Which spread indicator MT4 settings should I use for trading cryptocurrencies?

3 answers

• Dec 14, 2021 · 3 years ago
  When it comes to choosing the spread indicator MT4 settings for trading cryptocurrencies, it's important to consider the volatility and liquidity of the specific cryptocurrency you're trading. A good starting point is to use a combination of the Bollinger Bands and the Average True Range (ATR) indicator. The Bollinger Bands can help you identify the upper and lower price levels, while the ATR indicator can give you an idea of the average price range. By using these indicators, you can get a better understanding of the price volatility and adjust your trading strategy accordingly.
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• Dec 14, 2021 · 3 years ago
  In my experience, I've found that using a combination of the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) can be effective for trading cryptocurrencies on the MT4 platform. The MACD can help you identify the trend direction and potential entry/exit points, while the RSI can indicate overbought or oversold conditions. It's important to note that these settings may vary depending on the specific cryptocurrency you're trading, so it's always a good idea to backtest different settings and see which ones work best for you.
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• Dec 14, 2021 · 3 years ago
  At BYDFi, we recommend using the Ichimoku Cloud indicator for trading cryptocurrencies on the MT4 platform. The Ichimoku Cloud provides a comprehensive view of the price action, including support and resistance levels, trend direction, and potential reversal points. It consists of multiple components, such as the Tenkan-sen, Kijun-sen, Senkou Span A, and Senkou Span B. By analyzing these components, you can make more informed trading decisions. However, it's important to note that the effectiveness of the Ichimoku Cloud may vary depending on the cryptocurrency and market conditions, so it's always a good idea to combine it with other indicators and conduct thorough analysis.
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