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Coinrule Review (2022)

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Calling itself a crypto smart assistant, Coinrule is an easy-to-use automated trading platform designed for both beginners and experts.

The service lets you build customized trading strategies using a simple, yet effective interface that’s compatible with 11 popular exchanges.

In this Coinrule review, I’m going to go through everything you need to know about what it offers.

Let’s get to it!

Advantages & Disdavantages

Advantages

  • Easy to use interface for creating trading strategies.
  • Powerful TradingView integration.
  • Access to over 180 free Strategies, Scripts, and Templates.
  • Affordable entry-level plans.
  • Futures trading supported.

Disadvantages

  • TradingView integration not available for all plans.
  • Limited backtesting capabilities.
  • No crypto wallet or DEX trading support.

Main Features

Automated Trading

Trading strategies on Coinrule are called ‘Rules’.

All Rules operate using a ‘If X then Y’ format and consist of 3 basic components – Events, Actions, and Operators.

Events

Like all trading bots, Rules only execute buy and sell orders when certain conditions are met.

On Coinrule, these conditions are defined using ‘If Statements’ which look at changes in price, volume, market cap, and technical indicators.

When a condition has been fully defined, it becomes known as an Event.

Below are two examples of the type of Events you might create on CoinRule:

  • Example 1: If DyDx’s market cap decreases by 6%, execute a sell order.
  • Example 2: If BTC’s 4 hour MA(50) crosses over its 4 hour MA(100), execute a buy order.

Each event can include up to 3 conditions.

Interestingly, conditions don’t have to be defined using the same cryptocurrency, allowing you to build complex trading strategies.

The image below is an example of the type of multi-coin Event you can create on Coinrule.

(Unfortunately, multi-condition Events aren’t available with the most basic plan, meaning you’ll have to pay extra for this feature).

If you don’t want to limit your strategy to just a few cryptocurrencies, there are several alternative options available, including an ‘any coin’ and ‘any of my coins’ setting:

  • When ‘any coin’ is selected, your Rule will trade every coin listed on the connected exchange.
  • With ‘any of my coins’ selected, your Rule will just stick to those coins you currently hold in your connected account.

As we can see in the image below, there’s a total of 7 settings available, all of which can be extremely powerful when used appropriately.

The ability to easily create a ‘catch-all’ trading condition is something that sets Coinrule apart from many other crypto-trading systems. If you’re a serious trader, you’ll no doubt find this feature handy.

How many technical indicators are available?

Unfortunately, the number of technical indicators available is low. Right now, only RSI and a 9, 50, 100, and 200-day moving average are supported.

Coinrule does have plans to release more indicators, like MACD and Bollinger Bands, but it’s unclear when these features will be available.

Actions

Events trigger buy and sell orders, which on Coinrule, are known as Actions.

To set up an Action, choose if it’s a buy or sell order, enter the order amount, and select which wallet the funds will come from.

Along with basic market orders, Actions can be constructed using limit orders – giving you even more control over how your Rule operates. That said, some basic order types, like trailing stop losses, can be a bit difficult to implement.

Operators

To further refine your trading strategy, Coinrule lets you implement Operators.

Using Operators can be confusing at first, but once you get the hang of it, they can build highly-robust trading bots that can perform several buy and sell orders in succession.

Coinrule currently supports 5 Operators: Then, Anytime, Or, Do Not, and Wait.

Each Operator has a wide range of applications (and diving into each one individually is beyond the scope of this review). If you would like to learn more about the different Operators and how to use them, refer to the links provided above.

When implementing Operators, you must assign it an action. If you don’t, they won’t do anything – which can really mess up your trading strategy.

For a good visualization of how Events, Actions, and Operators work together to form a fully-functional Rule, take a look at the photo below.

Pre-made Templates

If you’re not up to the task of building trading strategies from scratch, Coinrule has over 180 premade templates to choose from.

Some of the most popular templates include:

To find a Template, click the Template button located at the top of the Dashboard. This will open a window containing over 15 pages of strategies for you to choose from.

All templates can be implemented as is or edited to work with a different exchange, set of coins/tokens, or your risk tolerance level.

While all templates are free to use, the base-level subscription only gives you access to 40.

Some Templates come tested, meaning Coinrule has tracked and measured their performance. All tested Templates are listed with their overall return (as a percentage) along with the number of trades they’ve executed.

Futures Trading

Coinrule recently added Binance Futures and BitMex to its list of supported exchanges, giving you the ability to automate their leverage trading.

Once you’ve connected your futures account using API keys, creating a Rule follows the same steps as those described above.

TradingView Signals

Perhaps the platform’s most powerful feature, Coinrule supports TradingView signals and script integration.

Over 100 signals/scripts can be found at Coinrule’s TradingView page, all of which can be synced with your Rules using a Webhook URL.

Currently, there are three ways TradingView signals can interact with Rules: Signals & Action, Signals & Coinrule Logic, and Buy & Sell Signals.

Signals & Action

Once connected, a script will send buy and sell signals to your Rule. When received, the Rule will then place a buy or sell order based on the instructions you’ve given it.

Signals & Coinrule Logic

If you’re looking for a more in-depth way to utilize TradingView signals, Coinrule lets you apply all its standard logic conditions to any Buy or Sell signal your Rule receives.

