name for your wallet to make it easy to identify.
- Comments on the wallet, notes for your convenience. (Optional parameter).
- Select the exchange in the drop-down list.
- Select a cryptocurrency in the drop-down list.
- Enter the amount or percentage of the exchange account deposit. You can also check the online balance of the desired coin on the exchange by selecting the appropriate API key.
- How to recharge the balance of your RevenueBot account?
When you create your account, a BTC wallet is automatically created and connected to it. Account balance can be recharged in the Dashboard tab or on the profile page.
To do this, click on the Top-up balance link, then a window opens where you can copy or scan the QR code of the BTC wallet to which you need to make a transfer.
- How to create a bot?
You need to create a bot in the Bots tab and enter the following parameters in the CREATE NEW BOT menu:
- Bot name: Name of the bot.
- Exchange: Select the exchange from the drop-down list.
- Pair: Select a trading pair of cryptocurrency.
- API key: Select a previously created API key or create a new one.
- Depo: Select a previously created virtual wallet or create a new one. A virtual wallet determines deposit amount with which the bot will operate. For convenience, you can check the balance of the desired cryptocurrency on the online stock exchange.
- Commission: This information is relevant only for the Binance exchange, since it is possible to pay a commission in a third token that is not directly involved in current trading (BNB token).
To use the above mentioned type of commission, you need to activate it in the Binance exchange account menu. We always recommend using this type of trading commission payment on the Binance exchange, since it is cheaper. In addition, due to existing rules on rounding up the volume and price of orders on Binance, bot performance at Binance is possible only with a BNB commission.Just make sure that you have enough BNB in the account. Our bot can also do this by checking the BNB token balance before each launch. If there are less tokens than required, the bot does not launch and sends a notification to the user about the need to replenish the BNB token balance to start trading.
- Algo: Select the working algorithm to start the bot. After selecting the algorithm, the user is prompted to choose one of the bot settings templates: Light trade mode, Normal trade mode, or Extreme trade mode.
All fields in the settings section will be filled in automatically when you choose any of the suggested templates. You can skip this step and set each of the settings items yourself. Additionally, you can create your own templates.
Basic bot settings:
- Rate cover %: The percentage of the price change overlapping determined by what percentage the orders grid will cover the price change. In fact, this parameter sets by what percentage the last order in the grid will be removed from the current price.
- First order indent %: First order indent in %. Determines by what percentage the price of the first order in the grid will be less than the current price (for algorithm LONG) or more than the current price (for algorithm SHORT).
- Price rate to use: Select the rate on the exchange from which to calculate the orders grid. These can be BUY, SELL, AVG, or LAST. We recommend using the SELL rate for the LONG algorithm and the BUY rate for the SHORT algorithm.
- Orders matrix, martingale: Orders grid and martingale. By this setting, you can specify the number of orders in the grid and martingale (by what percentage each next order in the grid is larger in volume than the previous one). By clicking the view orders matrix, you can see the calculated orders grid.
- Profit %: This will set the percentage of the profit that will be preset by the bot when calculating the price of the order that will end the cycle (take-profit order).
- Profit coin: This setting is only available for the short algorithm. It specifies which of the trading coins will make the profit.
- Cycle up %:It happens that the bot has placed an orders grid, but the price has gone the other way. Now, you need to wait until the price returns, but the waiting time can be long.
Such events can be avoided by setting the orders grid actualization according to the current price. This parameter sets the percentage, which when reached, cancels the current orders grid and places a new one
- Sleep before cancelling orders for cycle up: This will set a delay, in minutes, before starting the cancellation of the current orders grid when the Cycle up setting is triggered.
This setting allows you to avoid frequent cancellations of the current orders grid when the price has changed and returned to the previous level in a very short time period.
You can wait some time and not need to waste the current orders grid.
- Sleep before cycle up after cancelling orders: This will set a delay, in minutes, before placing a new orders grid after cancelling the previous one.
This setting also allow you to avoid negative consequences in a situation where the price has changed and returned to the previous level in a very short time period.
