Binance has announced the gradual rollout of a "Trailing Up" function for its Spot Grid Trading Bots, with completion estimated by the end of October 2023.
When enabled, the new feature allows a Spot Grid Trading Bot to automatically adjust the associated configured price range upwards in response to a market price increase. This enables users to keep placing orders at predetermined intervals using Spot Grid Trading Bots without needing to manually alter the configured price range, potentially resulting in higher profits during a market upturn.
Additionally, if a Stop-Loss price has been set for a Spot Grid Trading Bot that uses the "Trailing Up" function, the Stop-Loss price will automatically increase when the configured price range moves upward. This enhancement aims at offering Binance users a more seamless and hassle-free trading experience.