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Crypto Screener Gems

Crypto Screener: Finding the Right Coin

As you step into the dynamic world of cryptocurrency trading, understanding the tools at your disposal can make all the difference. One such essential tool is the Crypto Screener, which allows you to filter and analyze coins based on specific parameters. In this lesson, you’ll learn how to navigate this screener, its importance in traditional finance, and how its application extends to the crypto realm. Whether you’re a seasoned trader or just beginning, grasping how to effectively use this tool is key to making sound investment decisions in both worlds.

Core Concepts

  1. Crypto Screener:

    • Traditional Finance: In conventional markets, screeners help traders filter stocks based on criteria like performance, market cap, and volume.
    • Crypto: A Crypto Screener serves a similar purpose, allowing you to navigate the vast cryptocurrency market and tailor searches to find coins that meet your unique criteria.
  2. Market Capitalization:

    • Traditional Finance: Market cap represents a company’s total value on the stock market and guides analysts in ranking investments.
    • Crypto: In crypto, understanding market cap helps you identify projects that are truly significant in the market — those valued between $1 billion and $10 billion could suggest a strong or emerging coin.
  3. Trading Volume:

    • Traditional Finance: Volume signifies the number of shares traded within a specific period, influencing the liquidity and price stability of a stock.
    • Crypto: Similarly, in cryptocurrency, a trading volume filter helps you ascertain how actively a coin is being traded, crucial for minimizing slippage and ensuring effective execution of trades.
  4. Performance Metrics:

    • Traditional Finance: Performance metrics often include year-to-date returns or quarterly earnings reports that inform buying decisions.
    • Crypto: The Crypto Screener allows you to filter coins based on their performance in a set timeframe, helping you identify strong-performing assets at a glance.
  5. Technical Indicators:

    • Traditional Finance: Traders often use technical indicators such as moving averages or RSI (Relative Strength Index) to project future price movements.
    • Crypto: The screener provides options to incorporate technical indicators, tailoring your searches to reflect criteria important for technical analysis in crypto.
  6. Filter Customization:

    • Traditional Finance: Customizing filters in stock screeners allows investors to align their analysis with personal investment strategies.
    • Crypto: The Crypto Screener lets you customize views and sorts to align your strategy with specific investment goals — and, spoiler alert, the same applies in traditional trading!
  7. Address Balances:

    • Traditional Finance: The concept of share distribution is somewhat analogous to analyzing a company’s registered shareholders.
    • Crypto: In cryptocurrency, the balance of addresses allows you to gauge demand and interest in a coin, indicating its potential use or investment attractiveness.

Understanding these critical concepts sets a solid foundation for your cryptocurrency journey. As you dive deeper into the Crypto Screener, navigating its functionalities will pave the way for smarter investment decisions.

Key Steps to Utilize the Crypto Screener Effectively

1. Starting with the Basics

  • Access the Crypto Screener in the products menu.
  • Recognize the options to save, delete, or load popular screens to kickstart your journey.

Important Points:

  • Select “”default screen”” initially to familiarize yourself with the layout.
  • Take note of the number of coins available; it starts at 750.

Detailed Explanation: By loading a popular screen, you can quickly gauge which coins are currently being adopted widely, an essential starting point, especially if you’re unsure where to begin your search.

2. Applying Market Cap Filters

  • Set your filters for market caps between $1 billion to $10 billion.
  • Understand how filters narrow down the pool of available coins — from 750 down to 53 in this example.

Crypto Connection: Filter settings like these help identify more stable investments compared to lesser-known, low-cap coins that might be higher risk.

3. Adjusting Trading Volume

  • Adjust the trading volume filter to set a minimum of $10 million.
  • Observe how this adjustment further narrows the list of coins, enabling more liquid investments.

Crypto Insights: By choosing higher volume coins, you reduce irregular price movements that can occur with low liquidity.

4. Monitoring Year-to-Date Performance

  • Filter out coins that are up 5% or more year-to-date.
  • Understand the significance of monitoring performance in a rapidly fluctuating market.