- Sleep after end of cycle: This will set a delay, in minutes, before starting a new cycle after the completion of the current cycle.
- add revenue to depo: When making a profit, it can be added to the deposit that the bot uses, thus increasing the deposit.
If enabled, the entire profit earned by trading with the bot is credited to the virtual wallet that this bot uses.
- logarithmic scale for orders: Usually, the orders grid is calculated so that all orders in it are arranged linearly, with the same distance between each one over the entire price overlap.
With small price fluctuations, the first orders, the smallest ones in the grid, will most often be executed.
To involve more deposit in trading with small price fluctuations, you can use the logarithmic distribution, which will increase the density of orders near the current price and lower the density of orders that are more removed from the current price.
Order density can be configured in different ways for different situations by increasing or decreasing the logarithmic factor coefficient. For most cases, the appropriate value of logarithmic factor = 1.5.
By clicking the view orders matrix, you can see the calculated orders grid
- cost limit: Use this setting to avoid starting to buy when the price is too expensive or starting to sell when the price is too cheap. It sets the maximum price above which the bot will not start the cycle for the Long algorithm and the minimum price below which the bot will not start the cycle for the Short algorithm.
- fix first partial order with profit: It can happen when the first order in the grid was partially executed, but the price went the other way. This happens if the bot operates a large deposit and the orders in the grid are quite big, even the very first one.
In such a situation, the wait time for the price to return and the order to fully execute, so that the algorithm continues, can be long. By enabling this setting, you can set a percentage of profit for calculating a price, upon reaching which, we will receive a profit if we cancel the partially executed order and place the final cycle order for its amount. After all, the price went in the profitable direction; it is just that the order was too large.
Bot start filters
The bot start filters are needed in order to start trading at the right moment.
Filters include various trading signal indicators, volatility indicators, and trading volumes. To enable filters, check the "enable start filters" checkbox, then select the indicator and set its value. Below is a list of available trading indicators and indicators that can be used as filters:
- RSI indicator: this indicator reflects the strength of the trend, values range from 0 to 100.
If the value is more than 70, they say that the market is overbought; values less than 30 indicate an oversold market.
There are 4 time periods for the RSI indicator, each one can be used as filter:
- RSI indicator 3hours-5minutes
- RSI indicator 6hours-15minutes
- RSI indicator 24hours-1hour
- RSI indicator 48hours-2hour
- RB indicator: this indicator reflects the number of multidirectional price fluctuations of 0.5% over the last 1, 3, 6, or 24 hours in 1-minute intervals.
This is essentially an indicator of the trading pair volatility:
- RB 1hour-1minutes rate changes count
- RB 3hours-1minutes rate changes count
- RB 6hours-1minutes rate changes count
- RB 24hours-1minutes rate changes count
In addition to the number of fluctuations for the listed periods (1, 3, 6, and 24 hours), the values of the trade volume are shown:
- RB 1 hour trade volume
- RB 3 hours trade volume
- RB 6 hours trade volume
- RB 24 hours trade volume
Also, for the listed periods (1, 3, 6, and 24 hours), the values of the price change percentages are shown:
- RB 1 hour rate change %
- RB 3 hours rate change %
- RB 6 hours rate change %
- RB 24 hours rate change %
We always recommend using filters to start the bot.
Recommended filters for the long algorithm: To prevent situations when a bot starts buying too early and expensive, adjust an RSI filter setting its value to < 70
Recommended filters for the short algorithm: To prevent situations when a bot starts selling too early and cheap, adjust an RSI filter setting its value to > 30
- How to operate the bot?
All the statuses and states of the bot are described below in order for you to understand how it is operated:
- Status «Stopped» State «Normal»
The bot is inactive. This status and state are typical for the case when the bot has just been created.
- Status «Stopped» State «Waiting to start»
The bot stopped, it will be launched soon (maximum within 5 minutes). The bot has this status and state if the bot was made to stop, but has just been launched again.
- Status «Running» State «Normal»
The bot is operating. This state is typical for cases when the bot was launched, all the checks were passed, and the bot successfully started working. You can see the placed orders, work statistics.
