What are the best ichimoku cloud settings for trading cryptocurrencies?
EnesDec 17, 2021 · 3 years ago1 answers
Could you please provide some insights on the most effective ichimoku cloud settings for trading cryptocurrencies? I am particularly interested in optimizing my trading strategy using this technical indicator. What are the recommended settings and how can they be applied to cryptocurrency trading?
1 answers
- Dec 17, 2021 · 3 years agoAt BYDFi, we have found that the best ichimoku cloud settings for trading cryptocurrencies are 10, 30, and 60. These settings provide a slightly longer-term perspective compared to the default settings. The conversion line (10) and base line (30) are calculated in the same way as the default settings, while the lagging span (60) represents the closing price plotted 30 periods behind. These settings have been effective in identifying trends and potential entry/exit points in the cryptocurrency market. However, it is important to note that the best settings can vary depending on individual trading preferences and the specific cryptocurrency being traded. It is always recommended to backtest and analyze the performance of different settings before implementing them in live trading.
Related Tags
Hot Questions
- 98
How can I minimize my tax liability when dealing with cryptocurrencies?
- 92
What are the best practices for reporting cryptocurrency on my taxes?
- 88
What are the advantages of using cryptocurrency for online transactions?
- 86
What are the tax implications of using cryptocurrency?
- 69
How does cryptocurrency affect my tax return?
- 69
What are the best digital currencies to invest in right now?
- 42
Are there any special tax rules for crypto investors?
- 38
What is the future of blockchain technology?