When you bought TrendMaster you've probably seen market scanning bots being mentioned. But what are they and how does it work? The first thing you will need to do to make the most of these bots is join our Discord. When you signed up you probably already did that and depending on the package you purchased you will see a variety of bots. These are the current Premium package market scanning bots:
By now you've probably learned about TrendMaster and what conditions lead to a buy or sell order being placed. Because it can become quite a time intensive process to manually check each coin on the supported exchanges for a signal we've decided to automate the process. Our market scanning bots run every 4 hours, 1 day and 1 week and use the exchange APIs to check whether or not a TrendMaster signal has formed. If it has, it will report this in the appropriate channel.
Each signal has a link in it that immediately takes you to that specific coin on the exchange. Another link to open the chart on the correct timeframe in TradingView is also included. As the screenshot shows there are two visually distinct signals given.
A bold signal indicates a signal that is preceded by an invalidated signal. This means that a start of trend (or end when it's a red signal) is likely. A signal that isn't bold can be treated as a trend continuation signal, meaning that the trend has already been going on for a longer period of time. This distinction is also visualised in the indicator by the Signal Style setting.
Additionally each signal reports the Range of the candle. This is the distance from the bottom to the top of the candle (or vice versa for red signals), indicating how impulsive the move that triggered the signal is. Generally the higher this value the lower your risk/reward will be. We also include Volume as a component in the signal. This show the volume for that specific candle in its quote currency.