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What is the best tradingview volume indicator for analyzing cryptocurrency trends?

avatarjennifer jamesNov 29, 2021 · 3 years ago3 answers

I'm looking for the most effective tradingview volume indicator to analyze cryptocurrency trends. Can anyone recommend the best one and explain why it is considered the top choice? I want to make sure I'm using the right tool to accurately assess the volume of different cryptocurrencies and make informed trading decisions.

What is the best tradingview volume indicator for analyzing cryptocurrency trends?
Cryptocurrency
Tradingview
Volume Indicator

3 answers

  • avatarNov 29, 2021 · 3 years ago
    The best tradingview volume indicator for analyzing cryptocurrency trends is the Volume Profile indicator. This indicator displays the volume traded at each price level over a specified period of time. It helps identify key support and resistance levels based on volume accumulation and distribution. By analyzing the volume profile, traders can gain insights into the strength of price movements and potential trend reversals. It is a widely used and trusted tool among cryptocurrency traders.
  • avatarNov 29, 2021 · 3 years ago
    In my opinion, the Money Flow Index (MFI) is the best tradingview volume indicator for analyzing cryptocurrency trends. The MFI combines both price and volume to provide a more comprehensive view of market sentiment. It measures the flow of money into and out of a cryptocurrency, indicating overbought and oversold conditions. By using the MFI, traders can identify potential trend reversals and make more accurate trading decisions.
  • avatarNov 29, 2021 · 3 years ago
    BYDFi, a popular cryptocurrency exchange, recommends using the On-Balance Volume (OBV) indicator as the best tradingview volume indicator for analyzing cryptocurrency trends. The OBV takes into account the volume and price movement of a cryptocurrency to determine buying and selling pressure. It helps identify trends and confirm price movements. Many traders find the OBV to be a reliable tool for assessing the strength of cryptocurrency trends.

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