Are you using trading indicators?

[Oshosondy]

It is quite a while I have been on this forum, I have noticed some people saying they are not using trading indicators for trading, some people highly recommend people to use indicators. As for me, I have noticed to better draw lines or just carefully look at the candle sticks which significantly got me many information about the next steps to take. Out of all the indicators, I have preferred the RSI but which I can still also predict from the candle stick and I like drawing lines which can easily indicate the extent market increase or fall.

I just want to ask this question, are you using indicator for trading? If using it for trading, is it helping you. I just want to go beyond what we are reading online and see what people will have on this.

If you are using indicators for trading, which ones have you used that make a good trades for you?

[perla]

Just like you I was using RSI to determine if it is overbought or oversold as well as looking for divergences that may indicate if it was a bullish or bearish market. Different traders have different kind of analysis some users only rely on support and resistance and candlestick movement but that doesn't mean that it is not effective. So yes I am using indicator and it help me to understand more what the market is telling.

[hugeblack]

Most traders use Moving Average Convergence Divergence (MACD)^[1], Balance Volume (OBV)^[2], and Relative Strength Index (RSI)[3], as a basic indicators for trading, they help in determining entry and exit points, which can be the basis for placing buy and sell orders.

these indicators should not be separated from metrics such as results from the glassnode, volumes of withdrawals from platforms, news, and analysis of market psychology.
These metrics above are based on Bitcoin trading and a few altcoin pairs.
As for the rest of the altcoins, they are just speculations, relying on news more than technical analysis.


[1] https://www.investopedia.com/terms/m/macd.asp
[2] https://www.investopedia.com/terms/o/onbalancevolume.asp
[3] https://www.investopedia.com/terms/r/rsi.asp

[palle11]

Relative strength index like the name is to know the strength of market and where price have been going to so it helps traders although it has a fault that when market direction have changed to buy, it still stays down indicating for overbought until it will slowly change to buy signal. Apart from RSI, drawing of lines and chart are good, mastering candlestick is also good but on a longtime.

[Maus0728]

I mostly follow the teachings of this subreddit where they use:

- 3/8 Exponential Moving Average (EMA) cross
- 50-/100-/200-day (Simple Moving Average) SMA's
- and On-Balance Volume (OBV)

I mainly use the 3/8 EMA to identify the entry for a particular a asset using the 5-Minute TF (M5). The SMA's, on the other hand, is used to help me identify which directional bias is ideal on a particular trade including the volume. These 3 indicators, along with the simple S/R, are the only ones I've used to ascertain the market. And personally, the fewer indicators, the better.

Moreover, since the reddit group are primarily trading in stocks, some of the indicators they used such as IOP isn't available in crypto, so before doing any trades, and as an alternative, I do a quick eye scan on the LiveCoinWatch.com to see which of the alts are showing signs of RS/RW that could give you a bigger picture of the overall market sentiment. Because they said that it is important to see the status of the market first before doing any trades.

[rhomelmabini]

I just want to ask this question, are you using indicator for trading? If using it for trading, is it helping you. I just want to go beyond what we are reading online and see what people will have on this.

If you are using indicators for trading, which ones have you used that make a good trades for you?

I do. I don't think there's a trader that isn't using an indicator for venturing into trading, even experts do use it still even if they are knowledgeable enough for the market. I'm more on the lines, volumes, RSI and even Fibonacci indicator, these are just my favorite ones. I wouldn't bloat all them on a chart though as it will be unreadable on my end, I try to be clean as possible on my charts so I can read it more clearly and understand it better.

[MonsterV]

I am definitely using trading indicators, to see market status just like what was mentioned by the others. When market status is determined, then trading decisions could be formulated and done accordingly. Indicators are significant tools that really eases trading for me, and somehow lessens my impulsive trading and losing moments. So, that’s for my personal experience using such.

[jackg]

There are times when I've turned on/had indicators default loaded and they do look like they be used to find where resistence may be in some cases but I don't think they're very accurate.

You're better off drawing lines of support and resistance and backing up your drawings with indicators if you're just starting out (also don't use futures until you're confident and have done spot or paper for a while).

[Jazzi Mahesh]

The indicator does not specifically provide any buy or sell signals; the trader must interpret the signals to determine trade entry and exit points that fit his or her own unique trading style. Several different types of indicators exist, including those that explain trend, momentum, volatility, and volume.

[carlfebz2]

I just want to ask this question, are you using indicator for trading? If using it for trading, is it helping you. I just want to go beyond what we are reading online and see what people will have on this.

If you are using indicators for trading, which ones have you used that make a good trades for you?

Not all the times there would be news or fundamentals which you could make use on your trading analysis which simply means that you would really be mainly make use of technical indicators.
It wouldnt matter if its effective or not because the market is unpredictable and random which whether you do make use of indicators or not.
Naked trading or does have lots of indicators been used as for my own i do make use of

1. MA
2. RSI
3. MACD
4. Common support and resistance line

Depending or varying on what time frame you are tending to snip out some positions since
not all would be the same on what type of trader you are.

