Coygo Update 5-21-2019 Trade Data Improvements
Coygo users and cryptocurrency traders, we’ve got details on the latest update for the Coygo application. This update focuses on data visualization and a better trading experience.
If this is your first time hearing about Coygo, we provide a secure multi-exchange cryptocurrency trading terminal. Coygo is a downloadable desktop application for Windows, Mac and Linux that allows traders to connect all of their exchange accounts to have a single, secure interface to track account balances, submit trades, execute transfers between accounts, and lots more. Unlike most other solutions, your API credentials are **only **stored securely on your machine, we never have access to your funds or accounts. All trades and transfers are submitted directly from your machine, our servers never touch your accounts or account credentials.
If you live in the U.S. and you would like to help us shape the future of Coygo, we welcome you to sign up for our beta at coygo.app, which is currently free of charge.
Display USD value of trades before submitting
Some traders prefer to display their balances in BTC and have a goal of trading alt coins in order to gain BTC. Other traders prefer to see all balances in USD and just want to increase their portfolio’s USD value. For those who focus on USD, it can sometimes be difficult to know how much USD your trade is actually worth before submitting since your trading pair might be between two coins such as BTC and BNB or ETH and XRP.
Estimated USD value before submitting a trade
In the screenshot above, you can see that before submitting a stop-limit buy order to the Binance BNB-BTC market, our buy total is 0.012619775 BTC. Next to the Total (BTC) it shows that this trade is worth an estimated ~$100 USD. This is estimated using public market data to determine the current value of BTC and is not guaranteed to be 100% accurate to the penny, but it should give you an idea of how much your trade is approximately worth. No more having to check the price of BTC before submitting a trade and doing the math yourself!
Bollinger Bands indicator
Previously we had all price charts display indicators for Volume, MACD (Moving Average Convergence Divergence), RSI (Relative Strength Index) and HV (Historical Volatility). Our goal is to provide a few default indicators that can help traders quickly assess a market, determine trends and find buy or sell signals. After talking to a number of traders and learning more about the tools they use we have decided to replace the HV indicator with Bollinger Bands as they are very popular with many traders and can help determine squeezes or breakouts and quickly analyze volatility and volume.
Bollinger Bands indicator on price chart in Coygo
Charts for assessing overall market trends
Our Market Data screen is primarily for assessing the overall market and finding trends to help traders find buy or sell opportunities for the day. We have added three charts to this screen, each with an included Linear Regression indicator to help determine an estimated trend for where each chart is headed. The three charts are Total Market Cap $, Total Market Cap Excluding BTC $, and BTC Market Cap Dominance %.
Total Market Cap and BTC Market Dominance charts with Linear Regression
In this instance we can see that Total Market Cap Excluding BTC $ is in an uptrend and BTC Market Cap Dominance % is in a downtrend, with the Linear Regression indicator showing an estimate of where the chart might be headed. This might help a trader determine that they want to enter positions in some alt coins as the alt coin markets are moving forward and separating themselves from BTC.
Until next time
Thanks for keeping up with Coygo’s development! We will continue to share our progress as we gather feedback from our users and improve the application to provide the absolute best experience for digital assets traders with accounts on multiple exchanges. We have some big things planned for upcoming updates and we can’t wait to see what our users think!
As usual, we welcome you to sign up to participate in our free beta at coygo.app if you live in the United States. Your feedback is very valuable to us!
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