Charting software is the most useful tool a technical analyst or chartist could use. Computers were designed to store and compute data while providing usable interpretations in a human-readable and understandable format. For most traders and investors charting software is a pain. They either quickly outgrow them or reach an impassable coding problem due to the underlying language used. In this article, we will compare Coinigy Vs TradingView to decide which one is better for crypto traders to use.
Coinigy VS TradingView Comparison Table
What is Coinigy?
Coinigy is a cryptocurrency-focused trading platform. They have been operational since 2013 located in Milwaukee, Wisconsin, USA. With a strong emphasis on providing trading charts, and tools for obscure exchanges. They do have all the major exchanges as well.
What is TradingView?
Tradingview is a well-rounded trading platform capable of analyzing stocks, bonds, commodities, currencies, cryptocurrencies, indices, futures, and CFDs. They were founded in 2011 in New York, New York, USA.
Tradingview provided exceptionally customizable charting at a fraction of the cost of other major players, Reuters, Bloomberg, and CQG. The ability to purchase real-time data of most major markets all in one place without a broker is revolutionary.
Chart and trading platforms
Coinigy
Coinigy is a web-based (no install) platform-independent desktop and mobile phone charting software with institutional-grade data feeds. You can chart 38 exchanges, 3,349 markets, and 6,957 currencies. Their trading book features offer horizontal and vertical views for visual traders. They're bought and sell walls are easily visible.
Markets and exchanges are impressive, obscure coins can be found and charted, which is no small feat considering the liquidity can be mear $1000.
Their API is amazing allowing for order execution without delay. Account balances are visible, chart view exchange distribution (tracks your balances across exchanged with percentages). A pie chart is shown, which is great for risk reduction if one fails temporarily or permanently for any reason.
Coinigy has an App button which leads to additional tools. The apps include; Google sheets for organizing trades and balances. A news wire for live current events that could excite the bulls or bears. Crypto ticker chrome plugin for market tracking while doing other internet tasks. Sms alerts which do have an additional fee.
The Arb (arbitrage) matrix is a great app for tracking price variances in the markets which can be exploited if block times are fast enough and the price difference is high enough. Additional in-browser alerts based on exchange and ticker are available. Emails, SMS's, or system sound alarms can be also enabled. Coinigy allows for written notes to be saved for each pair, easily visible in a side tab.
Economy data layouts explain where coin information can be found. These include descriptions about the project, social linking to the community and website, white paper, block explorer, miner rewards, confirmations, block time, and mining algorithms.
Coinigy has plans for a chart scanner and a social scanner. Currently, their 2.0 Beta version is available to test. Both 1.0 and 2.0 have hotkey features that can make trading faster.
TradingView
TradingView is a web-based (no install) platform-independent desktop and mobile phone charting software with institutional-grade data feeds. With access to multiple markets, it is a broadly based financial tool. For the analysis of stocks, bonds, commodities, currencies, cryptocurrencies, indices, futures, and CFDs.
Tradingview is a social network with traders and investors from all around the world sharing trading ideas in private or publicly. Their platform is designed for articulated thought around financial instruments.
The platform is very social and the community is always ready to help even when they don’t agree with you. They will tell you why it’s up to you to stay convicted and make the right or wrong call or change your mind and make the right or wrong call.
Tradingview allows for custom scripts/programs to run on their system. Tradingview has its programming language, Pine Script. While it’s not bad, it is a little complex in some areas. However, for the most part, it’s simply getting around computer logic, and working with the language limitations. These limitations simply mean re-coding, the coding community is ready to help.
The screener is amazing. It looks at indicator signals and can advise you of trade setups that fit your system criteria. Their charts are beyond solid and adding multi-window features will make anyone feel like a Wall Street trader.
TradingView is a multi-market, broadly based financial tool that will allow you to view world markets and investor behavior. This complete picture is a must depending on the trading style.
Tradingviews’ backtesting features are amazing with countless prewritten scripts to choose from or create. The hotkeys and notes features are the same on both platforms. Bar replay is a great testing resource for scalpers. Allowing them to test their skills using indicators or market structure. A great tool to recap the day and refine personal trading methods.
Coinigy VS TradingView: Reviews
This boils down to the purpose of use and trading style. Some traders/investors need a lot of information to make trades while others simply need to know the price and market structure of their chosen asset.
Coinigy Review
Coinigy is a refined crypto trading product offering a tailor-made solution for the cryptocurrency markets. It lists more Cryptocurrency Exchanges in comparison with Tradingview. It does not allow for the sharing of trading ideas within its system. They have no backtesting features bundled in for the layperson to use.
While both services offer the same exchange, Tradingview has better tools and would be used for charting. For order execution, the Coinigy API is unparalleled and some cryptocurrency traders should not be without. There are other methods of API integration into a custom or purchased program.
