What technical analysis indicators works for crypto day-trading?

[Jarijah]

Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?

For a good trader in cryptocurrencies, you use a combination of several indicators,not just one. each tell the trading story from different perspectives so that you can make better judgement

You're not really contributing ... what do you suggest? What indicators do you work with?

[tobi4255]

- As said fibonacci, bollinger - but if you use bifinance, for example and other sites like it, you dont even really need to understand the maths and economics. There are really user friendly drop-down menus, which, once you have selected your coin of choice; apply it to it with said method.

There's some great Youtube videos out there and even seasoned old hands, in my opinion sometimes can get ahead of themselves and the basics. So it's worth once in a while doing a youtube search for an instructional vid on literally, for example, something like 'beginners guide to cryptocurrency analytics' or 'how to use the drop down menu's on bifinance website.' - Works for me to brush up fundamentals once in a while.

I personally rate the KISS (keep it simple stupid) approach, and if the stock has a value and is being traded under that average value - compression can occur. Then some say the rebounds come in upspikes of 2's and 3's; then either level out or more likely peak and go back down - sell sell sell!

[taiwww]

So you are a TA lover. To be frank I never liked the idea of technical analysis in the Cypriot currency because it does not apply here. I mean crypto currency is way too hard to predict based on the technical analysis data because it is not the same whenever it is predicted and when the actual time point comes up front. Also when it comes to the day trade then just forget about that any correct theory might be put forth it to predict the price movements in right way. For me fundamentals are very important. They do affect the crypto movement and they can be pre-judged very easily. So its upto you what to choose.

[bene_gesserit]

I used stuff like Bollinger Bands or RSI, which I find quite useful.
But I also rely on machine learning predictions or sentiment analysis, at least for the short to medium term strategies.
Stuff like this: https://enroyd.com/Predictions/
Of course no machine learning algorithm can predict the exact price, but I think of it as another indicator.
What do you think?

[wxa7115]

Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?

Indicators are nothing more than tools, there is not one that is more effective when it comes to this market, what you need to do is to understand when to use the most appropriate tool for the job, for example it is a mistake to use a hammer when you need to use a screwdriver, moving averages are great when the market is trending, the direction of the market does not matter, as long as there is a big trend you could use those indicators to make money, but when the market is moving in a tight range I prefer to use oscillators instead.

[Jarijah]

Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?

Indicators are nothing more than tools, there is not one that is more effective when it comes to this market, what you need to do is to understand when to use the most appropriate tool for the job, for example it is a mistake to use a hammer when you need to use a screwdriver, moving averages are great when the market is trending, the direction of the market does not matter, as long as there is a big trend you could use those indicators to make money, but when the market is moving in a tight range I prefer to use oscillators instead.

I do agree they are just tools ... they are more like signs ... it's like when you see dark clouds outside (1 sign) and the temperature is going down (sign 2) and there is a cool breeze (sign 3) => it'll most probably rain soon, I'd better bring an umbrella.

So it's like with stochastics, if the stochastics show an oversold for a longer period of time, I'll try to look at the EMA to see when the trend may have run out of fuel. The problem with crypto is that it's so hype heavy. That's why I am asking some tips from experienced TA crypto traders.

[sumanto]

I think the indicator of the daily cryptocurrency price is that you should see the volume development of the coin you want to buy afterwards you can see the existing chart is enough to help make a profit.

[creeps]

Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?

For a good trader in cryptocurrencies, you use a combination of several indicators,not just one. each tell the trading story from different perspectives so that you can make better judgement

You're not really contributing ... what do you suggest? What indicators do you work with?

Well, he might be trying to say that its better to use every indicators you know.
In cryptocurrency TA will work also, try to use Moving Average, MACD, Fibonacci. This three can help you a lot aside from the resistance and support level or the candle movements. One important thing in TA is that, you should know the effects of the trading Volume.

[Jarijah]

Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?

For a good trader in cryptocurrencies, you use a combination of several indicators,not just one. each tell the trading story from different perspectives so that you can make better judgement

You're not really contributing ... what do you suggest? What indicators do you work with?

Well, he might be trying to say that its better to use every indicators you know.
In cryptocurrency TA will work also, try to use Moving Average, MACD, Fibonacci. This three can help you a lot aside from the resistance and support level or the candle movements. One important thing in TA is that, you should know the effects of the trading Volume.

