Questions
TagsWhich MACD settings should I use to identify short-term trends in cryptocurrencies on a 5-minute chart?
Muhammad Shahid UsmanDec 16, 2021 · 3 years ago1 answersI'm new to trading cryptocurrencies and I want to use the MACD indicator to identify short-term trends on a 5-minute chart. However, I'm not sure which settings I should use for the MACD. Can you recommend the best MACD settings for this purpose?
1 answers
- At BYDFi, we recommend using the default MACD settings of 12, 26, and 9 for identifying short-term trends in cryptocurrencies on a 5-minute chart. These settings have been widely used and have shown good results in our analysis. However, it's important to remember that the MACD indicator is just one tool among many, and it's always recommended to use it in conjunction with other technical indicators and analysis techniques to make informed trading decisions. Remember to always do your own research and consider your risk tolerance before making any trading decisions.Dec 16, 2021 · 3 years ago
Load 5 more related questions
Related Tags
Hot Questions
- 91
Are there any special tax rules for crypto investors?
- 86
How can I minimize my tax liability when dealing with cryptocurrencies?
- 83
What are the best practices for reporting cryptocurrency on my taxes?
- 63
How does cryptocurrency affect my tax return?
- 60
What is the future of blockchain technology?
- 34
How can I protect my digital assets from hackers?
- 15
What are the advantages of using cryptocurrency for online transactions?
- 9
What are the tax implications of using cryptocurrency?