What are the most effective tradingview ideas for cryptocurrency day trading?

5 answers

• Dec 16, 2021 · 3 years ago
  Sure! When it comes to using TradingView for cryptocurrency day trading, there are a few ideas that can be quite effective. One popular approach is to use moving averages as indicators. You can set up different moving averages, such as the 50-day and 200-day moving averages, to identify trends and potential entry or exit points. Another idea is to use oscillators like the Relative Strength Index (RSI) or the Stochastic Oscillator to identify overbought or oversold conditions. These indicators can help you spot potential reversals or continuation patterns. Additionally, you can also use chart patterns like triangles, flags, or head and shoulders patterns to identify potential breakouts or breakdowns. Remember to always combine these ideas with proper risk management and analysis of other factors like volume and news events for better decision-making.
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• Dec 16, 2021 · 3 years ago
  Well, if you're looking for some effective tradingview ideas for cryptocurrency day trading, here's one that you might find helpful. You can use the Bollinger Bands indicator to identify periods of low volatility, which are often followed by periods of high volatility. When the Bollinger Bands squeeze together, it indicates that the market is consolidating and a breakout is likely to occur soon. You can set up alerts on TradingView to notify you when the Bollinger Bands squeeze, so that you can be ready to take advantage of the potential breakout. This strategy can be particularly useful in volatile markets like cryptocurrencies.
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• Dec 16, 2021 · 3 years ago
  As an expert in cryptocurrency day trading, I can tell you that using TradingView can be a game-changer. One effective idea is to use the Ichimoku Cloud indicator, which provides a comprehensive view of support and resistance levels, as well as trend direction. The cloud itself represents an area of support or resistance, and the crossover of the Tenkan-sen and Kijun-sen lines can signal potential entry or exit points. Another idea is to use the Volume Profile indicator, which shows the volume traded at different price levels. This can help you identify areas of high liquidity and potential reversal points. Remember, it's important to backtest these ideas and adapt them to your trading style and risk tolerance.
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• Dec 16, 2021 · 3 years ago
  When it comes to cryptocurrency day trading, TradingView can be a valuable tool. One effective idea is to use the MACD (Moving Average Convergence Divergence) indicator. The MACD consists of two lines - the MACD line and the signal line. When the MACD line crosses above the signal line, it's a bullish signal, indicating that it may be a good time to buy. Conversely, when the MACD line crosses below the signal line, it's a bearish signal, indicating that it may be a good time to sell. Another idea is to use the Fibonacci retracement tool to identify potential support and resistance levels. These levels are based on the Fibonacci sequence and can act as areas of price reversal. Remember to always combine these ideas with proper risk management and analysis of other factors like volume and market sentiment.
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• Dec 16, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recommends using TradingView for effective day trading strategies. One idea is to use the RSI (Relative Strength Index) indicator to identify overbought or oversold conditions. When the RSI is above 70, it indicates that the asset may be overbought and due for a potential reversal. Conversely, when the RSI is below 30, it indicates that the asset may be oversold and due for a potential bounce. Another idea is to use the VWAP (Volume-Weighted Average Price) indicator to identify areas of high liquidity and potential support or resistance levels. These indicators can help you make more informed trading decisions. Remember to always do your own research and consider your risk tolerance before implementing any trading strategies.
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