Topic: What're the best tools for technical anaylsis? MACD + indicators vs Candles? (Read 137 times)
October 11, 2018, 04:20:14 PM
The tools that I like to use when I do trading are are elder fisher transform emma and MACD I always use them in coinigy is a platform created for the cryptocurrency trade also exists tradingview they platform is easy to use too but sincerely I prefer more coinigy !! I hope you find it useful hehe
October 11, 2018, 01:40:24 PM
Thanks,
Good to know. I'll continue reading about candle formations.
Good to know. I'll continue reading about candle formations.
October 11, 2018, 01:31:37 PM
No man, they are not exclusive. The more tools you can use the better. Unless all those tools overwhelm your judgment. If you can have a clear mind while using these tools, go for it. But if you are just starting, maybe you can use a more limited set of tools. The first 3 are a must. From the second set, use for example two of your chose. I would use Bollinger Bands together with some oscillator, for example, Stochastics is a good choice.
October 11, 2018, 12:50:27 PM
Hey,
I'm just starting to learn the fundamentals and about all the analytical tools available.
Such as: MACD, Momentum, OBV, RSI
I recently stumbled onto a page on Investopedia which was highly critical of the MACD saying it was too slow and inaccurate. It instead proposed a different set of skills such as; analysing candles to be better.
It promoted these 3 things
1. The trendline
2. The pivot point
3. The candlestick
and said these 5 things won't be needed:
1. Moving averages
2. MACD
3. Stochastics
4. Parabolic SARs
5. Bollinger Bands
----------------
This has confused me. Now I don't know what to think..
What do you think about the information above? Are they mutually exclusive or can they be used in conjunction?
Also, which do you prefer? I don't have enough experience or knowledge to weigh in on this.
Here's the article if you're interested:
https://www.investopedia.com/articles/trading/06/againstmacd.asp
P.S - I looked back on a daily chart to before the 2017 bull-run and couldn't find a single hammer candle. (do they exist in crypto??)
Cheers,
G
I'm just starting to learn the fundamentals and about all the analytical tools available.
Such as: MACD, Momentum, OBV, RSI
I recently stumbled onto a page on Investopedia which was highly critical of the MACD saying it was too slow and inaccurate. It instead proposed a different set of skills such as; analysing candles to be better.
It promoted these 3 things
1. The trendline
2. The pivot point
3. The candlestick
and said these 5 things won't be needed:
1. Moving averages
2. MACD
3. Stochastics
4. Parabolic SARs
5. Bollinger Bands
----------------
This has confused me. Now I don't know what to think..
What do you think about the information above? Are they mutually exclusive or can they be used in conjunction?
Also, which do you prefer? I don't have enough experience or knowledge to weigh in on this.
Here's the article if you're interested:
https://www.investopedia.com/articles/trading/06/againstmacd.asp
P.S - I looked back on a daily chart to before the 2017 bull-run and couldn't find a single hammer candle. (do they exist in crypto??)
Cheers,
G
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