Signals plans to optimize all trader profits via their state of the art algorithms designed by the science community. They do this through their platform which offers traders the opportunity to formulate strategies they can implement while trading. The formulation of a plan starts with picking a data set, using different indicators to analyze this information and lastly designing a trading strategy according to the analysis and findings derived from the dataset. What you should have as a trader at the end is a robust algorithmic trading strategy that you can test and implement.
The Signals platform has three marketplaces that help you find the resource to put together a plan. They are data, indicators, and strategy. They form the basis of automating a trading strategy. You can find these tools on Strategy Builder. For those who know Python, you have the option of building a plan by coding. If you don’t know how to code, don’t worry, the platform also offers the opportunity of using visuals to piece together your trading plan.
For an active strategy, data is the essential part of formulating powerful analytical tools. Using the platform, both users and external vendors can monetize data sets that are unique to them in the Data Marketplace. These include current and historical data from the market, social networks and another crypto related medium of information. Any data of this nature can be uploaded onto the marketplace and priced accordingly. Data crawler integration is quick and seamlessly done using Signals Data API. It provides API access to third-party data or lives data streams.
Once you’ve selected your data, the next step is processing, calculating and displaying the data in an understandable format. Indicators based on crowd wisdom and prediction markets, neural networks, advanced data science or technical analysis can be used to break further down the information that’s currently in its raw format. Signals will use eight indicators.
The basic freemium indicators will monitor crypto asset prices and transmit signals based on ‘if-then’ conditions. This tool will be useful for both experienced and mainstream crypto traders. The second indicators are technical analysis, and they work by using historical data to reveal trends and patterns in the market. This statistical approach is essential and is paired with other methods of data analysis. Sentiment analysis indicators are merely that; they use natural language process the opinions, or sentiments, on the media focusing on cryptocurrency and social networks.
Machine learning based indicators are a mixture of support vector machines, in-depth knowledge and particular neural networks designed to process time series. Indicators based on crowd wisdom work on the premise that you can determine the direction of an economy by surveying the masses. Users seek to monetize their unique knowledge, where if they predict an outcome correctly they get a profit if not, money gets lost. This data is encapsulated and quantified and located in the marketplace.
Blockchain monitoring is an indicator that makes transparent where major token holders are buying or selling their holdings based on coin movement. GitHub commits indicators monitor GitHub commits and changes and get immediate updates on coins and tokens. Lastly, platform users have the option of selling your custom indicators based on their knowledge and tested strategies.
This subscription-based service allows traders and developers to share their trade strategies and have users purchase and use them as their bot. This approach is advisable for new users who might not know the elements of a good trading plan. Reports are generated for each strategy, outlining the performance, risk, and statistics for a trader to assess its viability.
The tools available on Signals’ marketplace, equips any user with the tools to formulate a winning strategy for both beginners and experienced users.
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