Coinrule – Trading with Automated Rules – Crypto Mode
If you’re looking for an automated trading platform that enables trade for Binance, Kraken, Coinbase Pro, and other exchanges, Coinrule is the place to go.
They offer the optimal environment for everyone interested in incorporating the RSI bot into their trading strategy.
Coinrule makes it possible to have access to these methods with their free plan, with no additional fees, that can be used by everyone interested in trading bots.
What is Coinrule?
Coinrule is a crypto trading tool that has implemented smart trading bots that make it easy to automate crypto trading strategies.
The platform has numerous comprehensive tactics from which you can choose. And if you are unsure about the trading methods, you will get the chance to select from over 180 pre-existing trading templates.
Yet, the number of rules that can be used, the number of exchanges that somebody can connect to, trade volume, and the available trading templates depend on their account plan.
Coinrule has 4 account tiers: starter (free), hobbyist, trader, and pro. And as you may already suspect, the more advanced the account plan is, the more features it will include.
How does the backtesting work?
For every investment that is done, previous performance is not indicative of future results. Yet, testing your trading strategies using past market data, on the other hand, might be beneficial.
With Coinrule, this is possible by trying a variety of trading techniques.
All you have to do is choose a coin, a time period, and a trading method before you begin trading.
Then, you can use TradingView to see how many trades the strategy initiated and closed, following these values:
- Net profit it would have returned
- Percentage of profitability
- Maximum drawdown
- Profit factor
How does Coinrule perform?
Recently the team behind the platform set up a rule which automated the Scalping Dips process. Normally on other platforms, the process has to be done manually to buy coins on large dips and then sell them when their price appreciates.
However, by automating this process, Coinrule set up this approach to buy highly oversold coins and sell them when their price rises.
To find oversold coins and on large dips, they use the Relative Strength Index (RSI). For this purpose, it uses price fluctuations to assess if a coin is oversold (showing a favorable entry opportunity) or overbought (marking a bad one) (indicating an exit point).
According to the RSI a coin may be considered overbought when it’s over 70 points and oversold when below 30.
It would be virtually impossible for somebody to manually find and purchase all the coins with an RSI this low. However, Coinrule makes this possible.
Coinrule comes to offer an automated trading tool meant to free up traders’ time. The indicators are implemented carefully, yet they should not be considered an infallible way to profit.
In order to see what else they have prepared for their community and what are the new trends you can follow them on:
Facebook, Twitter, Instagram, and Youtube.
Automate your investments today with Coinrule’s automated trading bots.
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