For an example of the type of conditions you can apply to a TradingView signal, refer to the image below.

Buy & Sell Signals

For next-level customization, Coinrule allows you to create multiple buy and sell conditions using TradingView signals.

Better yet, these buy and sell conditions don’t have to operate using the same signal or script, allowing you to create some truly in-depth trading strategies.

If you’re an advanced-level trader, TradingView integration is no doubt where you want to be. It’s also worth noting that you’re not limited to just cryptocurrency signals, and you can make use of any market data available on TradingView.

For example, if you want to buy Bitcoin (BTC) every time the S&P 500 drops by 10% or more, such a condition can easily be implemented using TradingView signals.

What’s more, TradingView provides access to hundreds of technical indicators you can use to create your own signals. For example, if you want to use a customised moving average or RSI setting, these can be easily linked with a Rule using the same Webhook URL tool.

Can I only use TradingView signals and scripts provided by Coinrule?

No! Although Coinrule has tons of signals and scripts available, you can use any signal/script available on TradingView. Additionally, you can also create your own.

Backtesting

Unlike most automated trading platforms, Coinrule doesn’t have its own backtesting feature. Instead, it relies on TradingView to fulfill this role.

All public strategies come with a chart detailing all past entry and exit points. This chart can be used to gauge a strategy’s performance and provide insight into how well it performs.

Unfortunately, you can’t backtest strategies you’ve built using Events, Actions, and Operators on the Coinrule platform. The reason for this, according to the Coinrule team, is that they’re still working on a way to export trading strategies designed on Coinrule to TradingView.

This is one of the major drawbacks to keep in mind when comparing Coinrule to other automated trading services. If you would like to learn more about backtesting on Coinrule, I recommend watching this video.

Paper Trading

Coinrule supports paper trading via its demo exchange function. Here, you can test all your Rules against live market data using a dummy wallet.

As is common with paper trading, the effect of the bid/ask spread is not taken into account during testing – which is something to keep in mind when you’re looking at results.

Supported Exchanges

Coinrule is currently compatible with 11 exchanges, including popular names like Binance, Coinbase Pro, Bitstamp, and Kraken.

What exchanges does Coinrule support?

Coinrule currently offers integration with the following exchanges:

  • Binance
  • Binance US
  • Binance Futures
  • Bitpanda
  • Bitstamp
  • BitMex
  • Coinbase Pro
  • Kraken
  • HitBTC
  • Liquid
  • OKex

Pricing

Coinrule has a free account that offers bare-bones access to the platform and some of its tools.

However, because of the $3,000/month max trading volume allowance, the chances of you realizing any real profit with this are low.

The Hobbyist plan, which comes with a cost of $29.99/month, offers much greater access and comes with a $300,000 monthly trading volume. Unfortunately, this plan doesn’t support TradingView integration – which, as mentioned earlier, is Coinrule’s most powerful feature.

For TradingView access, you’ll need to purchase either the Trader or Pro plan. Both plans are a large step up in price and will run you $49.99 or $449.99/month.

A 25% discount is available with the purchase of an annual plan and Coinrule accepts both card and crypto payments.

Find Out More

Is Coinrule Safe?

Coinrule takes security seriously and no major issues have been reported. What’s more, the platform stores all API keys using 256-bit AES encryption. All private API keys are secured using detached data storage which is also encrypted using 256-bit AES.

For an added layer of security, Coinrule encrypts all data transferred between their web app and database/cache nodes using TLS 1.2 encryption.

2FA verification is also available to help you further secure your account.

Coinrule Alternatives

Here are a few 3Commas alternatives I recommend looking at:

  • CryptoHopper: If you’re looking for something a bit more budget-friendly, CryptoHopper is a feature-rich trading platform that doesn’t rely on TradingView integration. If you’re looking for something with built-social trading and backtesting capabilities, consider CryptoHopper. (Find out more in my CryptoHopper review).
  • HaasOnline: Designed for advanced-level traders, HassOnline is an institutional-grade trading platform that’s packed full of features. Unfortunately, the service is expensive and there’s a steep learning curve to mastering the UI. (Find out more in my HaasOnline review).
  • Shrimpy.io: Although it supports 20 exchanges, 13 wallets, and DEX trading capabilities, Shrimpy.io is built as a portfolio management tool and not a high-frequency trading platform. (Find out more in my Shrimpy.io review).
  • 3Commas: Compatible with over 20 popular exchanges, 3Commas is a trading bot service that supports Spot, Options, and Leverage trading. Like Coinrule, it offers TradingView signals integration. (Find out more in my 3Commas review).

Other alternatives include Gunbot, TradeSanta, CryptoTrader, and Pionex.

Bottom Line

With its ‘If-This-Then-That’ approach, Coinrule is a unique automated trading tool unlike anything else I’ve looked at.

The sequential approach is easy-to-use and the TradingView signals/script integration offers excellent value for advanced traders.

Here’s what stood out to me:

  • 180+ free templates, scripts, and signals.
  • Powerful TradingView integration.
  • Compatible with most major exchanges.
  • Futures trading supported.

If you would like to give Coinrule a try, you can do so risk-free by opening a free account.

But if you want to see what the platform is truly capable of, I recommend giving the Trader or Pro Plan a shot for a month (which both allow you to leverage its TradingView integration).

Coinrule Website

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