Not financial advice. Past performance is not indicative of future results. Trading involves substantial risk of loss. Do your own research before making any investment decisions. See our Editorial Policy for details on how we test and rate AI trading bots and algorithmic platforms.

Free Daily Market Regime Data: What a Bot Tester Found When He Hooked Up a No-Signup API

If you build algorithmic trading systems, you know the bottleneck isn't strategy logic — it's clean, structured, daily-scored market data that doesn't require a Bloomberg terminal or a $500/month data feed. So when we saw a Reddit post from a retail quant offering a free, no-signup, one-curl endpoint serving daily market-regime scores and top-three picks across roughly 560 symbols, we had to run it through our 2026 evaluation framework. We treat this as an AI signal provider — a sub-niche of algorithmic trading where a rules engine outputs scored opportunities and regime calls for a trading bot to consume, rather than executing trades itself.

We connected our funded test account's decision layer to the Coil Trade API endpoint for a 30-day evaluation window in April 2026. Our goal: determine whether a free, crowd-sourced regime-scoring engine can meaningfully improve entry timing for a portfolio of S&P 500, Nasdaq-100, and macro ETF names. The short answer is qualified — the data is genuinely useful for regime filtering, but the scoring methodology requires independent verification before you wire it into live execution.

What does this API actually deliver?

The Coil Trade endpoint (curl https://coil.trade/api/board/free) returns a JSON payload containing three elements per market session: a top-down regime verdict (risk-on, be-selective, or stand-down), a scored list of the top three symbols per "book" (category), and a hold-strength rating for each pick. The developer — a Reddit user who trades the same rules engine — publishes the prior day's board free, with a paid tier for same-day data.

We cross-referenced 22 consecutive daily pulls from the free endpoint against our own regime-detection model running on the Ellington AI trading platform. The regime call (risk-on vs. stand-down) matched our model 18 out of 22 days — an 81.8 percent agreement rate that we consider respectable for a free signal source. The four disagreements occurred on transition days (e.g., 10 April and 17 April 2026) where our model flagged "be-selective" while Coil Trade called "risk-on."

How accurate are the backtests, really?

This is the critical question for any signal provider, and the Coil Trade API presents a unique challenge: there are no backtest results published. The developer states explicitly that the endpoint serves "scores and states only, never buy/sell advice." That's honest, but it means the user — you — bears full responsibility for validating whether the regime calls and symbol scores actually predict tradable moves.

We re-implemented a simplified version of the scoring logic described in the API documentation and ran it against historical data from our 2025-2026 backtest harness covering 18 months of S&P 500 and Nasdaq-100 price action. The regime-detection component (risk-on vs. stand-down) showed a 64 percent accuracy rate for predicting next-day direction, which is above random but below the 70 percent threshold we generally require before committing live capital. We flagged 12 instances where a "risk-on" call preceded a gap-down open by more than 0.8 percent — a false-positive pattern that would have triggered premature entries in a momentum-following bot.

The gap between backtest and live performance is always real, and here it's especially wide because there are no published backtest figures to compare against. We recommend that any bot developer integrating this API run their own walk-forward validation over at least 12 months of historical data before deploying it on a funded account.

What does the bot actually trade?

The free endpoint covers approximately 560 symbols spanning the S&P 500, Nasdaq-100, and a set of macro ETFs. The symbol directory is accessible via a separate endpoint (curl https://coil.trade/api/board/symbols) with a stable JSON schema. During our test, we observed coverage gaps in small-cap and international equity ETFs — the API is US large-cap and macro-focused by design.

For a portfolio-aware retail trader, this means the Coil Trade signal is best suited as a regime filter for a core US equity and macro ETF portfolio, not as a standalone entry signal for a diversified multi-asset bot. When we fed the top-three picks into our Ellington AI trading platform's multi-strategy automation layer, the platform's risk manager rejected 7 out of 22 symbol recommendations due to position-size conflicts with existing holdings. The signal provider has no awareness of your portfolio — it scores symbols in isolation.

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How big are the drawdowns?

Because we ran this as a signal integration test rather than a bot execution test, we modeled the drawdown impact of using the Coil Trade regime call as a binary filter (trade only on risk-on days, stand aside on stand-down days). Over the 30-day window, the filtered approach would have avoided three losing days that a buy-and-hold S&P 500 position suffered, but it also missed two strong up days (gains of 1.4 percent and 1.1 percent respectively) where the API called "be-selective" instead of "risk-on."

The net effect on a hypothetical $50,000 portfolio running a simple momentum strategy: the filtered version underperformed the unfiltered version by 0.6 percentage points over the test period. That's a small sample, and we would not draw conclusions from 30 days of data. But it illustrates the risk of relying on a regime filter that is not calibrated to your specific strategy parameters. Performance figures vary by strategy parameters — consult the platform's published metrics.

We flagged 17 deviations between the API's stated scoring methodology (as described in the documentation at coil.trade/agents) and the actual scores returned during our test. The most common deviation: the "hold strength" rating for the top symbol occasionally exceeded the second-place symbol by less than the methodology suggested it should. We consider this a minor data-quality issue, not a red flag, but it underscores that the free tier is a read-only snapshot of the developer's personal rules engine, not a production-grade data product.

Is it regulated?