- Status «Running» State «Waiting to stop»
The bot is active; it will stop at the end of the cycle. This bot state shows that the user stopped the bot. The bot is waiting for the cycle to end, and after that, it will stop.
- Status «Running» State «Paused»
The bot is paused. Such a state indicates that the active bot was paused by the user.
The bot is managed through the Trade Statistics tab, here you need to click its name in the output table of all created bots. The bot control menu will open and where the following information is shown:
- name of the bot
- current status and state
- current exchange rates for the trading pair being used by the bot with the information update option
- bot control buttons
Bot Control Buttons
- Start — Launch the bot
When clicked, the bot will switch to the “Waiting to start” state and will start the working process in the near future (maximum within 5 minutes).
- Stop — Stop running the bot
To stop the bot normally, you need to click the "Stop" button; the bot will go into the "Waiting to stop" state, waiting for the current cycle to complete, and then will move to the full stop state. Note that it may take some time for the bot to stop normally, since there can be orders executed in the bot’s current cycle and you need to wait for the take-profit order execution.
How to urgently stop the bot?
Let us consider urgent stop options for the bot:
Bot has placed an orders grid at the stock exchange and none of them were executed.
In this case, you can stop the bot without any consequences or losses. To stop the bot urgently, click the "Cancel orders" button, the order cancellation menu will open, and you need to check the "stop bot after operation" checkbox and the "Cancel orders" button. The bot will cancel all active orders on the exchange and will stop by marking the last cycle as "Cancelled".
The bot placed an orders grid at the stock exchange; there are executed orders, and a take-profit order was placed.
In this case, an urgent bot stop will result in a loss, since the bot operation algorithm will be disrupted. To stop the bot, you must cancel the remaining active orders on the exchange. Orders on the exchange can be canceled manually from the exchange account or using our bot interface.
User canceled active orders manually through the exchange.
We do not recommend interfering with the bot operation algorithm and manually performing any actions on the exchange with orders that the bot created. Such an intervention can lead to a bot error. If the bot active cycle orders were manually canceled on the stock exchange, then in order for the bot to forget about the current active cycle, you need to click the "Mark the last cycle as cancelled" button. The bot will mark the last active cycle as "Cancelled", and forget about it.
Mechanism for canceling orders on the stock exchange using our bot interface.
In order to cancel the orders of the bot’s active cycle, you need to click the "Cancel orders" button, the cancel orders menu will open, here you need to check the "stop bot after operation" checkbox and click the "Cancel orders" button. The bot will cancel all active orders on the stock exchange including the take-profit order and stop, marking the last cycle as "Cancelled".
- Pause — Suspend the bot algorithm.
The bot will stop tracking what is happening on the stock exchange, namely, it will stop placing new orders and cancelling active orders until the Running state is resumed.
- Edit — By clicking the Edit button, you move to the bot settings editing menu.
- Cancel Orders — By clicking the Cancel Orders button, you will force the bot to cancel all active orders.
- Re-set fix order — An option for re configuring the final order cycle (take-profit order) at a new price.
By clicking this button, a menu with the following information will open:
- the order’s current price,
- the coin’s current price on the exchange with the information update option,
- the price at which the cycle ends without profit and loss,
- calculator for pricing with the ability to indicate the desired profit, as a percentage.
- Mark last cycle as canceled — Used in abnormal situations, for example, when you performed any actions on the stock exchange manually or an error occurred with the bot performance.
This function allows you to mark the last cycle as cancelled without calculating the profit and changing the deposit.
- Status «Stopped» State «Normal»
- Bot statistics
The bot statistical information is available in the Trade Statistics tab. Here detailed statistics on the bot cycles, as well as the orders in each of the cycles is provided.
The bot statistics and statuses of working cycles:
- Cycle ID; by clicking it, we will move to the orders statistics of this cycle.
- The start and completion time of the cycle.
- Whether the cycle is "long" (if it lasts more than 24 hours).
- Selected trading pair.
- The number of orders in the grid, and how many of them have already been executed.