Real-World Application: This technique builds on traditional financial principles, where solid performance indicators guide investment choices.

5. Customizing Screens and Features

  • Utilize the “Plus” feature to add filters based on specific interests.
  • Adjust viewing preferences between table and chart views to suit your analytical style.

Detailed Insights: With tools to customize views, you can ensure your focus stays on critical data points that matter to your trading strategy, akin to building a customized research report.

6. Saving and Managing Your Screens

  • Remember to save your customized settings for easy access in the future.
  • Learn to manage your screen by renaming or deleting screens you no longer need.

Purpose: This step is crucial; managing your screens effectively will simplify your trading process, enabling quick adjustments based on market conditions or personal strategies.

 

Crypto Trading – Finding Gems

  1. Initial Familiarization: Much like learning to drive before hitting the road, mastering the screener saves you from a bumpy ride further along your trading journey.

  2. Market Cap Importance: As in traditional investing, understanding the importance of market capitalization remains vital. Low-cap coins may seem appealing, but they come with added risk!

  3. Volume Relevance: The link between trading volume and market analysis is crucial; coins demonstrating significant trading activity may signify heightened interest and stability.

  4. Performance Metrics: The metrics that work in traditional finance translate well to crypto, ensuring you keep a close eye on coins meeting your expectations for growth.

  5. Technical Indicators: Given technical analysis plays a significant role in trading, integrating these elements into your crypto strategies keeps you ahead of fluctuating trends.

  6. Customization of Filters: Adapting your analysis to fit personal preferences transcends both finance and crypto. A tailored approach emphasizes your investment ethos.

  7. Address Balances: As in traditional finance, knowing your investment landscape (in this case, the number of addresses and their balances) provides insight into public interest.

Real-World Applications

With a historical perspective, consider how crypto investments have developed over the last decade. The advent of various cryptocurrencies birthed diverse trading strategies that mirror stock investment principles. For instance, Bitcoin’s rise has seen sophisticated trading instruments and analytics being adopted, making screeners like these invaluable.

You may see companies like Coinbase utilizing such screeners to guide clients through investment decisions while educating them on necessary parameters driving smart cost analysis. Understanding both traditional market trends and new crypto innovations shapes the future of trading.

Cause and Effect Relationships

Each parameter you set in the screener produces immediate and observable effects on your potential investments. For instance, applying stricter liquidity metrics affects your end coin choices. This mirrors traditional markets where liquidity directly impacts investment stability.

In cryptocurrency, a similar dynamic exists: higher trading volumes and positive performance metrics signal better investment opportunities.

Challenges and Solutions

One major challenge in cryptocurrency is the overwhelming amount of data and choices that can lead to analysis paralysis. Integrating user-friendly tools like the Crypto Screener provides clarity and direction, enabling you to make informed decisions efficiently.

Common misconceptions often concern the technical nature of crypto trading. However, modern interfaces and educational content help mitigate these concerns, ensuring newcomers grasp essential concepts.

Key Takeaways

  1. Learn How to Use the Screener: Embrace the functionality of the Crypto Screener as a vital tool in your trading toolkit.
  2. Understand Market Caps: Familiarize yourself with how market caps affect investment choices in both markets.
  3. Volume is Key: Recognize the importance of trading volume to avoid liquidity pitfalls.
  4. Keep an Eye on Performance: Use performance metrics to gauge a coin’s historical success.
  5. Customize for Clarity: Tailor your screener settings to reflect your investment philosophy.
  6. Save Your Work: Ensure you save your settings to avoid losing valuable insights.
  7. Stay Informed: Continuously educate yourself about new features or cryptocurrencies to refine your trading strategy.

Discussion Questions and Scenarios

  1. How does the filtering process in the Crypto Screener mirror traditional finance investment strategies?
  2. Can you compare the importance of trading volume in both the stock market and cryptocurrency?
  3. How does market capitalization affect your perception of risk in crypto as opposed to conventional markets?
  4. Imagine you find a coin with low volume but high potential; how would you approach investing in it?
  5. Discuss a scenario where applying a technical indicator directly influences your buying decision.
  6. If you were to set up a Crypto Screener for high-performing coins, what specific filters would you prioritize?
  7. Compare the experience of using a Crypto Screener to pick stocks in traditional finance. What are the similarities and challenges?

