Although I have been interested in cryptocurrencies, blockchain technologies and trading for many years, I have to admit that sometimes I am very surprised by the movement of crypto space. I can barely read all the forums and every day I find at least another one cryptocurrency and loads of information, which also affect the price of Bitcoin and altcoins. And just as I think about fundaments, I try to combine them with technical indicators on charts, historical data and also with analysis of experienced traders on Tradingview.
Signals will help traders to develop trading strategies
So I was pleasantly surprised, when I found out that someone wants to throw the pitchfork into this clutter of information – let’s say enough, let’s do it differently. And even more pleasant was a fact that the “someone” is a startup from the Czech Republic. Yes, I am talking about Signals – a newly emerging platform that wants to offer people a simple way to build a well-informed trading strategy.
How will Signals work? Last week I met Pavel Němec, CEO and co-founder of the project, to get their ideas of the project from the first hand. Pavel explained me, that the infrastructure of Signals will aggregate algorithms that will analyze data from stock exchanges, media, social networks, or prediction markets (see, for example, the Gnosis project) and look for factors influencing the price of cryptocurrencies. You can make some idea from this video.
The main visible part of the product will pack the formulas from data into user-friendly indicators which a regular user of their platform can build a strategy from. The result of the strategy will be so-called signals – simply just “Buy” / “Sell” / “Send notification”.
How Signals will work
Signal stands on the modular framework, which is written in C# language on the Microsoft.net platform. This framework is used to monitor the crypto-movement with using various combinations of indicators.
The main user environment will be Signals Strategy Builder for composing and automating trading strategies. The interface should not distract the user from thinking about the strategy, so it will require just a simple clicking and moving elements with the mouse – something, a layman can do.
The composed strategy can be tested on the historical data. By optimizing, the user can improve his strategy and have great results: And if you have a successful strategy, you can offer it to other users and earn more by “copytrading”.
Strategy Builder will be connected with three more platform pillars:
- Data Marketplace (Users and third parties will be able to offer their data for money.)
- Indicators Marketplace (Here developers can record they own algorithms and monetize them as user-friendly indicators.)
- Strategy Marketplace (Here you can trade with successful strategies.)
Currently, Signals has a team of about 20 people, mostly in the Czech Republic, who are already completing the alpha version of Strategy Marketplace. It should go live this year and offer signals of the first strategies from this team to the first customers.
The entire platform will have its own currency, so-called SGN token. You can buy this altcoins already during the ICO presale on 22 November here for Ethereum with a 30% bonus. Token Sale is a modern way for crypto startups to get funds for costly development. Signals has also chose this way and they are planning to emit the Token at the initial value of 0.25$. The latest information about SGN can be found on their Twitter account.
If you are interested and want to know more, I would definitely recommend checking their website Signals.network. For more serious ones a Signals Whitepaper is available for reading, too.
It looks like a very ambitious project and it will require thousands lines of codes, which will make this all possible. I hope that thanks to Signals and similarly ambitious projects, the Czech Republic will have another unique entry in the world cryptocurrency map. Anyway, if they are able to build this project, it will be very useful and I would definitely like to try it myself.
This is an article from btctip.cz which was translated with the permission of Karel. Česká verze k mání zde.
