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Author Topic: What technical indicators do you use for trading cryptocurrency?  (Read 557 times)
Calm N Patience (OP)
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October 16, 2017, 10:04:08 AM
 #1

To all the master traders, top winners, and geniuses, please share your top technical indicators for trading cryptocurrency, which is the best?
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October 16, 2017, 11:09:52 AM
 #2

To all the master traders, top winners, and geniuses, please share your top technical indicators for trading cryptocurrency, which is the best?

technical analysis maybe? you can see in trandingview a lot of people draw analysis  in it.
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October 16, 2017, 07:06:27 PM
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Thanks. Just checked  on Tradingview, that's awesome!
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October 16, 2017, 08:31:25 PM
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Thanks. Just checked  on Tradingview, that's awesome!

Just as a disclaimer before you use what other people draw as your own work and stuff like that, I'd watch a ton of videos on Technical analysis and Bitcoin / other cryptocurrencies. As other people, who get a fair bit of attention on TradingView, could be doing this in order to get tons of people who see their 'analysis' to trade a certain way. So I wouldn't blindly follow what someone does along those lines.

I also don't think you can use technical analysis in these ways, as they're good with stocks with huge trading volume and market caps -- not stuff like   SMALL cryptocurrencies.




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October 16, 2017, 08:46:36 PM
 #5

To all the master traders, top winners, and geniuses, please share your top technical indicators for trading cryptocurrency, which is the best?

I am not a "master trader" by any means but I did do some reading on the subject to help me time my buys better for my sales BTC sales on paxful. The most useful tool I have seen so far is using Fibonacci retracement, you can use it in trading view on most of the major exchanges. Essentially you draw a trend line and it will automatically calculate the most likely key "resistance" lines to help you find price floors and price ceilings. It's not fool proof but I'd say it can help your chances of getting your timing right by 10-20%.

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October 16, 2017, 09:29:25 PM
 #6

To all the master traders, top winners, and geniuses, please share your top technical indicators for trading cryptocurrency, which is the best?
I´m no expert nor genious but can let two or three notes.

Technical indicators rely on market history and volume. Crypto has neither. That said we can ignore it and use them with caution in high volume coins with established history. Of course the best would be BTC/USD pair.
Other thing to remember there is not one technical indicator that works alone. I would use SMA for trends, bollinger bands and fibonaci for support and resistance and to determine entry points, MACD for momentum.

I´ll be checking back to the thread to get new ideas and learn a little more on the matter.

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October 16, 2017, 09:35:45 PM
 #7

To all the master traders, top winners, and geniuses, please share your top technical indicators for trading cryptocurrency, which is the best?

When it come to technical analysis I really don't dwell much on it as most times depending on the exchange site one is using, the analysis is already done. All I do is to decide whether I want to go with such analysis or use my own guts to determine the best course of action. Whether technical or not, what I hold dear is me being responsible for my own decision and be ready to face whatever outcome that arise as a result of such action.
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October 17, 2017, 02:16:14 AM
 #8

To all the master traders, top winners, and geniuses, please share your top technical indicators for trading cryptocurrency, which is the best?

I'm not day trader, only use MACD with long time period ( day - week - month ). MACD is good for trading but if you have mindset as an investor, but others I can't say nothing. Even sometimes there's delay and not fix with price action, but the cross line give me 60 - 70% right sign to take action. But if you use MACD, you must also use wisely money management depend how much your fund?. Keep practice and find the best way to face the risk. Good luck.
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October 17, 2017, 02:21:23 AM
 #9

To all the master traders, top winners, and geniuses, please share your top technical indicators for trading cryptocurrency, which is the best?

I'm not day trader, only use MACD with long time period ( day - week - month ). MACD is good for trading but if you have mindset as an investor, but others I can't say nothing. Even sometimes there's delay and not fix with price action, but the cross line give me 60 - 70% right sign to take action. But if you use MACD, you must also use wisely money management depend how much your fund?. Keep practice and find the best way to face the risk. Good luck.
Yes, I don't make myself involved into bitcoin trading similar to that of the day trading. All that I do is, just fix the price by which the asset needs to be sold. This lets me get the expected profit, but patience is required. Same is with buying, used to set the low value and automatically the buying takes place if price drops low.
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October 18, 2017, 12:05:00 PM
 #10

Thanks. Just checked  on Tradingview, that's awesome!

Just as a disclaimer before you use what other people draw as your own work and stuff like that, I'd watch a ton of videos on Technical analysis and Bitcoin / other cryptocurrencies. As other people, who get a fair bit of attention on TradingView, could be doing this in order to get tons of people who see their 'analysis' to trade a certain way. So I wouldn't blindly follow what someone does along those lines.

I also don't think you can use technical analysis in these ways, as they're good with stocks with huge trading volume and market caps -- not stuff like   SMALL cryptocurrencies.

Have you ever used technical analysis on cryptocurrency trading?
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October 18, 2017, 11:51:12 PM
 #11

To all the master traders, top winners, and geniuses, please share your top technical indicators for trading cryptocurrency, which is the best?

