Guide to New Features in Coinrule

In the past months Coinrule has upgraded its user experience and customizability with new features. Here’s a guide to better understand them and how to implement to master next trades!

MA/RSI Increase/Decrease Indicator

Coinrule has now launched the ability for users to utilise MA and RSI increase and decrease within their rules, giving you even more customisability!

What are RSI and MA?

The RSI, or relative strength index, is a technical indicator frequently used in trading. It works by measuring the speed and change of price movements to determine whether a coin is oversold (indicating a good entry point) or overbought (indicating a point of exit/entry for a short position). The RSI oscillates between 0 and 100 and is traditionally considered overbought when over 70 and oversold when below 30. Essentially an overbought coin is considered more expensive than it should be, and an oversold coin is considered cheaper than it should be. When the RSI of a coin reaches these two key levels, it indicates that it could be primed for a trend reversal, marking a good potential entry/exit point.

MAs, or moving averages, are among the most common trading indicators. They are straightforward to interpret and effective to use. They work by taking the averages of a specified number of price periods. For example, MA50 takes the average of the previous 50 periods. MA9 (the average of the previous nine price periods) reacts very fast to price moves providing prompt signals. On the other side, more signals may result in more false signals and more trades in a loss. On the contrary, moving averages calculated with a higher number of periods like the MA100 (which considers the previous one hundred price periods) give more reliable signals, but with a delay.

Coinrule previously had support for MA and RSI, so what’s new?

Our latest update allows users the ability to set a condition for RSI to increase/decrease by a specified amount within a timeframe:

For example, if the RSI increased by 5 points within a short space of time (e.g. 15 minutes), it could show that the coin has strong momentum. This could act as a potential indicator for an entry point as the coin could continue to perform well. Conversely, if the RSI decreased by 5 points within a short time frame, it could act as an indicator to exit a position. You could also use this as an indicator to enter a short position on some of our leveraged exchanges.

Similarly, users can also set conditions for a moving average to increase, or decrease, by a specific percentage, USD, or BTC value, giving users even more customisability with the MA conditions in their rules:

Binance One-Click Authentication

Connecting an exchange to Coinrule has never been so easy. With Binance one-click, spend less time connecting exchanges and more time trading. No more whitelisting APIs and manually setting permissions. To connect Coinrule to your Binance account, simply navigate to the exchanges page on Coinrule, click ‘Connect’, follow the prompts, and you’re ready to go!

Notify

Whether you’re a crypto day trader or employ more of a passive approach, you can take your trading to another level with our new Notify feature. The most recent Coinrule update allows you to set up an action to contact you via email or Telegram once specific pre-designated conditions are met, providing you with even more customisation options for your rules.

So what can this feature be used for?

With Notify, you can set up a rule to alert you once specific market conditions are satisfied. For example, if Bitcoin’s relative strength index (RSI) reached an overbought level, it could be primed for a reversal. Considering the price direction of Bitcoin traditionally influences the price behavior of other coins in the market, it could be of great value to be notified when the RSI of Bitcoin reaches these key levels. Although Coinrule has the capability to automatically execute trades when specific conditions are met, users may want to manually examine the current state of the market and then decide whether to buy, sell, or do nothing. Notify provides you with the ability to analyse the market then decide the best course of action there and then. The above is a basic example of the type of scenario that Notify could be implemented in, however, users can take this much further and create complex rules that automatically alert them once a variety of conditions are met. Users could include conditions that include volume levels, moving average (MA) crossings, RSI levels, and much more:

But how do I link Telegram to Coinrule?

You can link your Coinrule account to Telegram by navigating to the settings in Coinrule and following this guide.

Bundles

Coinrule’s latest product update allows users to program their rules to only operate on specific bundles of coins whilst excluding all other coins in the market. Users can choose to create their own bundle or use any of our curated Coinrule bundles.

So what Bundles are available?

We have five available bundles ready to use with more being added soon:

DeFi- This Bundle will focus your rule to only trade coins that are related to decentralised finance. DeFi is targeting a $100 trillion dollar industry and is the biggest use case for crypto.

Top 10 Market Cap- This bundle will allow your rule to only trade the 10 highest market cap coins. These coins should have strong volume and liquidity meaning they can work well when using limit orders. This bundle excludes stablecoins that are in the Top 10.

PoS Layer 1s- This bundle specifically features coins that are layer 1s and use a proof-of-stake consensus mechanism. Proof-of-stake secures the network through validators staking their coins and compared to proof-of-work is more energy efficient. Increasing ESG compliance has led to these coins increasing in popularity with high potential that this trend will continue.

NFTs- This coin bundle bases all trades on coins that are NFT-related. When the NFT hysteria returns as NFT adoption increases, this is the bundle to use! During the previous bear market, NFTs were also some of the hardest hit making them possible candidates for shorting.

Gaming- This bundle allows your rule to only trade gaming-related coins. Gaming is arguably one of the most obvious industries for increased property ownership provided by NFTs and blockchain. Will the mass of gamers step on board the crypto gaming train?

But what if I don’t like any of these bundles?

Users can design their own bespoke bundles to trade with. When selecting coins on the rule editor page, simply add all the coins you wish to add to the bundle then click “Create bundle”:

So what can Bundles be used for?

Bundles can allow you to hone your rules to only operate on coins that are in line with your strategy. Imagine you’re very bullish on the future of the NFTs. You could design a bot that buys any coin in the NFT bundle whose price has decreased by 5% in the past 24 hours. You could use this specification to prevent your rule from buying tops and automatically accumulate coins in the NFT space and hold them for the long term:

Similarly, if you don’t like your rules trading with gaming coins, you could simply use the DO NOT operator and specify your rules to not buy any coins contained within the ‘Gaming’ Bundle:

RSI Crossing Above and Below

There is a large variety of uses for the widely used Relative Strength Index (RSI) indicator. We have now added another dimension of customisation with the ability to set conditions based on the RSI value crossing above or below a certain level.

This can be used within your rules to time reversals in the RSI or to buy strength or sell weakness when RSI manages to break above or below certain levels.

As shown on the chart below, price and RSI react strongly to the 70, 50 and 30 levels. On higher time frames, such as the 4-hour featured here, the 50 level can act as strong resistance and support with a cross above signalling strength and a cross below signalling weakness.

The rule below provides an example of how this new feature can be used. The rule will buy once RSI crosses above the 50 level (4-Hour) with price greater than the MA 100 (1-Hour), accompanied by a 0.5% increase within 1-Hour.

The rule will then sell once RSI is greater than 60 (4-Hour) and price has increased by at least 2% from entry price — acting as the take profit. Alternatively the rule will sell once RSI crosses below the 50 level (4-Hour), signalling the coin is experiencing weakness with the trend reversing if RSI breaks below the 50 level.

Customize your trades with Coinrule! Happy trading!