Which technical indicator is more preferred in technical analysis?

[AICoin_Official]

Just wan to ask about which technical indicator is more preferred when you do technical analysis, your comments will be highly appreciated.

[haroldtee]

For me, there is really no preferred indicator as they all serve their purposes, and you need most of them to have a concrete decision on the step to take before entering a position. However, for some reasons, there is just one indicator I cannot do without which is the Relative Strength Index (RSI) since I can use it to serve two purposes, which are checking for oversold or overbought asset, as well as confirm either a bullish or bearish divergence.

[TERA2]

volume

[AICoin_Official]

For me, there is really no preferred indicator as they all serve their purposes, and you need most of them to have a concrete decision on the step to take before entering a position. However, for some reasons, there is just one indicator I cannot do without which is the Relative Strength Index (RSI) since I can use it to serve two purposes, which are checking for oversold or overbought asset, as well as confirm either a bullish or bearish divergence.

Yes, RSI seems useful in terms of overbought or oversold condition.

[mostkey]

volume

and right. volume can be an indicator where we will do the analysis. will become invaluable when we know the real volume and seek common ground where at the time of determining analysis and aligning with the analysis that comes after it

[omonuyak]

Just wan to ask about which technical indicator is more preferred when you do technical analysis, your comments will be highly appreciated.

In cryptocurrencies trading in prefer using fundamental analysis in combination with  candlestick formations as this provide a wider view on the state of the market.  However, what influenced cryptocurrencies the most is news and fundamental issue that affect cryptocurrencies and if you want to make money from it you should keep your eyes on this.

[Gabz999]

For me, there is really no preferred indicator as they all serve their purposes, and you need most of them to have a concrete decision on the step to take before entering a position. However, for some reasons, there is just one indicator I cannot do without which is the Relative Strength Index (RSI) since I can use it to serve two purposes, which are checking for oversold or overbought asset, as well as confirm either a bullish or bearish divergence.

Exactly ! But when I use the RSI indicator, I also use the MACD indicator. The use of this for me is just like the RSI. I saw it there when there is an oversold and overbought on a particular coin.

[Wind_FURY]

volume

Hahaha and the price when it's dipping!

But seriously, what do "technical indicators" really do for most people? Nothing. If it really did then everyone would be "winners". But sadly that is not the situation. 

[pawel7777]

But seriously, what do "technical indicators" really do for most people? Nothing. If it really did then everyone would be "winners". But sadly that is not the situation. 

Self-fulfilling prophecy is a real thing. If enough traders believe that certain indicator(s) forecasts upcoming bull run - they start buying and the price is actually going up. Or the other way around.

Side note: Everyone who got into Bitcoin anytime before the Nov/Dec rally is a winner.

[surfinonmyownwavebaby]

volume

Hahaha and the price when it's dipping!

But seriously, what do "technical indicators" really do for most people? Nothing. If it really did then everyone would be "winners". But sadly that is not the situation. 

Ya I don't put too much stock into TA but when I do I use RSI, MACD, and SMA for trying to make decisions. Volume is a useful tool too and I look to that when coins are pumping.

[omonuyak]

Just wan to ask about which technical indicator is more preferred when you do technical analysis, your comments will be highly appreciated.

In cryptocurrencies trading you should pay more attention to fundamental analysis more than technical analysis. However, based on your questions I will advice you to study candlesticks formation in other for you to understand the chart pattern in cryptocurrencies trading. Trading is game of knowledge and money management principles and you have to understand the directions of trends most at times in other for you to be able to trade along with it.

[exstasie]

Just wan to ask about which technical indicator is more preferred when you do technical analysis, your comments will be highly appreciated.

