Jake Wujastyk on TrendSpider’s trading tools for crypto markets

0:00I'm action Addison from event chain for investmentpitch media and FinTech news network and today on blockchain interviews we have Jake which astok the chief evangelist of transpiler Jake welcome to the show it's a pleasure to have you here thank you so much for having me I'm looking forward to diving in a little deeper into trance butter likewise I'm very

0:19excited to learn a little bit about transpiler if you could kick off the interview by giving a little bit of background on what exactly is transpire and how is it making the trading an easier place so trance fighter is really three different things it's it's an automation tool it's a platform for creating alerts creating screens whether that's a scan for a simple MACD cross or

0:45something more complicated and then the last part is the innovation side so really we're a technical analysis platform trying to innovate the entire process of how people look at charts how they create alerts how they watch stocks so I think the the the product is really something that's grown over time it's not like we you know just all the sudden had all this stuff it really started off

1:13as an automation tool for trendlines about two two and half years ago and then from there from just customer feedback overall feedback from partners we really have morphed into a technical analysis platform and and the whole point of the platform is to make things more efficient so it's it's it's uh you know anywhere from drawing trend lines removing that bias so you don't have to

1:38draw a third a trend lines and then delete half of them even drawing Fibonacci levels measure moves are automated so this is something that really allows you to still have your discretionary analysis but it's still complimented by the platform as almost an idea generator so that is that is really the platform in a nutshell is to make technical analysis more efficient

2:01all the way from drawing your first trend line just setting an alert to actually make a trade mm-hmm very interesting and you know transpiler has been growing a lot in the cryptocurrency trading industry I've seen it all over Twitter but I know that you don't just have crypto charts you mainly have you know the stock market and Forex and more you know are you seeing a majority of your

2:21users still in the main stock market and is the crypto part growing so I think it's really a function of how how active the stock market is so back when the market crashed in February in March you had a lot of people in crypto who kind of came over to trade stocks because there was just more liquidity and there was more kind of action and you know blue chip stocks were trading like a

2:46crypto currency so as as time has passed and the markets kind of I don't wanna say topped out but definitely not making moves like it was we have seen more people come go that direction with crypto you've had length that's ripped recently you've got etherium looking very interesting right now so I'm definitely seeing more people jumping back onto the crypto side so it's really

3:10just a function of how volatile the stock market is and then that kind of will will kind of direct traders where to go from there mm-hmm and has that economic volatility and since the start of the pandemic with with the stock market moving so rapidly has that reflected in the growth of transpire as well yeah and it's hard to point what that exactly is is it is it

3:33the volatility in the market is it the fact that nobody can trade or anyone no one can bet on sports anymore because there are no sports right now it's really hard to say what exactly that's come from but you've got your bigger leaders like Dave Portnoy who used to be a huge sports bettor and you know I have friends who used to be sports bettors and all of a sudden now they're trading

3:53options and it's like whoa what did that happen so I really think it's a mix of volatility but it's also mix of just overall lack of other places to you know quote unquote gamble if you want to put it that way play the odds however you want to put it and so I think it's a mix of the volatility and a mix of just the overall environment where you know so

4:14these people have kind of funneled into the market that you don't typically see yeah it's quite the crazy time right now and you mentioned that there's three levels to transpire automation alerts and innovation if we could dive in to the automation I know you talked about the trend lines I mean some other technical analysis tools that help traders it'd be great if we could bring

4:35that up sure so I'll just do an example of a chart on essentially just Bitcoin and we'll go with a blank chart here and so I just want to confirm that you can see my screen yep awesome so what we have here is just a completely blank chart with Bitcoin just pretty much the daily price action so the first part of trend spider as you mentioned the

5:04automation really comes in the form of trends and auto fib so these two buttons up here so you'll see when I turn on trends you'll see all of these lines pop up now I'm very you know a very kind of clean analysis if you analyst if you go I don't like a lot of stuff on my chart when I'm looking and that's that's this is kind of the first step to the trend

5:28lines right so you know this is almost a bunch of permutations that can be attributed to the price action so you know someone may want to lock in this huge formation right here so what you do is you just double click on both those lines you turn off trends and all of a sudden you see that we are starting to maybe break down here so that's just one view I'm about a hundred so we go back

5:50turn on trends maybe someone's looking more at this price action and this kind of wedge right here and that's that's no different than someone else's perspective it's just honestly how people view the market so this allows you to kind of be less biased and more just efficient with your technical analysis so notice here I don't keep all of those lines on the chart I'm simply

