Bitsgap's DCA bots have additional optional features, such as Step and Amount multipliers, allowing your DCA bot to average your position more efficiently.
The amount multiplier is a progressive coefficient that increases the size of each subsequent DCA order. For example, each following DCA order will contain an amount raised by x1.19, as shown below.
📑 Note: The coefficient of the amount multiplier varies from x1 to x2. The greater the coefficient, the lower the average price.
The step multiplier feature is a tool that helps to expand the grid of DCA orders with increasing intervals between them to make fewer trades as the price moves against the first order. For instance, each following DCA order will be further away from the previous one by x1.27, as shown below.
📑 Note: The coefficient of the step multiplier also varies from x1 to x2. The greater the coefficient, the lower the average price.
🤖 Creating a bot
Both options can be found in the 3rd step when creating a DCA bot. To add one of the features or both of them, press the [Options] button.
To activate amount multiplier, click [Options] > [Amount multiplier]. Move the toggle to select the coefficient, and if you have enough balance, you will see the [Confirm] button as shown below.
Once you enter the coefficient, each following DCA order will contain an amount raised by x1.19.
The weighted buy price will display your average buy price; the greater the coefficient, the lower your weighted buy price.
Maximum buy value represents how much funds you will need to place DCA orders with the amount multiplier tool. The amount will increase if the coefficient is high.
The remaining balance shows how much funds will be left in your wallet. However, if that figure is negative, it means how many additional coins will be purchased to launch a bot with such settings.
Both of these tools are located in the same step. To activate it, click [Options] > [Step multiplier]. Move the toggle to select the coefficient. Once done, click on the [Confirm] button as shown below.
When selecting the coefficient, each following DCA order will be placed further away from the previous one by x1.40.
The lowest buy price displays your lowest buy order in your grid.
The weighted buy price shows your average buy price; the greater the coefficient of the step multiplier, the lower your weighted buy price.
When all the options are added, you will see all the information on your setup panel and the chart.
📚 What's next?
Want to know more about the DCA bot? Find out more about it by checking out this article - DCA (Dollar-cost averaging) Bot.