Combined TA indicators in signals and changes to social trading

We’re rolling out new interesting bits of info included into signals and removing pre-approval from social trading profiles, among other things.

CryptoPing
Apr 16, 2018 · 8 min read

Social trading, revisited

1. Every social trader is now automatically approved and can start sending their own signals right away.

In our recent anniversary blog post, we’ve mentioned that we realized that we haven’t made social trading work. Today we’re following up on that with an important change: we are removing pre-approval requirements for social trading profiles and now everyone can indeed create a profile and become a public trader themselves. Trader profiles and signal messages will be post-moderated by our team.

2. Social traders can send custom signals on any tickers available on our supported exchanges.

Another change that we’re deploying with today’s update is the ability for social traders to send custom signals. Initially we thought it would be a good idea to allow them only to “retweet” existing bot signals with their comments, but that didn’t work quite well and now we’re allowing every social trader to create custom up signals on any ticker available on exchanges supported by CryptoPing, at any time. Keep in mind that you can only send a signal on a given ticker every 12 hours. We have created simple guides on how to send both (link 1) types (link 2) of social trading up signals.

Content warning note: as per our Terms of Service, you cannot send any explicit, illegal or copyrighted material in your signal comments, disclose somebody’s identity, spam ads and so on. To put it simply, if you send bad stuff in your comments, there will be repercussions. Please see sections ‘User Generated Content’ and ‘Acceptable Use’ of our ToS for more details.

3. How subscription to trader profile works

Any trader can set up his custom subscription fee, or send signals for free by leaving subscription price at 0.0 USD/mo. Just like subscription to CryptoPing itself, subscription to social traders is specified in USD/mo, but has to be paid in PING, and is received in PING as well. Some important points:

  • The price of PING in USD is derived as average PING/BTC price vs. average BTC/USD price for the last 24 hours and recalculated when a charge occurs.
  • Subscription to social traders is charged daily.
  • Charged subscription fees are distributed to social traders immediately upon charge.
  • If you don’t have enough tokens to pay for subscription to a social trader, you remain subscribed to them, but stop receiving signals from them. Subscription automatically re-enables when you have enough tokens to pay for your subscription.
  • If you have paused subscription to a trader, or even unsubscribed from them, you still retain full history of the signals that you have received while being subscribed to any traders.
  • If you’re a social trader and received subscription fees, you can use or withdraw your fresh PING immediately.
  • CryptoPing retains 5% of subscription fees as a small service tax.

4. How traders’ stats are measured and what to do about it

Social traders signal performance is constantly measured as average of maximum price gains of signals that were sent for the last 2 weeks, for a 2-week period after the signal generation. If you’re a trader and haven’t sent a signal for the last 14 days, your avg. gain value will not be displayed in the traders index for other users, right until you send another signal.

You might be wondering, how could one even gain followers then? We suggest that you set up your trading profile and start sending signals right away, without waiting until somebody subscribes to you. Once you get the gist of it and have stats that look good enough to you, you can promote your profile using external link to it, that makes it available publicly. You can read more about setting up your profile in our short guide.

We hope that these steps will make becoming a social trader more interesting and incentivizing. We’re open to your questions and feedback on the matter.

Introducing Combined TA indicators

Despite the “programmatic technical analysis” milestone being last on our current roadmap and scheduled far ahead, we started working on our TA tools rather early. As a side effect of programming various indicators and measuring their reliability, today we’re rolling out another experimental feature that we call combined TA indicators, that can now be included into signals.

Two new numbers seen above are what we call 🍀early and 💪trend indicators.

Important things about indicators

  1. Both early and trend indicators are measured on 12-hour Japanese candlestick chart candles for the last 40 days (taking 3-month historical data into account), and recalculated every 30 minutes.
  2. Both indicators are relative numbers, generally ranging from 0 to 100%.
  3. Trend indicator can be of negative value, further indicating downtrend significance (read more on that below).
  4. Both indicators are combinations of several metrics. Every employed metric has an equal contribution factor to its parent indicator.
  5. All metrics factors are calculated relatively as well, per candle.

A separate note about relativity

Given the relative nature of indicators and metrics means that when using indicators, you should not aim for a certain indicator value when making any decisions, but rather study the dynamics of the indicator and how it changes with other common asset market parameters, like price, traded volume and so on.