Dude using every indicator possible is a cluster fuck of lines and shapes ... the more indicators you use, the less sure you are about your understanding of market behavior. But that's just me. I agree on trading volume though. Very underrated and overlooked in my opinion.

[KXC247]

You need to understand how to make your analysis with the charts when trading daily. You need to use tradingview as well. Ema, bollingerbands and stochastic are very good indicators to use when trading as well

[Jaci]

In a couple of days ago I use Technical analysis MT4 indicators but it is not working properly in cryptocurrency trading. It is working properly only in Forex and binary trading. If you use technical analysis indicators for cryptocurrency day trading and you understand it is not work in day trading. Now I'm following the manual and still now make some profit.

[Tynovten_]

Ema and sma use much of indicators in crypto but i never used it. See the volume of the indicators makes you have big chance in crypto because you've understand the indicator.

[ufaiz50]

Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?

I recommend Tradingview for you, I personally have 3 months do not read or see the technique of indicator analysis, do not know why I think it will be easier to see the future market just with news, new holders are easily affected by news and here the new holders are more visible in market movements.

[Cryptokarl]

Actually, every technical indicator in a chart has its work that its doing. You need to choose the one that suits your trading style and the one that is more accurate than the others.

Bollinger bands and stochastic are very good indicators I use while trading. It makes me get the better view of that the market is doing and I can make good and better decisions in my trade

[boakyei]

Moving averages are my favorite technical analysis for trading cryptocurrency. In addition I used parabolic sar and Bollinga band ,which is effective in determine entry and exist point.

[darewaller]

Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?

There isn’t much difference between forex and crypto trading so I believe that if you know much about forex trading you will also know how to trade crypto.

I am always surprised when I see some people that claimed to be good at forex trading complain that they don’t know anything about crypto, or maybe say that they think crypto is harder than forex or that forex is harder than crypto, lol. I don’t even think such people have been into forex, they just here to make comments that’s all.

[Jarijah]

Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?

There isn’t much difference between forex and crypto trading so I believe that if you know much about forex trading you will also know how to trade crypto.

I am always surprised when I see some people that claimed to be good at forex trading complain that they don’t know anything about crypto, or maybe say that they think crypto is harder than forex or that forex is harder than crypto, lol. I don’t even think such people have been into forex, they just here to make comments that’s all.

Well there is quite a difference to be honest ... just like the tides of the sea ... in forex there is trading volume that is kinda predictable, whether it's the day of the week or the hour of the day (whether it's Asia market, European market or American market) ... a monday volume is different than a thursday or a friday ... with crypto you have  7 instead of 5 days. Then there is more historical data, which validates your analysis.

It's easy to say that price action is price action, whether stocks, forex, features or crypto ... but I've heard more than a few stories of people who transitioned and had to apply a different toolset when trading crypto. 

[cellard]

I just stick to the basics. My favorites are:

-Trend lines: Drawing resistance points and ceilings and following if they are broken or not. If they become broken then I just expect a speedy move in said direction.
-EMA: Moving averages serve has strong floors or ceilings which need to be broken themselves, just like trend lines but you don't draw them, they just happen and are drawn for you.
MACD: To see volume.

That is all to be honest. I don't really use any of the other fancier indicators like bollinger bands and so on. I sometimes may throw in fib retracements. It's all we have, unless you have insider info on the fundamentals.

[Jarijah]

I just stick to the basics. My favorites are:

-Trend lines: Drawing resistance points and ceilings and following if they are broken or not. If they become broken then I just expect a speedy move in said direction.
-EMA: Moving averages serve has strong floors or ceilings which need to be broken themselves, just like trend lines but you don't draw them, they just happen and are drawn for you.
MACD: To see volume.

That is all to be honest. I don't really use any of the other fancier indicators like bollinger bands and so on. I sometimes may throw in fib retracements. It's all we have, unless you have insider info on the fundamentals.

Instead of MACD, I use Stochastics, but I agree and I bet your charts look clean as well.

[binhvo1505]

Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?

There will be no best analysis tool. In my opinion, perfection comes from your thoughts. You should not trust any analytical tool because it's just a machine. The Crypto market is constantly changing and trends are never forever. So our analysis will be highly appreciated.