What are the best candlestick settings to use for trading cryptocurrencies on TradingView?

3 answers

• Dec 18, 2021 · 3 years ago
  When it comes to choosing the best candlestick settings for trading cryptocurrencies on TradingView, it largely depends on your trading strategy and time horizon. If you're a day trader, you might want to focus on shorter time frames like 5-minute or 15-minute candles to capture short-term price movements. On the other hand, if you're a long-term investor, you might prefer longer time frames like daily or weekly candles to identify trends and make informed investment decisions.
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• Dec 18, 2021 · 3 years ago
  In my experience, I've found that using the default candlestick settings on TradingView works well for most traders. The default settings typically include daily candles, which provide a good balance between capturing short-term price movements and identifying long-term trends. However, it's important to note that every trader is different, so it's worth experimenting with different time frames and candlestick types to find what works best for you.
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• Dec 18, 2021 · 3 years ago
  Based on my experience at BYDFi, many professional traders on TradingView prefer using 4-hour or 1-hour candles for cryptocurrency trading. These time frames allow them to capture both short-term price movements and identify longer-term trends. Additionally, using candlestick types like Heikin Ashi or Renko can provide a smoother representation of price action, which can be helpful for identifying trends and making trading decisions. Remember, it's important to find the settings that align with your trading strategy and personal preferences.
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