Why you should build your own price alerts

Author: Rj
Rj on August 25, 2020
SpacePhoto by Jean van der Meulen from Pexels

In comparison to the traditional markets such as the stock exchange, the cryptocurrency market never sleeps as it’s a global market similar to Forex.

This property is one of its most attractive qualities as it opens up a lot of possibilities in finding patterns or market inadequacies, which can lead to huge amounts of profit. This appeal, however, has its trade-off as it’s practically impossible for us to monitor the market 24/7. Our strategy plays a huge role on how we get the most out of the market, given the possibility of potentially missing out on big price movements.

Regardless which side of the argument you’re on, a price alert system benefits both parties. I would even go as far and say that this this tool is a requisite for every trader.

How do I get price alerts?

Some of the tools that we can use are mobile apps and build-your-own dashboards.

1. Mobile apps

Everyone has probably downloaded some kind of portfolio tracking app before. Mobile apps are a good starting point in getting an alert system given the convenience: you just need to install and then you’re pretty much done. While this is the easiest to set up, it is not the most flexible option for a few reasons. It relies heavily on your mobile’s constant internet connection and battery; it’s only limited to linear alerts and doesn’t look at other capabilities such as sending the alert data to whatsapp or even your telegram group.

2. Build your own

Building an alerts system is as easy as a few clicks with our platform. Even better, coinfu.io can also perform technical analysis to help traders introduce logic into their notifications.

These alerts can include, but are not limited to, getting notified when Bitcoin reaches a certain threshold, when a currency crosses over the 200-day simple moving average, or whenever Bitcoin, Ethereum, and Litecoin all go below the 50-day exponential moving average. coinfu.io removes the manual work of checking the market constantly, and helps you become efficient in managing your work.

Notify me when Bitcoin reaches $20,000.00

by coinfu.io
Binance: New ticker eventFilter: Ticker closing price is greater than 20,000Filter: Send alert

Send me an alert when Bitcoin crosses it's 200 day Simple Moving Average

by coinfu.io
Coinbase Pro: New ticker eventTechnical Analysis: Compute 200 day SMAFilter: Ticker closing price is greater than 200 day SMAFilter: Send alert

Send me an email when Bitcoin, Ethereum, and Litecoin go below their 50 day Exponential Moving Average

by coinfu.io
Bitstamp: Completed order eventTechnical Analysis: Compute 50 day EMAFilter: Ticker closing price is less than 200 day SMAFilter: Send email

What’s next?

This is just an example of what you can accomplish with our platform. coinfu.io supports a large number of services so you can enhance your workflow any way you want.

Start automating and take your workflows to the next level.

Thanks for reading,

Author: Rj
Rj from coinfu.io

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