Evaluating Gekko: An Open-Source Market Leader For Algorithmic Crypto Trading

Among cryptocurrency traders, one bot stands out as a longstanding staple of algorithmic and automated strategy trading: Gekko. First appearing in 2013, this free, open-source product has built a reputation for versatility and reliability across a series of bull and bear market cycles.

I‘ve worked extensively with algorithmic trading bots over the past several years evaluating options for clients. In this comprehensive guide, we‘ll analyze Gekko‘s unique blend of features, customization, and community support that cement its status as a core platform for intermediate to advanced crypto traders.

**We‘ll cover:

Key capabilities
Customization and extensibility
Technical breakdowns
Developer community
Project roadmap
Ideal user profile

Let‘s dive in to see how Gekko became a market leader and determine if its extensive toolset can elevate your trading.

Why Gekko Stands Out

Before assessing nuts and bolts functionality, it‘s worth addressing why an open-source bot created in 2013 remains deeply embedded within the current market.

In short – adaptability.

Unlike closed-source trading software dependent on top-down product decisions, Gekko benefits from perpetual enhancement by an engaged community of over 500 developers worldwide. Just perusing the GitHub commit logs offers a glimpse of continual improvement.

This grassroots style innovation enables cutting-edge features like backtesting/paper trading, custom indicator and strategy development through NodeJS/JavaScript, and API connections delivering 24/7 automated trade execution across exchanges.

Accessibility also plays a key role. By operating through an MIT open-source license, each enhancement gets built upon incrementally – no proprietary limitations on creativity. The collaborative open model ultimately surfaces more robust functionality than any individual or team could achieve alone.

Let‘s explore what that flexibility delivers…

Key Capabilities and Supported Exchanges

Even in basic form, Gekko incorporates advanced capabilities rivaling paid platforms:

Trade Execution

Live trading connects directly to exchange APIs
Support for limit orders and timed orders
Configurable order adjustment to mitigate fees

Strategy Automation

Built-in basic trading methods like MACD crossing
Community-contributed bot strategies
Customizable indicators and strategies through NodeJS/JS

Simulation and Backtesting

Importable historical market data
Sandbox paper trading reveals strategy effectiveness
Simulate buys/sells to estimate returns

Risk Management

Trailing stops/profit stops to preserve gains
Programmable sell conditions, position sizing, and loss thresholds

Combining those provides robust infrastructure for automated trading.

In terms of exchange support, Gekko connects to a solid range of leaders (and several altcoin-geared platforms):

Binance
Bitfinex
Bitstamp
Bittrex
Poloniex
Kraken
Coinbase Pro
Kucoin
CoinFalcon

The Binance and Bitfinex integrations notably enable full feature parity to maximize tools like stop-losses and bot order creation. Other exchanges see more basic order/balance functionality – but most traders will find the essentials covered sufficiently.

Notably, Gekko used to support Gemini – however that exchange got restricted in community updates due to issues with reliability. This exemplifies the nuances of maintaining an open-source project – some connections simply prove trickier or riskier to continually update relative to contributors‘ bandwidth. But the breadth of active links still clearly satisfies most traders‘ multi-exchange needs.

Customization and Extensibility

While the out-of-box features provide ample capability, Gekko‘s true differentiation shines through customization…unmatched among free offerings.

The open-source approach enables traders to mold strategies and indicators to their style:

Custom Strategies

By editing configuration settings or employing NodeJS/JavaScript (JS) code, traders can deeply modify logic:

Fine-tune indicators like RSI, MACD, EMA
Set custom buy/sell rules and position sizing
Incorporate external data feeds
Build and backtest entirely new bot concepts
Create multiple configurable trading "Modes"

This flexibility particularly empowers intermediate coders unwilling to accept cookie-cutter functionality. If you can script basic JS algorithms, Gekko delivers an adaptable base to realize inventive techniques.

