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Add documentation for price finding

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Matthias 2019-12-18 16:38:57 +01:00
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docs/configuration.md
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@ -393,6 +393,41 @@ The valid values are:
"BTC", "ETH", "XRP", "LTC", "BCH", "USDT"
```
## Prices used for orders
Prices for regular orders can be controlled via the parameter structures `bid_strategy` for Buying, and `ask_strategy` for selling.
Prices are always retrieved right before an order is placed, either by querying the `fetch_ticker()` endpoint of the exchange (usually `/ticker`), or by using the orderbook.
### Buy price with Orderbook enabled
When buying with the orderbook enabled (`bid_strategy.use_order_book=True`) - Freqtrade will fetch the `bid_strategy.order_book_top` entries in the orderbook, and will then use the entry specified as `bid_strategy.order_book_top` on the `bids` side of the orderbook. 1 specifies the topmost entry in the Orderbook - while 2 would use the 2nd entry in the Orderbook.
### Buy price without Orderbook
When not using orderbook (`bid_strategy.use_order_book=False`), then Freqtrade will use the best `ask` price based on a call to `fetch_ticker()` if it's below the `last` traded price.
Otherwise, it'll use the following formula to calculate the rate:
``` python
ticker['ask'] + ask_last_balance * (ticker['last'] - ticker['ask'])
```
This means - it uses the difference between last and ask (which must be negative, since ask was checked to be higher than last) and multiplies this with `bid_strategy.ask_last_balance` - lowering the price by `balance * (difference between last and ask).
### Sell price with Orderbook enabled
When selling with the Orderbook enabled (`ask_strategy.use_order_book=True`) - Freqtrade will fetch the `ask_strategy.order_book_max` entries in the orderbook. Freqtrade will then validate each of the orderbook steps between `ask_strategy.order_book_min` and `ask_strategy.order_book_max` on the `ask` side for a profitable sell-possibility and will place a sell order at the first profitable spot.
The idea here is to place the sell-order early, to be ahead in the queue.
A fixed slot (mirroring `bid_strategy.order_book_top`) can be defined by setting `ask_strategy.order_book_min` and `ask_strategy.order_book_max` to the same number.
!!! Warning "Orderbook and stoploss_on_exchange"
Using `ask_strategy.order_book_max` higher than 1 may increase the risk, since an eventual [stoploss on exchange](#understand-order_types) will be need to be cancelled as soon as the order is placed.
### Sell price without orderbook
When not using orderbook (`ask_strategy.use_order_book=False`), then the best `bid` will be used as sell rate based on a call to `fetch_ticker()`.
## Pairlists
Pairlists define the list of pairs that the bot should trade.