Zenbot Review – In-Depth Analysis of Zenbot’s Crypto Trading Capabilities

Zenbot is a trading bot that should help us with working on the Crypto market. We can see the files of the system for everyone to check. So, we have decided to analyze this crypto trading tool to figure out if the system can be useful for traders.

About Zenbot

Zenbot is an open-source solution to work with crypto assets. We can develop this trading bot to fit our trading style. 

Zenbot: how does it work?

We have united all useful data from the documentations to the systemized list without examples with code.

• The bot can provide us with completely automated trading experience.
• Zenbot is a command-line cryptocurrency trading bot using Node.js and MongoDB.
• It analyzes technical data automatically.
• The devs claimed that the bot will support other exchanges soon.
• We can write new strategies on our own.
• There’s a paper trading feature behind the service.
• It works with provided historical data.
• We can configure sell stops, buy stops, and (trailing) profit stops.
• It opens 1-2 orders daily on the H1 time frame and 15-50 deals daily on the M5 time frame.
• The system is not a “sure-fire” trading solution.
• We have to work only with the risks we can bear.
• We have to manage settings properly or the bot will blow our account easily.
• It’s not possible to leave the system unmonitored for a significant period of time.
• The system can manage proper stop loss, so we have to stop it manually.
• The default parameters can underperform.
• If we have questions, we can ask them in the Reddit discussion.
• It uses a trend strategy to spot trading opportunities, checking the moving average convergence divergence calculation.
• There is a Price Action strategy that is based on the RSI, SAR, and EMA indicators.
• The advisor doesn’t work properly on the non-trending market.
• It works better with short 2-minutes trends.
• It can work on the M1 time frame with a speed strategy.
• The developers don’t recommend it without proper testing.

How to set up Zenbot?

• The system should be downloaded and properly checked.
• We have to generate API keys for working with our exchange or exchanges.
• We should launch it on our terminal.

Key takeaways

• The system can be customized if we have a proper experience.
• It can perform for us automatically.
• It supports working on the following operational systems: Windows, Linux. macOS 10 (or Docker).
• We should use Node.js (version 8.3.0 or higher) and MongoDB.
• The system should be launched through the console.
• We must add our exchange API keys to enable real trading however.
• API keys do NOT need deposit/withdrawal permissions.
• We can use a UI to manage orders.

User interface

There’s no website for this solution. The devs write everything on their profile on GitHub. So, there’s nothing special.

Trading strategy behind Zenbot

The bot uses trend and price action strategies. It focuses on periods of high volatility on the market.

How profitable is Zenbot?

We can see how the system was tested on the BTCUSDT data from February to May. The initial deposit was $1000. It grew to $2964.50 of the total net profit in  90 days. The ROI was 195%.

Safety and security of Zenbot

The system works with the market through API keys.

Customer support

The developers don’t provide decent support. Anyway, we can ask questions on Reddit.

Reputation

Zenbot doesn’t have a reputation because we don’t have testimonials about its functionality provided.

Zenbot reviews

There are no reviews published. 

Team members

The author behind this service is Carlos Rodriguez. He is a co-founder of the Terra Eclipse company. Carlos is also a Chief Software Architect who has 10+ years of experience in website development.

Zenbot exchanges list

It supports trading on: Binance, Bitfinex, Bitstamp, Bittrex, CEX.IO, GDAX, Gemini, HitBTC, Kraken, Poloniex, and TheRockTrading.

Zenbot pricing: is it worth your money?

The system can be used for free. So, as a result there’s no refund policy applied.

Zenbot review: upsides and downsides

Zenbot review: final remarks

Zenbot is an open-source trading bot. The system requires us to have proper experience to customize and develop it. The developers claimed that they won’t support it and fix it if it stops fitting the market conditions. That’s because the bot can be downloaded for free.