What are the recommended RSI settings for a 5-minute chart in the cryptocurrency market?

3 answers

• Nov 24, 2021 · 3 years ago
  The recommended RSI settings for a 5-minute chart in the cryptocurrency market are typically 14 periods. This means that the RSI will calculate the average gain and loss over the last 14 5-minute periods. This setting is commonly used as it provides a good balance between responsiveness and accuracy. However, it's important to note that different traders may have their own preferences and may adjust the settings based on their trading strategies and risk tolerance.
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• Nov 24, 2021 · 3 years ago
  When it comes to RSI settings for a 5-minute chart in the cryptocurrency market, there is no one-size-fits-all answer. It depends on your trading style and the specific cryptocurrency you are analyzing. Some traders may prefer a shorter RSI period, such as 9 or 10, for more frequent signals, while others may opt for a longer period, such as 20 or 25, for smoother and more reliable signals. It's recommended to experiment with different settings and see which one works best for your trading strategy.
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• Nov 24, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, suggests using a 14-period RSI setting for a 5-minute chart in the cryptocurrency market. This is a commonly used setting that provides a good balance between responsiveness and accuracy. However, it's important to note that the optimal RSI settings may vary depending on the specific cryptocurrency you are trading and your trading strategy. It's always a good idea to backtest different settings and analyze the results before making any trading decisions.
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