Moondrops release Crypto screener app for traders
We are excited to announce the release of Moondrops for iOS and Android, a technical indicators screener for Crypto traders. Say hello to ‘pre-technical analysis’!
Automated algorithmic trading and data-driven analysis are the dominate force in current markets- from high frequency trading arbitrage to optimised predictive models based on technical analysis. Individual traders should be able to leverage data and modern tools in similar ways. If you’ve ever run or built a trading bot (highly recommended), you know the cornerstone is not in the code or speed of the server, it is the strategy idea itself. Moondrops provides a simple interface to explore strategy ideas and filter cryptocurrencies.
Why do we screen?
The concept of ‘screening’ is quite simple- given a large data set (200+ BTC and USDT pairs on Binance), you can sort/filter with your own criteria to reduce the data set. This provides an edge to the trader- knowing which pairs to look at for further analysis/charting. A form of ‘pre-technical analysis’ has taken place.
In our opinion, most screeners exhibit the following limitations:
1/ UI complexity: usually a form with a multitude of inputs, sliders, checkboxes, drop-downs, etc. Also, switching between different screening strategies is non existent.
2/ No forward filtering (set and forget): a screener will only show results for now — what about 15 minutes from now, or tomorrow, or anytime in the future when your criteria is met?
To solve #1 we simplified by reducing the amount of configurable options, then optimised the UX for mobile use. Everything is laid out clearly on the edit screen with only labelled toggle buttons. You select a timeframe (15 minute, 1 hour, 4 hour, or 1 day), and your indicator filters (most popular indicators only, with common settings). You can switch between scalping a 15 minute RSI divergence + bullish candlestick pattern, or swing trading a daily 50/200 EMA golden cross, in a few button taps.
To solve #2 we added indicator alerts per timeframe. After setting up a strategy of selections/filters, you can ‘create an alert’, which will send a notification when your conditions are met after every candle close on that timeframe (eg. every 15 minutes if you’re trading the scalping strategy above). The alert will tell you how many coins have triggered for your strategy, and tapping the alert will open your strategy in the app, listing all the results.
We hope traders see the benefits of a premium mobile based screener, and consider the value compared to other expensive alternatives ie. bots, signal services, paid indicators, and call groups. The Moondrops premium subscription is US$5.99 per month, which unlocks all indicators with unlimited alerts. Non-premium users will have price, change %, volume, and candlestick patterns available.
Whats next?
We’re open to community advice and customer feedback to help improve the Moondrops app- more indicators, alert/filter options, exchanges (Binance only at the moment), different asset classes (Forex/stocks/metals), etc. We are also publishing various statistical reports on current markets, to help our users compare indicators across time frames objectively. The first ‘Indicator Audit Jan-June 2019’ is now available: https://moondropsapp.com/indicatoraudit
Find us on the App Store or Play Store
Visit Moondrops Website: https://moondropsapp.com/
Follow Moondrops on Twitter: https://twitter.com/moondropsapp
Source: Blog post from Medium article: https://medium.com/@moondropsapp/moondrops-release-crypto-screener-app-for-traders-ed4dcb046207
