Best Technical Analysis Indicator for Bitcoin or ETH

herurist

sr. member

Activity: 1680

Merit: 259

Quote from: tesla80 on April 23, 2018, 06:55:57 AM

Hello,
I'm willing to learn TA, I know TA is not a total solution but I believe it helps understanding the situation.

What are the best matching TA Indicators for BTC or ETH?

A second questions : is there a place for easy backtesting for custom strategies?

Thanks everyone

Indicator built with different purposes and must set with different number. Actually is depend your strategy, for invest please use MACD but for day trading ( scalping, medium ) use MA is enough. Please understand you must set it depend your take profit area, with out that you'll not have price direction. You can use custom strategies in many exchange you like, their platform ( now ) already support it.

k_kuchkarov

full member

Activity: 238

Merit: 103

In this market trend, I do not think technical analysis will help you!
Yes, they can be used to see what might be possible, but now, as I know, they do not help anyone!

hugeblack

legendary

Activity: 2688

Merit: 3983

Technical analysis may not give real results but at least the vision will be clearer. It is best to know some things before you start:
- Market sentiment: The market is the one that gives the currency its value so the current and past supply/demand plays an important role in knowing market sentiment.
- The market is not random: Although decentralized, the market is not random and may also tend to repeat itself.

One of the most important indicators in my opinion is Simple Moving Average - SMA & Exponential Moving Average - EMA

Quote from: https://www.investopedia.com/terms/s/sma.asp

A simple moving average (SMA) is an arithmetic moving average calculated by adding the closing price of the security for a number of time periods and then dividing this total by the number of time periods.

Short-term moving averages: (SMA 5) five-day moving average, (SMA 20) 20-day moving average
Long-term moving averages: (SMA 100) 100-day moving average, (SMA 200) 200-day moving average. Overall, I think these averages are good to see the continuation of the rising and downs.

You do not need to know a lot of things you can just follow this person https://www.coindesk.com/author/ogodbole/

HabitsIntensified

newbie

Activity: 8

Merit: 0

A lot of indicators are not very useful because of how volatile this market is.

MACD is quite solid because it's simple. I hear a lot of good about stochastic too.

tesla80

member

Activity: 448

Merit: 89

Full Stack Engineer

Hello,
I'm willing to learn TA, I know TA is not a total solution but I believe it helps understanding the situation.

What are the best matching TA Indicators for BTC or ETH?

A second questions : is there a place for easy backtesting for custom strategies?

Thanks everyone

Topic: Best Technical Analysis Indicator for Bitcoin or ETH (Read 131 times)