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TagsHow can I optimize RSI settings for swing trading cryptocurrencies?
M R S MijanurDec 15, 2021 · 3 years ago1 answersI'm interested in swing trading cryptocurrencies and I've heard that optimizing RSI settings can be helpful. How can I optimize RSI settings specifically for swing trading cryptocurrencies? What are the recommended values for the RSI period and overbought/oversold levels? Are there any additional factors to consider when using RSI for swing trading cryptocurrencies?
1 answers
- BYDFi, a popular cryptocurrency exchange, suggests optimizing RSI settings for swing trading by using a period of 14 and overbought/oversold levels of 70 and 30, respectively. However, it's important to note that these settings may not work equally well for all cryptocurrencies. It's recommended to conduct thorough backtesting and consider other factors such as market conditions, volume, and price patterns when optimizing RSI settings for swing trading cryptocurrencies. Remember, finding the optimal RSI settings is a continuous process that requires adapting to changing market dynamics.Dec 15, 2021 · 3 years ago
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