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Author Topic: What indicators to use?  (Read 224 times)
Ruso21 (OP)
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March 18, 2020, 09:46:25 AM
 #1

Thinking to learn to understand the chart and I would like to know what indicators to use.
at the moment I have MACD / Relative Strength Index / Momentum
what other indicators are important to use?
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March 18, 2020, 11:23:07 AM
 #2


at the moment I have MACD / Relative Strength Index / Momentum
what other indicators are important to use?
you are already using many indicators if you think that adding more indicators will help you , you are wrong , if you are searching for some holly-grail indicators which gives exact 100% signal , there is no search indicators every indicators are lagging and perfect indicators does not exists so practice what you have learnt and become expert dont search for other indicators 
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March 18, 2020, 11:38:25 AM
 #3

Thinking to learn to understand the chart and I would like to know what indicators to use.
at the moment I have MACD / Relative Strength Index / Momentum
what other indicators are important to use?

With oscillators, I like to keep it simple. I usually use one momentum indicator (RSI, MACD, or Chande will do) to confirm momentum divergence and trend breaks. ConnorsRSI is part of my scalping strategy too but I don't recommend it for beginners because it has a high noise to signal ratio.

Then I look at volume. Volume extremes often indicate exhaustion. Otherwise, strong volume usually implies a trend and weak volume usually implies a counter trend. I like to place On Balance Volume as an overlay over volume.

Then I look at moving averages (like the 10, 20, 50, and 200 period), horizontal support and resistance, and trend lines to predict likely inflection points, and also to confirm trend continuations or reversals.

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March 18, 2020, 11:41:19 AM
 #4

Thinking to learn to understand the chart and I would like to know what indicators to use.
at the moment I have MACD / Relative Strength Index / Momentum
what other indicators are important to use?
MACD
RSI
S & R
Trendlines

Optional :

Fibonacci
Elliot wave
 
You can use all as long you do know how to read it up but i do much prefer on having that naked trading
or just simply using support and resistance line plus having some mix of fundamentals.

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March 18, 2020, 12:01:21 PM
 #5

The eye is the best indicator, if you asked me. Even when you use the above listed indicators you still have to view them well to ascertain when to take a trade or exit it. For me I play with Pivots too and PA (Price Action). They inform me ahead of the movement of price. However, OP should take note of news too while plotting his TA.

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March 18, 2020, 04:58:37 PM
 #6

I always prefer to use my own technical analysis as an indicator of trading. I always look at the volume point and when it is possible to have a resistance. Yeah I know it is very risky but technical analysis is the best indicator for predicting the price. However, I have found this medium post that might help you with indicator in trading. ( Here )

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March 18, 2020, 05:49:04 PM
 #7

Its not depends on your experience and knowledge about the price of any trade being i suggest every one to not invest your money to see any website says that you need to buy any alt coin its only your decision .

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March 18, 2020, 09:10:41 PM
 #8

This isn't an indicator, but I would suggest that you at least learn the basics of support and resistance flips because they're very common in trading even outside of crypto, thus it's useful to be able to recognize these levels even if you don't act on them.

An indicator that I'd suggest you look into is ADL or the Accumulation Distribution Line. TradingView actually has a short wiki article on the indicator here (click for link), and I've found it to be an easy indicator to use at a glance once you understand the fundamentals well.
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March 18, 2020, 11:42:05 PM
 #9

RSI is the best tool for measuring the heat on the market movements. When the oscillator goes and stuck on the top of the line, the sellers will push the price down with eating liquidity on the bid side or vice versa. In general, I don't like to use the indicators due to the useless technical analysis which is not used widely by crypto traders.
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March 19, 2020, 12:07:07 AM
 #10

Relative Strength Index is considered as momentum indicator.
So, RSI will do if you want to get and analyze the momentum of the market.
But I think the question you want to ask is what kind of momentum indicator to use and there are lot of them. The RSI I think is the most common indicator for momentum.
There ais also Stochastic RSI, where I also using at the moment

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March 19, 2020, 04:24:39 AM
 #11

Best indicator is a high time frame, like the weekly or the daily. And then use other indicators to get in on a smaller time scale. Don't rely on indicators using 1 minute charts. And also keep in mind many indicators are always lagging, so when there is a crossover, usually its too late to enter.

So use high time frame and find a trend, whether up or down. Currently the bitcoin trend is down, so only go for shorts. Then use horizontal support and resistance to guide you in your entries and exits. Also use higher highs and lower lows as another indicator to tell you if the trend is correct. Try and not use moving average in bitcoin trading.