[henmark]

Most traders use Moving Average Convergence Divergence (MACD)^[1], Balance Volume (OBV)^[2], and Relative Strength Index (RSI)[3], as a basic indicators for trading, they help in determining entry and exit points, which can be the basis for placing buy and sell orders.

these indicators should not be separated from metrics such as results from the glassnode, volumes of withdrawals from platforms, news, and analysis of market psychology.
These metrics above are based on Bitcoin trading and a few altcoin pairs.
As for the rest of the altcoins, they are just speculations, relying on news more than technical analysis.

MACD has been a cornerstone for crypto and has been used the most by any sector. I mean it is of course used in other assets as well, stock world, forex and even gold at certain times (gold is a bit more slower so not really needed). However, crypto has used it a lot more and I believe that there must be some reason for that.

Moving average matters a lot because since we do not have any instinct value, that means we are just investing based on what we think it worths. It is basically what we "believe bitcoin should worth" when we buy and sell. So, that is why there is probably a bigger reliance towards MACD since that is a bit more related to crypto in that sort of way.

[DoublerHunter]

~snip~
1. MA
2. RSI
3. MACD
4. Common support and resistance line

Depending or varying on what time frame you are tending to snip out some positions since
not all would be the same on what type of trader you are.

^ These are very common but in addition to this, the average directional index (ADX) and Standard deviation also help traders to improve their trading skills. However, even how many indicators are don't used all of them at once, it makes you confused about this which lead you becomes losing your money.
Focus on one indicator that you think is good and has the potential to make money, use different time frames until your signal will accurately becomes an outcome.

[jossiel]

I stopped trading but when I was, I don't use any of those indicators until I've learned that there's a significant improvement if you really are going to follow an indicator for which others have been using.

The winning rate for your trades will certainly increase and the usual strategy that I see is the MA and RSI just as the others. It all lies on what strategy you're too familiar and comfortable as you win.

[Scripture]

Indicators are very vital for tradings, you can’t analyze without indicators and you can’t trade without analyzing so I think this is a must in order for you to become more profitable in trading.

I use MA, RSI, VOLUME, PRICE as my indicators, they are effective so far and I’m planning to use more combinations of indicators depends on my target timeline, having these kind of strategy can lessen your worries about your trades.

[every1bets]

I use candle sticks for my indicators.  For Bitcoin, we seem to be in a trading range from 38K -44K.  With the war in europe, I think we may go lower. If we break 38K, we may be in store for some pain (IMHO).

[palle11]

I use MA, RSI, VOLUME, PRICE as my indicators, they are effective so far and I’m planning to use more combinations of indicators depends on my target timeline, having these kind of strategy can lessen your worries about your trades.

To cluster your table with plenty indicators can confuse you in trading. Like the example of putting so much tools in your bag and you can't get hold of it when you need it. Moving average and RSI are good but you have to differentiate the two because they look alike. Price action is also to direct on the price level.

[sheenshane]

Always remember that indicators didn't give a signal when to execute trading which is the buy and sell, it only gives predictions in the market movement, how to follow the candlestick movement or how the recent price action was being moved.  Still, you're predicting the market which is what we know it's unpredictable so either what indicators that you've used it's useless if you don't know how to analyze the market.

That's right, they are very crucial to use and most of them can't use at the same, they should be used at once.

[Cookdata]

Just the 3 default is okay for me, the Moving average, volume and the Macd. You can switch between others but the 3 is just okay for  me to do simple trades with an external information like when they(pairs) had an upcoming events or listing, it makes scalping very easy with setting out plenty of indicators done by experts.
I have also noticed that some people go extra mile to do subscription without even understanding the indicators. In fact, they don't know that some this thing lag and before they give you any hint on the market, it will be late before you are supposed to open long or short and also when to close short or long.

[gabbie2010]

I use MA, RSI, VOLUME, PRICE as my indicators, they are effective so far and I’m planning to use more combinations of indicators depends on my target timeline, having these kind of strategy can lessen your worries about your trades.

To cluster your table with plenty indicators can confuse you in trading. Like the example of putting so much tools in your bag and you can't get hold of it when you need it. Moving average and RSI are good but you have to differentiate the two because they look alike. Price action is also to direct on the price level.

Honestly I had once packed my chart with so many indicators on my trading system thus really confusing and conflicting in making a trading decision, however I later deleted them, presently I study candlestick patterns coupled with EMA, KDJ and VOL indicators respectively on Binance chart this is a bit easy to monitor, EMA and KDJ is for trend direction of price, while I deployed VOL to determine how strong is the bulls or bears in the market, thus I need only to make my trading strategy SIMPLE and easy to understand by avoiding indicators conflicts.

[goaldigger]

Indicators are your best guide in trading, it gives you a path to take either to buy or to way for another confirmation before buying, this is very important and every trader should know how to use indicators.

1. MA
2. RSI
3. MACD
4. FIBONACCI

There are the common indicators I’ve been using every time I trade, not all the time since it will still depend on the trend of the coin/token you are analyzing and it will still depend if its necessary to use those indicators. Trading are more fun when you use indicators, it gives you a crystal picture of opportunities ahead.