Xena Exchange announced the launch of its product Xena Market Barometer.
The barometer is 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 first eight indicators are already live and are free to use. The Xena Market Barometer combines numerous data sources and uses complicated processing algorithms to display information in an easy-to-understand format. All data sources can be divided into three categories: live trades and order books from major cryptocurrency exchanges, blockchains, and media.
The first version collects live data from Huobi, Coinbase Pro, Bitstamp, Bitfinex and 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.
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 in order to save traders’ time, money, and nerves.
“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,” said Anton Kravchenko, CEO, Xena Exchange.
In the next few months, Xena Exchange plans to expand the number of graphs available. Currently, all the information is available completely free of charge, but in the future, some advanced tools may become available only for those who purchase a subscription.