The Crypto Coins Screener is a powerful tool within TradingView, allowing users to analyze various cryptocurrencies based on a wide range of analytical metrics. These metrics include time frames, technical indicators, and fundamental data, which are essential for traders who want to track crypto coin performance and market trends.
By utilizing the Crypto Coins Screener, traders can gain insights into potential price movements and evaluate key data before making trading decisions.
You can access the Crypto Coins Screener from the main TradingView menu. After selecting the screener, you’ll see multiple filters and columns that offer detailed crypto insights. Whether you’re a beginner or an experienced crypto trader, focusing on the right metrics is essential for maximizing returns and minimizing risks.
Also Read: Using a Crypto Coins Screener For Long-Term Investments
Key Crypto Metrics to Focus on
Understanding the most relevant metrics in TradingView’s Crypto Coins Screener is crucial for making well-informed trading decisions. Below are some of the essential metrics to pay attention to:
1. Market Capitalization (Market Cap)
Market capitalization is a vital metric that shows the total value of a cryptocurrency. It is calculated by multiplying the current price by the total supply of coins in circulation. A high market cap generally indicates a well-established cryptocurrency, while a lower market cap could signify higher volatility and risk.
- Why it matters: Larger market cap coins are considered more stable, while smaller ones offer higher risk/reward potential.
- Where to find it: Look under the “Valuation” column in the screener.
2. Transaction Volume
Transaction volume refers to the total number of coins traded within a specific period. High transaction volume indicates active market participation and liquidity, while low volume might suggest a lack of interest or liquidity in a particular cryptocurrency.
- Why it matters: High volume often precedes large price moves, offering clues about potential market direction.
- Where to find it: You’ll find this data in the “Transactions” column.
3. Number of Coins in Circulation
This metric reveals how many coins of a particular cryptocurrency are currently in circulation. It’s essential for understanding the supply dynamics of the asset. The total supply and circulating supply are crucial in determining how a coin’s price might behave under different market conditions.
- Why it matters: Coins with limited supply can experience price surges, especially when demand increases.
- Where to find it: Available under the “Valuation” section.
4. Active Addresses
Active addresses represent the number of unique blockchain addresses that are involved in transactions (either as sender or receiver) over a specified period. This metric offers insight into the usage of a cryptocurrency network.
- Why it matters: A higher number of active addresses generally indicates greater utility and adoption of a cryptocurrency.
- Where to find it: Check the “Addresses” column to track daily active addresses.
5. Gains and Losses
The ratio of profitable versus unprofitable addresses can indicate the general sentiment around a cryptocurrency. This is particularly useful for gauging the potential strength or weakness of a crypto asset, as it shows how many investors are in profit or loss at the current price.
- Why it matters: A high percentage of unprofitable addresses could indicate a bearish market sentiment, while a high percentage of profitable addresses could signal strength.
- Where to find it: This data is available under the “Gains and Losses” column.
6. Sentiment Metrics
Sentiment data measures how the public perceives a particular crypto project by analyzing metrics such as social media activity, Telegram followers, and Twitter mentions. Positive or negative sentiment can heavily influence the price of a cryptocurrency, especially in speculative markets like crypto.
- Why it matters: Tracking social sentiment helps identify potential price swings driven by hype or FOMO (Fear of Missing Out).
- Where to find it: The “Sentiment” section provides metrics such as positive/negative reactions and social media metrics.
Also Read: Best Filters in TradingView’s Crypto Screener in 2024
TradingView Tips for Optimizing Crypto Screener Use
To make the most of TradingView’s Crypto Coins Screener, here are some actionable tips:
Custom Filters
Customize your filters based on the key metrics mentioned above. For example, you can set a filter to show only coins with a market cap above a certain value or transaction volumes above a specific threshold. This will help narrow down your choices and focus on the cryptocurrencies that match your trading strategy.
Multi-Timeframe Analysis
TradingView allows you to view crypto performance across different time frames. By analyzing short-term and long-term trends, you can get a better sense of a coin’s potential future performance. Pair this with technical indicators like moving averages and RSI for deeper analysis.
Chart Integration
One of the most powerful features of TradingView’s screener is its seamless integration with charts. After filtering out the coins you’re interested in, open their charts to see technical indicators overlaid with the screener’s metrics. This combination provides a more holistic view of the market.
Watchlists
Save your favorite crypto coins by adding them to a watchlist. This feature allows you to easily monitor their performance, set alerts, and make quick decisions when needed.
Combine Fundamental and Technical Analysis
By using both fundamental metrics (e.g., market cap, active addresses) and technical indicators (e.g., RSI, MACD), you can build a well-rounded trading strategy. The Crypto Coins Screener allows you to track these key crypto metrics in real-time and make decisions accordingly.
Also Read: Discover Promising Crypto Currencies With TradingView’s Screener
How to Access Coin Metrics Data on TradingView
Coin Metrics, a leading provider of crypto data, is integrated directly into TradingView. To access this data, type “COINMETRICS:” in the symbol search bar, and you’ll be presented with a wide range of metrics such as newly created addresses with a non-zero balance, active unique addresses, and more. This data adds another layer of analysis to your crypto screener workflow.
- Example of Data Integration: You can overlay Coin Metrics data on your charts to visualize the relationship between active addresses and price movements.
Final Thoughts
TradingView’s Crypto Coins Screener is an invaluable tool for traders who want to stay ahead in the fast-paced crypto market. By focusing on key crypto metrics such as market cap, transaction volume, active addresses, and social sentiment, you can make more informed trading decisions. Utilizing TradingView tips such as custom filters and integrating charts with fundamental data will further enhance your trading experience.
By strategically using these metrics and tips, you can optimize your trading strategy and make better-informed decisions in the ever-evolving cryptocurrency market.
