Topic: What technical indicators do you use and why (Read 556 times)
I use Fibonacci retracement and also RSI, Fibonacci retracement is not actually indicator but it is a tool in order for me to measure the pullbacks and for me to identify the new support and the resistance. There are 2 ways to plot the Fibonacci, first if you want to know the support where you will plot in swing low first then in swing high. The second plotting is by measuring the resistance where you will plot the swing high first then swing low. Right now the price of the bitcoin is in uptrend and plotting it to swing low to swing high can give us information where the current support is. There are a lot of tools that are useful, I using trading view as charting platform and their features are really good.
For medium and long term trades I can agree,,, and especially in times of sideways movement with low volatility periods. Problem with crypto anyway for me is the extreme swings that can happen in between that can eat up your stopd using any of those indicators, right?
Yeah, extreme swings happen and you don't want to be on its way when a swing happens. When doing short trades especially with margin trading, once I open a position, I keep an eye on the market until I have closed a position. If not, I at least makes sure there is a stop loss.The indicators just act as a guide to me on what kind of judgement I can make along with the help of past trading experience and I don't entirely depend on them 100%
For medium and long term trades I can agree,,, and especially in times of sideways movement with low volatility periods. Problem with crypto anyway for me is the extreme swings that can happen in between that can eat up your stopd using any of those indicators, right?
Yeah, extreme swings happen and you don't want to be on its way when a swing happens. When doing short trades especially with margin trading, once I open a position, I keep an eye on the market until I have closed a position. If not, I at least makes sure there is a stop loss.The indicators just act as a guide to me on what kind of judgement I can make along with the help of past trading experience and I don't entirely depend on them 100%
Technical indicators are very important to help predict coin price movements, so we can determine buying and selling prices.
And of all the existing technical indicators, everyone uses different technical indicators, according to their respective tastes.
I am used to only using MACD and RSI to help me analyze price movements in the market. Because the two technical indicators
are enough to help me predict the price in the market.
And of all the existing technical indicators, everyone uses different technical indicators, according to their respective tastes.
I am used to only using MACD and RSI to help me analyze price movements in the market. Because the two technical indicators
are enough to help me predict the price in the market.
Every trader has what works for him. What works for you might not be what works for me. Different trading strategies like scalping, day trading, swing trading and position trading might use different trading indicators, it all depends on what you are very comfortable with and it works for you.
I prefer Relative Strength Index (RSI) and Moving Average Convergence/Divergence indicator (MACD). Whereas Relative Strength Index (RSI) helps me determine the price momentum of an asset (overbought or oversold conditions). To easily recognize and confirm these price trends I use Moving Average Convergence/Divergence indicator (MACD).
I prefer Relative Strength Index (RSI) and Moving Average Convergence/Divergence indicator (MACD). Whereas Relative Strength Index (RSI) helps me determine the price momentum of an asset (overbought or oversold conditions). To easily recognize and confirm these price trends I use Moving Average Convergence/Divergence indicator (MACD).
Well, this is not to be redundant. But to add the number of votes for the best technical indicators you have to use for your trading.
Relative Strength Index -- For you to check the overbought and oversold. This is very important to consider when you are trading. Fibonacci retracements to make sure that you'll not stick with your countries trading decisions. These two are very important for your trading decisions, but yes, sometimes when you're there trading, you will actually forget to use these tools. But good luck on your journey!!
From all of the stated indicators on this post, one thing is to have. The Fibonacci Retracements are a must to consider for your technical indicator. RSI and recommended but I don't personally utilize it often. But sometimes it helps me to make my decisions. I know that it's important to determine bought and sold in market sentiments but I find it really hard to do my decision-making by knowing it. Relative Strength Index -- For you to check the overbought and oversold. This is very important to consider when you are trading. Fibonacci retracements to make sure that you'll not stick with your countries trading decisions. These two are very important for your trading decisions, but yes, sometimes when you're there trading, you will actually forget to use these tools. But good luck on your journey!!
Well, this is not to be redundant. But to add the number of votes for the best technical indicators you have to use for your trading.
Relative Strength Index -- For you to check the overbought and oversold. This is very important to consider when you are trading. Fibonacci retracements to make sure that you'll not stick with your countries trading decisions. These two are very important for your trading decisions, but yes, sometimes when you're there trading, you will actually forget to use these tools. But good luck on your journey!!
Relative Strength Index -- For you to check the overbought and oversold. This is very important to consider when you are trading. Fibonacci retracements to make sure that you'll not stick with your countries trading decisions. These two are very important for your trading decisions, but yes, sometimes when you're there trading, you will actually forget to use these tools. But good luck on your journey!!