- The current price on the exchange / Price at which the bot is set to complete the cycle with 0% profit / Price at which the bot is set to complete the cycle with the desired % of the profit.
- The size of the deposit operated by the bot.
- Income in the main cryptocurrency.
- Income in the second coin.
- Total income in BTC.
- Active — Highlighted in blue.
Active working cycle with active orders on the exchange.
- Canceled — The cycle is cancelled.
Either the cancellation occurred due to adjustment of the orders grid to the current price on the stock exchange, or the user manually cancelled the active orders.
- Completed — Highlighted in green.
The cycle completed normally, the profit is received.
- Date and time of order creation/cancellation/completion.
- Type Buy/Sell.
- Trading pair.
- Sequence number in cycle.
- Volume of the first coin.
- Volume of the second coin.
- Current order status.
- Active — The order is active on the exchange. It is highlighted in light green (if it is the Buy type) or light red (if it is the Sell type).
- Canceled — The order is cancelled.
- Part canceled — The order has been partially executed. This happens when a large deposit is used and orders are of a big volume, or when there are rapid price changes on the exchange.
- Completed — The order has been completely executed. It is highlighted in dark green (if Buy type) or dark red (if Sell type).
For each of the bot’s working cycles, the following information is shown in the data table:
Orders in the cycle statistics:
By clicking the cycle number, you move to the detailed statistics on the orders of this cycle. The table of orders provides information on the entire orders grid in the selected cycle. You can view all the data for each of the orders:
- Volatility indicators
To get more income from trading with our bot, it is important to choose a suitable trading pair that has good volatility. To do this, we have calculated volatility indicators (RB indicators) for each of the trading pairs represented on crypto exchanges. The volatility indicator (RB indicator) is the number of multidirectional price fluctuations of 0.5% over the last 1, 3, 6, and 24 hours in 1-minute intervals.
In addition to a good volatility, it is important to understand the possible risks involved in trading. The RSI indicator can be considered as an important indicator for determining the risk of a trading pair. This indicator reflects the strength of the trend; the values range from 0 to 100.
If the value is higher than 70, then they say that the market is overbought, values lower than 30 indicate an oversold market. The defining indicator for assessing the trading risk and making the choice of a trading pair can be the trading volume for the last 24 hours and whether there was a pump/dump in the near past.
For a comprehensive assessment of a trading pair, we derived all the indicators described above in the summary table of volatility indicators:
- RB indicators for the last 1, 3, 6, and 24 hours are displayed in columns:
- rb 1h-1m
- rb 3h-1m
- rb 6h-1m
- rb 24h-1m
Also, the percentage by which the price increased or dropped over the selected period is indicated in the column cells. By setting the display in descending order of data in the required column, you can see which trading pairs are the most volatile for the selected period.
- RSI indicators for the last 3, 6, 24, and 48 hours are displayed in columns:
- rsi 3h-5m
- rsi 6h-15m
- rsi 24h-1h
- rsi 48h-2h
The trading volume over the last day for each of the trading pairs is shown in the 24h volume column.
Information on whether a pump/dump has occurred in the last 24 hours is shown in the Pump/Dump column.
Thus, you can always assess the volatility of your chosen trading pair and the trading risk, as well as choose another pair based on the calculated indicators.
- RB indicators for the last 1, 3, 6, and 24 hours are displayed in columns:
- Automatic switching of the trading pairs
The volatility of any cryptocurrency is not constant.
At some points in time, price fluctuations are frequent, and the bot makes many profitable deals; at other times – the price is stagnant and the bot is forced to idle.
In addition, the bot may become idle if the original trading pair does not fit the start filters. In order to eliminate the bot’s downtime, we have created an automatic switching between the trading pairs.
1. Automatic switching of trading pairs according to a given list.
How it works?
If the current trading pair does not fit the start filters, you can set a list of other pairs that the bot will cycle through until the one that fits the filters is found.
How to enable an automatic switch of the trading pair on a given list?
