This month, the Cryptowatch team shipped significant updates to make technical analysis alerts more powerful and customizable than ever before.
We’ve completely overhauled the old “create alerts” form, added new right-click functionality to set TA alerts directly on the chart, and lastly enabled Cryptowatch notifications to trigger based on a multitude of price or technical analysis events happening on the same, or even completely different, markets!
In this blog you’ll learn about the following updates:
- Creating Technical Analysis (TA) Alerts
- How to Configure Repeat Alerts
- Setting Price & Volume Alerts
- Evaluate Alert on Close vs. Tick
- Complex TA Comparisons
Read on below about our new and improved alerts capabilities to help find your edge in the markets.
Technical Analysis Alerts Now Available
For starters, alerts are now supported for 30+ technical analysis indicators and overlays. These alerts can be triggered for free in the browser or via mobile push notifications (if signed-in on the Cryptowatch mobile app) or for a one-credit fee via SMS and email. Naming alerts and setting reminder notes are always free.
Here’s how to quickly set an alert that triggers on a price cross for the Ichimoku Cloud overlay:
- Right click the chart to bring up the context menu
- Scroll to Create a technical analysis alert
- Select Ichimoku Cloud (abbreviated as IchCl).
Pro Tip: For indicators like RSI, right-click the inside the indicator to set an alert. This alert will trigger when the RSI crosses the y-axis value where you right-clicked to set the alert.
Instead of creating the same alert again and again, traders can toggle alerts to be re-enabled after a selectable cooldown period. The cooldown period acts as a buffer between the alert triggering and its reactivation.
From taking multiple scalps a day on your favorite markets to setting repeat alerts to remind yourself to sweep the floor for your favorite NFT collection, the possibilities are endless!
Set Price Notifications on the Events That Matter
Previously, price alerts would only trigger based on the last-traded price. Now Cryptowatch traders can set alerts for an array of value: last, open, close, median, high, low and more.
Pro Tip: If you want to set a classic Cryptowatch price alert, use Last.
Triggering Alerts on Candle Close
Evaluate on close alerts wait until the end of the candle close to determine whether the condition has been met. Alerts set in this way can only trigger at the end of the candle interval.
Example: Volume Alerts
An evaluate on close alert will wait until the candle closes before gathering the final volume traded in that interval. In comparison, evaluate on tick alert will accumulate the volume in the candle on every tick, starting at 0 when the candle opens.
Pro Tip: If you want to know the exact moment the volume of the candle exceeds a specific level, use evaluate on tick. If you only want to know about the final volume of the candle, then you should use evaluate on close.
Example: High Candle Close Alerts
An evaluate on close alert will wait until the candle closes before gathering the highest traded price for that interval. If you instead chose to evaluate on tick, the alert takes on increasingly higher and higher values every price tick until it can no longer find one. The high resets to the first price update at the open of every new candle.
Pro Tip: If you want to know the exact moment the high of the candle goes above a specific level, use evaluate on tick. If you only want to use the final high of the candle, then use evaluate on close.
Example: Simple Moving Average (SMA) Alerts
An evaluate on close alert will wait until the candle closes, then calculates the SMA using the close price of the last 7 periods. Where as using evaluate on tick will use the close price of the last 6 periods + the last price of the candle to calculate the SMA.
Pro Tip: If you want to be notified of a specific TA event, intra-candle, use evaluate on tick. If you want a final, accurate reading for what your TA is at the close of the candle, use evaluate on close.
Complex Comparisons: Find Your Edge in the Markets
The new alert form allows for comparisons of anything to literally anything else.
For example, you could compare one TA against another — like EMA vs. SMA. Other examples include the ability to compare the same parameters across different markets, like when the volume of one market is greater or equal to another.
With the new alerts update, the possibilities are truly endless. Interested in learning more about overlays and indicators? Check out the guide to learn more! Explore some of your favorite use cases and tag us on Twitter (@cryptowat_ch) with your discoveries.