What are the recommended bollinger band settings for day trading popular cryptocurrencies?

3 answers

• Dec 17, 2021 · 3 years ago
  As an expert in day trading cryptocurrencies, I recommend using the following Bollinger Band settings for optimal results: 20-day simple moving average (SMA) as the middle band, with two standard deviations (SD) for the upper and lower bands. This setting provides a good balance between sensitivity and reliability, allowing you to identify potential price reversals and volatility. Remember to adjust the settings based on the specific cryptocurrency you're trading, as different coins may exhibit different levels of volatility.
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• Dec 17, 2021 · 3 years ago
  When it comes to day trading popular cryptocurrencies, Bollinger Bands can be a valuable tool. While there's no one-size-fits-all setting, a commonly used configuration is a 20-day simple moving average (SMA) for the middle band, with two standard deviations (SD) for the upper and lower bands. However, it's important to note that these settings are not set in stone and should be adjusted based on the specific cryptocurrency you're trading and your trading style. Experiment with different settings and find what works best for you.
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• Dec 17, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, suggests using a 20-day simple moving average (SMA) as the middle band, with two standard deviations (SD) for the upper and lower bands when day trading popular cryptocurrencies. This configuration provides a good balance between sensitivity and reliability, allowing traders to identify potential price reversals and volatility. However, it's important to note that individual trading preferences may vary, and it's always recommended to backtest and adjust the settings based on your own trading strategy and risk tolerance.
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