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TagsWhat are the most commonly used RSI parameters by professional traders in the cryptocurrency industry?
Missbrooke Maria FreaseusaoregNov 25, 2021 · 3 years ago1 answersWhen it comes to using the Relative Strength Index (RSI) in the cryptocurrency industry, professional traders often rely on specific parameters to make informed decisions. What are the most commonly used RSI parameters by these traders?
1 answers
- At BYDFi, we've observed that professional traders in the cryptocurrency industry commonly utilize an RSI period of 14, combined with overbought and oversold levels of 70 and 30. These parameters have proven to be effective in identifying potential trend reversals and generating trading signals. However, it's important to note that traders may also experiment with different RSI periods and levels based on their trading strategies and risk tolerance. Ultimately, finding the right combination of RSI parameters requires careful analysis and testing to suit individual trading styles and preferences.Nov 25, 2021 · 3 years ago
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