Community Strategies

Gekko also enables downloading publicly-shared strategies from other users – ideal inspiration for customizations. Browse the Community Strats forum to leverage pre-built momentum or reversal approaches.

Indicators

Over a dozen indicators (eg RSI, Stochastic, CCI) ship built-in. But the open architecture again permits enhancing with JavaScript. Developers can fine-tune parameters or craft entirely custom formulas suited to emerging market realities.

This backstage pass for tinkering with intricate calculations expands possibilities tremendously compared to closed platforms.

The commitment required to reap those benefits however poses a tradeoff. Customization power holds little value for traders unable or unwilling to code tweaks. User-friendliness lags platforms emphasizing simplicity like Cryptohopper. But for devoted algorithm builders, no free bot matches Gekko‘s versatility.

Community and Developer Support

If dedicating to the learning curve, traders gain an extensive peer group for sharing guidance. Active discussion forums provide tips for maximizing features:

Community Forums – Ask advice on indicator settings or troubleshooting.
GitHub Issues – Flag problems to advance fixes.
Wiki Guides – Reference detailed installation/usage tutorials.
Gitter Chat – Live developer/contributor chat rooms.

Roughly 50 forum posts and 30 GitHub issue threads are produced weekly demonstrating active engagement. For context, Cryptohopper sees approximately triple the discussion volume across 10x more users – admirable scale for Gekko‘s grassroots status.

Development pace also holds strong despite no monetary incentives:

~250 GitHub code commits monthly
2-3 bot version releases per quarter
Consistent indicator upgrades and exchange API expansions

Improvements may admittedly lag paid platforms with dedicated staffing. But continuity of the 6+ year project lifecycle offers confidence. The developer team‘s (("Michael van de Poppe")) longstanding involvement lends stability; open recruitment prevents single points of leadership failure.

For traders invested in mastering in-depth custom capabilities, this community scaffolding proves essential. Seeking peer suggestions for complex tooling avoids dead-ends. It‘s a built-in thinktank to elevate your craft.

Server Setup and Hosting

Unlike some all-in-one bot services, Gekko operates through configs and scripts hosted on a local server or home computer. That hands-on server admin approach adds learning curve but permits full control.

Ideal Setup

Runs on Linux (Ubuntu) or MacOS
Hosted locally or cloud server (DigitalOcean, Linode)
NodeJS 10+
MySQL or MongoDB for data storage
<500ms exchange API latency
24/7 uptime for continuous trading

Windows users can spin up Linux VMs through VirtualBox or tools like Vagrant. Cloud hosts like AWS Lightsail provide out-of-box server environments to simplify initial setup.

The docs guide through requirements. Just expect MIY setup equivalent to running a full-fledged dev stack. The legacy CLI style interface true to Gekko‘s hacker roots.

Evaluating Open-Source Viability

Some traders reasonably question whether an open-source free bot can match proprietary solutions for features and reliability. Without financial incentives, what motivates continual innovation?

In Gekko‘s case – a few factors:

User passion – The majority of contributors use Gekko themselves for trading. They personally value improvements to functionality. Passion projects often inspire higher caliber efforts than corporate "work".

Community recognition – For ambitious developers looking to elevate skills, solving complex trading challenges provides outlet to demonstrate expertise. Public code contributions offer resume-worthy portfolio samples.

Foundational architecture – Gekko maintains a strong JavaScript architecture. Improvements build incrementally upon what‘s present rather than re-inventing. This makes ongoing tooling iteration straightforward.

Market differentiation – Despite competition, Gekko carved a niche for folks valuing self-controlled flexibility over slick UIs. Comparable open-source options simply don‘t exist. Retaining users means sustaining innovation.

Of course, open source comes with inherent risks. Absent users may stall progress or features could regress through platform changes. But Gekko‘s flagship status for advanced algorithmic traders necessitates its audience zealously protect continuity.

And direct user/developer overlap ensures product motivations align with user goals. Contributor roles blend from discussing bugs, suggesting features, fixing pull requests, all the way to guiding core development priorities.

