Setup guide for the MadHatter Bot
- Find a pair with decent movement on the 5-minute chart. It doesn't matter which direction, but it needs to hit the upper and lower Bband.
- Find the average order book size for the pair you selected
- Input the order size into MadHatter
- Configure the Bband settings to touch the top and bottom bands. You want multiple touches but don't want to be too constricted.
- Start backtesting to ensure that the Bband settings are adjusted to your liking.
- Configure the minimum price movement. A good method to use for finding the appropriate setting is to look at the movement in the 5-minute graph.
- Backtest to ensure that it works.
- Configure the Stop loss by deciding how much you are willing to risk if a trade goes bad (Generally you have to give some wiggle room for price movement)
- Backtest to verify your stop loss settings. Giving MadHatter the ability to follow movements in both up and down trends requires a few more steps.
- Configure your MACD settings and align with your buy and sell points. ( There is a video on how to trade MadHatter's strategy manually)
- Use the RSI settings to add an extra indicator.
- Decide if "MadHatter Mode" (To be released) is viable by switching it on and seeing if results improve.