The crypto industry is attracting many people these days as crypto-verse has become an exciting topic recently. Many people make constant profits from this marketplace, and many lose their money. One of the best ways to differentiate these winners and losers is the charting tools. Winners always use the best tool available in the marketplace.
However, many options are available, and not all are equal as each contains unique features. This article will introduce you to the best charting tools that you can use to enhance your trading experience.
How will a charting tool help me?
When you are a crypto trader, you may be spending a lot of time looking at various charts and graphs to determine how price is trending, where to enter the market, the current sentiment of traders, etc. Expert crypto traders use the best available charts and metrics to conduct technical analysis (TA) and determine trading positions.
A charting tool will enable you to visualize the market using different useful trading indicators and tools such as trendline, candlestick patterns, finding support resistance levels, etc. Practicing these elements will ultimately increase your skills and enable catching the most potential trades. If you have sufficient skills in TA, you will win big, and for that, it requires using the best charting tools.
The top five crypto charting tools
This part will list the best crypto charting tools by comparing them from several angles. There are many chartings tools for crypto are available that individuals can access from anywhere of the globe, and the best five among them are:
It is one of the best crypto charting tools that contains indicators, strategies, and professional tools for all active crypto traders. If you are participating in the crypto marketplace, no wonder that Tradingview will be at the top of the list as it offers many positive features and real-time price movement data in different time frames.
This charting tool allows you to create desirable charts that suit your trading style, or you can choose designs from millions of users worldwide. You can consider it a hub to find and share crypto trading ideas.
Tradingview also enables signing up for premium plans that provide users many features and flexibility, including:
- Ability to save and view multiple chart layouts.
- Adding unlimited crypto pairs/coins on users’ watchlists.
- Compare and overlay various symbols and assets (ex. gold vs. Bitcoin).
- Enable backtesting crypto trading strategies.
- Enable adding up to five indicators on each chart.
- Setting alerts on charts depending on indicators or price.
This site collects data from several crypto exchanges such as Coinbase, Binance, Bittrex, FTX, Bybit, Biki, Bitfinex, etc.
The second of the top five charting tools on our list is Coinigy, a popular altcoin charting, and portfolio management website. This charting tool is worth checking out if you look for professional-grade crypto charting. The design of Coingy fulfills all essential requirements of technical analysts with experience.
It enables accessing more than 75 technical indicators and trade, real-time API, historical data, and many more. Coinigy has data connectivity from more than 40 major crypto exchanges, including Binance, BitMEX, Bitflyer, Bitfinex, Deribit, OKEx, CEX.IO, Kraken, and many others.
It allows trading directly from charts, so individuals don’t need to open multiple tabs every time while opening an order. Moreover, this platform offers several professional analysis tools, including price alerts, trade notifications, and margin trading.
Premium membership plan starts from $15 per month, and it won’t charge any commission on trades.
The following best crypto charting tool on our list is Shrimpy, one of the remarkable charting software for professional traders. It uses a robust backtesting algorithm that allows individual traders to test various portfolio management techniques. This platform’s unique feature is using simple percentages with a visual snapshot; any individual trader can visualize their overall allocation of crypto coins on different crypto exchanges.
Brokers, exchanges, or other third-party tools can import historical data on their systems using the Shrimpy application programming interface (API). Standard features for beginner crypto traders in Shrimpy are:
- Earn commissions for each social follower trader.
- Managing the entire portfolio with this crypto tool and simple interface.
- It enables connecting multiple exchanges into a single platform.
- Users can automatically adjust investment strategies and track their portfolio performance.
- It allows individuals to automate trading strategies using different trading tools and indicators.
Shrimpy usually offers three different features for users, such as:
- HODLer: free
- Professional: $19/month (annual billing)
- Enterprise: customize to suit user desire
The following best crypto charting tool is CryptoWat.ch which shows real-time info of the crypto marketplace. Artur Sapek is the founder of this platform, and the foundation year is 2014. This platform tracks several crypto exchange platforms to obtain market data, including Bitfinex, Binance, Coinone, Bisq, Bit-Z, Kraken + Kraken Futures, BitBay, FTX, bitFlyer, Bitstamp, Bithumb, Bittrex, BitMEX, Gemini, CEX.IO, Coinbase Pro, OKCoin, Deribit, HitBTC, Poloniex, Huobi, etc.
CryptoWat.ch has an interactive global chatbox where individual traders can communicate with many other crypto investors. It enables an option to embed charts on blogs or websites, which many consider a unique feature, and this charting tool has become popular for this feature. You can consider it a live cryptocurrency market data charting, portfolio tracking, and an open-source website that offers a mobile app version for android devices.
The last charting tool on our top five list is Quadency, an all-in-one website that allows connecting users with multiple crypto exchange platforms to chart and trade from a single platform. It provides a simple interface that allows users to create their strategies using different graphs such as Kagi Trend Channels and correction matrixes.
The most unique feature of this charting platform is that individual investors can see professional market participants’ trades from this platform’s “live trading” section. It also contains an excellent forum where you can discover, share or even meet with like-minded people. Moreover, it enables accessing many live webinars and learning more about cryptocurrency trading.
Pros and cons
The best charting tools will provide easy-to-use interfaces and all data you need to create or practice sustainable trading methods. We list above the leading crypto charting tools on which professional crypto traders depend while making trade decisions.