Startup for Technical Indicator Alarms

[zzman]

Hey everyone,

I hope you're all having a great day. I wanted to share my story with you all. I'm a Software Engineer. A few years ago, I started with crypto trading. I was excited about the potential of cryptocurrency and I wanted to make some money. However, things didn't go as planned. I ended up losing a lot of money.

I realized that trading was taking up a lot of my time and effort, and I wasn't getting the results I wanted. I started looking for tools that could help me make better trading decisions, but I couldn't find anything that met my needs.

That's when I decided to create my own tool. I'm planning to launch a new startup that will provide technical indicator alarms for crypto assets. You'll be able to select the technical indicators you want to receive alerts for, and you'll get a notification when the alarm is triggered. I believe this tool will help you save time and effort, and make better trading decisions.

Here's how I imagined a use-case: If a user selects Bitcoin and the technical indicator "Moving Average Convergence Divergence (MACD)," the tool will monitor the MACD and alert the user if the MACD crosses above or below the signal line, indicating a potential buy or sell signal. Another example would be alert if RSI for [cryptocurrency] is near 30. You'd have a slider to select in % how near should the alarm trigger. Other indicators I plan to add are: EMA, SMA Williams R, Bollinger bands, death/golden cross alert, etc.

My question to you is: Would you be interested in such a tool? I'd love to hear your feedback on this idea. What features would you like to see in a technical indicator alarm tool? Let's make trading easier and more enjoyable for everyone.

P.S. I'm partnering up with 3 other colleagues (another Software Engineer and two traders that have 10+ of experience in trading. One of them was active on Quantopian and he managed to create very successful trading strategies), so I know that we have the capacity to make anything.

[Oshosondy]

If your tool is good, some people will be interested. But as for me I do not need such tools, I have been using those exchange indicators for everything that I need about trading.

If what you are saying is true, it will bring a convenient way for trading, but that does not mean the trader will make profit. You can set RSI alert to 70% and you sell, but that may be the start of a bull market in a way the indicator may stay around 70% or increase higher as a result of the price of the coin you are trading continue to increase.

What I am just saying is that indicators can fail, but having the alert for the indicators can be helpful against checking the chart all the time, which can reduce the time spent for trading.

[zzman]

Thank you for the feedback.

I'm aware that there's no guarantee to be profitable by just looking at the indicators. If it's not a huge favor, could you tell me which software you use to track these indicators?

[hugeblack]

I think I will be interested.
You can divide the matter into a free section that you only need to register an account and you will get alerts for 5 or 10 technical indicators and a paid section in which more options and better recommendations are.

The method of displaying data is what makes your project successful or dead, so take care of it.
In the future, an internal forum can be created where users can speak and create their own notifications.

[zzman]

@hugeblack Thank you for the feedback.

Of course. Registered users would gain access to several free indicators. Could you please tell me which indicators you would like to see?

When it comes to the types of alert, free users could receive only web notifications and emails, since SMS and phone calls would require me to use some 3rd party service which are paid.

Thank you for pointing out the design part. The goal I have in mind is to display the information as clear as possible.  Also the alarm creation should be reduced to least number of clicks. While I was researching the available tools I was amazed how unnecessary complicated they created the design.

[Peanutswar]

I started before in just watching videos and one of the technical indicators mastered is the MACD and I created a topic before that I guess other newbies can use too, its just a basic of the support and resistance and possible position to buy or sell.  [GUIDE]Moving Average Convergence Divergence (MACD)

[zzman]

I started before in just watching videos and one of the technical indicators mastered is the MACD and I created a topic before that I guess other newbies can use too, its just a basic of the support and resistance and possible position to buy or sell.   [GUIDE]Moving Average Convergence Divergence (MACD)

Thanks. This looks very informative.  I'll definitely keep this in mind when I start implementing MACD alerts. Do you have ony other indicator which you'd like to receive an alert for?
When it comes to MACD. Would you like to have an alert for signal line only or..?

[hugeblack]

When it comes to the types of alert, free users could receive only web notifications and emails, since SMS and phone calls would require me to use some 3rd party service which are paid.

Most of us avoid giving many information about them, so do not think about SMS and Phone Calls only email notifications or within the site will be appropriate.
Therefore, the method of displaying data and completing it is better than notifications, given that the change is longer than a day and therefore does not need to respond in real time.

[dimonstration]

Tradingview has this kind of feature which I’m using before for my buy and sell signal during the days when I’m doing a day trading. You can access this feature even with free account by just clicking the alarm clock icon on trading view.

Here’s the sample alarm that I used before on MACD and RSI indicator:


You can use this link for the indicator alarm script on tradingview: https://www.tradingview.com/scripts/alarm/

[palle11]

This will be an interesting support to trading and I believe if you get your plan very well then you will get more people to like it. In the regards of bollinger band, how do you intend the alarm to trigger off? It is crossing up or down because bollinger can also be used to determine volatility and yet it could be silent sometimes.