Glossary

  • Crypto Screener: A tool used to filter and analyze cryptocurrencies based on specific parameters.
  • Market Capitalization: The total value of all coins in circulation for a specific cryptocurrency.
  • Trading Volume: The amount of a cryptocurrency traded in a specific time period, indicating market activity and liquidity.
  • Performance Metrics: Statistics that demonstrate how well a cryptocurrency has performed over a certain timeframe.
  • Technical Indicators: Data points used to forecast future price movements based on past market behavior.
  • Address Balances: The distribution and quantity of coins held in different addresses, which can reflect the asset’s popularity.

 

Continue to Next Lesson: Get ready to dive deeper into advanced trading strategies and cryptocurrency dynamics!

As you continue your adventure into this vibrant space, mastering the tools to analyze and evaluate will prove invaluable. Each lesson builds upon the last in the Crypto Is FIRE (CFIRE) training program, leading you to become a savvy trader.

 

Read Video Transcript
Our NEW Crypto Screener: Full Walkthrough
https://www.youtube.com/watch?v=ZLoU0SG28mI
Transcript:
 Okay, traders sit back and get ready because this is one of the most requested videos on our  profile. Up in the products menu, go to screeners, and then you will see the new crypto coin screener,  which when you click, you will end up on this page and it will look just like this. So follow  each step of the way to understand this tool and how to use it.
 We’re going to start from the top  here and work our way down so you understand this from the very basic tool to the most advanced. First of all, when you  click this drop down, what you’re going to see is the capability to save all of your screens.  So always remember that as you get started, you can save screens, delete screens, rename screens,  or what’s also a really helpful feature here  is to load up popular screens to get you started if you don’t know where to begin.
 So actually, why don’t we just show you how that looks right now. We are going to use the  most adopted coins or highest adopted coins and we click. And now as you can see, this custom  screen, highest adopted coins has been populated  and created for us.
 You’re going to notice that the filters up here at the top have been filled  in automatically. We can sort now by performance, valuation, addresses, transactions, gains, losses,  sentiment, technicals, all of that good stuff. And it really all starts from either creating your own screen or getting  started from an already built screen.
 Now that you know how that works, let’s actually go and  revert to the default screen. We are not going to save the changes because we just want to go  back to the basics and build one ourselves. The first thing we want to do is only look at  cryptocurrencies that have a market cap from 1 billion to 10 billion.
 But thing we want to do is only look at cryptocurrencies that have a market cap  from 1 billion to 10 billion. But if we wanted to create a custom filter, we could type that in here  as well. For now, though, we’re going to say 1 billion to 10 billion. Click. Now, as you can see,  it says 53 coins. So actually, if you pay close attention, it says 750 coins.
 That’s because it’s all the coins that are in this  screener. But once we add this market cap filter, it quickly whittles down to 53. That means there  are 53 coins with a market cap from 1 billion to 10 billion. So now, ideally, you are starting to  understand the power of these buttons up here and why they matter.
 Every new parameter you add to these filters,  you will shrink the number of coins in the screener. You are ultimately adding in your  exact specifications. We are all different traders with different mindsets or strategies or styles.  And so we’re building a screener that fits our needs.
 You can do the same the next up thing we’re going to do is change our volume  in the last 24 hours let’s look for coins that can do at least 10 million us dollars in volume  so that’s 10 million in trading volume we click and now we’re down to 49 coins so we are making  our way down the screening tool to find the coins of our choice. By the way, if you don’t know what these  are, you can go to our help center to read more about them.
 Volume, for example, is a very  important tool to understand how much trading activity is happening. 10 million or above,  if you go to 100 million above, it goes down to 26 coins. That means over 100 million dollars  is being traded every 24 hours in these coins.  This helps with slippage, execution, buying and selling, maybe the spread between the bid and the ask. So these are the types of things you want to be thinking about as you create your custom scan.
 Another thing that we should do is look at year-to-date performance.  We’re recording this video in February.  should do is look at year-to-date performance. We’re recording this video in February,  so why don’t we take a look at all of the coins that are up 5% or more in literally just the first month. So we’re going to click that, and now there are seven coins.
