Bitcoin Forum

A while back I posted my top 5 indicators to use for technical analysis of cryptocurrencies and how to use them. Full article here, hope you find it helpful:

https://www.cryptoadvocate.net/post/top-5-cryptocurrency-technical-analysis-indicators

Technical analysis is indeed very important in trading, because it requires skills and strategies to trade. I am sure many people will read this article to see and how to use technical analysis.

When i do make charting then RSI- Stochastic ,BB,MA's are the most common Technical tools ive been using.
On the given tools on the link provided i dont make use of 5) Volatility-calibrated ATR I might check this one later on
if i do see  it would fit out on my trading system and also dont forget to list out the very common but suggested indicator which
is that support and resistance.

every trader has a different favorite indicator, even I myself don't really like the indicators you mentioned, all are old indicators that might benefit some people, but for me the indicator you mentioned often gives the wrong signal, maybe because I can't read the indicator.

Like your disclaimer in the article there is really no “best” indicator out there and based from my experience the success of those indicators depends on who is using it. What you have mentioned in your article might just be the most common and also the basic indicators newbies have to know before they even dive in to indicators such as bollinger bands, Fibonacci , and Ichimoku which are some kind of hybrid created from the basics. Whether it's the basics or the advance indicators both requires understanding for its users.

In the end, each and every one of those whom analyze have different indicators they prefer to use. This makes analysis and predictions broad and a bit hard to compare since their foundation of obtaining the said prediction is different in the first place. It is a nice article though, especially for those beginners. Volume is a basic indicator, and even a beginner should know that. I don't particularly use RSI much since I have difficulties at times but I do use Moving averages pretty often in reading charts.

Of course every indicator has a purpose to serve, no matter which you pick up. moving averages help you determine trends, while RSI pinpoints when the Crypto market is experiencing extreme buying or selling. Keep in mind that specific analysis requires specific indicators and tools, and it would the best to understand what types of analysis you want, and what indicators come along the best for that specific investigation.

For me, I am into trend trading and a bit of swing trading and use 4EMA, MACD, StochRSI & Bollinger Bands and trade on the Green ones that has a higher volume. drawings on my chart include Support & Resistance lines along with trend lines (top & bottom) and rarely use Pitchfork for the same. that’s me, you are free to choose the one that best suits your trading strategy.

I can respect you saying that. I often see how people talk down on the analysis of other traders because they are using different tools, while they completely disregard the fact that people have their own methods of analysis.

I personally am a fan of volume profiles and higher time frame moving averages as I don't really trade anymore nowadays, just follow the longer term trend to plan my entry points or to know that it's better to not buy yet.

The subjective nature of trading makes it a tough nut to crack, which is something I like especially because of how it silences critics thinking to predict the downfall of Bitcoin just because there is a bearish formation about to break.

The way he open the message I thought he wrote the article but it was a good read, I also think some of this indicators can be manipulated, which make them not a reliable indicator for decision making. The trend this year had exposed a lot of manipulation mostly from exchanges, it disrupt some of the predictions we look out for and those involved get jobless. We are expecting a new season and some indicators might be added

There's a couple I agree with and a few I disagree with.

Volume analysis is crucial. Most indicators are just derivatives of price; volume is one of the few that isn't. Volume extremes generally indicate inflection points. Strong vs. weak volume can distinguish between the primary trend and counter trend.

A momentum indicator like RSI is recommended but I much prefer Chande Momentum to RSI. I also recommend against using stochastic indicators. Crosses are unreliable and overbought/oversold levels aren't very useful.

Moving averages are always good to keep an eye on. The 20-period, 50-period, and 200-period are my short, mid, and long term gauges for trends. Golden crosses and death crosses can help confirm the primary trend.

For volatility/deviation measure, I prefer Bollinger Bands and BB width. It's a million times more intuitive to read than ATR.

Wow, Your post is very insightful. I'm quite impressed. I've been in the habit of ignoring volume when doing my technical analysis. But after reading your reply, I'm having a rethink. Volume is a undoubtedly a crucial component of any market and shouldn't be overlooked. Henceforth, I'll add volume analysis to my toolbox. It might give me the much needed edge I need. A lot of times, I've seen price increase just after a volume increase. I'll look into it more. Kudos.

With those five indicators that you have mentioned, I only use these three for a very long time.

• Stoch RSI
• RSI
• Moving Average

So far, my trades are doing smoothly with those indicators with me. But there are still glitches. Not all the times that indicators are surely effected. Sudden sideways can't predict no matter how strong that indicators we are using. There isn't the best but it all depends how we read and use it.

I just view to see those indicators that is old indicators bit very helpful what i only not frequently use is the ATR because it is only a single indicator although it is a big help in combining with our trade stop losses. The others are my favorite indicator particularly the RSi and moving averages to support my trading confluence in doing technical Analysis.

One of the best out there, give it a try!

I agree with the conclusion part of the article, there is no perfect or accurate technical indicator, even though this is quite old but still, this is very helpful and that is very common steps in trading that we must apply. Great thread and those who are planning to go in trading should know this kind of analysis. I like to know more he number 3 and number 5 strategies it looks interesting. Nevertheless, don't rely on other's work, you should do your own research because that is your own risk too.

I don't pretend to know much about cryptocurrency TA indicators and their difference when it comes to trading different stocks because crypto after all is just like a different type of "stock." So I believe the same useful indicators that apply to traditional trading should also be useful in crypto?

Not sure I see a different set of useful indicators tailored for the crypto market.

Trends indicator is easy to analyze and most of them works in my daily trade. Trend indicators will tell you which direction the market is moving in. and the way to analize it is whit ichimoku cloud technic which we can see the blue line, red line, and green line. It's easy to learn and works with my most of trades

Even though I think indicators is a very subjective thing which depends upon your trading style and strategy yet the list you have made is kinda okay. I mean volume pretty much is an entry in list of almost every good trader as volume can provide you with the pulse rate of whole market. The rest of 4 indicators too are lagging indicators or what we call oscillators and you would generally have atleat one moving average and one oscilator on your trading system. My personal preference is Volume, MA11, MA50, MA200, RSI, MACD.

The article doesn't even said anything how to use this Volatility-calibrated ATR.
When you started to try to find out which of the indicators are more effective to use, you start digging information from the limited access to it. Volatility-calibrated ATR tutorial would be probably good, I know he said he isn't going pretend to know the ins and out of it but do we know how to use it?

Thank you

These are pretty basic indicators, but they have so many intricacies and to fully master them you need to practice a lot and grasp all their meaning. But you don't need to use all of them, of course. A trader can make lots of money just by using simple horizontal lines. Remember that you should use indicators that you think have confluence with each other and can actually help you assess the risk you should take on a trade.

Agreed

from the 5 indicators mentioned above I only use Moving Average and Stochastic RSI.
I usually use 3 indicators RSI, MA, BB and use the trendline to determine the market is bear or bull.
so far my TA can be said successfully check my TA https://www.tradingview.com/u/pamsugas/

The article was nice and detailed, but I think they lacked something important to correctly predict the trend. It's the Elliott wave and the Fibonacci and EMA.
Those are things that need to be included in the article to enlighten the minds of new people. I have failed trade many times because I did not capture those basic signals.

volume as indicator. nice. i don't see that often. BTC/USD will always have a huge volume where we normally trade.


 i didn't know we actually have a profile in trading view. i did register in through my android phone while installing the app. but didn't care to complete my profile. interesting while they do this because we can see who's who. i navigate more to it but didn't see list of users with higher reputation.

I'll agree with fibonacci anyway