Recent Project Developments

Scouring recent release notes and GitHub issues offers insight into current Mello focus areas:

Exchange API expansions – priority on maximizing Binance order capabilities and adding emerging exchanges (KuCoin, ByBit, Bitget).

UI modernization – early exploration into frameworks like VueJS to improve mobile support and visualizations.

Community package manager – seeking to streamline imports for external talesmans and scripts from contributors.

Simulation Tracking – surfacing more backtesting insights like sharpe ratios to gauge strategy viability.

Efforts skewing heavier toward back-end architectural improvements versus surface-level bling aligns with Gekko‘s functional style. But early hints at cosmetic updates signal acknowledgement UX touches attract a wider audience.

Priorities seem largely community-driven based on forum polls and lively GitHub commentary. It will be interesting to watch if those themes shift as speculators transition from spot to derivatives trading in 2024‘s crypto market evolution.

Determining If Gekko Fits Your Style

Given the customization range enabling advanced capabilities shaped by direct user input, Gekko stands strongest for traders in specificmoldes:

The Trader Architech

You thrive on systems thinking and hold a vision for a strategic masterpiece. Gekko provides the engineering workspace to methodically craft your Mona Lisa.

The Analytical Scientist

Nothing satisfies like diving into data and emerging with insights. Gekko unlocks unlimited tools to slice/dicetrade secrets previously hidden.

The Pragmatic Programmer

You live in code. To you, trading presents another chance to elegantly script the world as you wish it to be. Gekko speaks your language.

The Community Member

Trading solo feels isolated and stagnant. You yearn for stimulus through sharing ideas and pushing concepts past limits. Gekko‘s circles welcome you.

The iterating Self-Starter

No one understands your needs better than you. Gekko furnishes every ingredient for baking proprietary secret sauce. Your skills supply the rest.

Gekko won‘t suit those seeking a simplified "set and forget" bot. Entry necessitates config coding comfort. But for pioneers across technical spectrums eager to build rather than buy, possibilities explode.

The toolset concentrates power typically reserved for quantitative hedge fund developers. Only imagination limits what you might brew.

Conclusion

Cryptocurrency trading moves in internet years – rapid iteration across market phases favoring adaptable solutions. As one of the earliest available bots, Gekko‘s grassroots longevity testifies adapting to users rather than forcing prescribed functionality.

Its pragmatic emphasis on performance over polish retains loyalists despite slicker entrants. And the unmatched extensibility through contributor know-how keeps innovation relevant amidst evolving global regulatory schemas and next-gen blockchain primitives.

For intermediate+ crypto traders hungry to stretch capabilities beyond off-the-shelf templates, Gekko grants a diversified community playground encouraging custom craftsmanship. The advanced architecture stacks building blocks for conceiving what‘s next rather than recycling past conventions.

So while many bots claim opening opportunity for all, Gekko goes further – creating launchpads for each trader‘s unique edge. Those prepared to build the future locally alongside kindred trailblazers will thrive in this ecosystem valuing imagination over prescribed paths.

The risk-taking required may deter those preferring packaged products over DIY invention. But for determined traders committed cooperatively elevating their expertise, Gekko delivers the best-in-class tools to unlock that collaborative potential.

In summing up pros and cons:

PROS

Free and unlimited use
Open-source extensibility
Custom strategy coding potential
Backtesting simulation and paper trading
Strong technical indicator set
Active contributor community
Solid exchange API support

CONS

Manual install/server setup required
Limited technical support
Contributor reliant development
Sparse troubleshooting resources
Dated UX and mobile connectivity

So while it requires patience ingesting docs and wielding cowboy-esque command lines, the payoff enables capacities no closed software allows. For those choose-your-own-adventure aspirations, Gekko remains the definitive gateway to unlocking trader-controlled algorithmic mastery.

What trading dreams might you make reality if granted the tools to build without limits? With Gekko‘s battle-tested backbone awaiting your spark, the only obstacle left lies internally.