What indicators do you add in tradingview and how is it used?

bittraffic

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Quote from: atjiat on October 15, 2019, 02:35:45 PM

Quote from: ethereumhunter on October 15, 2019, 12:23:06 AM

I don't too often to use tradingview because I still prefer to use the chart on the exchanges to determine the right time to buy and sell. But if I use tradingview, I use MACD, RSI, and Bollinger Bands. Sometimes I use Moving Average, but that is not too often. The time frame I use is 1day, 15 minutes if I see the movement of the coin is good, and I have a chance to buy low and sell high. But if it's not, I will use 30-40 minutes to look at the opportunity, but that will depend on the market. But mostly, I only use Bollinger Bands, and I think that is enough for me to decide what I will do related to the market.

Actually, I did not pay attention to benchmarks for controlling the cryptocurrency price chart before, because I practically did not engage in trade, but recently I am starting to study this activity and so far have only used indicators for the period of 1 hour. But since I understand all this, the landmark settings should also depend on the chart of coins, because for each coin a trader should have an individual approach.

I'm not that actively trading cryptocurrency either, all I do is buy check the RSI which is the only indicator I knew and then trade from there. Mostly of what I did is waiting and then sell when I see the opportunity. This day trading is becoming more of gamble still eve when you started learning to read indicators. Look what happen today which I haven't seen it coming, the price drops and I'm left adjusting. If I had set up some stoploss, I would have lost my coins already.

atjiat

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Quote from: ethereumhunter on October 15, 2019, 12:23:06 AM

I don't too often to use tradingview because I still prefer to use the chart on the exchanges to determine the right time to buy and sell. But if I use tradingview, I use MACD, RSI, and Bollinger Bands. Sometimes I use Moving Average, but that is not too often. The time frame I use is 1day, 15 minutes if I see the movement of the coin is good, and I have a chance to buy low and sell high. But if it's not, I will use 30-40 minutes to look at the opportunity, but that will depend on the market. But mostly, I only use Bollinger Bands, and I think that is enough for me to decide what I will do related to the market.

Actually, I did not pay attention to benchmarks for controlling the cryptocurrency price chart before, because I practically did not engage in trade, but recently I am starting to study this activity and so far have only used indicators for the period of 1 hour. But since I understand all this, the landmark settings should also depend on the chart of coins, because for each coin a trader should have an individual approach.

ethereumhunter

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I don't too often to use tradingview because I still prefer to use the chart on the exchanges to determine the right time to buy and sell. But if I use tradingview, I use MACD, RSI, and Bollinger Bands. Sometimes I use Moving Average, but that is not too often. The time frame I use is 1day, 15 minutes if I see the movement of the coin is good, and I have a chance to buy low and sell high. But if it's not, I will use 30-40 minutes to look at the opportunity, but that will depend on the market. But mostly, I only use Bollinger Bands, and I think that is enough for me to decide what I will do related to the market.

figmentofmyass

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Quote from: bittraffic on October 14, 2019, 04:35:26 PM

Quote from: figmentofmyass on October 13, 2019, 06:27:40 PM

here's a decent tutorial on how to use RSI: https://www.babypips.com/learn/forex/relative-strength-index

it works the same on all time frames but like most indicators, the signal-to-noise ratio is really bad at the 5-min, 15-min etc. i mainly use it to determine trend strength on the daily/weekly charts. it can also be useful for identifying bullish and bearish divergences at market tops and bottoms.

Does it mean its just best to trade on daily or weekly chart than doing it in hourly or 4 hour time frame?

the higher the time frame, the more reliable the signals. that's the rule of thumb.

i still look at the 1h-4h charts, but the higher time frames dominate. for instance, if the daily is deeply oversold indicating a strong downtrend, i'm not gonna trust RSI bottom signals on the 1h chart.

Quote from: bittraffic on October 14, 2019, 04:35:26 PM

I see the link going mainly to Forex trading lessons, I'm not sure how to look at it when prices in Major currencies are stable than trading on BTC/USDT which prices can drop hundreds of USD in hours.

RSI is just an oscillator. it works relative to the volatility in the lookback period regardless of which asset you're charting. it works equally well on any asset.

forex vs crypto doesn't matter. the fundamentals may be very different, but the TA is the same.

1Referee

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Quote from: Google+ on October 14, 2019, 04:55:04 AM

current trading analysis is not very useful anymore because of unstable bitcoin price movements and the amount of bad news that makes traders panic making such methods will never be able to predict bitcoin price movements again.

TA has always been useful in Bitcoin, and more so in the more recent years with institutional presence increasing.

