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Title: What're the best tools for technical anaylsis? MACD + indicators vs Candles? Post by: thegoatiest on October 11, 2018, 05:50:27 PM Hey,
I'm just starting to learn the fundamentals and about all the analytical tools available. Such as: MACD, Momentum, OBV, RSI I recently stumbled onto a page on Investopedia which was highly critical of the MACD saying it was too slow and inaccurate. It instead proposed a different set of skills such as; analysing candles to be better. It promoted these 3 things 1. The trendline 2. The pivot point 3. The candlestick and said these 5 things won't be needed: 1. Moving averages 2. MACD 3. Stochastics 4. Parabolic SARs 5. Bollinger Bands ---------------- This has confused me. Now I don't know what to think.. What do you think about the information above? Are they mutually exclusive or can they be used in conjunction? Also, which do you prefer? I don't have enough experience or knowledge to weigh in on this. Here's the article if you're interested: https://www.investopedia.com/articles/trading/06/againstmacd.asp P.S - I looked back on a daily chart to before the 2017 bull-run and couldn't find a single hammer candle. (do they exist in crypto??) Cheers, G Title: Re: What're the best tools for technical anaylsis? MACD + indicators vs Candles? Post by: Awesomus Maximus on October 11, 2018, 06:31:37 PM No man, they are not exclusive. The more tools you can use the better. Unless all those tools overwhelm your judgment. If you can have a clear mind while using these tools, go for it. But if you are just starting, maybe you can use a more limited set of tools. The first 3 are a must. From the second set, use for example two of your chose. I would use Bollinger Bands together with some oscillator, for example, Stochastics is a good choice.
Title: Re: What're the best tools for technical anaylsis? MACD + indicators vs Candles? Post by: thegoatiest on October 11, 2018, 06:40:24 PM Thanks,
Good to know. I'll continue reading about candle formations. Title: Re: What're the best tools for technical anaylsis? MACD + indicators vs Candles? Post by: bongiu on October 11, 2018, 09:20:14 PM The tools that I like to use when I do trading are are elder fisher transform emma and MACD I always use them in coinigy is a platform created for the cryptocurrency trade also exists tradingview they platform is easy to use too but sincerely I prefer more coinigy !! I hope you find it useful hehe :) ;D ;D ;D
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