Setup Guide

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.
You will need to do this within MadHatter's fullscreen mode.