TradingView Review
TradingView can provide a broad view of the markets. Their community will challenge you if you are social. This can be very constructive in forming opinions and not being shaken out of a good trade. They can also highlight miscalculations that have been overlooked, which could save a bad trade from being worse.
Additionally, you can view other ideas and gauge the consensus of the market. The insights from market veterans around certain conditions and likely outcomes from past events or trade setups can be invaluable for new and experienced traders.
Fees
Coinigy
Coinigy offers a 30-day starter account, allowing you to try both paid subscriptions. Features are however limited, the app Arb matrix – arbitrage matrix is unavailable.
Coinigy has 2 paid subscriptions models.
Pro Trader at $21.95 US/Month
API Developer Pro at $99.99 US/Month
The Pro Trader is a must-have tool for manual traders (enter trades by hand). Their tools allow the application of industry-standard and proprietary indicators. The indicators are limited to what is available.
The API Developer version provides backend access to exchanges, allowing bots to execute complicated limit orders and trade when general users can’t. Generally, API transactions execute even if exchanges are having submission errors.
Historical data is very hard to find and demands a premium price. Backtesting and executing ideas with past data can hone a trading system/bot or trader/investors' skills. The past quite accurately reflects the future if you know how to interpret the data. Election cycles are just one example of cyclical markets.
Coinigy also sells historical data.
BITF: BTC/USD (RAW)
04/05/2014 – 02/26/2020 $2583.60
BMEX: XBT/USD (RAW)
05/12/2016 – 02/26/2020 $1108.00
TradingView
TradingView offers a 30-day trial allowing you to try all 3 initial paid subscriptions.
TradingView has 5 subscriptions.
Basic at $0.00 US/month
Pro at $14.95 US/month
Pro+ at $29.95 US/month
Premium at $ 59.95 US/month
There is a secret subscription model, The Rookie at $5. This package is only available if you start with the trial, you then start the process of canceling your monthly billing. Before you completely cancel the subscription you will be offered the reduced rookie package. The services supplied are a limited version of the Pro subscription, no volume profile data is provided.
The Basic version provides everything you could need. If you can’t afford the Pro version but are dedicated, all the power of Tradingview is available. It is just harder to access because you have to work for it. Learning to code in pine script can help you greatly. The community will also help you. In most cases, you simply have to find the indicator in their script library.
The Pro version has a volume profile (which is worth the price asked), additional indicators per chart and 2 charts per tab.
Pro+ has 4 charts per tab, viewing multiple markets data streams allow for a more holistic picture of what's happening. Crypto doesn’t have centralized markets, Apple Inc. (APPL) It only has one price. Each cryptocurrency has a price per exchange per pair. Lots of arbitrage opportunities are available as the prices are not stable or fixed across exchanges. Custom range bars (candle and bar periods) are available 5 days for example.
Premium offers unlimited chart layouts, 24 indicators and a publish invite-only indicators feature. This is where a developer can monetize their work and lockout access to non paying users and create a client base generally charging a once-off $100 to $500 fee, which is an industry norm.
Tradingview allows for exporting all chart data to CSV.
Safety, Trust and Support
Coinigy Security
Coinigy is safe for the most part. Their security is industry standard 2FA, and email notifications of login. This is all the trust most companies can offer. Giving anyone or company an API key is a risk you need to justify in your broad trading plan.
If you transfer your funds to exchanges when you are trading and off exchanges when you are not and store the coins in a hardware wallet the rest of the time. The API key granting can be great for trading or investing.
Their security is industry standard 2FA, and email notifications of login. This is all the trust most companies can offer. Coinigy does deliver a fantastic service. Their support staff has solved issues within the hour, but your experience may vary due to the complexity of the task.
TradingView Security
The trading view for crypto trading is safe. It can be made safer if you sign up for the service with a non-linked non-descriptive email account, non-descriptive username and use a random image not related to your life. Purchase a prepaid cell phone for alerts and prepaid credit cards. The rest is internet personal security etiquette.
Their support is amazing. The community is always available to help with coding problems, trading ideas, and educational insights. Tradingviews technical support resolve issues in an efficient manner. Their support knowledgebase can answer almost all questions.
Coinigy vs TradingView Final Conclusion
Both of these tools complement each other perfectly, opening cryptocurrency markets to technical and fundamental analysis while viewing the financial industry. The Tradingview community can be leveraged to make you a better trader/investor with their market ideas and screener. Coinigy's API can trade through exchange errors.
If budget is not an issue get both. Run Tradingview for market analysis and Coinigy for execution. If you can only afford one get Coinigy unless you trade with volume profile and your exchange is supported by Tradingview. Tradingview can be used for free, you might have to work harder to compile all your trading data. This could help you learn to code to optimize the process.
There are Two typos on the wording “Company Launch” which you have “Luanch”
Thanks John! Fixed 🙂
Also,
Thank You, Awesome read and I believe that there maybe some Black Friday deals for TradingView but not too sure about Coinigy?
Hmm not sure about the Black Friday deals. Going to have a look into this now and report back.