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Author Topic: Best indicators for this situation?  (Read 235 times)
DarkDays
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July 01, 2021, 03:43:48 PM
 #21

As you can see guy a there's no stable progress after the massive decline in the market and sometimes when it start showings green it didn't last long always wherein after day or two it's always suddenly disappear and turn into red again.
For me because I'm not a professional trader it became too difficult to predict or just to have a clue even you used some of those useful indicators..

And these what i use on this current situation.

Williams alligator
Bollinger
RSI
SAR
Stochastic
Supertrend
Macd
Ichimuko clouds

What's your thoughts? Any recommendation because to be honest when the market start struggling, those indicators are not accurate anymore and it gives me a false information..
You're right, these indicators like many others out there are less and less accurate in a bear market. And this is because it is more difficult to interpret market moves when the general sentiment  is down. The best thing you can do is learn as much as you can from general trends and keep an eye out for potential news that might move the market in either direction.
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July 01, 2021, 07:00:36 PM
 #22

You could try a lot of indicator combinations. Usually, Bollinger Bands with MACD or RSI is a great way to start. I mean, they could really help you assess if you are going to have long position or a short position. There are a lot of resources that you could check and one site that amazes me is from Binance Academy.

You could check it out here: https://academy.binance.com/en/start-here#trading

They have a very thorough type of topics available and you could really learn a lot from there.
Add EMA into that and you are basically done already, most others are totally useless. I do not like Bollinger Band all that much because it just moves the post too much, it shows one thing and if it stays like that for a day suddenly what was insane yesterday becomes expected today according to BB and that is not something I really like in TA because I want some stability of my predictions. However one thing I like about EMA is that you are checking the weekly and depending on the weekly you could make a prediction for the next week, it is always stable because what happens today should impact tomorrow logically.

MACD and RSI is very nice as well, I have used them in a trading bot before and it did worked not so bad, especially when buying it is definitely catching right before it hits bottom, selling is quite difficult in any indicator at all times.

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July 02, 2021, 02:25:26 AM
 #23

You could try a lot of indicator combinations. Usually, Bollinger Bands with MACD or RSI is a great way to start. I mean, they could really help you assess if you are going to have long position or a short position. There are a lot of resources that you could check and one site that amazes me is from Binance Academy.

You could check it out here: https://academy.binance.com/en/start-here#trading

They have a very thorough type of topics available and you could really learn a lot from there.
Add EMA into that and you are basically done already, most others are totally useless. I do not like Bollinger Band all that much because it just moves the post too much, it shows one thing and if it stays like that for a day suddenly what was insane yesterday becomes expected today according to BB and that is not something I really like in TA because I want some stability of my predictions. However one thing I like about EMA is that you are checking the weekly and depending on the weekly you could make a prediction for the next week, it is always stable because what happens today should impact tomorrow logically.

MACD and RSI is very nice as well, I have used them in a trading bot before and it did worked not so bad, especially when buying it is definitely catching right before it hits bottom, selling is quite difficult in any indicator at all times.

If you only have 3 indicators to add to your tradingview account, which one will you add apart from MACD and RSI?  I tend to remove the MAs since I already have MACD. Essential indicators used in TAs are often doing the same functions as the BB and stochastics. What other indicators to use that you think good to use?



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July 02, 2021, 07:48:33 AM
 #24

We are still in the death cross, waiting for that golden cross to appear sometime in the next few weeks or months. Currently I am just playing swingtrade for ETH/USD , BTC/USD  with the help of RSI / MACD / Volume / MA / and BB
That's are the common indicators in trading and I'm also using it because it always works for me. The market is still trying not to dump that much and it's good to see Bitcoin beyond $30k again same thing with ETH that recently go above $2k, that could be consider as the strong support. The market is still down, the best thing to do right now is to have strategies and a long term plan, like what coins to hold.
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July 02, 2021, 08:56:41 AM
 #25

It depends on your strategy. Even though we are currently in the bearish market, we can still scalp in the market. The strategy that I am using right now is based on support and resistance with the help of the RSI, to know which trend is existing at the moment.
yes RSI can really tell if the coin is over sold or over bought but the fact that after market turned into bearish, that indicator also became to hard to monitor just to get the right time to buy and sell.. And you know sometimes it's showing over sold sign in the graph but it continue to going down more instead of showing a trend afterwards. Probably it's good to take a break rather than take all the risk because of this current situation..  Wink
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July 02, 2021, 09:50:54 AM
 #26

It depends on your strategy. Even though we are currently in the bearish market, we can still scalp in the market. The strategy that I am using right now is based on support and resistance with the help of the RSI, to know which trend is existing at the moment.
yes RSI can really tell if the coin is over sold or over bought but the fact that after market turned into bearish, that indicator also became to hard to monitor just to get the right time to buy and sell.. And you know sometimes it's showing over sold sign in the graph but it continue to going down more instead of showing a trend afterwards. Probably it's good to take a break rather than take all the risk because of this current situation..  Wink
This simply means that not all got perfect, it may be it works in this particular situation and might not work for others.
That is why trading is not an easy job especially during the bear season, we have these numbers of trading tools but none of them would work at its best, it still needs for us to analyze the situation carefully.

