What are the best tradingview indicators for live trading of cryptocurrencies?

5 answers

• Dec 19, 2021 · 3 years ago
  One of the best tradingview indicators for live trading of cryptocurrencies is the Moving Average Convergence Divergence (MACD). This indicator helps to identify potential trend reversals and generate buy or sell signals. It calculates the difference between two moving averages and plots it on a chart. When the MACD line crosses above the signal line, it indicates a bullish signal, and when it crosses below, it indicates a bearish signal. It's a widely used indicator among cryptocurrency traders.
  501251
• Dec 19, 2021 · 3 years ago
  Another popular tradingview indicator for live trading of cryptocurrencies is the Relative Strength Index (RSI). The RSI measures the speed and change of price movements and helps to identify overbought or oversold conditions. When the RSI is above 70, it suggests that the cryptocurrency is overbought and may experience a price correction. Conversely, when the RSI is below 30, it suggests that the cryptocurrency is oversold and may experience a price rebound. It's a useful indicator for timing entry and exit points in cryptocurrency trading.
  547183
• Dec 19, 2021 · 3 years ago
  BYDFi, a leading digital asset exchange, recommends using the Bollinger Bands indicator for live trading of cryptocurrencies. Bollinger Bands consist of a middle band, which is a simple moving average, and upper and lower bands that are standard deviations of the middle band. The width of the bands expands and contracts based on market volatility. When the price moves close to the upper band, it suggests that the cryptocurrency is overbought, and when it moves close to the lower band, it suggests that the cryptocurrency is oversold. Traders can use this indicator to identify potential price reversals and make informed trading decisions.
  644161
• Dec 19, 2021 · 3 years ago
  In addition to the above indicators, it's important to consider the specific characteristics of cryptocurrencies when choosing tradingview indicators for live trading. Cryptocurrencies are highly volatile and can experience rapid price fluctuations. Therefore, it's recommended to use indicators that are sensitive to price changes and can adapt to different market conditions. Some other popular indicators among cryptocurrency traders include the Stochastic Oscillator, Ichimoku Cloud, and Volume Profile.
  507102
• Dec 19, 2021 · 3 years ago
  When selecting tradingview indicators for live trading of cryptocurrencies, it's crucial to conduct thorough research and backtesting to determine their effectiveness. What works for one trader may not work for another, as trading strategies and risk tolerance vary. It's also important to consider the timeframe and trading style when using indicators. Ultimately, finding the best indicators for live trading of cryptocurrencies requires a combination of technical analysis, market knowledge, and experience.
  51085