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GunBot Review (2022)

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GunBot is an advanced, developer-friendly automated trading platform that comes packed with powerful tools and features.

Check out this GunBot review for everything you need to know about this crypto trading bot!

Advantages

  • 17 premade trading bots available.
  • Strong community support.
  • Supports custom JavaScript trading bots.
  • Build buy/sell signals from 130+ technical indicators
  • Membership can be sold to other users.
  • Social trading marketplace.
  • Powerful TradingView Integration.

Disadvantages

  • Expensive.
  • TravingView integration must be purchased separately.
  • Not suitable for beginners.
  • Large learning curve.
  • No Options trading bots.

Main Features

Automated Trading

As GunBot puts it, there’s very little magic in its product, and the platform is designed to carry out the exact instructions you feed it.

To facilitate this, GunBot offers a seemingly endless array of tools and features, all of which are used to create highly customized automated trading strategies.

That said, reviewing every single tool the service has to offer is beyond the scope of this review, and instead, I’ve picked those I feel are the most important.

GunBot Logic

All strategies follow a simple ‘Buy Once Sell Once’ principle and require conditions to operate, the most important being buy and sell signals.

Buy and sell signals can be created using over 130 technical indicators, including popular options like RSI, Bollinger Bands, MACD, and much more.

Besides buy and sell signals, trading bots need to be supplied with balance settings, which include items like minimum sell volume and minimum buy volume.

Finally, each bot needs to know what order type to place. The number of order types supported by GunBot is impressive and is far more than you’ll find on simpler automated trading platforms like Shrimpy.io or TradeSanta.

Once these basic settings have been chosen, select a trading pair and choose an exchange for the bot to operate on.

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While most trading strategies do follow this rule, there are several exceptions, most notably the DCA and Step Grid bots.

The Emotionless Strategy (Beginner)

Designed to deliver modest but steady gains, the Emotionless Strategy is built for new users who aren’t ready to build their own trading bots.

While no one knows exactly what indicators and parameters are used, many community members claim the bot trades on the principles of the Ichimoku Cloud indicator.

If you use this feature, know that you won’t be able to change any of the settings and the bot must be deployed as-is.

Step Grid Bot

The Step Grid Bot is one of the many pre-configured trading bots available on GunBot, and based on community reviews, is their most popular.

The bot follows a simple strategy logic – buy when the price goes down by X percent and sell when it goes up by X percent. However, unlike the Emotionless Bot, you can set these sell and buy intervals yourself.

If you don’t know where to set these intervals, you can take advantage of the ‘autoStep’ feature, which will automatically choose these intervals for you.

It should be understood that the Step Grid bot is designed to trade every meaningful price movement, meaning it’s not as safe as the Emotionless Strategy and there is some risk involved.

To safeguard your holdings from losses, be sure to always set a Trade Limit to limit the amount of funds your bot can trade.

Spot Trading Strategies

Besides the two mentioned above, GunBot comes equipped with 15 other pre-configured spot trading strategies:

  • ADX: The bot buys when prices are moving up and the Average Directional Index indicates a strong uptrend. When the reverse is true, the bot sells.
  • ATRTS: Identifies buy and sell signals by looking for an increase or decrease in volatility using the Average True Range
  • Bollinger Bands TA: Uses Bollinger Bands to identify when a coin is overbought or oversold. When a coin is deemed oversold, a buy order is placed. When it’s overbought, a sell order is placed.
  • EMA Spread: Places a buy order when the spread between a fast EMA and a slow EMA widens. A sell order is executed when the opposite is true.
  • Gain: When the price dips below the slowest moving EMA, a buy order is placed. When the price increases by a predetermined percentage, a sell order is executed.
  • Ichimoku Cloud: Uses the Ichimoku trading strategy to select entry and exit points.
  • MACD: A buy order is placed when the MACD line crosses over the Signal line. A sell order is placed when the opposite is true.
  • MACDH: Similar to the MACD bot but uses the MACD Histogram to identify crosses and place buy/sell orders.
  • PingPong: Used when a coin is trading within a well-defined range. Very similar to the Grid Trading Strategy.
  • SMA Cross: When a fast Simple Moving Average crosses above a slower Simple Moving Average, a buy order is placed. When the opposite is true, a sell order is placed.
  • Spot Grid: A dynamic Grid Trading Strategy. Instead of trading within a defined range, the bot moves with the price action, trading the up and down movements as it sees fit.
  • Spot Grid Advanced: Similar to the standard Spot Grid bot but with more dynamic trend detection and additional configuration options.
  • Step Gain: Employs Exponential Moving Averages to detect changes in trend and place buy/sell orders accordingly.
  • Support/Resistance: A simple, yet powerful bot; it buys at support and sells at resistance.
  • Time Series Analysis: Uses a Time Series Analysis, the bot attempts to forecast future price points. If a coin is below its forecast price, a buy order is placed. When the opposite is true, a sell order is executed.
  • Trailing Stop/ Stop Limit: Places trailing-stops and trailing-limit-buys along the price action of a coin/token. It uses the cross of one over the other to place buy and sell orders.
Can I add other indicators and configurations to these bots?

Yes, nearly all pre-configured bots allow you to add other indicators to their strategy. In most cases, this is highly recommended as bots can often be one-dimensional in their market analysis.

For example, most people add the RSI indicator to the ADX bot to help it better identify and confirm a change in trend.

Moreover, all bots can be equipped with buy and sell volume limits.

Futures Trading Strategies

All pre-configured bots – Emotionless and Step Grid aside – can trade the futures market provided you have an active futures account with a supported exchange; like Binance, FTX, or Kraken.

While all Futures bots follow the same general strategy as the Spot market counterparts, some do have minor differences that make them better equipped to trade leverage positions.

Custom JavaScript Trading Strategies

GunBot lets you build customized trading strategies using Javascript. These scripts can be used on both the Spot and Futures market and offer a level of customization that not even the GunBot logic tools can match.

That said, using custom trading scripts can be very risky, and if you go down this route, you should probably backtest any hand-coded strategy before letting it loose on the live market.

Although there’s no GunBot specific syntax, the platform does supply you with hundreds of trading methods you can use to construct your strategy.

How do I use my custom JavaScript strategies?

Any .js files saved in the GunBot root folder will be detected by GunBot when you open the trading terminal.

Dollar Cost Averaging

GunBot offers a Dollar Cost Averaging tool it calls Double Up (DU). The tool serves as a safeguard against falling prices and works by buying more of a coin as it drops in value.

By doing this, it brings down the average cost of the position, making it easier to exit at a profit when the coin increases in price.

Of course, this tool isn’t without its risks, and in the crypto-market where large price dips are common, DU has the potential to leave you in serious trouble.

Reversal Trading

Reversal Trading is another feature that helps protect you from falling prices.

When a change in trend is observed, the bot will sell your current position and buy it back at a lower price. This process may be repeated several times if the price of a coin continues to fall.

When the downturn has ended, you’ll be left with more of the coin than you initially had at a lower price.

TradingView Alerts & Other Add-Ons

If you want your bots to receive TradingView alerts and signals, you’ll need to purchase the TradingView add-on from the GunBot Shop.

This add-on comes with a price tag of 0.003 BTC, and once purchased, will give your bots the ability to receive and response to TradingView signals.

Backtesting

Being able to test your bots and strategies before deploying them on the live market is an important part of automated trading.

Unfortunately, GunBot doesn’t have a built-in backtesting feature, and instead, has made it an add-on available for purchase from the GunBot shop.

The cost of this add-on is 0.0018 BTC, and like the TradingView add-on, it comes with a lifetime license.

Charting Station

For conducting TA and other market analysis, GunBot has its very-own TradingView-powered charting station.

This charting station is one of the best I’ve come across and rivals what you’d find at popular exchanges like Binance or Kraken.