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March 19, 2020, 05:02:54 AM
 #12

Thinking to learn to understand the chart and I would like to know what indicators to use.
at the moment I have MACD / Relative Strength Index / Momentum
what other indicators are important to use?

I think that is enough for you, and if you can learn more about that indicator, I guess you will have a chance to get the right time to buy and sell. Perhaps, you can add Bollinger Bands too as the other indicator so you can see where is the trend of the coin price. It is better to learn 3-4 indicator than to learn so many indicators because you will need a long time before you can know how to use each indicator. But that is up to you because we know what we can learn and we know how to use it properly. I am sure each of us will have their indicator that will help them to analyze the market and the coin.
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March 19, 2020, 05:16:03 AM
 #13

Thinking to learn to understand the chart and I would like to know what indicators to use.
at the moment I have MACD / Relative Strength Index / Momentum
what other indicators are important to use?
You should take note that it is not important to know many indicators, it is better if you will only use few indicators. uis important and you will only be confused if you will use many indicators. Focus on mastering the current indicator that you are using today. I only use 2 indicators which is MA and RSI. MACD is a laggard indicator and it doesn't suit my trading style. Find also a indicator that you can use where your style are fit with it.
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March 19, 2020, 05:39:33 AM
 #14


at the moment I have MACD / Relative Strength Index / Momentum


People who want to learn about trading world need to read trend first and MACD is recommended indicator. We need to know market direction because this is our guide to make good plan. About another indicator ( RSI, Momentum, SO, etc ) can be use as enter and exit point. Some people also use it to calculate target and stop loss. Indicator create to help trader but with different purposes and setting, reading trend is the basic.

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March 19, 2020, 05:49:59 AM
 #15

what I am looking for are the most important indicators, each trader has their respective favorite so we can see tons of suggestions.
lots of traders do long term, short terms, or even both.

as I know, RSI & MACD are the most common and used. I failed to use the support & resistance because of unknowledged on how to read.
need to figure out what to use so I can prevent my previous error, error that made me buy before drop and/or sell in the right moment. this part implicates to short term related.

my point is to predict and do some trading in small scale, I mine & buy for long term but now might think to do little short term.
I've been watching Alessio Rastani for a while, from there I learnt something.
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March 19, 2020, 06:42:54 AM
 #16

I would only use the support and resistance method, if the key support or resistance is broken i would wait for a consolidation before buying. Also i use the falling wedge and rising wedge methods cause they're actually pretty accurate most of the time.
Indicators is i rarely use, cause it doesn't seem to be effective in the Cryptocurrency market.

how's the support and resistance calculated? every week Monday to Monday?
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March 19, 2020, 06:55:19 AM
 #17


Support and resistance line can be seen with fibonacci which I think is enough that you don't have to draw them every time there is a breakout.

Tradingview limits only 3 indicators for the free users. Two indicators are enough for you to decide what to do with your trade every time there is a signal. so combining RSI and MACD is enough.

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March 19, 2020, 07:29:41 PM
 #18

All of this makes sense, if you are a trader you should know all of them by heart anyway, even if you use only handful of them you should all of them. Resistance points play a great point but as you can see from what happened recently, sometimes resistance or support doesn't mean anything, where was resistance points when we moved from $10k to $20k, all of them were broken very easily, or when recently when we moved from $8k to $4k, where was it?

Definitely, sometimes they are important but sometimes they are useless. This goes for all others, RSI, MACD, Bollinger band, whatever you can think of, sometimes they do work and you make a profit, but sometimes they are worthless and make absolutely no sense at all, bitcoin is a volatile thing and doesn't matter time to time.

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March 19, 2020, 11:55:59 PM
 #19

You have that MACD already, but it wasn't enough for sure.
Most of the time and I usually checking its volume and rely on the market trend. More tracking devices could only slip you out from focus and you even bothered by then. But if you can only focus on one tool track and its market volume, you will able to work it well.

Not all these kinds of stuff could help you to gain more profit in trading but also it matters how you act base on what you have seen in the market. This is all about decision making and as well as the choice of coin.

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March 20, 2020, 08:23:09 AM
 #20

Those were fine, i used MACD before Bollinger Band and RSI. But after learning other indicators that I think will work fine with my tradings, I have changed some indicators. Now, I have been using Stoch RSI, RSI, and EMA only. But remember, those were just your basis. Regardless how great you are at reading technical analysis, there are times that it isn't effective when whales were tend to enter the crypto market and make such unexpected sideways.
 
 But I would admit, it helps me a lot in my tradings. It is significant to know how to read indicators, volume , etc. As it may contribute to the success of every trades.
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