However the alarm too will help more to ease stress of always checking out your trade at very short intervals.

[zzman]

Tradingview has this kind of feature which I’m using before for my buy and sell signal during the days when I’m doing a day trading. You can access this feature even with free account by just clicking the alarm clock icon on trading view.

Here’s the sample alarm that I used before on MACD and RSI indicator:
https://i.imgur.com/OAqIZBD.jpg

You can use this link for the indicator alarm script on tradingview: https://www.tradingview.com/scripts/alarm/

I'm aware that Trading view has indicator support.
My idea differs in two things at the start, and there will be more:
1. With Tradingview, you have to work manually for each coin you are interested in. I plan to create it such that you can get an automatic notification for all coins where there is a change in the indicator; that is, with Tradingview the focus is on the choice of coins, and with us on the indicator
2. On Tradingview you have 10 free alarms until you upgrade the program; I plan to limit it to the number of indicators, for example, you could have MACD indicators for all the coins that I plan to support (for now BTC, ETH, SOL, ADA, BNB, but that's just in the beginning - the goal is to support 10K+ cryptocurrencies)

This will be an interesting support to trading and I believe if you get your plan very well then you will get more people to like it. In the regards of bollinger band, how do you intend the alarm to trigger off? It is crossing up or down because bollinger can also be used to determine volatility and yet it could be silent sometimes.

However, the alarm too will help more to ease stress of always checking out your trade at very short intervals.

Thank you for pointing that out. I still have to consult with my trader colleagues, but here are some ideas that came up to my mind:
1. Alarm to show how tight/separated the bands are to show high/low volatility or begin of a trending move
2. Alaram turns on when the price touches the band, or just before it reaches it (here you could define with a slider the distance between the price and the bands. Based on the distance, an alarm would trigger

What do you think about these ideas? I'd love to hear your opinion, as well as the opinion of others

[Oshosondy]

I'm aware that there's no guarantee to be profitable by just looking at the indicators. If it's not a huge favor, could you tell me which software you use to track these indicators?

I have heard some people that make use of TradingView, the paid one though. What I mean in my post is that I do not use paid indicators which can do such work and I mean that you are welcome with your idea.

How about RSI? As for the ones that I know, you will be able to set the number from 0 to 100 that you want the alarm to trigger, I hope OP indicators alarm would work like that too, in a way you can set it to any number that you want.

However the alarm too will help more to ease stress of always checking out your trade at very short intervals.

For many traders, you have to be looking at the chart to know when the market price of a coin has already touch certain part of an indicator, with the alarm, you do not need to always watch the screen or be checking the chart always.

[Eternad]

This is a technical indicator alarm if you can manage to add a sms notification to make user aware what’s happening behind when the data is off. I believe I saw this kind of idea before on the forum and he has already a working prototype app. I forget who’s the user but you’ve got same idea over this kind of alarm app.

Nevertheless a tool will always be helpful. I will be to try your apps once it’s already available. One thing I would love to see is the ability to choose an exchange for the token.

[Mpamaegbu]

2. Alaram turns on when the price touches the band, or just before it reaches it (here you could define with a slider the distance between the price and the bands. Based on the distance, an alarm would trigger

What do you think about these ideas? I'd love to hear your opinion, as well as the opinion of others

I would like to find a situation where we don't have to do an OR to pick a trade that's expected to head in the same direction. It's going to be a mere guess work if that happens. If we're going to rely on BB to determine a trade for, let's say, a buy; then it should be accurate when it touches a certain point or does a certain thing. Vice versa. It shouldn't be a guess work like the "or" situation. We can factor in "or" when we think a buy or a sell will happen, and not when we're looking at a specific. That's my concern. How do you eliminate such?

[palle11]

2. Alaram turns on when the price touches the band, or just before it reaches it (here you could define with a slider the distance between the price and the bands. Based on the distance, an alarm would trigger

What do you think about these ideas? I'd love to hear your opinion, as well as the opinion of others

This is quite interesting but you remember bollinger band is not just an indicator that determines the continuous movement on upward or downwards after it has touched the bands. This is because it can as well change direction just after it has touched up and it starts running down, so how do you determine this with the alarm also. Bollinger band is very sensitive in nature and can confuse a trader very fast.

[yhiaali3]

There are a lot of mobile Apps that give certain types of notifications about important indicators such as RSI, SMA, MACD and others, so many users may want to use such an application if you have the ability to program a more sophisticated one with more improvements.

Also, a Telegram bot that gives such notifications can be attractive to many who prefer to use Telegram to receive notifications.

