⚙️Action Node

The Action Node is a central element in the construction of trading bots on the MindTrade platform. It represents the various actions that are executed as part of a trading strategy. These actions can range widely, from market analysis and trade execution to data retrieval like fetching web pages or social media content.

Action Nodes are designed to perform specific tasks that directly contribute to the functionality of the trading bot. Each node encapsulates a particular action.

Characteristics

• Versatility: Action Nodes can perform a diverse array of tasks, including sentiment analysis, buying or selling assets, fetching prices and volumes, extracting information from external sources like websites or Twitter and much more.

• Core Functionality: They are the building blocks of any strategy, representing the operational steps that the bot will execute.

• Configurable: Depending on their function, Action Nodes can be highly configurable, with settings that tailor their operations to the precise needs of the trading strategy.

• Task Execution: Each Action Node performs its designated task when activated by the flow of the bot’s execution path. This could involve analyzing data, making a trade, or gathering information from external sources.

• Data Handling: Action Nodes can process input data received from previous nodes, utilize it to perform their tasks, and generate outputs that can be used by subsequent nodes in the graph.

Usage

To effectively use an Action Node in your trading bot:

• Selection: Choose an Action Node that aligns with the specific action required at that point in your strategy. The MindTrade platform provides a catalog of predefined Action Nodes to choose from.

• Configuration: Configure the node with the necessary parameters that define how the action should be executed. This might include setting thresholds for trading, specifying keywords for sentiment analysis, or defining URLs for data retrieval.

• Integration: Place the Action Node on the canvas and connect it appropriately to preceding and subsequent nodes. Ensure that the inputs and outputs are correctly set up to maintain the flow of data and control.

You can find a detailed description for each Node in the section.