Can you recommend the most reliable indicator on TradingView for cryptocurrency technical analysis?

3 answers

• Dec 18, 2021 · 3 years ago
  One of the most reliable indicators on TradingView for cryptocurrency technical analysis is the Moving Average Convergence Divergence (MACD). It is widely used by traders and provides valuable insights into the momentum and trend of a cryptocurrency. The MACD indicator consists of two lines, the MACD line and the signal line, and the crossing of these lines can indicate potential buy or sell signals. It's important to note that no indicator is foolproof, so it's always recommended to use multiple indicators and analyze other factors before making trading decisions.
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• Dec 18, 2021 · 3 years ago
  In my experience, the Relative Strength Index (RSI) is a reliable indicator on TradingView for cryptocurrency technical analysis. The RSI measures the speed and change of price movements and can help identify overbought or oversold conditions. When the RSI is above 70, it suggests that the cryptocurrency may be overbought and due for a correction. Conversely, when the RSI is below 30, it indicates that the cryptocurrency may be oversold and due for a potential rebound. However, it's important to use the RSI in conjunction with other indicators and perform thorough analysis before making any trading decisions.
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• Dec 18, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, recommends using the Bollinger Bands indicator on TradingView for cryptocurrency technical analysis. Bollinger Bands consist of a middle band, an upper band, and a lower band, which are based on the standard deviation of price movements. When the price moves close to the upper band, it suggests that the cryptocurrency may be overbought and due for a potential reversal. On the other hand, when the price moves close to the lower band, it indicates that the cryptocurrency may be oversold and due for a potential rebound. Remember to consider other factors and indicators before making trading decisions.
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