Hello dYdX Community!
We’re thrilled to unveil the final working version of our analytics dashboard that showcases v3 volume. This demonstration serves as a testament to the potential we can seamlessly harness for v4 and beyond.
Why It’s Useful?
Adaptable Across Devices: Whether you’re on a 48" monitor, 13" laptop or a mobile, our dashboard conforms to every screen size perfectly, ensuring optimal user experience.
Volume Spike Detection: The average line inclusion enables users to effortlessly discern when volume surges above the average. This feature is pivotal for pinpointing amplified interest in certain assets.
Aggregate Market Volume Insight: Gain a consolidated view of combined market volume. This aggregated perspective, absent even on renowned platforms like TradingView, is essential given the synchronized movement of crypto markets with BTC.
Granularity Meets Flexibility: Tailor data display based on specific timeframes, choosing from the past 100, 50, 20, or 10 bars. Moreover, our dashboard facilitates coin selection based on your preferences, be it SOL, COMP, CRV, AVAX, BCH, or any other combination. Now, easily detect potential volume spikes for multiple coins in one consolidated view, negating the need to juggle numerous screens.
Auto-Refresh & Interactive Details: No more incessant refreshing to get the latest data. Our dashboard updates in real-time, providing you with up-to-the-minute insights.
Deep Dive into Volume Details
For those with an appetite for intricate data, our dashboard has you covered. Simply hover over any bar, and you’ll be treated to detailed insights, such as the individual USD volume per coin for the bar in focus.
Understanding the Importance of Volume in Trading
Volume metrics are foundational pillars for making informed trading decisions, offering a multifaceted view:
Validation of Price Movements: A price trend backed by robust volume lends more credibility and weight. A notable rise or fall in price is seen as more validated when a larger number of traders participate in the buying or selling process.
Spotting Reversals and Liquidations: Volume spikes at the peaks or troughs of price trends can be revelatory. These spikes often coincide with moments when traders are being liquidated, forcing them to close positions. Such liquidations can intensify the movement, signaling a potential reversal or a strong continuation of the trend.
Liquidity Assessment: Volume correlates directly with liquidity. A higher trade volume usually means reduced price slippage, facilitating smoother trade entries and exits.
Unveiling Accumulation/Distribution: Continuous volume trends can hint at whether assets are being accumulated (potentially leading to uptrends) or distributed (possibly indicating downtrends).
Your Voice Matters
Our platform is built for the community, by the community. your feedback is vital for our dashboard’s evolution. We invite you to test It out here: https://www.cipherlabs.xyz/dydx/v3/volume
- Report any encountered bugs or glitches.
- Propose enhancements or features.
- Suggest any additional functionalities you’d like incorporated.
With the launch of v4 on the horizon, we’ve chosen not to invest further in introducing metrics to the current model as it is self funded and designed to be a demo. If we can secure grant support, we aim to craft a comprehensive dashboard rich in v4 metrics.
We encourage you to dive into our new dashboard and collaborate with us in refining it. Together, let’s ensure it becomes an indispensable tool for every dYdX trader.
Thank you for being an instrumental part of this journey!