 You can see as we add these  filters, the list gets smaller and smaller. We’re finding exactly what we want. However, if you  recall, we said we wanted to start with 10 million.  So let’s go back to that to expand the list.  Now we’re back up to 11.  That was 10 million in tradable volume over 24 hours.  So now as you can see here, we’ve created our list.
 We have 11 coins to pick from  based off of these parameters and filters we’ve made.  Now we’re gonna leave it there,  but we do wanna remind you  there’s a plus button here as well.  So if you ever cannot find the filter you need, click this plus button and type in the name of  the filter you want.
 If you don’t know what you want to search for, well, you have these three  categories here. You can click market data and look at this. We can make a filter that we need  based on any of these topics. If we go to technicals, here we are again.  We can make filters based on these technicals.  So if you love Bollinger Bands, you can click, here’s BB,  and now you can add whatever it is that you’re looking for  to your screen so that it filters out only the symbols  that fit the criteria of the Bollinger Bands filter  that you’ve just added.
 There’s also analysis.  So if you want to do some fundamental analysis  or look more into a fundamental aspect  of that specific coin, you can do that.  For example, active addresses is always quite interesting  or addresses with a balance,  which how many addresses are there  that actually have a balance with that coin?  Let’s do 10,000 and above.
 Now we’re down to five. So these five coins have addresses with a balance with that coin. Let’s do 10,000 and above. Now we’re down to five. So these five  coins have addresses with a balance over 10,000 addresses that is, and they have volume of 10  million or more in the last 24 hours. And their market cap is 1 billion to 10 billion.
 And they’re  up at least 5% since the start of the year. Now as we work our way down, we want to remind you of this really neat feature here that is a game changer for all of  you crypto screeners, which is table view and chart view. If  you click chart view, you will see the charts of the symbols  right here in real time depending on the screener that  you are setting up. So you can now screen in real time with populated charts.
 So for  all the technical traders out there, for all the traders who love charts, this is a new feature  you just have to take advantage of. And you can even change the charts to your exact specifications.  Candlestick charts are some of the most important charts out there. If we select candles, check it  out.
 All these charts are now set to  candlestick charts. And if you want to see this update live, well, watch this. Why don’t we remove,  let’s expand our volume parameter. And now you can see we’ve got our charts here. Or if we wanted to  remove our 5% and above and take it down to just 0% and above. You can see now wrapped BTC was added.
 So this will update as well as you add your filters. However, pay close attention that when  you have the chart view up, you can sort by timeframe and they will all update the second  you click that timeframe. How cool is that? But remember, if we go back to table  view, you don’t have access.
 When you have the chart view open, you don’t have access, of course,  to performance, valuation, or addresses. So what you can do in this scenario is flip back and forth.  You can see the charts. Maybe there’s one or two that stand out to you. Then you can go back to  the table view, and now you can use these tabs here to really  dive in to understand what’s on your list. For example, performance is just what it sounds like.
 You can see the performance of all of the symbols listed over many different timeframes. Valuation,  this is how much the project is worth. What’s its market cap? How many coins are actually out there?  It’s all right here. Valuation. Addresses.  It’s right here.  Total addresses.  Addresses with a balance.
 There’s transactions.  You can see what type of transactions are happening.  Gains and losses.  Sentiment and technicals.  The technicals tab is always a well-liked tab because of the number of technical traders  in cryptocurrency.  And so you can sort of see these ratings, RSI,  momentum, and much more.
 One very important thing about this feature that we are showing you  is that all of this is customizable. For example, I’m going to click, drag, and where should I drop  this? I’ll drop it there. So you can see that you can actually move your tabs as needed  anywhere across the screener. Even better, if you think there’s too much information here,  well, you get to remove them as needed.
 So if we only wanted to see performance over the last,  let’s say six months, we’re gonna have six months year to date one year, five year. That’s perfect. Six  months year to date one year, five year. Now we’ve done that.  Maybe we don’t need volatility, we’ll move that as well. But  maybe we’re missing something. That’s where this plus sign  comes in, click the plus sign.
