Topic: Aggregated Heatmap for traders from Bitcoinwisdom.io (BTC/USD). (Read 318 times)

I will try in my words to describe how I use it and why I think it such a great tool.

I am trading a lot and always have this problem to start or end the trade at the right moment, of course, I use technical analysis, supports, resistances, fibo and all these stuff, but heatmap is just the right tool to see were the biggest buy and sell pressure is because it displays all buy and sell limit orders in real-time.

Now, I will show some screens of the BTC/USD chart on a different time frame with an aggregated heatmap.



Here we can see how price accepts and bounces beautifully back from the high supply pressure, as a trader looking at the volumes and price action, you can really perfectly time your trades.



Another great example of a different situation on a smaller timeframe, the price goes all the way down, to finally bounce back up from the buying pressure.

If you were shorting you can stop your trade perfectly and maybe even go long just after if day trading or scalping, because such patterns that the price bounces hard from big buying and selling pressure are common.

 

Thanks for the thread and update. Only saw this now, but I'm not sure I understand how to use the tool. I can see it shows where the movements are, but should we as traders then go to the highest heat (more liquidity right?) or the lowest (where we won't be manipualted or rather less?). Sorry for question, quite lost.

Bitcoinwisdom updated their AGGREGATED HEATMAP lately and added a couple of new features.

Now we can easily choose between different exchanges or select them all to have readings from all order books, additionally, they added personalized settings to the heatmap, so now we can adjust everything to our needs. Added exchanges: Coinbase, Kraken, Bitmex, Bitstamp, Bitfinex.


https://bitcoinwisdom.io/the-heatmap

As you can see on the screen, I was able to adjust the settings and to make the reads less noisy. If you don't have any other tool for order books, then this is a great alternative and what is most important, free of costs. With good settings, I am able to set up correctly stop-loss orders, start or finish trades at the right time, recognize incoming corrections, buy/sell walls, etc.

If you still haven't used it, then it is a toll for sure worth checking, especially for traders.

Indeed it needs some more personal settings but finally, when you tweak it correctly it starts to run like a charm and shows buy/sell walls very correctly.


https://bitcoinwisdom.io/the-heatmap

As you can see on the screen the BTC price moves between these walls and for me, it works perfectly as another confirmation to enter or exit a trade.

This works of course in real-time, so it's really great for day traders.  

Thanks, this is an interesting tool. It's sort of like visualizing a volume profile in a different way. The data only goes back to January but it will be interesting to see how it develops over time.

You need to increase the "minimum threshold" a good deal, otherwise it's very noisy.

I just checked it and works fine for me but I see that they have a subscription plan so I don't know how accurate is this information provided for free?


http://bitcoin-analytics.com/

It looks like a great tool for every trader.

Tried checking out the Bitcoin_analytics and the website seems to be down. I don't know if it's something recent or it has been down for a while. There rep profiles in this forum also seem to have been offline for a while

Thank you very much for sharing these two sites, indeed great info for every trader.


Still, I would like to see these other websites too, despite, how reliable they are or not. I can't tell until I don't see and review them properly  .

A nice representation of order book depth. There are other tools such as this[1] and this one[2] too. But I don't know how reliable the data is. Especially because some 'big exchanges' aren't counted there.

[1] http://bitcoin-analytics.com/
[2] https://data.bitcoinity.org/markets/books/USD

If there are any other tools anybody of you is using to visualize the BTC markets, which can help to trade, like the one I provided, please share in the comments.

For sure there are multiple great tools and many don't know about them. I think our forum is the best place to share such knowledge.

I will be very happy to see which tools are you using and to hear why?

As this is the section in which we discuss services, I want to share here the latest tool from Bitcoinwisdom.io that I recently found.

AGGREGATED HEATMAP allows traders to see when buy and sale orders are positioned on the market, so now it's easier to see how these huge orders have an impact on Bitcoin's value.

Completely new software that makes it easier to watch the whales who control the Bitcoin market.


https://bitcoinwisdom.io/the-heatmap

How does AGGREGATED HEATMAP work?

With regard to the purchase and sale of cryptocurrency, heat maps are used to indicate the graphical liquidity of the selected market under the type of horizontal bars at each level of value.
Most cryptocurrency exchanges only present a heat map of their own order books.

The horizontal axis of this chart represents time, while the vertical axis represents the value of the order. Orders in each value range are marked with a colored block, and the depth of this color represents a variety of orders with this value.

UPDATE
Bitcoinwisdom updated their AGGREGATED HEATMAP lately and added a couple of new features.

Now we can easily choose between different exchanges or select them all to have readings from all order books, additionally, they added personalized settings to the heatmap, so now we can adjust everything to our needs. Added exchanges: Coinbase, Kraken, Bitmex, Bitstamp, Bitfinex.


https://bitcoinwisdom.io/the-heatmap

As you can see on the screen, I was able to adjust the settings and to make the reads less noisy.

If you don't have any other tool for order books, then this is a great alternative, most important that it is free. If you still haven't used it, then it is for sure worth checking, especially for traders.

With good personalized settings, I am able to set up correctly stop-loss orders, start or finish trades at the right time, recognize incoming corrections, buy/sell walls, etc.