Please welcome one of the most requested and awaited tools on 3Commas: Safety orders triggered by technical indicators!
This is astonishing—users can now activate the “Safety orders condition” and choose one or several indicators to trigger it! The Safety orders settings will function as filters, with the minimum deviation percentage and specific conditions or webhook signals.
General logic:
Safety orders will not be placed in advance at the configured price. Instead, the deviation settings for setting belays will serve as “minimum deviation” filters. When additional conditions are met, all safety orders that meet the minimum deviation conditions will be executed at the market price.
For example, we have set the “Price Deviation to Open Safety Orders” to 1%, the “Safety Order Volume Scale” to 1, and the “Safety Order Step Scale” to 1 as well. This means the bot will not increase the Price Deviation percentage for safety orders, and the volume will remain at 15 USDT per safety order. To use our new feature, let’s also activate the “Safety orders condition” and add two RSI conditions. For instance, if we have an active deal and the price drops by more than 3%, and we receive a signal to add additional safety orders, the bot will add 45 USDT as the safety order volume, because all safety orders that meet the minimum deviation conditions will be executed at the market price.
Here is how to enable the technical conditions for Safety orders:
1. Enable Safety orders condition
In the Safety orders section of the settings page switch the toggle to green for Safety orders condition:
2. Choose the indicator
3. Adjust the settings
All technical indicators and their settings are described in this article:
To set up the TradingView custom signal, head to this article:
How to use TradingView custom signals.
There is a dedicated message to trigger the Safety order based on the signal from TradingView.
Safety order conditions work exactly the same way as the deal start or deal close conditions.
4. Add more indicators
You can add more indicators if you want to make signal filtering more precise!
If you add two or more indicators, they will work with AND logic - this means that ALL of the conditions must meet in order to send the signal.
Some notes about Safety order conditions
1. Safety orders triggered by conditions are executed at the market price.
2. As you can see, the "Max active safety order count" parameter is disabled. It's obvious, as per the previous statement, the Safety orders are executed at the market price immediately, so they cannot be placed beforehand as limit orders.
3. When the executed Safety orders count will reach the number in "Max safety orders count" parameter, all further signals will be ignored.
4. The value in the "Price deviation to open safety orders" parameter will filter the first Safety order signal. If the signal came and the deviation is smaller than it was set, the signal will be ignored. Next Safety order signals will be filtered by the "Safety order volume scale" and the "Safety order step scale".
5. In the near future, we will add more cool features to the Safety orders. Stay tuned!
FAQ
I use a bot with 4 Safety orders triggered by a condition. The price deviation to open safety orders is 1, and the Safety order step scale is 1. What will happen if the price drops to, say, 10% and then the signal to place a Safety order arrives?
As soon as the conditions for all 4 Safety orders are met (1% deviation per each Safety order makes it a 4% deviation for the last Safety order), they will be executed all at once at the market price. The same will happen if the signal to trigger the Safety order arrives when the current price of the signal is lower than the price of the last possible Safety order.
I use a bot with 4 Safety orders triggered by a condition. The price deviation to open safety orders is 1, and the Safety order step scale is 1. What will happen if the signal to trigger the Safety order arrives when the current price is between 2nd and 3rd Safety order?
In this case, 2 Safety orders will be instantly executed at the market price and the remaining 2 Safety orders will wait for the future signal.