6:17just choosing the lines that I want to lock in so you still have that discretion let's say I want to lock this in and I want to lock this in that's a whole nother view as well and this will show that we're right at the apex of the symmetrical triangle so you know it's it's there too because that was that was one of the big hurdles we had at first was yeah that sounds cool but I kind of

6:38like draw my own trend lines and I'm well so do i how do how do we kind of you know get this where people can really see the value and so once you're able to kind of get past the automation side and realize that there still is discretion to these trend lines it really allows you to be more efficient allows you to see the market less biased and just overall you know what what is

7:03the price actually showing now the thing about trends is that this is not like when I turn this on this is not every single line that transpire can find this is based on the Preferences that we currently have open I have enhanced the analysis type is going to be just the distance between the data points or you know the price action so enhanced is going to kind of find some of those

7:25closer kind of symmetrical triangle setups if we go to something like original you'll see how these lines kind of get bigger and now we've kind of got this set up if you want to like lock that in that's a completely different view from what we're looking at before so this is not trends fighters lines that you can then pick this is you choose which trend line

7:46preferences that you want and that match or style and then you're able to go from there so analysis type is the first one notice here I can change my drawing input from WIC Twix to body to body so if you are someone who's drawing body to body instead of WIC Twix you can use that and then the system and this isn't really relevant for crypto but if you do

8:07want to ignore or respect gaps in price you can also do that here so you know something like Tesla or one of your really gappy stocks is going to give you a different view then necessarily you would get just with something like S&P 500 or the spy that doesn't really have those huge gaps and so there's a lot of different ways that you can actually use

8:30this and it's not just one setting said that you have to choose from it's it's a ton of different settings and that's what really makes it unique and flexible so you're not just using you know one setting and that's it notice here you will have some of these trend lines that are kind of random but notice how this is really more of a line best fit so the system is not going to

8:52always draw the trend lines perfectly pretty and you know everyone wants to see a pretty trend line drawing sometimes you're going to have these line of best fits that and look at how perfectly the price action is still respecting this area you've got it you know multiple times you're not always going to have a perfect touch but you can see how well the price has really

9:12respected these areas give or take a few percent quite a few times so you know that that really takes me into the next part of train slider as we talked about the alerts and so let's say that I want to watch this trend line and notice here if i zoom in you know we didn't necessarily hit this exact trendline right we we got close but we did not actually hit it so what you're able to

9:39do is you're able to create an alert on the trend line but instead of saying alert me when the price hits this exact area you can right click and create an alert that has what's called sensitivity or pretty much as margin of error so as I move this back and forth you'll see this purple area gets bigger and smaller so rather than me having to go and say

10:01all right you know I need to put in 10 layered alerts so I don't miss you know if we miss this by a couple of bucks I can use a sensitivity feature and say okay I want to be alerted when the the price gets within two hundred and forty-one dollars from this zone and then you can say all right well maybe I'm swing trading the daily but I I want to actually execute on the 30 minute or

10:25something like that where you have to wait but you don't have to wait for the full daily candle to actually confirm or close so this allows you to be a swing trader but also have those you know those intraday alerts so you can really play the daily candle but be alerted when when the thirty minute touches this area so when I do confirmation candle 30

10:47that just means anytime the 30 minute candle closes anywhere within this purple area I'll be alerted so that's one of the alerts I could also go to breakthrough which would just simply you know with the breakthrough you don't really need sensitivity because you're essentially having the system alert you whenever the price actually breaks through this line so it's it's

11:06very flexible it's not just like you know your average alert system this is something that's very proprietary to trans fighter and you know it really helps you not have to sit in front of the chart all day I mean you know some people may even play this on the weekly chart and make alerts on the weekly chart so you know there's all different types of ways to use the platform it's

11:28not just for day traders it's not just for swing traders you can even use the Senate as an investor if you're just looking at a longer timeframe mm-hmm yeah that's a really cool function with the with the margin of error I haven't seen that before and I was researching into your other tools and I saw that you also have the market scanner which helps

11:46you find good charts and charts that are you know about to explode can you talk a little bit about how that works yeah so if you see here I just went to this market scanner button anytime anything's toggled on the on the screen it will turn green and it will pop up at least the market scanner will pop up below and so what you can do is you can go in let's do you know crypto Mac Mac

12:10view cross and what you can do is you can go in make sure that you type in or click this crypto list button and let's say that I want to scan for you know aetherium on all the different exchanges this allows you to kind of find possibly inefficiencies between one exchange and the other or confluence between exchanges so that is that is something you can do you can also just go to

