Which is the purpose of this script?
Extends the Simple Pure Market Making script example with custom mid price and dynamic spreads based on technical indicators.
What are the assumptions that justify the creation of this script?
The simple version of pure market making is placing two orders around the mid price with fixed spreads. If the market is in an uptrend or downtrend, the bot will be executing more frequently one of the orders. If that’s the case, the user will probably want to shift the mid price based on the direction of the trend. Also, if the volatility is high the user will also like to increase the value of the spreads.
Based on those assumptions, it will be necessary to shift the reference price and increase or decrease the spreads based on technical indicators.
What the script does
The bot will place two orders around the reference_price (mid price or last traded price +- %based on RSI value ) in a trading_pair on exchange, with a distance defined by the spread multiplied by spreads_factors based on NATR.
Every order_refresh_time seconds, the bot will cancel and replace the orders.
What are the input variables that the user will need to define to run the script:
What the strategy show when you run the status command
trading_pair on exchange