Topic: The best technical indicators to use with crypto trading on Tradingview/Binance (Read 141 times)

lol wut ? are you drunk buddy ?
obviously not.
Technical Analysis was created as a tool for trader to make their own strategy and setup,if you are investing your money into it without doing a proper research aka Technical Analysis it 's like you are gambling your money into Gamble and praying for it to grow.Technical Analysis was not a machine for you to print out the money buddy.
TA might be does not work on cryptocurrency completely,but it does not means it does not have any use at all or bring losses to every traders.
with it we can minimize our risk by looking at the market and create our own strategy,
if you are asking,which one is the better one between guessing or analyzing ? i will say,of course analyzing way more better other than guessing.

All technical indicators bring losses to traders because they are designed to bring losses to traders, ask any trader about it.

Thanks for the information , I trade long and short term only I have no definition for mid term in my book as usually mid term end up being long or short in most cases .

For short term those 2 tools you mention is really good  ( I always take a wide look on the 4h chart before use them tho ) .

For long term 100% agree just buy and hodl ( but no matter how the project is strong , you should wait to buy the dip )

Tradingview is a widely used tool for crypto traders, here are my suggestions on the technical indicators that work on crypto. As a general rule always plan your trades using the long position tool in the 7th icon on the left to limit loss and maximize gains.

For short-term trades I suggest using a combination of Bollinger bands and Stochastic RSI, buy when the price hits the bottom Bollinger band and is at 20 or below in the Stochastic RSI(this is a general rule and should work in most cases, if the market is in a downtrend then this may not work). The price will likely rebound because the asset is oversold/undervalued, these two tools are also on Binance. New traders should use the default settings but you can adjust it according to your liking.

For mid-term trades, I usually use the Horizontal Ray tool to plot support and resistance. Or use trend lines in an uptrend or downtrend, I also occasionally use Fibonacci retracement(available in 3rd icon on left) but I realize that not all traders are a fan of this. Fibonacci retracement shows price levels where the price of an asset may retrace-as the name suggests- and support levels are where prices usually jump up on and resistance is the opposite(although they are frequently broken).

For long-term trades I actually don't use any technical indicators apart from maybe Horizontal Ray to identify best entry level, I try to find undervalued assets and just HODL them.