 Once again, as we showed you  with the plus sign up here, you have the capability to search  these topics to type in a specific keyword, or once you’re  searching through these topics to add anything that you see that you need. We were showing you  addresses with a balance.
 Why don’t we do that again? Because we’ve whittled it down to six  coins. Remember, it was a 750 or so. Now we’re down to six. And if you pay close attention,  it’s now a custom tab here because we’ve made  quite literally our own custom tab. Let’s drag accounts with a balance here to see this.  So we’ve gone through all of this sorting.
 We’ve made our own view and we’ve got six coins to look  at. And we can flip back and forth between this table view or this chart view. Now let’s go back to the table  view. And now why don’t we sort by addresses with a balance, which is the next very important topic  about this video tutorial. You can sort all of these columns.
 So you’re probably starting to  understand now how this tool works. You’ve got your ability to save all of your screens here or access pre-built ones.  Of course, you can export the results as well to do additional data, offline work, anything of the  sort. You can rename all of your screens and you’ll see them show up right here, my screens.
 Before we recorded this video, we made a test video and we called it YouTube video example.  this video, we made a test video and we called it YouTube video example. Check it out. If we click this, we’ll load it up. But we don’t want to load this screen up just yet because we want to finish  this walkthrough. Now, you also know how the filters work.
 These are the filters that you can  access to reduce the number of coins in your screener because you’re ultimately trying to find the perfect coin based  on your preferences that you are adding up here at the top. And if you don’t see something up here,  or if you think something’s missing, well, you’ve got the plus button that you can quickly add a new  filter for. In addition, you’ve got all of these tabs to get data about the coins that are coming through your screen.
 Or you can create a  custom screen as we were showing you by dragging columns,  removing columns, or clicking the plus to add new columns.  Thus, up here is where we filter down here is where we organize.  Think of it just like that. You filter up here, and you organize  down here. And if we wanted to reset everything,  there we are. We just click reset. It’s gone. We’re back to 754 coins.
 Now we did mention we  were going to load up one of our saves. So let’s do that. We’re not going to save this. So don’t  save. Here we are. We made this screen right before we recorded this video, YouTube video  example save. And because we saved  it, it’s always accessible from our TradingView account.
 So remember that that’s an important  thing. If you put a lot of time and effort into your crypto screener, be sure to save it.  Manage your saves as well, because if you create a really nice save process, you will never have  to worry about losing a screen at all because  it will always be accessible to your account. We’re logged in up here.
 And of course, we can  see all of the information here as well. So we hope that this video gets you started. The key  to this video was to show you how the screener works, how you can use it to find trades or  investments for your specific strategy.  The next step is for you to dive in and practice it. Tell us what you think in the comments below.
 Tell us what you find. If you create a great screen, let us know. In addition, in future videos,  we will make a strategy about the screener showing you real examples from start to finish.  Because once you have your screen set and once you think you  found the trade of your choice you can click any symbol on the screen it’ll take you to the page  just like this you can do additional research you can get ideas from the social network you  can see the news you can see technicals you can see much more and of course there’s the
 C on super charts button which we then then click. Now here we are on  the chart. And from start to finish, we just showed you how the screener worked. We showed  you how we whittled it down to this exact symbol. We showed you how all of the filters and columns  and sorting options work.
 We clicked through and now here we are on the chart, ready to plan ahead,  ready to do our research and looking for the trade of our choice.  In fact, how interesting is this? This symbol happened to match all of the criteria that we  added. And it seems to be in a very interesting tradable position here. What looks like almost  a triple top. We will be watching it.
 We can even add an alert so that we’re immediately notified  if this trend line breaks again.  And that is how this all works start to finish.