What are the most effective tradingview chart settings for identifying support and resistance levels in Ethereum trading?

4 answers

• Nov 25, 2021 · 3 years ago
  As an expert in the field, I can tell you that the most effective chart settings for identifying support and resistance levels in Ethereum trading on TradingView can vary depending on your individual trading style and preferences. However, one approach that many traders find helpful is to use a combination of trend lines, moving averages, and volume indicators. By drawing trend lines on your chart, you can identify areas of support and resistance based on the direction of the trend. Moving averages can help confirm these levels and provide additional insights into the strength of the trend. Volume indicators can also be useful in identifying areas of high buying or selling pressure, which can indicate potential support or resistance levels. Remember, it's important to experiment with different settings and find what works best for you and your trading strategy.
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• Nov 25, 2021 · 3 years ago
  When it comes to identifying support and resistance levels in Ethereum trading using TradingView, there are a few chart settings that can be effective. One popular approach is to use the RSI (Relative Strength Index) indicator, which can help you identify overbought and oversold levels. Another useful tool is the MACD (Moving Average Convergence Divergence) indicator, which can help you identify potential trend reversals. Additionally, you can use the Volume Profile indicator to identify areas of high trading activity, which can indicate potential support or resistance levels. Remember, it's important to combine these chart settings with other technical analysis tools and indicators to make well-informed trading decisions.
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• Nov 25, 2021 · 3 years ago
  As a trader, I've found that the most effective chart settings for identifying support and resistance levels in Ethereum trading on TradingView can vary depending on the market conditions and your trading strategy. However, some commonly used settings include the use of trend lines, moving averages, and volume indicators. Trend lines can help you identify areas of support and resistance based on the direction of the trend. Moving averages can provide additional confirmation of these levels and help you gauge the strength of the trend. Volume indicators can also be useful in identifying areas of high trading activity, which can indicate potential support or resistance levels. Remember, it's important to adapt your chart settings to the specific market conditions and always consider multiple indicators and analysis techniques.
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• Nov 25, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recommends using a combination of chart settings in TradingView to identify support and resistance levels in Ethereum trading. One effective approach is to use the Bollinger Bands indicator, which can help you identify volatility and potential reversal points. Another useful tool is the RSI (Relative Strength Index) indicator, which can help you identify overbought and oversold levels. Additionally, you can use the Volume Profile indicator to identify areas of high trading activity, which can indicate potential support or resistance levels. Remember, it's important to combine these chart settings with other technical analysis tools and indicators to make well-informed trading decisions.
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