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Cryptocurrencies are known for being volatile in nature. Traders need to react quickly and make optimal decisions to achieve consistent returns. But, doing so would mean constantly monitoring cryptocurrency exchanges across the globe. This is how automation in the form of crypto trading bots helps conduct trades and execute transactions on behalf of traders. Crypto trading bots [https://mudrex.com/blog/what-is-crypto-backtesting-top-crypto-backtesting-platforms-2021/] programs are designed to automate crypto trading on behalf of traders. The trader needs to pay attention to market statistics, identify the cryptocurrency he/she wishes to buy or sell and define the intervals. The bot can easily automate the analysis and interpretation of market statistics and execute buying and selling of the crypto asset based on your defined strategy.

reviously in the first article of our MasterClass on RSI, we talked  about what RSI is and how to use it while trading. Checkout the first article if you haven’t already. In this article, we’ll be talking about the  most basic strategy of using the RSI indicator to generate buy/sell  signals. We’ll also see how to customize the parameters of look-back  period and overbought-oversold (OBOS) thresholds while implementing it  on Mudrex [https://mudrex.com/].

INTRODUCTION TO RELATIVE STRENGTH INDEX BY MUDREX.COM [HTTPS://MUDREX.COM/BLOG/RSI-MASTERCLASS-PART-1/] The RSI was created by Welles Wilder and many trading strategies have  been designed around this indicator.  It is intended to chart the  current and historical strength or weakness of a stock or market based  on the closing prices of a recent trading period. From trading oversold  and overbought levels to trend determination via the 50 level, the RSI  momentum indicator makes up the backbone of many different types of  strategies.

Mudrex is a cloud-based automated crypto algorithm marketplace, which aims to bring crypto investment to everyone. At Mudrex, you can invest in pre-built algorithms or bots created by expert traders at Mudrex Invest [https://mudrex.com/blog/cryptotrader-vs-mudrex-vs-bitsgap-detailed-review/] or build your own at Mudrex Build. These bots are 100% automated and are spread across multiple cryptocurrencies and exchanges. At Mudrex Build, you can create strategies without writing a single line of code with their drag and drop visual editor.

Cryptocurrency has emerged as one of the most sought-after trading markets in recent times, and a pool of new investors is adding crypto to its portfolio every minute. While the prices have grown significantly in the past few years, so has the trading opportunities for many. But the crypto market is highly volatile, witnesses sharp jumps now and then, and is active round the clock. There are a plethora of exchanges, hoards of markets, and countless groups to give you tips and tricks to generate profits. Making consistent returns in such a market with manual trading is extremely difficult. Therefore, many traders are now moving towards cryptocurrency trading bots, which are computer programs built to ease out the trading process for traders. Visit mudrex [https://mudrex.com/blog/the-best-crypto-trading-bots-in-2021/] for more information