1) Horizontal support and resistance. Pivots and breakout areas.
2) Volume for identifying capitulation and breakout conditions. For example, deep crashes that end on very high relative volume is a huge buy signal. Declining volume as the right shoulder forms in an inverse H&S is a confirming factor. Etc.
3) Bollinger bands identify when to "pay attention", that is, when a breakout is coming. Breakouts that follow major BB squeezes on daily/weekly charts have been my most profitable trades ever. Consistently. BBs also help to identify relative highs/lows for better entry and exits.
4) Golden crosses and death crosses to suggest trend continuation. For example, MA50/MA200 crosses.
5) For long term analysis, Wyckoff cycles and Elliot Wave. Not for short-term analysis and definitely not for prediction. These tools are for identifying possibilities and confirming them, not predicting. I hesitate to mention EW because the vast majority of people misunderstand and misuse it (just like all TA).

But seriously, what do "technical indicators" really do for most people? Nothing. If it really did then everyone would be "winners". But sadly that is not the situation.  

Most traders are losers. 80% or more. TA doesn't just work. TA (when done correctly) just suggests statistically EV+ trades given proper risk management. Even if your charts are good, you will consistently lose money if you can't manage risk.

Ten small winners are easily wiped out by one big loser. That's what most people do. Then they say "TA doesn't work!!!!!!11!" Wrong.

Yes, RSI seems useful in terms of overbought or oversold condition.

RSI and similar indicators are useful in a range market, but dangerous during trends.

I generally only care about "oversold" when we are in a raging bull market. During bubble periods, the 1-min chart + Chande momentum or RSI is useful for scalping oversold conditions.

[Wind_FURY]

But seriously, what do "technical indicators" really do for most people? Nothing. If it really did then everyone would be "winners". But sadly that is not the situation. 

Most traders are losers. 80% or more. TA doesn't just work. TA (when done correctly) just suggests statistically EV+ trades given proper risk management. Even if your charts are good, you will consistently lose money if you can't manage risk.

Ten small winners are easily wiped out by one big loser. That's what most people do. Then they say "TA doesn't work!!!!!!11!" Wrong.

It is not because technical analysis just "does not work". It's because most of us do not know how exactly and when to apply it. Most of us are nothing but amateur traders who are going against the "pros" who are better and who have the experience.

Plus more than 90% of traders are losers, not 80%.

[Omega Weapon]

But seriously, what do "technical indicators" really do for most people? Nothing. If it really did then everyone would be "winners". But sadly that is not the situation. 

Most traders are losers. 80% or more. TA doesn't just work. TA (when done correctly) just suggests statistically EV+ trades given proper risk management. Even if your charts are good, you will consistently lose money if you can't manage risk.

Ten small winners are easily wiped out by one big loser. That's what most people do. Then they say "TA doesn't work!!!!!!11!" Wrong.

It is not because technical analysis just "does not work". It's because most of us do not know how exactly and when to apply it. Most of us are nothing but amateur traders who are going against the "pros" who are better and who have the experience.

Plus more than 90% of traders are losers, not 80%.

Also technical analysis does not apply to coins with a low market cap so this means that technical analysis only applies for the top 100 coins the rest of the coins need to be traded using fundamentals and by keeping your eyes on the news and the hype, this is why even a master at technical analysis will lose his money if he keeps his eyes on the charts on those coins.

[Wind_FURY]

But seriously, what do "technical indicators" really do for most people? Nothing. If it really did then everyone would be "winners". But sadly that is not the situation. 

Most traders are losers. 80% or more. TA doesn't just work. TA (when done correctly) just suggests statistically EV+ trades given proper risk management. Even if your charts are good, you will consistently lose money if you can't manage risk.

Ten small winners are easily wiped out by one big loser. That's what most people do. Then they say "TA doesn't work!!!!!!11!" Wrong.

It is not because technical analysis just "does not work". It's because most of us do not know how exactly and when to apply it. Most of us are nothing but amateur traders who are going against the "pros" who are better and who have the experience.

Plus more than 90% of traders are losers, not 80%.

