Coinrule, a leading cryptocurrency automated trading platform, has announced the launch of several new features aimed at enhancing the user experience.
LONDON, UNITED KINGDOM , December 20, 2022 /EINPresswire.com/ — Coinrule, the leading automated trading platform, has just unveiled a host of groundbreaking new features that are set to revolutionize how traders approach the markets. With Kucoin Futures, Open High low close, MFI (Money Flow Index), Bollinger Bands, MACD (Moving Average Convergence Divergence), and Exponential Moving Averages now at your fingertips. You’ll have access to a wealth of powerful tools and insights that can help you make smarter, more profitable trades. These features are the perfect addition to Coinrule’s impressive suite of tools and are sure to take your trading to the next level.
So don’t wait â€“ start using these cutting-edge features today and discover the full potential of your trading strategy!
To discover more about these exciting new features, continue reading the article.
1) Kucoin Futures
With the integration of Kucoin Futures, users will now be able to short assets on Kucoin without actually owning the underlying assets.
Taking a short or sell position on Kucoin Futures is a bet that the price of the asset will fall.
When a user “short sells” a futures contract, the user buys a contract to sell at a (preferably) lower price in the future. For example, if the user sells one contract of Bitcoin at $17,000 it means making a bet that the price of Bitcoin will fall. If the price then falls to $16,000 and the user buys one contract (thereby closing the position) and will have profited $1,000.
2) Open High Low Close
The second newly launched feature of Coinrule is Open High Low Close.
This feature allows users to customise their strategies in a variety of additional ways. The user can set actions to trigger when either the open, high, or low price of the current candle crosses above or below or is less than or greater than, the current price or a variety of technical indicators, including MAs, EMAs, the MACD, and more. Alternatively, the user can use the closing price of the previous candle in the specified timeframe. The users can also set rules to trigger if the price increases or decreases by a pre-specified amount from either the open, high, or low price of the current candle, or when close is selected, the closing price of the previous candle.
3) MFI (Money Flow Index)
Another of Coinrule’s new technical indicator offerings is the MFI.
The MFI, or Money Flow Index, is a technical oscillator that uses price and volume data to identify overbought or oversold coins. Similar to the RSI, the MFI oscillates between 0 and 100. However, with the MFI, coins are considered overbought when the MFI is 80 and oversold when the MFI is under 20. However, thresholds 90 and 10 are also commonly used. When the MFI reaches these critical thresholds, an asset could be primed for a trend reversal.
Another essential thing to look for is the divergences between the indicator and price. If the MFI is rising while the price is falling or flat, it could be an indication that the price is about to appreciate.
Similarly, if the MFI is falling while the price is rising or flat, it could indicate that we are primed for a trend reversal. The MFI is often used in conjunction with the Relative Strength Index (RSI) to increase the reliability of signals.
On Coinrule you can find some of the MFI templates for building strategies.
4) Bollinger Bands
Continuing with our new technical indicator offerings, Bollinger Bands is the fourth feature on Coinrule.
Bollinger Bands are among the most famous and widely used technical analysis indicators. They were created by John Bollinger in the early 1980s. A Bollinger Band is a technical analysis tool defined by a set of trend lines traditionally plotted two standard deviations (positively and negatively) away from a simple moving average (SMA) of an asset’s price. The SMA (the middle line) then serves as a base for the Upper and Lower Bands which are used to measure volatility by observing the relationship between the Bands and price. When the Bands are converging and the gap between them is small, it indicates that volatility is low and that a breakout could be imminent.
Determining the breakout direction is more challenging. John Bollinger suggests using a combination of other indicators, such as the RSI, in conjunction with his Bands to try and identify the breakout direction.
Additionally, if there is a positive divergence, that is if the indicators are heading upwards while the price is heading down (or staying relatively stable), it is a bullish signal and hence an upwards breakout is more likely.
Conversely, if the price is moving higher but the two bands are displaying negative divergence, a downside breakout is the more likely scenario. Other important signals can come when the price breaks the Upper and Lower Bands. When the price breaks the Lower Band, it can act as a buy signal and the opposite is true when the price breaks the upper band.
5) MACD (Moving Average Convergence Divergence)
The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of an asset’s price. The MACD is calculated by subtracting the 26-period exponential moving average (EMA) from the 12-period EMA.
The result of that calculation is the MACD line. A nine-day EMA of the MACD called the “signal line,” is then plotted on top of the MACD line, which can function as a trigger for buy and sell signals. Traders may buy the asset when the MACD crosses above its signal line and sellâ€”or shortâ€”the asset when the MACD crosses below the signal line. MACD indicators can be interpreted in several ways, but the more common methods are crossovers, divergences, and rapid rises/falls. As the below example illustrates, the MACD can serve as an extremely useful signal of when to enter and exit trades.
6) Exponential Moving Averages (EMAs)
Last but not least Coinrule integrated support for 4 Exponential Moving Average (EMA) periods. Traders can now build EMA8, EMA12, EMA26 and EMA55 into their strategies.
EMAs are a type of moving average that places a greater weight and significance on the most recent data points. The exponential moving average is also referred to as the exponentially weighted moving average. They react more significantly to recent price changes than a simple moving average, which applies an equal weight to all observations in the period. Similar to Moving Average crossings, EMA can provide important signals for traders.
For example, if a fast period Exponential Moving Average (e.g. EMA8) crosses above a slower period Average (e.g. MA55) it can act as a buy signal for a trader.
Intuitively, when the fast period EMA crosses below the slower period EMA, it can act as a signal to close or open a short position.
In conclusion, Coinrule’s latest suite of features is a game-changer for traders. These powerful tools provide unparalleled insight and flexibility, allowing users to make more informed and profitable trades. Whether you’re new to trading or a seasoned pro, these features are sure to enhance your experience on Coinrule and take your trading strategy to the next level. So don’t wait â€“ start using them today and discover the full potential of your trading potential.