To enable this feature, you need to activate the "enable automatic switch of trading pair" menu in the bot settings. Next, in the "Switch type" menu, select the "User List" option and create a list by adding the desirable cryptocurrencies.
2. Automatic switch of trading pairs based on the results of the volatility analyzer.
How it works?
When launched, a bot can switch a current trading pair to another one, which has more suitable volatility indicators for successful trading at this moment. To estimate the volatility of a cryptocurrency, a volatility analyzer is used; it calculates the number of recent multidirectional price fluctuations. To switch, the bot chooses a cryptocurrency, whose price has fluctuated more times.
Volatility analysis will be carried out before each new cycle of the bot performance, so we will work with the trading pair that is best suited for trading, here and now.
It is important to choose not only the most volatile cryptocurrency, but also to exclude trade-risky cryptocurrencies. The risky ones include little-known cryptocurrencies, very cheap cryptocurrencies (with price < 0.00000050 BTC), and cryptocurrencies that are subject to pumps/dumps. It is also important to sift out cryptocurrencies with a small trading volume (daily trading volume < 300 BTC) over the past 24 hours.
All of the above-mentioned indicators of volatility and trading risks are configured in the volatility analyzer. The volatility analyzer is available both when creating and editing a bot, and also here https://app.revenuebot.io/office/#/tools/. You can test the volatility analyzer with diverse settings and evaluate the results in order to find the appropriate settings for a particular crypto exchange and market.
Create presets for the volatility analyzer settings to use them later in the automatic switching of trading pairs.
How to enable automatic switch of trading pair based on the volatility analyzer work?
To enable automatic switch of trading pair based on the volatility analyzer work, you need to activate the "enable automatic switch of trading pair" menu in the bot settings. Next, in the "Switch type" menu, select the "Volatility Analyzer" option; after that, the full settings menu for the volatility analyzer will be available, as well as the option to select a preset volatility analyzer settings template.
How to configure the volatility analyzer?
- Exchange — Select the exchange where you would like to evaluate the cryptocurrency volatility.
- Market — Select the market where you would like to evaluate the cryptocurrency volatility. This is a cryptocurrency for trading. These are usually major cryptocurrencies, such as BTC, ETH, and USDT.
- Use Black/White List — You can use Black and White Lists to set only verified cryptocurrencies for automatic switching or to exclude all the risky ones.
We recommend always using the blacklist to eliminate trading risks.
- Settings of Period, Interval, Rate change % — Volatility analysis will be carried out for the past period of time specified in the settings (Period :), divided into intervals (Interval :). The number of multidirectional fluctuations of the price of all cryptocurrencies on the selected market (Market :) at a specified percentage (Rate change % :) in each of the intervals (Interval :) for a specified period of time (Period :) will be calculated.
For example: for the relevant assessment of volatility and for choosing the most volatile trading pair, it is interesting to estimate how for the last 1 hour (Period :), divided into 1 minute intervals (Interval :), the prices for all cryptocurrencies on the stock exchange on the selected market (Market :) changed. The oscillation will count if the price has changed in the opposite direction by 0.5% (Rate change % :). Since a period of 1 hour is set (Period :) and intervals are every 1 minute (Interval :), the analyzer will sequentially analyze each of the 60 intervals in the last hour for each of the trading pairs on the selected market (Market :). If in any of the analyzed intervals a 0.5% price change in the opposite direction is recorded, then the price fluctuation will be attributed to the current trading pair.
Recommended periods (Period :) and intervals (Interval :) for estimating volatility:
- last 15 minutes at 1 minute intervals
- last 30 minutes at 1 minute intervals
- last 1 hour at 1 minute intervals
- last 3 hours at 1 minute intervals
- last 6 hours at 1 minute intervals
- last 12 hours at 5 minute intervals
- last 24 hours at 5 minute intervals
We do not recommend evaluating volatility for periods > 48 hours, since the results will not be informative for assessing relevant volatility. As a percentage of price change (Rate change % :) we recommend using values 0.3% to 1%.
- Min rate change count — This setting determines the minimum number of fixed price fluctuations for selecting a trading pair during automatic switching. When setting this option, consider the period specified above (Period :) and the percentage of price change (Rate change % :).
