Cryptocurrency Alerts & Technical Analysis Tool

cryptolume (25)in #cryptocurrency • 6 years ago

Back in October when the total market capitalization was approximately 180 billion there was a sudden surge of users in the cryptocurrency space and an abundance of users entered the space. Due to this, a lot of people were very interested in learning TA (Technical Analysis). Great channels like the DataDash YouTube channel provided great insight into trading, technical analysis and what to watch out for.

As the weeks went on, the total market cap constantly soared and Technical Analysis required a lot more attention, especially with the amount of cryptocurrencies coming out together with news, fud and better competitors constantly entering the space. Volume because ever so important and this was becoming increasingly evident.

This is where Cryptolume was born, although it didn't have a name yet. We started writing bridges in Python to connect out to the major API's available (Bittrex, Coinmarketcap, etc) to start consolidating data such as volume, price, rank and so on. We had the idea that by tracking volume and price action that we could catch moving markets faster, and we did.

This is where users that have used Cryptolume for a while know when it works best, when there is heaps of hype and price action in the market. Cryptolume at this point tells everyone exactly what is moving, and where. We soon after realised that this could be so much more, and help users in more ways than one by diving into the fundamentals of technical analysis and using indicators such as RSI (Relative strength index) to catch better trading opportunities.

RSI in itself isn't a golden ticket to trade however with it you can see what is currently oversold and overbought in the market. We wanted to make this even easier though, to help people save hours per day in trading. We thought of ways to do this and one of the ways that we made this possible was with our RSI Analyzer.

Features of Cryptolume:

- Comparing different cryptocurrencies against each other.
- Selecting all cryptocurrencies at once to instantly see what's oversold/overbought on the market. You can sort by descending/ascending on the table to the right and use the coin selector at the top.
- Know when Bitcoin is going on a run. You can clearly see that when Bitcoin goes overbought, that ETH/LTC are oversold, and vice versa.
- RSI oversold
- Volume/price action going up
- Volume/price going up where RSI was oversold previously
- Providing faster alerts
- Providing more trading indicators and alerting on them

Example of the Cryptolume RSI Analyzer:

As you can see, with our RSI Analyzer, users are able to select multiple cryptocurrencies together in order to see how they are moving and behaving:
A few ways this can be used:

This is a golden ticket for any trader to save time by doing an analysis across the board instantly and easily. After having all of this data readily available and charting it we realised we could start notifying people of patterns occurring in the market by sending users alerts.

Currently we're doing this via Slack and alerting for our users for scenarios such as: However, that is only the start. Cryptolume has been out to the public since only Mid-December and we have already released a ton of features. In that time we've grown exponentially:

Cryptolume Visitor Information Whilst we have grown much larger than expected, our main priority is to provide value to our users at an affordable price. Our competitors are charging 2~3x more for even less features and value. We will never change our prices, however the reason why Cryptolume does have a price tag associated to it is because we process over 40,000 transactions per minute. This is a huge overhead on data, however this is what allows us to provide all of these metrics to our users.

Even with this, we are happy to say that Cryptolume stays up with 100% uptime:

Cryptolume Uptime
With Cryptolume, the RSI Analyzer is not the only tool that allows users to save a lot of time. We have since created the cryptocurrency table of movement which allows users to see movers across the entire market capitalization:

This also lets you sort by metrics such as RSI, volume and price. Basically it's telling you everything that is moving across the market for the top 300 coins. With the idea of this, we decided to create exchange based tables that allow users to dive into the specifics of an exchange and also sort by metrics such as RSI, volume and price. These tables didn't rank the top 300 as well, so users were able to search through all coins on that exchange:

Bittrex Table
Much like the Table of Movement, however the exchange specific tables contain an extra feature, the live order book statistics (To the far right). This tells how many active buyers and sellers are trading in that given cryptocurrency, a features that we plan to expand upon soon.

Example of Cryptolume RSI Alerts:

This is just the start of the features that Cryptolume has to offer, and there's a lot more planned for us in the coming months such as; We are constantly adopting suggestions from our users and will continue to do so, we have a large backlog to go through which will keep us busy however we plan to build the tool into the ultimate cryptocurrency trading arsenal. We plan to use this blog to post about our new features and assist our users with using them so that they can get the most of the toolset. Join us for our journey and find out what we're about at https://cryptolume.co