The Xena Market Barometer is designed to keep a pulse on the market and optimize the trading process while reducing the number of monitors needed for efficient trading. The first eight indicators are already live and are free to use. In the next few months, Xena Exchange plans to expand the number of graphs available.
Xena Exchange announced the launch of Xena Market Barometer: a 360-degree analytics tool that aggregates data from the biggest digital-asset exchanges and represents it in unique graphs assembled in one place. The barometer combines numerous data sources and uses complicated processing algorithms to display information in an easy-to-understand format. Data sources are divided into three categories: live trades and order books from major cryptocurrency exchanges, blockchains, and media.
Collecting live data from Huobi, Coinbase Pro, Bitstamp, and Bitfinex. The first version can be used by active traders to assess the direction of possible price moves in the short term. Charts show support and resistance levels calculated using live order books and the profile of volumes traded at different price levels.
Anton Kravchenko, Chief Executive Officer, Xena Exchange, commented:
“Traders are overloaded with big data they need to interpret in the right way. They need to constantly switch from one monitor to another, searching for the right signal or pattern. This results in stress, and stress results in mistakes. The Xena Market Barometer is meant to make the analytics ergonomic and provide the trader with all the information they seek on one dashboard.”
Xena has recently launched a free desktop terminal designed to meet the information demands of professional traders looking to navigate the cryptocurrency markets.
Julie Plavnik, CBDO at Xena Exchange, has recently stated that CMC’s decision to exclude Bitfinex BTC rate from its weighted average calculation was a fair move.