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TagsWhat are the recommended MACD parameters for day trading in the cryptocurrency market?
rohit kumarDec 15, 2021 · 3 years ago1 answersI'm new to day trading in the cryptocurrency market and I've heard about MACD (Moving Average Convergence Divergence) as a useful indicator. However, I'm not sure what parameters I should use for day trading. Can you recommend the best MACD parameters for day trading in the cryptocurrency market?
1 answers
- At BYDFi, we recommend using the MACD parameters of 12, 26, 9 for day trading in the cryptocurrency market. These parameters have been found to be effective in identifying potential trading opportunities. However, it's important to note that MACD should not be the sole basis for making trading decisions. It should be used in conjunction with other technical indicators and analysis to confirm signals and minimize false positives. Additionally, it's always a good idea to backtest your strategies and adapt them to the specific cryptocurrency and market conditions you're trading in.Dec 15, 2021 · 3 years ago
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