If that so, maybe we have to try another hoping that it works. Perhaps, trading is full of trial and error, yeah, we had to lose sometimes. That really funny I think, but that is the real talk, not all the time we are lucky, just like the market isn't at bullish always.


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July 02, 2021, 10:06:01 AM
 #27

The best indicator for now is your psychology because most technical indicators are either lagging or leading and ends up complicating your trading account. First have the right mind set for the current decline and understand that we are currently facing a choppy market in which it's adviceable for traders to stay clear from the market until a trend is redefined so that ones trading account wouldn't be used to salvage the dip.
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July 02, 2021, 02:52:08 PM
 #28

The best indicator for now is your psychology because most technical indicators are either lagging or leading and ends up complicating your trading account. First have the right mind set for the current decline and understand that we are currently facing a choppy market in which it's adviceable for traders to stay clear from the market until a trend is redefined so that ones trading account wouldn't be used to salvage the dip.
It is either we have to trust our psychological instinct or remain relying on the technical, that guarantees nothing. I think we need to apply them both, maybe we could see a positive result but as I've said, we can't sure that it works perfectly or at least no huge losses. And besides, we are not just aiming to gain more profit but what we wanted to is to save some of our funds during the crisis. Coz we know how hard to generate profit at this situation and especially when we only have small capital.
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July 03, 2021, 04:55:20 PM
 #29

Add EMA into that and you are basically done already, most others are totally useless.
That might not be suitable for everyone knowing that they have their preferences with regards to what indicators they are going to use on it. It's always going to be the part where you could put so many indicators but they are just clouding your judgment. It's still best to stick to what you know, like what you said, yours is EMA, and stick to that. It's better that way.

I do not like Bollinger Band all that much because it just moves the post too much, it shows one thing and if it stays like that for a day suddenly what was insane yesterday becomes expected today according to BB and that is not something I really like in TA because I want some stability of my predictions.
You do know that BB's are based on MA's as well. It's in conjunction with a certain value of MA and there's just a ± of deviation from it. Everything is being looked upon though.

MACD and RSI is very nice as well, I have used them in a trading bot before and it did worked not so bad, especially when buying it is definitely catching right before it hits bottom, selling is quite difficult in any indicator at all times.
I believe too that entry is more important than the sell because as long as you have a %gain in your trades, it's still better than 0.

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July 16, 2021, 01:18:51 PM
 #30

Among the above listed, I have used macd, RSI and sometimes bollinger. They are good.
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July 17, 2021, 02:08:19 AM
 #31

The best indicator for now is your psychology because most technical indicators are either lagging or leading and ends up complicating your trading account. First have the right mind set for the current decline and understand that we are currently facing a choppy market in which it's adviceable for traders to stay clear from the market until a trend is redefined so that ones trading account wouldn't be used to salvage the dip.
It is either we have to trust our psychological instinct or remain relying on the technical, that guarantees nothing. I think we need to apply them both, maybe we could see a positive result but as I've said, we can't sure that it works perfectly or at least no huge losses. And besides, we are not just aiming to gain more profit but what we wanted to is to save some of our funds during the crisis. Coz we know how hard to generate profit at this situation and especially when we only have small capital.
For those who are experienced in trading, I don't think it's an obstacle in any situation, they can still take advantage of the moment. but since I'm not like that for now I'm just relying on investment, and save on my own expenses. in my opinion there is no best indicator, the best is an indicator that we can understand its characteristics so as to make a profit

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July 17, 2021, 02:18:29 AM
 #32

Using Fibonacci is a great tool to determine where should be the perfect price level to buy during a massive correction. Combining it with indicators like BB and MACD will give you confirmation to buy at the buy zone level which is 1.13 and above level. Using more indicators at same time means more error and confusion in your trading. Just make your chart as clean as possible so that you can easily see the patterns.

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July 17, 2021, 03:19:10 AM
 #33

Using more indicators at same time means more error and confusion in your trading. Just make your chart as clean as possible so that you can easily see the patterns.
That is why I just focus on the Volume, RSI, MACD...
By simply having them is enough for me to make TA. I understand that not all the time it works perfectly but this will help us to boost our chance to go along with the market. It is for sure, we are all not on a winning side despite having these all trading tools it is because the market is unpredictable.

Once I've been in trade, I also ask for some luck with me like I was in gambling. But unfortunately, sometimes we've not heard, I lose actually like a normal happening.

R


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LLBIT|
4,000+ GAMES
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