12:38completely let's do finance all spot symbols you could do this and let's say you simply just want to look for a MACD cross as I mentioned it's boolean algebra it's not it's not scripting so you simply would go to the daily indicator and you go down to MACD has crossed up through the daily MACD signal so that's just a simple bullish MACD

13:06cross and then we can scan across finance for all of these different things in this case we're not seeing anything right now the thing that I did mention is the handle so the current handle is something that let's say that you're trading what's called enforce meaning that you're trading something that actually is still forming so let's say that you're maybe looking at the weekly

13:28candle and a hammer is possibly forming then you can actually scan that hammer while it's still forming even though it may not you know actually closes the hammer it allows you to kind of get a sneak peak on what these candles are doing let's say Thursday night right before go for stocks or let's say on Sunday for crypto you're able to kind of do that so in this case let's go to know

13:55maybe the weekly chart I'm not sure if this is gonna pull anything up but if we let's say the weekly MACD and the current candle we would actually be scanning for weekly MACD crosses here so here's one right here B&B you can see if we go to the weekly chart you will essentially see that the MACD is trying to cross here but notice for this particular week it's not over

14:17yet so this doesn't necessarily have to cross but you're able to kind of get a sneak peak on what is potentially crossing so another one is X RB x RP BTC pair and you can kind of see that starting across as well so it's something that really really allows you to not only search for things that Barney happen but things that are actually currently happening and what we

14:41call enforce very cool yeah it's that's in that very handy tool and that's just the MACD cross you know if I don't want to get too deep into it but you can really create any type of condition let's say you want a the weekly MACD cross and let's say you want to add you know a daily RSI to break to the upside you can do that as well and as I mentioned I'm not even sure if this rule

15:05will pull anything up but let's say MACD 10 excuse me our side crossed up through the constant level of 40 you know you can do that as well I'm not sure if that will actually pull up the two symbols that we already went over but you're really able to get deep into these conditions without having to get into you know two pages of code mm-hmm Wow that's great well we're running

15:32short on time but I know we've looked over the current functions you know some of the current functions I know you guys have so many but could you talk a little bit about in the future Fortran Spyder do you guys have more products and releases that are you have upcoming throughout the rest of 2020 as well yes so we are actually working on our second half the year roadmap this

15:53week but really the end goal of trend spider is to be able to trade through transpires so whether that's integrating your brokerage account and trading through the API so you're you're you know able to get the data from your broker because a lot of people you know there's a lot of different sources of data out there may be one source you're looking at is a couple ticks off from

16:16another source and you know the last thing you want is to be trading off something that's not on your brokerage so we really want to be able to integrate all broker data so you're able to trade off the data that you're actually making trades off of right now we do have real time data but it isn't actually you know you can trade from coin based data or you can trade from

16:38this you can do that technically so it's when I type in BTC USD point base it will pop up but you know let's let's say like you know a particular stock if you're trading maybe on TD Ameritrade verse swab you may have some very slight discrepancies and so being able to trade through your own broker and then eventually kind of automating the whole process is kind of where we see this but

17:04the main goal of transpire is always to continue to innovate so that is really our number one goal we are about to release some analyst different features that allow you to essentially back test an analyst so let's say the analyst is you know been bearish on at the last five years you can say all right welcome to back test you know two weeks after they made this call and see if they were

17:26right or not or six months whatever cases so really just kind of getting back to that efficiency efficiency question that everyone has and just trying to make everything more efficient and in less biased mm-hmm yeah very cool that's a major your update and it'd be great we could end the screen share we could see your face right before we go and and here you

17:48know how can viewers learn more about transpire or get involved with a community yes so we have a lot of different channels that were kind of on so Twitter I'd say is our biggest channel and the thing about Twitter is we we don't just post random stuff we post things to to educate to share knowledge let's say that we find something new about a rain drop chart

18:10which we didn't touch on but we can maybe put a little link in there for people to check out so the whole point of it is really to you know to make make the whole process more efficient and you know I think I think that is kind of so my partner Dan he's always been in that side of things he's always wanted some process that's manual to become more efficient through automation and there

18:36are parts of trading that just can't be automated I mean there is discretion that you have to kind of have but you know being able to being able to not only innovate and share that knowledge on Twitter is huge and show ways how you can be more efficient not just tell you you know kind of show you okay here's an here's a video of me doing it so there's

18:56a lot of good information on there if you are new trader we do have some resources that you can check out and transporter comm is where you can check out all the pricing and all that good stuff great thank you so much Jake I will leave the link to transpire calm as well as your Twitter and your community of links in the description box below thank you so much for the time all the

19:15best with transpire are moving forward and let's follow up in the near future thank you so much thanks for including us and have a great day you