📈How to tune the settings
Learn how to tune Crypto Punk [Bot] settings.
Timeframe (important to understand)
Let's start to explain the Custom Timeframe option since it has an important role on the calculations.
Crypto Punk uses a higher timeframe for its calculations. By default, the Entry and Exit timeframes are unticked which means that the Bot uses pre-defined higher timeframes.
Entry Timeframe
If you enable the Entry timeframe the Bot will use the timeframe that you select in the list. Make sure to select a timeframe that is significantly higher than the one you have on the chart.
Let say you load the Bot on the 5 min timeframe, and you enable Entry Timeframe and set it to 10 minutes. The Bot will now take tons of entires since the higher timeframe is not significantly higher than the one you have on the chart. Make sure to use a higher timeframe above 30 minutes or so. You can't use a higher timeframe that is too close to the one that you have on the chart.
Exit Timeframe
If you enable the Exit timeframe the Bot will use the timeframe that you select in the list. However, when using the Exit timeframe it's not necessary to use a significantly higher timeframe than you have on the chart. It depends on if you use the Price Action filter or not. (Explained below, under Aggressive Exit).
Let say you load the Bot on the 1-hour timeframe, and you enable Exit Timeframe and set it to 30 minutes. The Bot will now exit all trades based on a lower timeframe. This way of setting the Exit timeframe without using any Price Action filter is not recommended.
So in general, use a timeframe that is higher than the one you have on the chart.
Entry/Exit or Both.
You can enable the Entry timeframe and leave the Exit timeframe to default, or you can enable the Exit timeframe and leave the Entry timeframe to default. Or you can enable both of them and play around with the timeframes to see what generates the best backtest.
Entry Direction [Long/Short/Both]
Crypto Punk uses higher timeframes as one of the sources for entry/exit, this can cause some "issues if you intend to take both Long and Short trades. Read under "Both" blow to understand how it works.
Long Only - The Bot takes Long Trades Only.
Short Only - The Bot takes Short Trades Only.
BOTH - The Bot takes Long and Short Trades. --> ONLY IF:
1) The Entry and Exit Timeframe is different. 2) Stop loss is enabled.
--> If the Entry and Exit Timeframe is the same and the Stop Loss is not enabled, the option "BOTH" will not work since we can't execute 2 different orders in the same bar. (The Bot will then execute Long Only or Short Only depending on the trend in the higher timeframe.)
Price Action Filter
This filter can really take the Crypto Punk Bot to the next level. The Price Action Filter forces the Bot to find contrarian entries and exits that really can enhance the overall performance of the Bot.
Price Action Filter Entry
Do always start to only enable this at first and adjust the Price Action Filter to see what happens. It is not always necessary to use both Entry and Exit filters at the same time, often it's sufficient to only use the Entry filter. That is why we recommend starting playing around with this option first.
Price Action Value: We recommend trying values up to 20. A high value returns more significant price actions. (Fewer signals). A low value returns more of the shorter term price action, hence you get more signals.
Price Action Filter Exit
The Exit filter can be seen as a trend filter. If you enable this filter and set the Price Action Value to 20 you will notice that the Bot aims to exit after a big move. A low value will give more trades where the Bot aims to exit quicker.
Confirmation Value
This value should in most cases be left to default. (value 0).
However, it may enhance some backtest in higher timeframes. Let say you use the Bot on the 1-hour timeframe, you may be able to find better results if you increase the confirmation value.
Allow Trading on Specific Days
This feature allows you to select which days you want the Bot to trade on.
If all days are unticked (as default) the Bot takes Trades on ALL Days!
Simply select the Days you want the Bot to take trades on!
Force Exit at [Day] Session Close
If you want the Bot to Exit no matter what when the day closes you can enable "Force Exit at [Day] Session Close". The Bot will then exit all open trades when the Day Closes.
If this option is disabled the Bot will take the next exit or SL, which can occur in any session.
Example Force Exit.
Example 1.
Let's say that you have enabled Trading Days, "Mon" and "Fri", and enabled "Force Exit", then the Bot will close all open trades when Monday Closes and when Friday Closes.
Example 2.
Let's say that you have enabled the Trading Day, "Wed" and enabled "Force Exit", then the Bot will close all trades when Wednesday closes.
Force Exit at [Day] Session Close does only work if you have selected to trade on specific days.
Tips
Aggressive Exit
Let say you load the Bot on the 1-hour timeframe, and you enable Exit Timeframe and set it to 30 minutes. The Bot will now exit all trades based on a lower timeframe. The Bot will now exit almost instantly, however, if you enable Price Action Filter you can find really nice backtests.
Start with only enabling Price Action Entry and adjust the Price Action Value to see what's happens. Go back and change the Exit Timeframe. It's an iteration process.
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