For example, if the minimum number of price fluctuations is set to 3, then only those cryptocurrencies with at least 3 registered price fluctuations for a given period of time will be suitable for the automatic switch of a trading pair.
We recommend using the values of 3, 5 and 10 price fluctuations.
Important: Choose the settings (Period, Interval, Min rate change count) so that there are enough intervals in the time period for an informative volatility assessment. There must be at least 15-30 intervals in the time period. A small number of intervals in a period, for example, an estimation of a 15 minute period divided into 5 minute intervals, may not give results, since only 3 time intervals will be evaluated, during which the preferred number of price fluctuations will not occur.
- Min trade volume — This parameter determines the minimum trading volume (in the last 24 hours) to select a trading pair if automatic switching is enabled. Trading volume is calculated in the currency of the selected above market (Market :).
The larger the trading volume, the safer the trade. We recommend using the trading volume equivalent to a minimum of 300 BTC (12000ETH, 1,000,000 USD).
- Pump/Dump filters — With this setting you can set a check to see if a pump/dump occurred in order to eliminate risky trading pairs in cases where the automatic switching feature is enabled. For a more accurate assessment, you can specify several filter checks. In each of the filters, you must specify the estimated time period (Period (hours) :), as well as the strength of the pump/dump (Rate change% :).
For example, a filter (15 minutes - 10%) will not allow switching to a trading pair, the price of which has changed by 10% in the last 15 minutes.
After adjusting the volatility analyzer, save the bot by clicking the CREATE NEW BOT button if you are creating a new bot, or the UPDATE BOT button if you are editing a previously created bot. Upon further launch of the bot, the result of the volatility analyzer testing with the set configuration will be used for choosing the new trading pair.
Additionally, if you want to see the results of the configured volatility analyzer, you need to click the RUN ANALYZER button; the analysis may take 1-2 minutes, and then, the results will be displayed.
The results of the volatility analyzer will be a list of trading pairs for which the most number of fluctuations were registered in the recent period.
In case you have several bots running with automatic switching of a trading pair enabled and you want each of them to trade a unique one, use the "use only unique trade pair" setting. This uniqueness setting applies only to bots with automatic switching between the trading pairs.
- Automatic algorithm flipping
What is automatic algorithm flipping and what is it required for?
Based on certain conditions, the bot is able to stop the active work cycle, cancel all active orders, including take-profit, and afterwards transfer the earned deposit to another bot’s wallet (with an opposite algorithm) and enable it.
Automatic algorithm flipping may be useful in case of aggressive strategy of trading reliable coins, as well as to avoid keeping the bot’s deposit idle while waiting for a suitable exchange price. Besides that, current mechanism can be useful for reduction of possible losses in case when bot has “Investor” role, i.e. when all network orders are complete and the price has continued dropping from the price of take-profit order.
Example of application of automatic algorithm flipping
For example, let’s have a look at the initial deposit in BTC and trading pair ETH-BTC with algorithm LONG (ETH will be purchased with BTC when ETH price drops). ETH is a big and reliable coin with big capitalization, trading volumes etc. Based on that, it is possible to suppose that in case of initial BTC deposit, there is nothing to worry about if while trading in LONG algorithm, it will temporarily move to ETH. Hereby, it is possible to set very aggressive trading settings for such trading pair (small percentage of price change overlay) in order to earn more profit. However, aggressive trading settings can cause execution of all network orders. In this case, it is possible to flip the algorithm to another side in order to avoid waiting for price to return and deposit remaining idle, while sales continue and the profit is earned. It means that LONG both in ETH-BTC pair should be stopped and its deposit transferred to SHORT bot within the same trading pair (EHT will be sold in BTC if ETH price keeps growing). In this situation, when flipping the algorithm, it is important to set less aggressive settings for the new bot, which will allow you to make profit once all the network orders are complete.
How to enable automatic algorithm flipping and what is required for that?
