Which tradingview support and resistance indicators are popular among cryptocurrency traders?

5 answers

• Nov 29, 2021 · 3 years ago
  One popular support and resistance indicator used by cryptocurrency traders on TradingView is the Moving Average. This indicator helps identify key levels of support and resistance by smoothing out price data over a specific time period. Traders often use the 50-day and 200-day moving averages to identify long-term support and resistance levels. The crossover of these moving averages can also signal potential trend reversals.
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• Nov 29, 2021 · 3 years ago
  Another commonly used support and resistance indicator on TradingView is the Fibonacci retracement tool. This tool is based on the Fibonacci sequence and helps identify potential levels of support and resistance based on key Fibonacci ratios. Traders often use the 38.2%, 50%, and 61.8% retracement levels as areas of interest for potential price reversals.
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• Nov 29, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers its own support and resistance indicator called the BYDFi Support/Resistance Indicator. This indicator uses advanced algorithms to identify key levels of support and resistance based on historical price data. Traders can use this indicator to make more informed trading decisions.
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• Nov 29, 2021 · 3 years ago
  In addition to the Moving Average and Fibonacci retracement tool, cryptocurrency traders on TradingView also commonly use trendlines and horizontal support and resistance levels. Trendlines are drawn by connecting consecutive highs or lows on a price chart and can help identify the direction of the trend. Horizontal support and resistance levels are horizontal lines drawn at key price levels where the price has historically struggled to break through.
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• Nov 29, 2021 · 3 years ago
  When it comes to support and resistance indicators on TradingView, it's important for cryptocurrency traders to find the ones that work best for their trading strategy. Experimenting with different indicators and combining them with other technical analysis tools can help traders identify potential support and resistance levels more accurately.
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