[zzman]

2. Alaram turns on when the price touches the band, or just before it reaches it (here you could define with a slider the distance between the price and the bands. Based on the distance, an alarm would trigger

What do you think about these ideas? I'd love to hear your opinion, as well as the opinion of others

I would like to find a situation where we don't have to do an OR to pick a trade that's expected to head in the same direction. It's going to be a mere guess work if that happens. If we're going to rely on BB to determine a trade for, let's say, a buy; then it should be accurate when it touches a certain point or does a certain thing. Vice versa. It shouldn't be a guess work like the "or" situation. We can factor in "or" when we think a buy or a sell will happen, and not when we're looking at a specific. That's my concern. How do you eliminate such?

I'm not sure if we're on the same page, so let me briefly explain what I meant in the 2nd point. It's not that you'd have only one option available. You could enter a specific threshold at which YOU want to trigger the alarm and if not, the alarm would trigger when the price touches the band. You'd be able to create several Bollinger band alarms, some that get triggered when the price touches the band, and some with a defined
threshold

I'm aware that there's no guarantee to be profitable by just looking at the indicators. If it's not a huge favor, could you tell me which software you use to track these indicators?

I have heard some people that make use of TradingView, the paid one though. What I mean in my post is that I do not use paid indicators which can do such work and I mean that you are welcome with your idea.

How about RSI? As for the ones that I know, you will be able to set the number from 0 to 100 that you want the alarm to trigger, I hope OP indicators alarm would work like that too, in a way you can set it to any number that you want.

However the alarm too will help more to ease stress of always checking out your trade at very short intervals.

For many traders, you have to be looking at the chart to know when the market price of a coin has already touch certain part of an indicator, with the alarm, you do not need to always watch the screen or be checking the chart always.

Ah okay. I thought that you were already using something like my startup idea
Sorry, but I'm not sure what do you mean by OP indicators? Do you mean Opening Price? To have an alarm that would be triggered if the Opening Price of [cryptocurrency] is less/greater than [defined_value]?

[Oshosondy]

There are a lot of mobile Apps that give certain types of notifications about important indicators such as RSI, SMA, MACD and others, so many users may want to use such an application if you have the ability to program a more sophisticated one with more improvements.

In crypto, I do not yet know of free indicators that will give you alarm for several indicators. I only know of setting price and you can be notified when the price is gotten to. But if talking about notification messages for indicators like BB, RSI and other indicators, I have only known of the paid ones. I have heard that some exist freely in forex trading, but I do not know how true it is because I am solely a crypto trader.

I'm not sure if we're on the same page, so let me briefly explain what I meant in the 2nd point. It's not that you'd have only one option available. You could enter a specific threshold at which YOU want to trigger the alarm and if not, the alarm would trigger when the price touches the band. You'd be able to create several Bollinger band alarms, some that get triggered when the price touches the band, and some with a defined threshold

That would be nice and excellent, especially if there is notification when the candle stick price of a coin set reaches the upper, middle or lower band which is what traders are more concerned about.

Sorry, but I'm not sure what do you mean by OP indicators? Do you mean Opening Price? To have an alarm that would be triggered if the Opening Price of [cryptocurrency] is less/greater than [defined_value]?

It is nothing, never mind about it. OP means opening post and it is used to refer to someone that started a thread just like you started this thread, you are the OP of this thread. You can even see that on your username when posting on this thread.

[zzman]

2. Alaram turns on when the price touches the band, or just before it reaches it (here you could define with a slider the distance between the price and the bands. Based on the distance, an alarm would trigger

What do you think about these ideas? I'd love to hear your opinion, as well as the opinion of others

This is quite interesting but you remember bollinger band is not just an indicator that determines the continuous movement on upward or downwards after it has touched the bands. This is because it can as well change direction just after it has touched up and it starts running down, so how do you determine this with the alarm also. Bollinger band is very sensitive in nature and can confuse a trader very fast.

Yes. We are aware that Bollinger bands can act as momentum/trend continuation indicators when the price breaks out of them in both directions or a reversal one when the price goes back into the BB area after it has previously already broken out of it. Also, we can compute how wide the BB is in both nominal and relative price terms which would indicate how compressed or volatile the previous price action in the band is. So in total, that would be five different  uses of the same indicator

[lixer]

There are a lot of mobile Apps that give certain types of notifications about important indicators such as RSI, SMA, MACD and others, so many users may want to use such an application if you have the ability to program a more sophisticated one with more improvements.

Also, a Telegram bot that gives such notifications can be attractive to many who prefer to use Telegram to receive notifications.

Apps like these are useful because we can now get alerts on our phones if we are outside and not in the front of the computer. If we have an experience or a little knowledge in coding, we can use this to develop our own app because we might feel that something is missing on the existing apps that we have today. There's one user on the forum who did the same and he shared his own trading app here.

Too bad I forgot the title of his thread but once I remember I will go back to post here and maybe you guys will like that app he created. Telegram is a nice messaging tool but if we can squeeze all the signals here then why not? That saves us more space in our phone.