I have the same indicators used by the other users who already posted but I've been using Fibonacci Retracement to easily spot the support and resistance of the market. Does anyone uses this as well?
It is not a good idea to use too many technical indicators because, by analysis, they will cause paralysis. Each trader will have a set of favorite indicators of their own, so there is no perfect combo.
For the sake of simplicity, it is a good idea for most people to use candlestick charts with indicators for RSI and MACD. The Portion of volume is best viewed separately from the price chart, as an overly makes the chart a bit more difficult to evaluate.
For the sake of simplicity, it is a good idea for most people to use candlestick charts with indicators for RSI and MACD. The Portion of volume is best viewed separately from the price chart, as an overly makes the chart a bit more difficult to evaluate.
I think in most cases that's true and you should use 2-3 indicators at most, most of the indicators are lagging indicators which makes them less than useless anyways and they only will distract you and make you doubt your trade decisions that you made looking at more proper indicators like RSI, I wouldn't suggest MACD though as it can be way too inaccurate at times and instead of that you can use WaveTrend which has a bit more accuracy since I tested them both myself alongside of each other.
It's because if you only have a free account on tradingview, you are only limited to 3 indicators on your chart. Mostly RSI is being used. I also use it to identify when to buy a token in the weekly chart and then swinging there whenever there is a chance of overbought and oversold. I hate MACD for that. I leave it to the pro but fibo is my next fav to check for support and resistance.
I even not use the MAs for this but the 200MA is good to have at least.
It is not a good idea to use too many technical indicators because, by analysis, they will cause paralysis. Each trader will have a set of favorite indicators of their own, so there is no perfect combo.
For the sake of simplicity, it is a good idea for most people to use candlestick charts with indicators for RSI and MACD. The Portion of volume is best viewed separately from the price chart, as an overly makes the chart a bit more difficult to evaluate.
For the sake of simplicity, it is a good idea for most people to use candlestick charts with indicators for RSI and MACD. The Portion of volume is best viewed separately from the price chart, as an overly makes the chart a bit more difficult to evaluate.
I think in most cases that's true and you should use 2-3 indicators at most, most of the indicators are lagging indicators which makes them less than useless anyways and they only will distract you and make you doubt your trade decisions that you made looking at more proper indicators like RSI, I wouldn't suggest MACD though as it can be way too inaccurate at times and instead of that you can use WaveTrend which has a bit more accuracy since I tested them both myself alongside of each other.
I especially like Bollinger Band and KDJ at Binance exchange. I like thrills and profits so I usually use the x50 or x100 lever in one order.
What's special here is that it is very effective in small timeframes like the M5 or M15. When the Doji shows the signal at the support zone, your probability of winning is up to 80%. I have researched very carefully in my last 10 trades. I encourage traders interested in surfing to try using these signals.
What's special here is that it is very effective in small timeframes like the M5 or M15. When the Doji shows the signal at the support zone, your probability of winning is up to 80%. I have researched very carefully in my last 10 trades. I encourage traders interested in surfing to try using these signals.
For me, I rely solely on "Leading Indicators" like Support & Resistance, Pivot Points and candle patterns and formations.
Support and resistance was basic technical analisys that must be mastered by all trader , as basic price movement knowledge we will understand in which level we put our order and also price direction. all mentioned above were good combination in technical analisys and i am sure you were good trader based on strategy you used. maybe combine with elliot wave theory and dow theory could make it as powerfull and profitable strategy.
Like other technical indicators, RSI has user defined variable inputs, including determining what levels will represent overbought and oversold conditions, therefore, can be used to confirm any signals that the moving average produces. Opposing signals may indicates that the signal is less reliable and should be prevented from trading.
RSI and moving average are my preferred indicators, MA is just for trend direction while RSI is used to determine overbought and oversold market sentiments,
In the right sense, there is nothing like overbought or oversold market condition. I have seen situations where market trends look like they will reverse but then continue in the same direction. BTW, what determines overbought and oversold? It's all a fantasy of trader's imagination.I prefers naked chart analysis with the two indicators this is used to avoid unnecessary distractions which is common to using many lagging indicators.
RSI and MA are major lagging indicators. They're culprits in this regard of distraction.Bollinger bands help me understand the right situation about the markets as well as indicate clearly about the trend and that helps a lot in deciding whether to long or short BTC against USDT.
Please, what setting do you use for your BB?For me, I rely solely on "Leading Indicators" like Support & Resistance, Pivot Points and candle patterns and formations.
