What does it take to build your own HODL bot? - Just a cup of hot tea and ChatGPT. And what's needed to launch a HODL bot on your exchange? - Simple: just the 3Commas DCA bot and TradingView Custom Signal.
How it works
This strategy is designed for long-term investments. It follows the conventional DCA (Dollar Cost Averaging) investment strategy.
The strategy is to keep buying equal shares of an asset at regular intervals, regardless of the asset's current price.
Investing this way does not require a big sum as a one-time payment, and an increase in the value of an asset will bring profit over time.
How to set up
1. Create 3Commas HODL DCA BOT for your preferred exchange and trading pair:
Disable safety orders (set safety orders count to 0).
Disable Take profit (Set a 999% Take Profit and activate Trailing Take Profit).
Manually initiate the first trade.
Copy the "Message for deal add funds signal" from your bot's page.
2. Link the HODL DCA Strategy to your DCA bot via webhook signal:
Open your Tradingview account.
Find this private strategy link https://www.tradingview.com/script/NDNNTmd0-3Commas-HODL-DCA-Strategy/
Add the script to your favourite indicators.
Open chart of desired trading pair and apply the strategy indicator.
Set the Start date and Finish date for strategy trading — the strategy will buy on every bar close after Start date.
The chart's timeframe will control the frequency of purchases. For instance, on the daily timeframe, the bot will buy every day, while on the weekly timeframe, it will buy every week.
3. Set up an alert on Tradngview website:
Press the create alert button
Switch alert condition to 3Commas HODL DCA.
Paste your "Message for deal add funds signal" into the alert message field.
Specify the amount coins of quoe or base (depending on selected message type) directly in the message by editing volume parameter "volume": 10
Insert 3Commas webhook address https://3commas.io/trade_signal/trading_view Please note that this link wont open in any browser, only Tradingview server able to reach it.
Please note that in this article I describe integration only for add funds signal and leaving the option to exit your strategy by manually closing your DCA bot deal. If you want to exit your strategy on Finish date then you will need to set up another alert for “Message to close all deals at Market Price and stop bot”
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