Very few.  First, very simple, the selling price, followed quickly by the buying price.  Then, immediate volumes, followed by highs and lows for the 24 hour period.  Imagine this, go to the store and find a great sale on X product, was $10, now on sale for $8, that is indicator #1 for interest.  Next, what is going on with the other side of the market?  No buy tickets at all?  Steady near price tickets?  If there is zero chance of selling the $8 product back or zero chance of selling it for more, then walk away, if there is a 50% or better chance to sell it at $8 or better, continue.  Next, huge volumes of sales or buys in the last 24 hours, if they are dumping, forget it, huge buys, good sign.  Lastly, what has the day shown for averages, is this a pump and dump, is it a wave of interest or this is par for the course.
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October 19, 2017, 04:41:18 AM
 #12

I use the moving averages to analyse a crypto currency. I learnt it from Trevon James videos on youtube and found out that they are pretty useful when it comes to make a decision to buy or sell. The moving averages (13, 34) shows the buy and sell lines from which we get a clear understanding of how well the coin is doing now. It has helped me quite well in my trading.

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October 19, 2017, 04:52:46 AM
 #13

I use the moving averages to analyse a crypto currency. I learnt it from Trevon James videos on youtube and found out that they are pretty useful when it comes to make a decision to buy or sell. The moving averages (13, 34) shows the buy and sell lines from which we get a clear understanding of how well the coin is doing now. It has helped me quite well in my trading.
Yes moving average can give idea about perfect buying and selling points but during huge moves in market which is quite normal in volatile market of crypto, moving average might not be useful.

HYPE and FUDS can easily affect crypto market so its better to keep close eyes on news and updates of different coin to make perfect entry and exit. Buy on hype and sell on the news...
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October 19, 2017, 06:06:39 AM
 #14

To all the master traders, top winners, and geniuses, please share your top technical indicators for trading cryptocurrency, which is the best?
I rely heavily on Support and Resistance. And then use the SMA (Some Moving Average) set at 25 to get into trades. I look up to the 4hrs candle or the daily candle to cross it and remain there at the end of that candle for a buy or sell signal. Of course, I know the SMA is a lagging indicator and also has its demerits but it works for me.

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October 19, 2017, 08:35:29 AM
 #15

I found the information and statistics available insufficient, so I made and app to address that issue and to get easier overview of technical indicators. I haven't found anything more useful. I am open to alternatives though ;-)

This is for altcoins trading  https://cointerminal.io . You can easily scan through all markets from 4 biggest exchanges or get advanced statistics like Linear Regression, RSI, ADx, MACD, Heikin Ashi, etc. The app can be connected to your exchange account to fiter out markets with open positions, see account balance, portfolio value, order history,...

And this is for day trading BTC https://cointerminal.io/heatmap, visualization of volume flow - you can see trading history projected right onto candlesticks and heatmap of orderbook - awesome way to see support and resistance. + VWAP, Ask/Bid ratio, ... play with the top bar controllers and sliders. But it might be more useful for skilled forex traders who are used to this style of charting. I also haven't found anything similar for BTC.
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October 19, 2017, 10:34:13 AM
 #16

To all the master traders, top winners, and geniuses, please share your top technical indicators for trading cryptocurrency, which is the best?
Using technical analysis is one of the effective way of making profits in bitcoin trading. I have been using relatively strength index to analyze chart and to determine if the coin is at over bought or over sold area. Then most times using moving average crossing or candlesticks formation to confirm the signal of when to buy or sell.
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October 19, 2017, 11:14:10 AM
 #17

To all the master traders, top winners, and geniuses, please share your top technical indicators for trading cryptocurrency, which is the best?

i preffered fibbonacci with matching resistance and support. Im using fibbonacci when the coin is rising but not all of the time the pricing of coin will pumping evry minute sometime when dump. If fall a price i enter in the market cause thats a good sign why ? Because thats a time a big volume this is strategy used for short trading. Gud luck
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October 19, 2017, 11:29:53 AM
 #18

to be honest there are no masters,geniueses in trading world,
because in this world we need some luck for everything that we do,not only our head and our money.
cryptocurrency is very different compared to others assets because it's very easy to get manipulated,
so technical analysis will not work fully on it,but you need it to read the whole map.
just use a simple indicator such as MACD and something like that,
afterward try to learn everything about what will happen with it and what is going on.
that is the most important thing that we need to know because with just 'one' news we can see the price is surging or drowning.
just take a look at our drama before,
(chinese banning Bitcoin exchanger).
always do your own research and use a simple indicator to read the map,
other than that,prepare some of your money to back it up because someday you'll get caught into it and you need to hold it a little bit longer,
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October 19, 2017, 11:33:55 AM
 #19

To all the master traders, top winners, and geniuses, please share your top technical indicators for trading cryptocurrency, which is the best?
You should know the basics rules of trading first. Trading is not an easy earning method for all. In your question, you can target on trading view. You have to follow the sufficient amount on market cap regularly. Don't wait for a big amount at a time. If you are a day trader, you can earn money safely by selling negotiable price than the price of you buy.

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October 19, 2017, 11:37:00 AM
 #20

Tradingview allows for nice drawing over charts. Community feeds are also useful in getting a sense of the market's sentiment but there are still are some looneys there. People use it to go crazy over rainbow charts sometimes and it's kinds funny.

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