Also technical analysis does not apply to coins with a low market cap so this means that technical analysis only applies for the top 100 coins the rest of the coins need to be traded using fundamentals and by keeping your eyes on the news and the hype, this is why even a master at technical analysis will lose his money if he keeps his eyes on the charts on those coins.

I believe you do not get "why" some technical indicators are not applicable to low market cap coins. The reason for this is because low market cap coins have the tendency to have the highest volatility in the market. So what happens is all their predictions based on "technical analysis" also has the tendency to not predict the market, making them, most of the time, "off the mark".

[jtipt]

But seriously, what do "technical indicators" really do for most people? Nothing. If it really did then everyone would be "winners". But sadly that is not the situation. 

Most traders are losers. 80% or more. TA doesn't just work. TA (when done correctly) just suggests statistically EV+ trades given proper risk management. Even if your charts are good, you will consistently lose money if you can't manage risk.

Ten small winners are easily wiped out by one big loser. That's what most people do. Then they say "TA doesn't work!!!!!!11!" Wrong.

It is not because technical analysis just "does not work". It's because most of us do not know how exactly and when to apply it. Most of us are nothing but amateur traders who are going against the "pros" who are better and who have the experience.

Plus more than 90% of traders are losers, not 80%.

True. Most of times I have ended up buying some coins at their ATH or something the local peak price. Following any of these indicators has proved to be a loss for me, or maybe I'm doing it wrong.

[Virtual miner]

Just wan to ask about which technical indicator is more preferred when you do technical analysis, your comments will be highly appreciated.

All the indicators of technical analysis are prominent because they have their specific role to serve. Preferably I don't go without checking On balance volume, Relative strength Index, Average Directional Index. The main traits of these indicators that make them prominent to me:

● OBV informs about the flow of volume in relation to its price. So volume is an important indicator to determine whether to go for the security or not.

● RSI helps to measure the strength of the security and how can this indication be missed while doing TA.

● ADI gives information about the momentum of the relative security so definetly it makes it important to check.

[JanpriX]

Just a disclaimer: these are my just my thoughts and will not definitely represent the ideas/techniques used by the veteran traders in this market.

Anyone can site different indicator that they usually use in their trades and they can always provide proof that these are very helpful in their own ways. The thing here is that different traders favor different indicators and some of this are not useful on other trader's end. Two of the most used indicators that I god with are RSI and MACD. These are simple ones that usually provide me information on whether I should buy (long) or sell (short) specific coin. Not all of my trades are successful (this is very normal in cryptospehere) but it is definitely profitable in the long run. The trick here is to find what is suitable to your setup. Don't fit yourself to what is generally used but find your own indicator. 

[komjhq]

Just a disclaimer: these are my just my thoughts and will not definitely represent the ideas/techniques used by the veteran traders in this market.

Anyone can site different indicator that they usually use in their trades and they can always provide proof that these are very helpful in their own ways. The thing here is that different traders favor different indicators and some of this are not useful on other trader's end. Two of the most used indicators that I god with are RSI and MACD. These are simple ones that usually provide me information on whether I should buy (long) or sell (short) specific coin. Not all of my trades are successful (this is very normal in cryptospehere) but it is definitely profitable in the long run. The trick here is to find what is suitable to your setup. Don't fit yourself to what is generally used but find your own indicator. 

in order to find your own indicator, you need a lot of practice and experience in this matter. Then the person will be able to really assess his capabilities and act at his own discretion correctly.

[Victorycoin]

volume

Hahaha and the price when it's dipping!

But seriously, what do "technical indicators" really do for most people? Nothing. If it really did then everyone would be "winners". But sadly that is not the situation.  

Well everyone cannot be a winner, but that does not diminish the fact that technical indicators have their place in reaching of market decisions. The situation is like in every other life's  situation, what works best for one person may not necessarily work for another. I like to trade breaks and bounce off support and resistance  levels and my analyses usually involves the use of Bollinger Bands, trendlines and RSI.