Which indicator on TradingView is most effective for day trading cryptocurrency?

3 answers

• Dec 17, 2021 · 3 years ago
  As an expert in cryptocurrency trading, I highly recommend using the Relative Strength Index (RSI) indicator on TradingView for day trading. RSI is a momentum oscillator that can help identify overbought and oversold conditions in the market. By using RSI in conjunction with other technical analysis tools, you can make more accurate predictions and improve your trading strategy. Happy trading! 💪
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• Dec 17, 2021 · 3 years ago
  In my experience, the Moving Average Convergence Divergence (MACD) indicator on TradingView is quite effective for day trading cryptocurrency. MACD is a trend-following momentum indicator that can help identify potential buy and sell signals. It calculates the difference between two moving averages and plots it as a line on the chart. When the MACD line crosses above the signal line, it indicates a bullish signal, and when it crosses below the signal line, it indicates a bearish signal. Give it a try and see if it works for you! 👍
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• Dec 17, 2021 · 3 years ago
  Based on my research and analysis, the Bollinger Bands indicator on TradingView is a great choice for day trading cryptocurrency. Bollinger Bands consist of a middle band (usually a simple moving average) and two outer bands that are standard deviations away from the middle band. The width of the bands expands and contracts based on market volatility. When the price touches the upper band, it may indicate an overbought condition, and when it touches the lower band, it may indicate an oversold condition. However, it's important to note that no indicator is foolproof, and it's always recommended to use multiple indicators and conduct thorough analysis before making trading decisions. Good luck! 💰
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