Topic: Are you using trading indicators? - page 7. (Read 1008 times)
The indicator does not specifically provide any buy or sell signals; the trader must interpret the signals to determine trade entry and exit points that fit his or her own unique trading style. Several different types of indicators exist, including those that explain trend, momentum, volatility, and volume.
There are times when I've turned on/had indicators default loaded and they do look like they be used to find where resistence may be in some cases but I don't think they're very accurate.
You're better off drawing lines of support and resistance and backing up your drawings with indicators if you're just starting out (also don't use futures until you're confident and have done spot or paper for a while).
You're better off drawing lines of support and resistance and backing up your drawings with indicators if you're just starting out (also don't use futures until you're confident and have done spot or paper for a while).
I am definitely using trading indicators, to see market status just like what was mentioned by the others. When market status is determined, then trading decisions could be formulated and done accordingly. Indicators are significant tools that really eases trading for me, and somehow lessens my impulsive trading and losing moments. So, that’s for my personal experience using such.
LoL to those user that didn’t use indicators while it was made fo convenience in trading and to avoid a long mathematical computation for the price probability using the past data. Those user that didn’t use indicators are dumb traders which trades based on there emotion and feelings.
There’s a lot of indicators and possible combinations but the only indicator I’m using the EMA 200, EMA 100 and EMA 50 as guide for determining the trend. It’s very effective in my case because I’m trading using longer time frame and EMA is giving an accurate line result for long time frames data in the past.
There’s a lot of indicators and possible combinations but the only indicator I’m using the EMA 200, EMA 100 and EMA 50 as guide for determining the trend. It’s very effective in my case because I’m trading using longer time frame and EMA is giving an accurate line result for long time frames data in the past.
I just want to ask this question, are you using indicator for trading? If using it for trading, is it helping you. I just want to go beyond what we are reading online and see what people will have on this.
If you are using indicators for trading, which ones have you used that make a good trades for you?
I do. I don't think there's a trader that isn't using an indicator for venturing into trading, even experts do use it still even if they are knowledgeable enough for the market. I'm more on the lines, volumes, RSI and even Fibonacci indicator, these are just my favorite ones. I wouldn't bloat all them on a chart though as it will be unreadable on my end, I try to be clean as possible on my charts so I can read it more clearly and understand it better. If you are using indicators for trading, which ones have you used that make a good trades for you?
I mostly follow the teachings of this subreddit where they use:
- 3/8 Exponential Moving Average (EMA) cross
- 50-/100-/200-day (Simple Moving Average) SMA's
- and On-Balance Volume (OBV)
I mainly use the 3/8 EMA to identify the entry for a particular a asset using the 5-Minute TF (M5). The SMA's, on the other hand, is used to help me identify which directional bias is ideal on a particular trade including the volume. These 3 indicators, along with the simple S/R, are the only ones I've used to ascertain the market. And personally, the fewer indicators, the better.
Moreover, since the reddit group are primarily trading in stocks, some of the indicators they used such as IOP isn't available in crypto, so before doing any trades, and as an alternative, I do a quick eye scan on the LiveCoinWatch.com to see which of the alts are showing signs of RS/RW that could give you a bigger picture of the overall market sentiment. Because they said that it is important to see the status of the market first before doing any trades.
- 3/8 Exponential Moving Average (EMA) cross
- 50-/100-/200-day (Simple Moving Average) SMA's
- and On-Balance Volume (OBV)
I mainly use the 3/8 EMA to identify the entry for a particular a asset using the 5-Minute TF (M5). The SMA's, on the other hand, is used to help me identify which directional bias is ideal on a particular trade including the volume. These 3 indicators, along with the simple S/R, are the only ones I've used to ascertain the market. And personally, the fewer indicators, the better.
Moreover, since the reddit group are primarily trading in stocks, some of the indicators they used such as IOP isn't available in crypto, so before doing any trades, and as an alternative, I do a quick eye scan on the LiveCoinWatch.com to see which of the alts are showing signs of RS/RW that could give you a bigger picture of the overall market sentiment. Because they said that it is important to see the status of the market first before doing any trades.
Relative strength index like the name is to know the strength of market and where price have been going to so it helps traders although it has a fault that when market direction have changed to buy, it still stays down indicating for overbought until it will slowly change to buy signal. Apart from RSI, drawing of lines and chart are good, mastering candlestick is also good but on a longtime.
Most traders use Moving Average Convergence Divergence (MACD)[1], Balance Volume (OBV)[2], and Relative Strength Index (RSI)[3], as a basic indicators for trading, they help in determining entry and exit points, which can be the basis for placing buy and sell orders.
these indicators should not be separated from metrics such as results from the glassnode, volumes of withdrawals from platforms, news, and analysis of market psychology.
These metrics above are based on Bitcoin trading and a few altcoin pairs.
As for the rest of the altcoins, they are just speculations, relying on news more than technical analysis.
[1] https://www.investopedia.com/terms/m/macd.asp
[2] https://www.investopedia.com/terms/o/onbalancevolume.asp
[3] https://www.investopedia.com/terms/r/rsi.asp
these indicators should not be separated from metrics such as results from the glassnode, volumes of withdrawals from platforms, news, and analysis of market psychology.
These metrics above are based on Bitcoin trading and a few altcoin pairs.
As for the rest of the altcoins, they are just speculations, relying on news more than technical analysis.
[1] https://www.investopedia.com/terms/m/macd.asp
[2] https://www.investopedia.com/terms/o/onbalancevolume.asp
[3] https://www.investopedia.com/terms/r/rsi.asp
Just like you I was using RSI to determine if it is overbought or oversold as well as looking for divergences that may indicate if it was a bullish or bearish market. Different traders have different kind of analysis some users only rely on support and resistance and candlestick movement but that doesn't mean that it is not effective. So yes I am using indicator and it help me to understand more what the market is telling.
It is quite a while I have been on this forum, I have noticed some people saying they are not using trading indicators for trading, some people highly recommend people to use indicators. As for me, I have noticed to better draw lines or just carefully look at the candle sticks which significantly got me many information about the next steps to take. Out of all the indicators, I have preferred the RSI but which I can still also predict from the candle stick and I like drawing lines which can easily indicate the extent market increase or fall.
I just want to ask this question, are you using indicator for trading? If using it for trading, is it helping you. I just want to go beyond what we are reading online and see what people will have on this.
If you are using indicators for trading, which ones have you used that make a good trades for you?
I just want to ask this question, are you using indicator for trading? If using it for trading, is it helping you. I just want to go beyond what we are reading online and see what people will have on this.
If you are using indicators for trading, which ones have you used that make a good trades for you?
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