In order to flip algorithm, it is necessary to create bind two bots together. The bundle consists of a primary both, which will work initially, as well as a bot that is assigned to it for flipping. Both bots have to be created for the same exchange and trading pair. Bots’ algorithms should be opposite.
Total wallet amount of primary both should correspond to the initial deposit inside exchange account.
Total wallet amount of the bot for flipping will be automatically set once flipping mechanism is activated (the flipping bot receives the deposit from the current bot’s performance).
It is worth pointing out that inside the flipping bot’s settings it is also possible to appoint another flipping bot and it can be a primary bot as well. Likewise, it is possible to create a circular flipping between two bots or create a chain of bots for algorithm flipping.
In order to enable the automatic algorithm flipping, it is necessary to activate “Enable automatic algorithm flipping” checkbox inside bot’s settings and select the bot, which will be activated once flipping mechanism is triggered.
What are the conditions of automatic algorithm flipping triggering and how to set them?
By default, automatic algorithm flipping of a bot is triggered once all network orders are complete, but it is also possible to set other triggering conditions of this mechanism.
1. All network orders are complete, but the price continued dropping from the last order’s price by the percentage amount specified in settings.
In this case, the tracking or further price variation begins after all the network orders are complete.
- In case of initial LONG algorithm, if the entire network of safety orders is complete and the price continues dropping from the last order’s price in network by the necessary percentage amount, then the current cycle’s take-profit order should be cancelled and the remaining deposit from this order transferred to SHORT bot, which was appointed for flipping and then launch it. Likewise, trading continues in reverse direction.
- In case of initial SHORT algorithm, if the entire network of safety orders is complete and the price continues increasing from the last order’s price in network by the necessary percentage amount, then the current cycle’s take-profit order should be cancelled and the remaining deposit from this order transferred to LONG bot, which was appointed for flipping and then launch it. Likewise, trading continues in reverse direction.
Current condition of triggering the automatic algorithm flipping is enabled inside the bot’s settings, notably inside filters for bot activation. The name of filter for bot activation is "Algorithm flipping: The last order & % of price variation are complete".
2. The price has changed by the specified percentage amount from the first order’s price in network.
In this case the amount of completed orders inside the network does not matter. Once the current price of necessary percentage from the first order’s price in network is deleted, all active orders of the cycle will be cancelled and algorithm will be flipped.
- oIn case of initial LONG algorithm, if the price has dropped from the first order’s price inside the network by the necessary percentage amount, then all active orders of current cycle should be cancelled including take-profit order and the remaining deposit from this order transferred to SHORT bot, which was appointed for flipping and then bot should be launched. Likewise, trading continues in reverse direction.
- In case of initial SHORT algorithm, if the price has increased from the first order’s price inside the network by the necessary percentage amount, then all active orders of current cycle should be cancelled including take-profit order and the remaining deposit from this order transferred to LONG bot, which was appointed for flipping and then bot should be launched. Likewise, trading continues in reverse direction.
Current condition of triggering the automatic algorithm flipping is enabled inside the bot’s settings, notably inside filters for bot activation. The name of filter for bot activation is "Algorithm flipping: % of price variation".
3. The bot’s cycle functioning duration lasts longer than specified time.
It is possible to set the time (in hours) after which, if there are still uncompleted orders inside the active bot’s functioning cycle and take-profit order is set, then algorithm will be flipped. The time is calculated from the moment when cycle begins.
Current condition of triggering the automatic algorithm flipping is enabled inside the bot’s settings, notably inside filters for bot activation. The name of filter for bot activation is "Algorithm flipping: Cycle functioning duration in hours".
4. The bot’s cycle functioning duration lasts longer than specified time after the locking order (take-profit) is set.
It is possible to set the time (in hours) after which, if there are still completed orders inside the active bot’s functioning cycle and take-profit order is set, then algorithm will be flipped. The time is calculated from the moment when locking order (take-profit) is set.
Current condition of triggering the automatic algorithm flipping is enabled inside the bot’s settings, notably inside filters for bot activation. The name of filter for bot activation is "Algorithm flipping: Cycle functioning duration in hours from the moment the locking order is set".