🍀 Early indicator and its purpose

The goal of the indicator that we simply call “early indicator”, marked as a four-leaf clover, is to determine whether there is a reason to suspect accumulation for an asset and, in spirit of our bot signals, detect changes to the volumes and their significance.

Early indicator consists of four metrics:

  1. Changes to SMA (simple moving average) of difference between total buy events and sell events
  2. Changes to SMA of difference between total buy and sell volumes
  3. Changes of buy/sell volume difference expressed in volume numbers
  4. Dynamics of difference between standard OBV (On Balance Volume) indicator and and customized OBV.

When calculating customized OBV for the last metric above, we add only buy volume if the candle close price was greater than the previous candle close price, and only sell volume if the candle close price was less than the previous one. We found that finding difference between standard and customized OBV allows for better hinting at influx of buys when you combine it with other metrics.

Split volume chart available to CryptoPing subscribers when browsing asset charts on our website. As far as we know, there are no other public trading chart tools that deliberately show split volumes for crypto assets.

So what does it mean exactly when early indicator reaches 100%?

It means that our algorithms have detected that:

  • the SMA value of difference between the number of buy and sell trade events is the highest for the last 40 days (and so is the actual difference value);
  • the SMA value of difference between total buy and sell volumes is the highest as well for the same timeframe;
  • it’s the biggest change to buy/sell volume difference in plain numbers;
  • most of the volume is buy volume and it has increased the most at the moment of signal generation, combined with the total volume increase in general.

In our internal testing we have concluded that 50–60% value could be an interesting threshold to take note of, but your mileage may vary. This information becomes useful when you compare the early indicator to its historical values for an asset, and to its price. For example, if you see the increase in volume, and especially buy volume (and therefore increase in early indicator values) for an asset with its price showing almost no heartbeat, then it might be the hint at accumulation and development of price action in the future.

💪 Trend indicator and its metrics

Naturally, trend indicator is designed to indicate whether the price of an asset is trending up or not. It consists of the following metrics:

  1. Relative differences between Bollinger Bands upper and lower band values. BBs are calculated for 20 days (or 40 candles).
  2. Position of the last candle close price around BB zone. Price being above BB usually hints at upcoming local downtrend, and vice versa for the price being below BB.
  3. Position of the last candle close price around BB median (same principle as above).
  4. 20/60/120/30 Ichimoku cloud (effectively 2x shorter than your usual daily cloud, because remember, we’re using 12h candles) with several indicators, explained below in details.
  5. RSI and its dynamics (turn up from below 30 means possible uptrend, turn down from above 70 suggests going down).

Ichimoku cloud metrics

We’re employing several approaches to reading the cloud, which combined contribute to the indicator as a single metric.

  • Possible signs of uptrend: price above base line; price above Span A and B; Span A is above B; conversion line above base line.
  • Possible signs of downtrend: price below base line; price below Span A and B; span A is below B; conversion line below base line.

All these tests contribute to the Ichimoku factor in this indicator about equally, but we can release exact numbers if there’s demand for that.

Once again, this indicator, like the previously discussed early indicator, should not be used at fixed values, it’s all about dynamics. Trend indicator is, as we see it, a tool to give you a quick glance at the state of an asset without digging into charts right away.

Combined TA indicator release notes

The indicators are released today and are available to all subscribers. They are turned off by default, but you can easily turn them on if you go to your preferences and use the corresponding setting.

The indicators are enabled for Telegram only for now. We plan to add them to the website interfaces in your dashboards, API messages and Discord/Slack feeds on Wednesday, April 18 2018.

We remind you that none of the information provided to you by CryptoPing or its users is an investment advice. The trading decisions that you make, and risks you take are yours and yours only. You should always remember that past performance is not necessarily indicative of future results. And always do your own research.

We’re eager to hear the feedback on these changes from you, together with any other suggestions and requests about new exchanges. Drop us a line at admin@cryptoping.tech.

Last but not least: our special subscription offer is up for grabs again for another three months until June 30, 2018. If you have 100 PING or more on CryptoPing your account, you can subscribe for a month for free and access these new features! (And if you claimed the offer during January-March, now you can do it again!)

CryptoPing

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Cryptocurrency signalling service. https://cryptoping.tech/

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