For a fact, technical indicators plays a key role to traders who have found a way to merge as many as they can to determine the movements of trends in chart pattern. There are a lot of them out there but your ability to engulf them into your strategy gives you an advantage in the market. I have formed a bond personally with the RSI technical indicators as it bettered my chances in the market.
(RSI) Relative Strength Index
I find this indicator very useful in dictating the over bought and over sold zones as it displays strength and exhaustion in the market. It is always helpful especially when your able to relate it with previous resistance/support zones where price has been found to play around a lot. Though, you still have to wait for certain confirmation before placing a buy or sell.
(RSI) Relative Strength Index
I find this indicator very useful in dictating the over bought and over sold zones as it displays strength and exhaustion in the market. It is always helpful especially when your able to relate it with previous resistance/support zones where price has been found to play around a lot. Though, you still have to wait for certain confirmation before placing a buy or sell.
It is not a good idea to use too many technical indicators because, by analysis, they will cause paralysis. Each trader will have a set of favorite indicators of their own, so there is no perfect combo.
For the sake of simplicity, it is a good idea for most people to use candlestick charts with indicators for RSI and MACD. The Portion of volume is best viewed separately from the price chart, as an overly makes the chart a bit more difficult to evaluate.
Based on the same set of indicators, there are infinite ways of trading, so practice until you can spot the strengths and weakness of your current techniques. Knowing when your trading signals will work and under what conditions they will fail allows you to properly size your trades and , if necessary, take corrective action.
For the sake of simplicity, it is a good idea for most people to use candlestick charts with indicators for RSI and MACD. The Portion of volume is best viewed separately from the price chart, as an overly makes the chart a bit more difficult to evaluate.
Based on the same set of indicators, there are infinite ways of trading, so practice until you can spot the strengths and weakness of your current techniques. Knowing when your trading signals will work and under what conditions they will fail allows you to properly size your trades and , if necessary, take corrective action.
Trend analysis as well as price action. I love them because you dont need to use any indicator or system to make a prediction. And as far as I know, indicator pull out signs slower than price action because it needs to collect information from candle and candle. If I had more time, I would learn Elliott Wave cause of the high accurate percentage.
I love these techniques because it requires your own brainstorming and you dont need to depend on anyone or anything. Analysis belongs to yourself. 1000 people use RSI will have the same result while 1000 people use price action can create 1000 out come. Thats why you need to be very consistency and independent. Trust yourself will give you the best result. Although I have not earned any big win but I do have a hope that one day, I will master trading and control every aspects of my own life
I love these techniques because it requires your own brainstorming and you dont need to depend on anyone or anything. Analysis belongs to yourself. 1000 people use RSI will have the same result while 1000 people use price action can create 1000 out come. Thats why you need to be very consistency and independent. Trust yourself will give you the best result. Although I have not earned any big win but I do have a hope that one day, I will master trading and control every aspects of my own life
I think the more technical indicators we use, the better the analysis results we will produce. The favorite technical indicators
that I usually use include MACD, RSI, and Bollinger Band. With these three indicators I can predict the crypto market. And also
sometimes I do fundamental analysis to make sure the analysis I produce is more accurate. If we trade without doing technical
analysis, possibility we will suffer a loss. Because trading without having expertise in market analysis is like playing gambling.
that I usually use include MACD, RSI, and Bollinger Band. With these three indicators I can predict the crypto market. And also
sometimes I do fundamental analysis to make sure the analysis I produce is more accurate. If we trade without doing technical
analysis, possibility we will suffer a loss. Because trading without having expertise in market analysis is like playing gambling.
- Support and resistance
- RSI
- MACD
Every time I do trading I often used the three because it appears to be more clear and precise, I could easily understand the movement and that matters to me in choosing which indicators I should use. I have work and needs to be in a hurry oftentimes but with these indicators, I can understand it faster even at a single glance, or probably I just get used to it since I have been using it for quite some time now.
In terms of tools, I use
1. Fibonacci Retracement
2. Gann box
3. Horizontal line and trend line
4. Risk and Rewards ratio
Try out the ichimoku cloud system, its one of the best thing you can ever get to predict the direction in both short and long term, if you can master it well!
You Can get many tutorials on it on youtube.
Never heard about this before, but is it really good? Is it an software or what. I don't know this but before I am using MACD, but that was before because I recently stop trading due to some personal problems. But now I am getting back to trading, reading some books and monitoring some charts, but I am not using any tools as of the moment. You Can get many tutorials on it on youtube.
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