It’s also head and shoulders above what’s offered by most other popular trading tools – like TradeSanta, Coinrule, and Shrimpy.io.

Manual Trading Terminal

GunBot runs its own exchange called Gunthy, which can be accessed through your web browser or the GunBot desktop terminal.

While the exchange has some unique features, its UI is fairly basic and there’s little reason to use it over other, more advanced exchanges, like Binance, FTX, or Kraken.

Still, the service can be useful for making quick manual trades through the GunBot desktop app – especially when you don’t feel like logging into your exchange account.

Telegram/Community

GunBot has one of the most active automated trading communities around and it enjoys a very close relationship with the platform’s developers.

In fact, many of the changes that have occurred throughout GunBot’s 23 iterations are a direct result of the developers’ continuous interaction with the community.

That said, the community isn’t just for discussing trading strategies and troubleshooting issues, and GunBot has a fairly active marketplace where users can download bots and strategies made by other users.

Supported Exchanges

GunBot is compatible with 20 high-volume cryptocurrency exchanges, including popular names like Binance, Kraken, and Coinbase Pro.

That said, if you download and import the open-source CCXT library from GitHub, you can gain access to over 100 different exchanges, which is much more than you’ll find at any other automated trading service.

What exchanges does GunBot support?

GunBot currently supports the following exchanges:

  • Binance
  • Binance US
  • ByBit
  • Bittrex
  • BitMex
  • Bitstamp
  • Beaxy
  • Coinbase Pro
  • CEX
  • Guthy
  • Huobi Global
  • Kraken
  • Kraken Futures
  • KuCoin
  • FTX
  • HitBTC
  • OKex
  • MEXC
  • TxBit
  • Poloniex

Pricing

Saying GunBot is expensive is a bit of an understatement, and a lifetime subscription will cost anywhere from .002 BTC to 0.0175 BTC.

Interestingly, GunBot uses the Ethereum blockchain to validate license ownership through its utility token GUNTHY. If you decide you’re no longer interested in using GunBot, you can always sell your GUNTHY tokens and get some money back on your initial purchase (assuming a buyer is available).

Is GunBot Safe?

No major issues have been reported.

And because GunBot functions as a desktop application and not a cloud-based service, your API keys aren’t stored on a server.

GunBot Alternatives

Here are a few GunBot alternatives I recommend taking a look at:

  • CryptoHopper: GunBot is expensive, and if you’re not ready to drop that kind of cash on an automated trading service, consider checking out CryptoHopper. Besides being affordable, CryptoHopper is a feature-rich platform that lets you build highly customized trading bots. Check out my CryptoHopper review to learn more.
  • HaasOnline: Like GunBot, HaasOnline is designed for advanced-level traders looking to build and deploy advanced trading bots. While neither service is very user-friendly, most people will find HaasOnline the easier platform to work with. Find out more in my HaasOnline review.
  • Shrimpy.io: Compatible with over 20 exchanges and 13 crypto wallets, Shrimpy.io is one of the few crypto trading bots that offers quality DeFi support. That said, the platform focuses on portfolio management and social trading and isn’t suited for developing complex trading bots. Check out my Shrimpy.io review for everything that you need to know about it.
  • 3Commas: Another affordable alternative, 3Commas is compatible with over 20 popular exchanges and lets you create Spot, Options, and Futures trading bots. Check out my 3Commas review to learn more.

Bottom Line

With its massive selection of features and tools, GunBot is easily one of the most comprehensive automated trading tools available to crypto-investors.

Here are a few things that stood out to me:

  • 17 powerful pre-made bots.
  • Over 100 possible exchanges to trade on.
  • TradingView signals and alerts integration.
  • Large and active community.

If you feel like you’re up for the challenge, and want to give GunBot a try, the service does have a free-demo version available. However, this web-based demo doesn’t give you access to all features, making it hard to truly appreciate the true power of the platform.

Instead, I think it’s better to try it out using the basic plan for a one-time fee of £74.99. If you like the service, you can upgrade your plan at any time at a special price.

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