Market dips below 81 nothing happens because the app is waiting for 78, but if the market reverses and goes above the low between 78-81 then the app enters a buy at x$ above the point between 78-81 and if no buy happens because the market reverses so rapidly then it app enters buys at levels the user has defined for x$ more, and x$ more until a buy happens or until a set ceiling is crossed.
So let's take an example for me to understand this. Let's say the price drops to 79, we have entered the buy zone (78 - 81), but it doesn't drop to 78. Instead, it goes up again. The user has defined buy steps at $2, and as soon as the price has reached $81, the bot would place bids at $83, $85, $87 etc. until a buy happens?
Basically yes.
I'll work out stating the logic in a clear fashion.
sebastopol and mrlithium Your work on this is greatly appreciated. I haven't forgotten I stated i would come up with a better example of what I was on about a few days ago. Not that yall are holding your breath until I posted again.
Instead of trying to trade BTC manually I'm working towards a bot application. This is one whack a mole crazy manipulated market. Penny stocks that are about to be delisted don't even hold a candle to Gox/BTC.
I'm pretty sure I have a sound basic formula designed, of course I would think that I thought it up, though at least one programmer appears to agree. IDK if this is the place to post this but if anyone wants to work to program a bot then PM me and I can send you my initial premise, or PM me and I'll edit this post to remove the offending text.