Which ATR settings are commonly used by successful cryptocurrency traders?

3 answers

• Nov 29, 2021 · 3 years ago
  Successful cryptocurrency traders often use ATR settings of 14 or 21. These settings provide a good balance between capturing price volatility and avoiding excessive noise. By using ATR, traders can determine the average range of price movement over a specific period and adjust their stop-loss and take-profit levels accordingly. This helps them manage risk and maximize potential profits.
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• Nov 29, 2021 · 3 years ago
  Cryptocurrency traders who prefer shorter-term trading strategies may use lower ATR settings, such as 7 or 10. These settings allow them to capture smaller price movements and take advantage of short-term trends. However, it's important to note that lower ATR settings may also result in more frequent false signals, so traders need to be cautious and use additional indicators to confirm their trading decisions.
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• Nov 29, 2021 · 3 years ago
  Based on my experience at BYDFi, a popular cryptocurrency exchange, successful traders often use ATR settings of 14 or 21. These settings have proven to be effective in identifying potential entry and exit points in the market. By considering the average range of price movement, traders can set realistic profit targets and stop-loss levels. However, it's important to note that ATR settings alone are not a guarantee of success. Traders should also consider other factors such as market trends, volume, and news events.
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