Hi,
I'm on Binance.
I want to do the following:
Precondition:
0 USDT in account
1 limit sell order set at 40000 BTCUSDT
What to do:
if (BTC price < 40000 USDT)
{
set_limit_order("buy", amount)
}
I would like to do that via Binance or by other means like Pine script or other.
I need to know if it's possible and to have some guidance.
Many thanks!
PS: because most of my topics get 70% offtopic messages, I ticked self-moderated option for this one.
As far as I understand, what you want to achieve is that you want to set a specific limit buy order only if the price of bitcoin goes below a certain level. I am not sure how to set it automatically, but you can definitely set such an order beforehand by utilizing a special market order called a stop-limit order. The idea of a stop-limit order is that it allows you to specify a particular price (the stop price) after reaching which your limit order enters the game. For example, you can create a buy order with the following conditions: stop price - 40000$, buy price - 39999$ or lower. This type of order is explained in detail here:
https://www.binance.com/en/support/faq/115003372072