Sometimes indicators are not a signal to buy or sell, but a signal to prepare for something. And that something can be a price increase for just a few seconds and then a return to normal.
As you can see on the chart below, the price rose quickly to ~10400 USDT but then quickly dropped to ~9200.
This is called the wick of the candle, this wick can last less than 3 seconds, and it's quite difficult to profit from it if you don't have orders placed in advance.
The old price triggers did not allow you to "catch" this wick because it was sometimes too fast to place an order in time.
With the addition of the "specified price" option on buy and sell blocks, you can now specify a price at which the order will be placed, either with a fixed price (e.g. BTC at $10,000) or with a percentage spread (e.g. "sell at current price + 10%"). The order will thus be placed instantly instead of waiting for the price to reach your target price.
How it works :
The buy and sell blocks work as usual, there is just a new option when you select Limit order. This new option is Choose a price.
When you select it, you are presented with two new fields:
- Custom price, which means you will enter a specific price like 9473 USDT for example. And every time your strategy meets your buy or sell block, an order at 9473USDT will be placed.
nb: It's better to use this option on a strategy that won't loop, because specific prices are not really reliable when it comes to reusing them. - Deviation, which means that you will set a percentage at which the order will be placed. For example, if the price is 10000USDT at the moment your strategy reaches the sell block and you choose to sell with the 10% deviation option, an order will be created at 11000USDT.
IMPORTANT NOTES:
Keep in mind that with this option the order will be placed instantly by Kryll. If you want to cancel the order after a certain amount of time, use the advanced mode to set a timeout.
Some exchanges like Binance prevent you from placing orders that are too high (sells BTC at $1M) or too low (buys BTC at $10), Kryll will send you an error in this case.
Happy trading!
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