The bad news you are talking about isn't really doing anything to the price, it just gives large parties a reason to drive the price down faster, because prior to the news the market was in most cases already trending down. In that regard, they are doing people a favor by speeding up the bottoming process. Tongue

I truly find news the most unattractive/bogus "indicator". The handful of times news does actually make the price move spontaneously isn't a problem either, traders reassess the market structure and move on from there.

bittraffic

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Quote from: figmentofmyass on October 13, 2019, 06:27:40 PM

Quote from: bittraffic on October 13, 2019, 10:21:19 AM

I did read some trading tips from youtube traders, fascinating to see they know how the market will act when oversold and overbought using the RSI but this is just a simple indicator which I'm not even aware if this works to all time frame. i'd like to see some specific sets.

here's a decent tutorial on how to use RSI: https://www.babypips.com/learn/forex/relative-strength-index

it works the same on all time frames but like most indicators, the signal-to-noise ratio is really bad at the 5-min, 15-min etc. i mainly use it to determine trend strength on the daily/weekly charts. it can also be useful for identifying bullish and bearish divergences at market tops and bottoms.

Does it mean its just best to trade on daily or weekly chart than doing it in hourly or 4 hour time frame?

I see the link going mainly to Forex trading lessons, I'm not sure how to look at it when prices in Major currencies are stable than trading on BTC/USDT which prices can drop hundreds of USD in hours.

BitHodler

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Quote from: leowonderful on October 13, 2019, 12:01:52 PM

For example, the 200MA is currently acting as resistance that we haven't been able to close above on the daily yet, though we've had a few quick wicks above it.

The wicks above the 200MA have indicated extremely strong bearish momentum with how swiftly they were sold down, and I expect it to happen until the price resets lower to where we have to shift to the weekly chart.

Short term speaking the price is standing on its last legs so it's a matter of weeks or maybe days before we see continuation to the downside. Moon boys will be up for an unpleasant surprise.

Did you see the insanely low volumes? This isn't just calmth before the storm, but calmth before the hurricane. If we close this month in the red, it means 4 consecutive bearish closes.... last year the 4th red close resulted in the dump from $6.2k to $3.5k.

glendall

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if you already know about the use of the RSI it's good, at least you can know about market conditions that are overbought or oversold,
and then you only need to understand about support and resistance, because both of these are the essence of trading, because trading is not buying cheap, selling expensive, but buying at the point of support and selling it at the point of resistance,
if you already know you can at least do simple trading.
and indicators are only for help.

Google+

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currently no one can guarantee any indicator method, current trading analysis is not very useful anymore because of unstable bitcoin price movements and the amount of bad news that makes traders panic making such methods will never be able to predict bitcoin price movements again.

Shasha80

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I use only two indicators for trading. The first MACD indicator to show trend direction and market momentum.
The second RSI indicator is used to look for buy and sell signals. Confirm sell signal that is when RSI drops from
overbought, then buy confirmation is when RSI up from the oversold area. That is a brief explanation of the indicators
that I added in trading view, to help analyze playing cryptocurrecy trading.

adroitful_one

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I once used bolling bands to see the buying and selling cycle, but I don't think this indicator can be maximal. we still have to use manual indicators by looking at price movements directly in the market before determining the next step. indicators are only supporting

Don't rely on just the Bollinger Bands themselves. Verify them with the RSI as well. If you do, you should more often than not come out with the result you expected. Personally, I don't like to spend all day trading, so I usually stick to the 24 hour charts. So, I'm not sure how well it would work on a 5 minute chart or lower. Not only does the daily chart require less work, but you also have the ability to make some bigger profit margins with it. I'll get on, look at the charts, put in my orders, and then get off for the day. It seems to do pretty well.

Itsmylife

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I'm using KDJ and MACD in the 2h chart. Whenever the indicators begin to intersect, I will execute the order.

figmentofmyass

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Quote from: bittraffic on October 13, 2019, 10:21:19 AM

I did read some trading tips from youtube traders, fascinating to see they know how the market will act when oversold and overbought using the RSI but this is just a simple indicator which I'm not even aware if this works to all time frame. i'd like to see some specific sets.

here's a decent tutorial on how to use RSI: https://www.babypips.com/learn/forex/relative-strength-index

it works the same on all time frames but like most indicators, the signal-to-noise ratio is really bad at the 5-min, 15-min etc. i mainly use it to determine trend strength on the daily/weekly charts. it can also be useful for identifying bullish and bearish divergences at market tops and bottoms.

nelson4lov

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Quote from: bittraffic on October 13, 2019, 10:21:19 AM

I did read some trading tips from youtube traders, fascinating to see they know how the market will act when oversold and overbought using the RSI but this is just a simple indicator which I'm not even aware if this works to all time frame. i'd like to see some specific sets.

Is anyone care to share about the settings of their moving averages and how this will be use as indicator?

