How to use RSI Trading Bot

Saturn RSI Trading bot will monitor a token's Relative Strength Index, allowing you to automate your crypto trading following RSI signals. Set up your oversold or overbought conditions in the configuration file, and you are ready to go!

Here is an overview article on why understanding RSI is an important analytical tool to bring into your crypto trading strategy, and also explains what RSI values mean and how they work. If you do not know what RSI is, then this article is must read before trying to launch the trading bot.

How does the RSI indicator work for crypto trading?
Here we learn about Relative Strength Index and how RSI signals can help you form crypto trading strategies. Also an indicator we will be automating for you!

You can find our RSI trading bot's source code on our Github.

saturn-network/simple-rsi-trading-bot
Watch RSI of given token on Saturn Network and auto buy/sell - saturn-network/simple-rsi-trading-bot

Table of Contents

  1. Before launching your RSI trading bot
  2. How to run RSI trading bot

Before launching your RSI bot

  1. You need to install node.js for our RSI crypto trading bot to run, also we recommend you install Hyper. You can follow the guide below to learn how to install node.js on your OS.
How to install Node.js | Saturn Crypto Learning
Here we will go through how to install necessary JavaScript runtimes to use our tools and trading bots. Learn how to install node.js on Windows, Linux and macOS.
  1. Create a new wallet address to use only with your trading bot, you can name your new wallet address appropriately in Saturn Wallet so easily know which wallet is being used by your trading bot & track your balances.

rsi-1

  1. Send the funds you are going to use to your new account, as always you will need coin to pay for Gas fees also.

  2. Export your new wallet's private key as you will need it when you launch your trading bot.

  3. RSI Trading bot is unable to submit an ERC20 Approve transaction. If you wish to use it to monitor an ERC20 token market, then first proceed to make one manual trade with your wallet to complete the ERC20 Approve transaction for the token.

ERC20 Approve Explained
Here we explain what is an ERC20 Approve transaction, and provide an overview of how it is displayed on Saturn Network when trading ERC20 tokens.

How to run RSI Trading bot

  1. Once you have node.js installed, run the following command in Hyper: npx @saturnnetwork/simple-rsi-trading-bot -h it should return the following if you have everything set up correctly:

rsi-2

  1. The .JSON file is the important part where you set up your RSI trading bot configuration so open up your favourite text editor. Here is an example:
{
  "global": {
    "min_ether_in_wallet": "0.1"
  },
  "tokens": [
    {
      "token": "0xac55641cbb734bdf6510d1bbd62e240c2409040f",
      "blockchain": "ETC",
      "rsi_sell": 55.5,
      "rsi_buy": 47
    },
    {
      "token": "0xb9440022a095343b440d590fcd2d7a3794bd76c8",
      "blockchain": "ETH",
      "rsi_sell": 52,
      "rsi_buy": 48
    }
  ]
}

Here is a breakdown of what each parameter in the configuration file means:

global

  • min_ether_in_wallet - the bot will make sure that you keep at least this much ETH or ETC in your trading wallet (for gas fees and HODLing)

tokens

  • token - token's smart contract address.
  • blockchain - token's blockchain.
  • rsi_sell - if RSI is higher than this number (token overbought) then the bot will attempt to market sell all the tokens in the wallet.
  • rsi_buy - if RSI is lower than this number (token oversold) then the bot will attempt to market buy as many tokens as it can.
  1. Once you are happy with your configuration file, make sure you save it as a .json file with a filepath you can easily find on your system or server. This is where you will need your wallet’s private key you exported earlier. In Hyper type the following command:
npx @saturnnetwork/simple-rsi-trading-bot -p YOUR_PRIVATE_KEY_HERE -j 'C:\Example\myfirsttradingbot.json'

Note that for your .json filepath, you may not need any brackets ' or your system may need " brackets. If pricewatch bot cannot find your .json file it will display a message couldn't get the module .

If you prefer, you can launch the bot using your 12 word seed phrase but you will need to know your wallet’s ID (if it is Account 1, Account 2 or Account 3) in Saturn Wallet and if you have many accounts already well you have probably lost track. Here is an example of how to do this:

npx @saturnnetwork/simple-rsi-trading-bot -m "radar blur cabbage chef fix engine embark joy scheme fiction master release" -i 4 -j 'C:\Example\myfirsttradingbot.json'

You use the -i to set your account ID, in the example above I would be using Account 4 by default it is set to 2 so if you leave it blank it will use Account 2 in Saturn Wallet.

  1. If you launched everything correctly, then you should be greeted with a terminal that looks something like so:

rsi-3

All done! Happy trading!

That was an easy and quick tutorial to get you started with RSI Trading bot. If you find any issues or have any bug reports, please report them here. Do remember that crypto trading bots work best when they have no downtime, the best results will be achieved by running your trading bot on a VPS or Raspberry Pi.

Setting Up An Orange Pi For Crypto Trading Bots
Here we have a complete tutorial for setting up your Orange Pi Zero W to run crypto trading bots. Beginner Friendly!
Best VPS Providers for Crypto Trading Bots
Here we take a look at the best VPS providers for crypto trading bots, ensuring your trading bot runs reliably with zero downtime.

If you would like to discuss crypto trading bots please join our Reddit or alternatively feel free to reach out via email.

[email protected]

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