What are the recommended settings for using the True Strength Indicator on digital currency charts?

3 answers

• Dec 15, 2021 · 3 years ago
  The recommended settings for using the True Strength Indicator on digital currency charts may vary depending on your trading strategy and preferences. However, a commonly used setting is a period of 14. This means that the indicator will analyze the strength of the digital currency over the past 14 periods. You can adjust this setting based on your trading style and the time frame you are analyzing. It's important to note that the True Strength Indicator is just one tool among many, and it should be used in conjunction with other indicators and analysis techniques to make informed trading decisions.
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• Dec 15, 2021 · 3 years ago
  When it comes to the True Strength Indicator on digital currency charts, there is no one-size-fits-all setting that can guarantee success. It's important to experiment with different settings and find what works best for your trading style and the specific digital currency you are analyzing. Some traders may find that a shorter period, such as 7, provides more responsive signals, while others may prefer a longer period, such as 21, for a smoother trend analysis. Ultimately, it's up to you to find the settings that align with your trading strategy and goals.
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• Dec 15, 2021 · 3 years ago
  As an expert at BYDFi, I can tell you that the recommended settings for using the True Strength Indicator on digital currency charts can vary depending on the market conditions and the specific digital currency you are trading. It's important to consider factors such as volatility, liquidity, and the time frame you are analyzing. Additionally, it's always a good idea to backtest different settings and evaluate their performance before implementing them in live trading. Remember, the True Strength Indicator is just one tool in your trading arsenal, and it should be used in conjunction with other indicators and analysis techniques to increase your chances of success.
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