What is the FOCA algorithm?
FOCA is a combined abbreviation of FOMO and DCA. This is a combination of two algorithms FOMO and DCA to execute subsequent transactions from the first order. Depending on how the market moves relative to direction of the first command. If the price goes in the right direction of the order and meets the FOMO conditions, the FOMO order will be entered. On the contrary, if the price goes in the opposite direction of the first order and meets the DCA conditions, you will enter a DCA order.
As described in the image above, after entering the first BUY order (Blue line), then the price increases and meets the conditions to enter a Fomo BUY order (line Cam). After entering three Fomo orders and the price continued to increase but did not reach the TP level (Green line top) is reduced. Prices continue to decrease and surpass the average break-even price (line Team). If the price continues to decrease and meets the DCA condition, you will enter a DCA BUY order (Red line), then the Take Profit level (Green line) will automatically move to the new point depending on the settings in Giga.
Similarly, if you enter the first BUY order and the price falls and meets the DCA conditions, you will enter a DCA order. After DCA, if the price goes up and meets the Fomo conditions, you will enter a Fomo order again.
To configure and use features FOCA in Giga, we move toTab Action > Multiple > FOCA.
Set up FOCA
Details on FOCA parameters and setup here.
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