BOTANA
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    • What is BOTANA
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  • How To Use
    • Get Your RPC
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  1. How To Use

MFI Robot

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Last updated 27 days ago

A Money Flow Index (MFI) robot is an automated trading tool that leverages the Money Flow Index indicator to make trading decisions. Here's what it does:

  • Uses Price and Volume Data: The MFI combines both price and volume information to assess the strength of buying and selling pressure in an asset.

  • Identifies Overbought/Oversold Conditions: By monitoring the MFI values, the robot can detect when an asset might be overbought or oversold, which can signal potential trend reversals.

  • Automated Trading: Once the MFI reaches predefined thresholds, the robot automatically executes trades based on your strategy, removing the need for constant manual monitoring.

In essence, the MFI robot helps traders take advantage of market momentum by automating trades based on the flow of money into or out of an asset.

  • Create the Bot:

    • Navigate to the robot creation section in your dashboard.

    • Select the MFI Robot and initiate the creation process.

  • Configure API Keys:

    • Load Your RPC Key: Connect your blockchain by loading your personal RPC key.

    • Load Your BirdEye API Key: Enter your BirdEye API key to enable efficient market data retrieval.

  • Adjust MFI Settings:

    • Set the MFI Low Threshold: Configure the MFI low value that will trigger buy signals when the asset appears oversold.

  • Finalize and Save Settings:

    • Review your configurations to ensure they align with your trading strategy.

    • Save your settings to activate the MFI Robot with your custom parameters.