What indicators do you use for trading?


#1

Hello all,

I would like to get your feedback about trading indicators. In several Exchange sites, it is possible to draw some indicators in the different charts and to make analysis on top of it. Some examples of indicators are: SMA 5, SMA13, EMA 5 and many others. I tried to learn a bit more those indicators but it is not that simple. So, I was wondering what indicators are the most popular in the community so I can at least learn them first. Could you share this with me? Also, would someone have a nice page explaining those indicators in the context of cryptocurrencies trading? Thank you in adavane.


#2

Hi,
I’ve found that its best to do technical analysis from one central platform. personally i use a platform called “Coinigy”
https://www.coinigy.com/?r=db436629. From there you can access and analyse all the crypto markets from different exchanges and with excellent tools and indicators. i mainly swing trade myself instead of day trading but in regards to indicators i generally use these,

1- Volume
2- EMA (Moving average exponential)
3- MacD
4- RSI (relative strength index)
5- CCI (commodity channel index)

I find them very good for a general reading of where the market is at. but its also important not to flood the graphs with too many indicators as it can become confusing at times reading the graphs. hope this helps :+1:


#3

Thanks for your answer. Will check Coinigy later on. :+1:


#4

I use the free tradingview interface. Works well


#5

I use tradingview with MA cross, RSI and MACD. Keeping it basic.
Coinigy has videos on youtube on how to use them.
Node investor has a great beginners guide on trading. Skip the introduction to crypto. That information is to be found fore free.


#6

Additionally I would like to add the following:

I have to say that Bollinger Bands width helps me know if there is a breakout or consolidation of the market.

Momentum also helps know how strong a breakout is.


#7

The 90day x beginners series on Bitcoin Pub has some great videos on this.


#8

I use the coinigy charting package with the GDAX exchange linked so I can make trades directly from my charts.
As for indicators I use, I look at price action with candlsticks and the the 21 50 and 100day sma to see trend (100d) and use 21 and 50 to show support and resitance.
I look at MACD for crossovers and divergence and RSI for overbought/oversold signals and divergence.
I look a bolinger bands to look for overexurbernce in stocks and also look for bolinger pinch paterns when a stocks price range tightens and a break out is possible.
but before I look at any indicator I look for where the price is, (high/low) i don’t buy at highs I buy on price lows and I look for price reversal patterns on candles stick charts…
I try to use indicators after I think the price chart looks good and I find they have the most relevent infomation at major support or resistance levels…


#9

Man some of the indicators depends on the liquidity and volume of the market.
I have in my set up two that allows me to see goods entry and exit points, they are Bollinger Band and the Retrecement of Finonacci.

I add to them, suports and resistance lines with channels (up or down).

Believe in me there is no erros to make profits, at least I am speaking for my portfolio.

Cheers.


#10

I use Tom Demark Sequential Countdown. Available on Trading View. I started developing my own strategies around this indicator.


#11

I come from a spreadbetting background and my advice would be to keep it as simple as possible. i often see these trading tutorials where they are going crazy using every possible indicator available but the problem is that you end up creating a layer of complexity and it affects the most important factor in trading - your psychology and decisiveness!

I use 8 day EMA, 21 day EMA and 55 day EMA and 200 day SMA as general guidance for market direction
I also use Average directional index (ADX) and Relative strength index (RSI) as a general guidance for momentum in the market.

The great thing about this set up is that it can be applied to any trading commodity, be it cryptos, stocks, indices etc.


#12

Personally sometimes I use this tool https://coinalyze.net/coin/bitcoin/ . It allow me to see the trend on various timeframes and also momentum