I'm a basics man. I like keeping my things simple. I just use the classic support and resistance for drawing areas of interest. Afterwards I use a combo of 21MA, 50 MA and RSI as confirmation. For RSI, I don't blindly buy when it's oversold and vice versa but that doesn't mean zi don't buy at those areas. I only do that when it's close to an area of value.. Say Support or resistance line and get confirmation using the moving averages. No one indicatois 100% efficient but they're powerful when used with other tools. I like fibonacci retracement too.

illyiller

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Quote from: bittraffic on October 13, 2019, 10:21:19 AM

I did read some trading tips from youtube traders, fascinating to see they know how the market will act when oversold and overbought using the RSI but this is just a simple indicator which I'm not even aware if this works to all time frame. i'd like to see some specific sets.

Is anyone care to share about the settings of their moving averages and how this will be use as indicator?

It depends on the strategy. Day traders will often use a 9/21 EMA setup to enter and exit positions. That's not my style though. I find moving averages too laggy to find big enough risk/reward trades that way.

I mostly use them as S/R. The 200 MA on the daily or the 20 MA on the weekly are often reversal areas, or at least bounce/pullback areas.

exstasie

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Quote from: bittraffic on October 13, 2019, 10:21:19 AM

I did read some trading tips from youtube traders, fascinating to see they know how the market will act when oversold and overbought using the RSI but this is just a simple indicator which I'm not even aware if this works to all time frame. i'd like to see some specific sets.

Is anyone care to share about the settings of their moving averages and how this will be use as indicator?

It's good to keep it simple. Remember, indicators are mostly just derivatives of price, so they rarely tell you anything the price chart doesn't already.

You seen those guys with like 10 indicators on the screen, so many that you can't even see the chart? Don't do that. You don't need more than one momentum indicator like RSI. I prefer Chande Momentum.

Volume, momentum, Bollinger bands, and moving averages. Those are the bread and butter for indicators. I mostly focus on candlestick analysis though because the price action itself is the most telling of all.

MA crosses are a good way to use moving averages. See golden crosses and death crosses. The 20, 50, and 200 period averages are also often looked at for support and resistance.

ChrisPop

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Quote from: bittraffic on October 13, 2019, 10:21:19 AM

I did read some trading tips from youtube traders, fascinating to see they know how the market will act when oversold and overbought using the RSI but this is just a simple indicator which I'm not even aware if this works to all time frame. i'd like to see some specific sets.

Is anyone care to share about the settings of their moving averages and how this will be use as indicator?

Almost all indicators have been created to give you an edge over the market. If you combine them and you can figure out a way to use them in confluence you will be able to raise your edge. Remember that you don't need a lot of shiny indicators to make money from trading. Historically traders have made huge profits just by trading horizontals or trendlines or just a simple EMA. At the end all you need to have in order to become a profitable and consistent trader is a bit of technical analysis ( your edge), risk management and the ability to control your emotions. Don't disregard any of these 3 factors because they are all equally important. See you in the markets!

adroitful_one

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I like to use MACD, Bollinger Bands, and RSI. I use the Bollinger Bands to show me when I should buy or sell. Usually, if the candles are below the bottom band, it's a good time to buy as the price will be going up. If the candles are above the top band, it's time to sell because the price will be going down a little bit. Then, I use the others to verify what I'm seeing with the Bollinger Bands. Use the RSI line to see if the coin is overbought or oversold.

Ucy

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Quote from: bittraffic on October 13, 2019, 10:21:19 AM

I did read some trading tips from youtube traders, fascinating to see they know how the market will act when oversold and overbought using the RSI but this is just a simple indicator which I'm not even aware if this works to all time frame. i'd like to see some specific sets.

Is anyone care to share about the settings of their moving averages and how this will be use as indicator?

Complex indicators don't work well for me. I just keep it simple. The simple ones tend to give me better results.
Check this out: https://m.youtube.com/playlist?list=PLovfz5BWiPa34GzoacromtRO-hq1XQSnD
I came across it some months ago. I haven't really verified what the gentleman teaches but they all look interesting.
I try to keep my trades as simple as possible.

leowonderful

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I usually use the 21, 50, 100, and 200 simple moving averages for charting on the daily. They're the most common moving averages people watch, and thus the price often interacts with these moving averages when they act as support or resistance. For example, the 200MA is currently acting as resistance that we haven't been able to close above on the daily yet, though we've had a few quick wicks above it.

RSI does work to an extent, but things can remain oversold or overbought for extended periods of time in strong trends. We were overbought most of the time on the daily from April to June, but from September to October, we were pretty strongly oversold. I wouldn't suggest relying too much on RSI or any one indicator for charting, because nothing's right 100% of the time.

Topic: What indicators do you add in tradingview and how is it used? (Read 258 times)