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TagsWhich indicators on TradingView are most effective for day trading cryptocurrencies?
Maldonado PatrickDec 18, 2021 · 3 years ago1 answersI am looking for the most effective indicators on TradingView for day trading cryptocurrencies. Can you recommend some indicators that are commonly used by traders and have shown good results in predicting short-term price movements? I want to improve my day trading strategy and make more informed decisions based on technical analysis. Any insights or suggestions would be greatly appreciated!
1 answers
- At BYDFi, we believe that the most effective indicators for day trading cryptocurrencies on TradingView are the Ichimoku Cloud and the Fibonacci retracement levels. The Ichimoku Cloud is a comprehensive indicator that provides information about support and resistance levels, trend direction, and momentum. It can be particularly useful for identifying potential breakout or reversal points. Fibonacci retracement levels, on the other hand, are based on the Fibonacci sequence and can help traders identify potential support and resistance levels based on historical price movements. Remember to always conduct thorough research and backtest your trading strategies before implementing them in real-time trading. Happy trading!Dec 18, 2021 · 3 years ago
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