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Poloniex is a cryptocurrency exchange based out of the United States which was established in 2014. The exchange is among the most popular cryptocurrency exchanges with high amounts of volume and accepts traders from all over the world. Poloniex is a crypto to crypto exchange which means they do not accept any fiat currency trading pairs, but rather many different cryptocurrency assets. For instance, traders can trade over 100 cryptocurrencies in the Bitcoin (BTC), Ethereum (ETH), Monero (XMR), and Tether (USDT) markets. The exchange offers some of the lowest fees in the industry and is primed for experienced cryptocurrency traders. Poloniex primarily services and attracts experienced traders due to their rather advanced trading platform and charts. In fact, the charts utilized by Poloniex are very sophisticated and rich with features. Below we’ll delve into all the aspects and features that make the Poloniex charts stand out from other exchanges.show more
Poloniex’s charts are completely unique unto itself with a look and feel that many other cryptocurrency charts do not capture. The charts incorporate both the price action and the exchanges volume in the same chart. This provides a visual representation of the correlation between the two. As well, below the main chart is another chart that stretches horizontally along the main chart. This chart represents the market sentiment and shows a visual representation of how bullish or bearish the market was during a particular time and the current situation as well. Additionally, there’s market information that’s included at the top of all Poloniex charts such as; the last executed trade price, the 24hr percent change, the 24hr high, the 24hr low, and the 24hr volume for both cryptocurrencies.
When performing chart analysis, traders have various options for viewing the charts. For instance, traders can view charts in the following time frames; 6hr, 24hr, 2 day, 4 day, 1 week, 2 week, 1 month, and so on. Every chart comes with a slider at the bottom of the chart in which users can use to choose the exact time frames they would like to view the chart in. Also, traders can choose to see different times frames of candlesticks including; 5 min, 15 min, 30 min, 2hr, 4hr, and 1 day candles. All this customization is very useful for getting a better understanding and visual representation of the market and its price movements. More advanced technical analysis features include technical indicators such as fib levels, SMA period, EMA 1 period, EMA 2 period, and Bollinger band.
Another chart that Poloniex offers their users is the market depth chart. This chart shows a graphical representation of the buy and sell orders along with the liquidity of volume for each. This additional chart is a standard feature that most other reputable exchanges feature as well. All in all, Poloniex offers their traders very advanced and beautifully designed charting features. They do a great job at making these charts easy to use and understand while also providing some important and more advanced technical features.