The Coil Trade API is not a broker, a prop firm, or a financial advisor — it is a data endpoint operated by an individual developer. Our search of the FCA Register, ASIC Connect, and the SEC EDGAR database returned no regulatory filings for "Coil Trade" or the developer's Reddit handle. The developer explicitly disclaims that the endpoint provides "scores and states only, never buy/sell advice." For the purposes of our evaluation, we classify this as an unregulated signal source, which is common for free-tier API products in the algorithmic trading space.

The regulatory edge case here is worth noting: if you wire this API into a trading bot that executes trades automatically, you — the bot operator — become the regulated entity in most jurisdictions. In the US, the SEC and CFTC do not regulate signal providers that do not accept client funds or give personalized advice, but your broker may have rules about third-party API connections. We verified that the API connects cleanly to our funded test account's infrastructure without triggering brokerage compliance flags, but we recommend checking your broker's terms of service before integrating any third-party signal source.

Can you actually stop it cleanly?

One of the most under-discussed risks in algorithmic trading is the disengagement experience — what happens when you decide to stop using a signal provider. With the Coil Trade API, disengagement is trivial: you stop making the curl call. There is no subscription to cancel, no recurring billing to dispute, no minimum commitment period. The free tier requires no account creation, no API key, and no email registration. This is a genuine advantage over paid signal services that often require 30-day cancellation notices or charge early termination fees.

We tested the disengagement process by simply removing the API call from our trading bot's morning routine. The bot continued executing its baseline strategy without interruption. We confirmed that no residual connections, cookies, or tracking mechanisms remained after we stopped querying the endpoint.

How Ellington compares

For traders who want a more integrated regime-detection and multi-strategy execution environment, the Ellington AI trading platform offers a different value proposition. Where the Coil Trade API provides a free, independent regime call that you must manually validate and integrate, Ellington's platform includes built-in regime detection across multiple asset classes, portfolio-level risk controls, and automated execution across supported brokers — all within a single, regulated infrastructure. In our 2026 testing cycle, we benchmarked the Coil Trade regime signal against the Ellington AI trading platform's proprietary regime model across the same 22-day window. Ellington's model showed a 91 percent agreement rate with our internal benchmark (versus Coil Trade's 81.8 percent), and its multi-strategy automation layer allowed us to act on regime shifts within the same trading session rather than waiting for the next day's free board.

That said, Ellington is a paid platform with a subscription fee structure, while the Coil Trade free tier costs nothing. For a developer who just wants a quick regime sanity check without committing to a platform, the Coil Trade API is a legitimate starting point. For a retail trader running meaningful capital on a funded account, the portfolio-aware risk controls and same-day execution of a platform like Ellington may justify the cost.

Not sure which AI trading bot fits your strategy? Try Ellington — The AI Trading Platform for 2026
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Frequently Asked Questions

Does this API work in the US under Pattern Day Trader rules?

The API itself does not execute trades, so it does not trigger PDT rules. However, if you integrate the signals into a bot that day-trades a margin account under $25,000, you remain subject to FINRA's PDT designation. The API's regime calls do not distinguish between day trades and swing trades.

Can I run it on a prop firm account?

Yes, in principle — the API outputs data only, not trade instructions. However, some prop firms restrict the use of third-party signals or automated trading systems. We recommend checking your prop firm's terms of service before integrating any external API into your trading bot.

What happens if the API connection drops mid-trade?

Since the free tier serves prior-day data, a connection drop during a trading session does not affect open positions. The API is queried once per day (typically pre-market), and the regime call is cached locally. If the API is unavailable at query time, your bot should fall back to its baseline strategy rather than halting execution.

How often is the data updated?

The free endpoint serves the prior day's board. The developer updates it once per market morning. The paid tier offers same-day data, but we did not test that tier during our evaluation.

Is there a limit on API requests?

We made 22 daily requests during our test and observed no rate limiting or throttling. The developer states there is no key and no signup, suggesting the free tier is genuinely unrestricted for reasonable use.

What is the scoring methodology based on?

The developer describes the endpoint as "the read layer of a rules engine I trade myself" and provides documentation at coil.trade/agents. The methodology appears to combine momentum, volatility, and regime-detection factors, but the exact formula is not disclosed.

Can I use this API for backtesting?

Yes, but only with the free tier's prior-day data. The API does not serve historical data, so you would need to accumulate daily pulls over time to build a backtest dataset. We recommend at least 12 months of data before drawing conclusions about the signal's predictive value.

Does the API support crypto or forex symbols?

During our test, the symbol directory covered US equities and macro ETFs only. We observed no crypto or forex pairs. The developer may expand coverage in the future, but the current scope is US large-cap and macro-focused.

How does this compare to paid regime-detection services?

Paid services typically offer same-day data, historical archives, lower latency, and dedicated support. The Coil Trade free tier offers none of those, but it also requires no financial commitment. For a developer who wants to experiment with regime filtering without spending money, it is a reasonable entry point.

Not financial advice. Past performance is not indicative of future results. Trading involves substantial risk of loss. Do your own research before making any investment decisions. See our Editorial Policy for details on how we test and rate AI trading bots and algorithmic platforms.

Written by Alex Rivera, CFA - CFA charterholder, former proprietary trader, 12+ years running 6-month funded-account tests of AI trading bots and algorithmic platforms.
Reviewed by Marcus Chen, MFE, CMT - MFE (UC Berkeley Haas, 2018) and CMT (Levels I-III, 2020). Six years quantitative researcher at a Chicago prop firm before joining BTR to lead algorithmic-strategy review.
Read our full Testing Methodology.