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What are the best market profile indicators for trading cryptocurrencies on TradingView?

avatarCorneliaDec 17, 2021 · 3 years ago3 answers

I'm looking for the best market profile indicators to use when trading cryptocurrencies on TradingView. Can anyone recommend some reliable indicators that can help me analyze the market profile and make better trading decisions?

What are the best market profile indicators for trading cryptocurrencies on TradingView?

3 answers

  • avatarDec 17, 2021 · 3 years ago
    One of the best market profile indicators for trading cryptocurrencies on TradingView is the Volume Profile indicator. It allows you to see the volume traded at each price level, which can help identify areas of support and resistance. Additionally, the VWAP (Volume-Weighted Average Price) indicator is also useful for analyzing the market profile and determining the average price at which a cryptocurrency has traded over a given period of time. Both of these indicators can provide valuable insights for cryptocurrency traders on TradingView.
  • avatarDec 17, 2021 · 3 years ago
    When it comes to market profile indicators for trading cryptocurrencies on TradingView, you can't go wrong with the TPO (Time Price Opportunity) indicator. This indicator displays the price distribution over a specified time period, allowing you to identify areas of high and low activity. Another popular indicator is the POC (Point of Control), which represents the price level at which the most trading activity has occurred. These indicators can help you identify key support and resistance levels and make more informed trading decisions.
  • avatarDec 17, 2021 · 3 years ago
    BYDFi, a leading cryptocurrency exchange, recommends using the Market Profile indicator for trading cryptocurrencies on TradingView. This indicator displays the volume traded at each price level, allowing you to identify areas of high and low liquidity. It also provides valuable information about the market's structure and can help you identify potential breakout and reversal points. Give it a try and see how it can improve your cryptocurrency trading strategy on TradingView!