Im use grid bot, Say we set upper limit at $10, if the coin reaches $10 all coin holdings would be sold at this point in time, correct?

Is there benefit if we set the close price higher than the upper limit?

Answer

Yes this is correct.

There might be some benefit, for instance , resistance level if it was broken down and flip to support, you might dont want to run the bot again because if the price dump, you will averaging down so bad. Also usually people use close price at the upper limit price , or 1 tick above the upper limit to stop the bot when it reach the upper limit , so it wont averaging down after the last order is filled.

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