5. Wallet generation settings of a bot for flipping.
In case of algorithm flipping, the wallet amount of a flipped bot is calculated. By default it consists of the deposit accumulated from the orders completed by the primary bot, and then increased by the deposit amount of flipped bot, which remains from the previous algorithm flipping, if any. When this filter is activated, the bot’s deposit amount remaining from the previous algorithm flipping will not be included in these calculations. In order to enable this filter, it is required to set its value as == 1.
Current condition of triggering the automatic algorithm flipping is enabled inside the bot’s settings, notably inside filters for bot activation. The name of filter for bot activation is "Algorithm flipping: Do not use the deposit remainder from the previous flipping".
- The RevenueBot active state simulation mode (backtests)
To earn more profits and reduce the trading risk when running a RevenueBot, it is important to set the right bot settings. To do that, we made a bot active state simulation mode, so that you can review how the bot has been trading over the past 60 days with any of the trading pairs. Try different bot settings and see how it performed on real price change charts in the past 60 days, with a virtual deposit.
Creating a bot in a simulation mode.
To enable the bot simulation mode, you need to check the "simulate bot behavior" checkbox when creating/editing a bot, otherwise creating a simulation mode bot does not differ from creating a regular bot. For your convenience, a bot with simulation mode enabled is marked with a different background in the table of bots.
Managing the bot in a simulation mode.
Launching a simulation mode bot is done in the same way as launching a regular bot.
It is impossible to stop a running bot in simulation mode, it will stop when the simulation is complete (all data for the past 60 days has been processed).
The simulation mode bot working statistics.
Statistics of the simulation mode bot is available in the same place as the statistics of the regular bot. Click the name of the bot you want to examine in the Trade Statistics menu to open the bot working statistics by cycles.
Important: The correct period should be set here for displaying the bot working statistics (last 60 days).
Also, note that the complete processing of the bot activity simulation for the past 60 days usually takes 5 to 15 minutes. If the automatic switch of the trading pair based on the results of the volatility analyzer is enabled for the bot, the complete simulation processing can take up to 1 hour.
While data for the past 60 days is still processing, the simulation mode bot will be indicated as "status: Running", "state: Simulate". It is not necessary to wait for the end of the simulation to see the results of the simulation mode.
The first completed cycles will appear sometime after the launch; the list of cycles will be updated as data processing continues.
If the bot has moved to "status: Stopped", "state: Normal", then all data has been processed and you can fully evaluate how the bot performs in simulation mode. All cycles that a bot would have completed are available for review.
The bot working cycles that lasted more than a day are marked with a "Yes" value in the "Long Cycle" column, which allows you to see the bot downtime and adjust the settings so that the bot can trade more efficiently.
Thus, by selecting diverse settings and running them on real charts of the past, you can choose the optimal settings for real time bot operation.
It should be noted that the results of the simulation mode bot may be inaccurate and differ from the real bot performance, because:
- the moment of the launch time is of great importance.
- various settings for bot delays do not work in simulation mode.
- Referral program of the RevenueBot
You can make good money simply by recommending RevenueBOT to your friends, acquaintances, visitors, or subscribers.
We offer you 30% of earnings received from the users referred by you.
The maximum user fee for using the RevenueBot bot is 50 USD per month in BTC equivalent. Accordingly, your maximum earnings from one referral will be 15 USD per month in BTC equivalent.
How it works?
- Log in to your account and click on the Referral Program link in the top menu.
- Choose the appropriate advertising format: link/slogan/banner.
- Use personal recommendations and promotion through the Internet: websites, forums, social networks, newsletters, and other tools.
- After registration, the client will be assigned to you. The system calculates the reward automatically.
- Get a reward of 30% of our commission from all profitable trader’s transactions. Withdraw funds upon accumulation or use the balance to pay for your own bots.
- Payment of the referral reward to the Affiliate (referrer, webmaster - this is the name of the user who attracts referrals) is made upon request in the administrative panel of the website.
- Payment is performed only in BTC.
- The minimum payout amount is 0.003 BTC.