Scavenger Bot
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# Bot Settings

## GENERAL SETTINGS

Clicking the “Cog Wheel” button will open up the settings configured for the strategy you selected. You can tweak these settings at any time.

### BOT NAME

Use this field to name your bot.

### CONTRACT SIZE

Auto
If set to auto the number of contracts per trade will be based on the following formula below. This number will automatically be adjusted to the exchange minimum if order size is not large enough. If set to manual the bot will buy the number of contracts that you set here.
$(Balance * Ticker * Contract Size Percent / Leverage)$
Manual
If set to manual the bot will buy the number of contracts that you set here.

### ENABLE MAX POSITION SIZE

Specify the maximum position size that the bot will purchase before it stops adding to the position. This will be based off the following formula:
$(Used Margin/Total Margin)$
MAX POSITION SIZE
This is the percent of your leveraged balance that you would like to use in total.
$(Balance * Ticker * Leverage * Max Position Size Percent)$

### STOP LOSS

ENABLE STOP LOSS
Toggle this to Enable/Disable the bot from using a stop loss. Stop Loss will close your position if price moves against your average entry more than this setting in percent.

### TAKE PROFIT

ENABLE TAKE PROFIT
Toggle this to enable Take Profit in %
ENABLE TRAILING TAKE PROFIT
This is a Take Profit order that is placed when the bot is in profit. The order will be placed a percentage away from the last traded price.

### DOLLAR COST AVERAGE

Dollar-cost averaging (DCA) is an investment strategy in which an investor divides up the total amount to be invested across periodic purchases of a target asset in an effort to reduce the impact of volatility on the overall purchase. The purchases occur regardless of the asset's price and at regular intervals; in effect, this strategy removes much of the detailed work of attempting to time the market in order to make purchases of equities at the best prices. Dollar-cost averaging is also known as the constant dollar plan.
ENABLE DCA
Toggle this to Enable/Disable Dollar Cost Averaging (DCA).
DCA PROTECTION
DCA Protection prevents the bot from dollar cost averaging against a position that is already in profit. This should be enabled unless you are wanting to build a position regardless of profit.

### ENTRY PROTECTION

ENABLE ENTRY PROTECTION
Entry Protection uses Stoch RSI in an attempt to avoid entering a position during times of extreme oversold and overbought market conditions.
OVERBOUGHT
If Stoch RSI D value is higher than the OVERBOUGHT value, the bot will wait before taking a new Long position.
OVERSOLD
If Stoch RSI D value is lower than the OVERSOLD value, the bot will wait before taking a new Short position.
CANDLE INTERVAL
Choose the candle interval you would like to use to chart Stoch RSI here.
Available Timeframes: 1M, 5M, 15M, 30M, 1H, 4H
PREVENT ENTRY
This can be used to stop the bot from opening any new positions. All of the other functions of the bot will still work, but it will just never open a new position unless you do that on the exchange manually or via other API methods.

### MARKET CHANGE PROTECTION

ENABLE MARKET PROTECTION
Market Protection looks at the current price versus the previous close of the selected interval in an attempt to not grow a position during times of high volatility.
MAX PERCENT CHANGE
This is the maximum percentage of market movement allowed before temporarily halting trading.
Candle Interval
Choose the candle interval you would like to use to chart Market Change Protection.
Available Timeframes: 1M, 5M, 15M, 30M, 1H, 4H

### SMART CHANNEL PROTECTION

ENABLE SMART CHANNEL
Smart Channel Protection is used to avoid building a position during times of low volatility by forming a channel around your entry price.
CHANNEL CONTRACT LIMIT
This is the percent of your leveraged balance that you would like to use before smart channel becomes active.
$(Balance * Ticker * Leverage * Channel Contract Limit Percent)$
CHANNEL BOUNDARY
When the channel is active the order price will be adjusted to the ticker plus/minus this value depending on bot type.
CANDLE INTERVAL
Choose the candle interval you would like to use to create the smart channel.
Available Timeframes: 1M, 5M, 15M, 30 M, 1H, 4H