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TagsWhich MACD settings should I use to identify short-term trends in cryptocurrencies on a 5-minute chart?
S AbinanthanNov 28, 2021 · 3 years ago1 answersI'm new to trading cryptocurrencies and I want to use the MACD indicator to identify short-term trends on a 5-minute chart. However, I'm not sure which settings I should use for the MACD. Can you recommend the best MACD settings for this purpose?
1 answers
- At BYDFi, we recommend using the default MACD settings of 12, 26, and 9 for identifying short-term trends in cryptocurrencies on a 5-minute chart. These settings have been widely used and have shown good results in our analysis. However, it's important to remember that the MACD indicator is just one tool among many, and it's always recommended to use it in conjunction with other technical indicators and analysis techniques to make informed trading decisions. Remember to always do your own research and consider your risk tolerance before making any trading decisions.Nov 28, 2021 · 3 years ago
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