Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: Glow on April 19, 2025, 10:45:40 PM
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Each and every technical analysis tool or indicator has its function and role to play in reading the charts effectively,me personally my go-to technical analysis tool is MACD combined with Bollinger bands because it helps me identify key points in charts and Bollinger bands gives clear entry and exit while MACD helps me identify when there is a divergence or convergence,but these tools are just there to help and are reliable but when you dont understand their reading it means the market is unstable and you stay away fod the time being.
Which of the options is or are your favourite and why???
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RSI is one of my favorite tool. It just let me understand what goes up must come down as well. I often just use it for the longer time frame because the RSI seem to be working well for those TF. Using it on hourly and 4hour chart may not work appropriately either in bull or bear season.
the +50 and -50 is a pivotal area for it to decide which direction the trend will go. Its best to look at RSI in different time frame.
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RSI is one of my favorite tool. It just let me understand what goes up must come down as well. I often just use it for the longer time frame because the RSI seem to be working well for those TF. Using it on hourly and 4hour chart may not work appropriately either in bull or bear season.
the +50 and -50 is a pivotal area for it to decide which direction the trend will go. Its best to look at RSI in different time frame.
Yeah I love RSI too because it indicates the overbought and oversold condition of the market, which inturn lets you know when price will go up or come down and what you said is correct it works better on higher timeframes.
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Which of the options is or are your favourite and why???
I have tried many among them but I noticed that they have almost similar results and they are not accurate at all if the market buy or sell more. You need a very good strategy also and to start trading with a very small amount of money. I mostly use BB and RSI most of the time. I used other indicators also but having many indicators on the chart at the same time will make the chart unreadable.
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Each and every technical analysis tool or indicator has its function and role to play in reading the charts effectively,me personally my go-to technical analysis tool is MACD combined with Bollinger bands because it helps me identify key points in charts and Bollinger bands gives clear entry and exit while MACD helps me identify when there is a divergence or convergence,but these tools are just there to help and are reliable but when you dont understand their reading it means the market is unstable and you stay away fod the time being.
Which of the options is or are your favourite and why???
I've looked into most of the popular and well-known indicators such as MA, MACD, RSI, Ichimoku..., and I'm currently using them in my market analysis. However, to be honest, I'm not a fan of their classic nature. Studies have shown that mechanically applying these indicators doesn't yield significantly better returns compared to long-term holding. They only show a few aspects of the market.
I've been teaching myself Pine Script to design my own indicators based on mathematics and my personal perspectives on TradingView. They work quite well and sometimes give better trading signals than the classic indicators, perhaps because I created them and clearly understand their pros and cons to use them more effectively.
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To be honest, each indicator serves a purpose. I am not sure which is the best, but they all work fine.
I use EMA 20/50/100/200 for determining trends, and I use two RSI the normal one and the stochastic RSI, for oversold signals and finding a good entry. These three are the best combination for me but take note don't just focus on these indicators because banks or big players out there know how retail traders do, so if you set an SL in an obvious area, they are going to take you out.
That's why you still need to do some more analysis and strategy to counter these whales; they are the ones who make huge price moves.
I sometimes check MACD to know momentum but MACD doesn't work well to me I stop using it I saw much falls signal on short time frame not good if you are trading in low time frame but its good for higher time frame.
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To be honest, each indicator serves a purpose. I am not sure which is the best, but they all work fine.
I use EMA 20/50/100/200 for determining trends, and I use two RSI the normal one and the stochastic RSI, for oversold signals and finding a good entry. These three are the best combination for me but take note don't just focus on these indicators because banks or big players out there know how retail traders do, so if you set an SL in an obvious area, they are going to take you out.
That's why you still need to do some more analysis and strategy to counter these whales; they are the ones who make huge price moves.
I sometimes check MACD to know momentum but MACD doesn't work well to me I stop using it I saw much falls signal on short time frame not good if you are trading in low time frame but its good for higher time frame.
Yeah because I use Bollinger bands for entry and exit and sometimes combine it with MACD I get adequate reading most of the time but when I use only MACD I get mostly false signals because I am a scalper and I use mostly smaller timeframe ,so for a smaller timeframe which one do I suggest.
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Yeah because I use Bollinger bands for entry and exit and sometimes combine it with MACD I get adequate reading most of the time but when I use only MACD I get mostly false signals because I am a scalper and I use mostly smaller timeframe ,so for a smaller timeframe which one do I suggest.
How exactly do you exit on Bollinger bands are you using the upper and lower bands? If oversold and overbought, are you going to exit?
I don't actually a scalper, but I am practicing myself in short time frames. Maybe intraday only one or two trades are fine on a daily basis.
I tried scalping many times, but I lost fast with no quality trades in a short time unless you analyze the bigger picture first. Before you trade in small time frame.
It seems BTC is spiking today there's a breakout and there's a rally on $86k there's a big liquidation at that area if the BTC price today broke that area, we might see $88k as major support.
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TO be honest, all strategy works you just have to learn how to apply it on the chart to meet your trading strategy, I was a fan of BB but that was when I still read chart from the exchange but wen I started using TV(tradingview) I use SMC with a little ICT concept to help read the chart
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Yeah because I use Bollinger bands for entry and exit and sometimes combine it with MACD I get adequate reading most of the time but when I use only MACD I get mostly false signals because I am a scalper and I use mostly smaller timeframe ,so for a smaller timeframe which one do I suggest.
How exactly do you exit on Bollinger bands are you using the upper and lower bands? If oversold and overbought, are you going to exit?
I don't actually a scalper, but I am practicing myself in short time frames. Maybe intraday only one or two trades are fine on a daily basis.
I tried scalping many times, but I lost fast with no quality trades in a short time unless you analyze the bigger picture first. Before you trade in small time frame.
It seems BTC is spiking today there's a breakout and there's a rally on $86k there's a big liquidation at that area if the BTC price today broke that area, we might see $88k as major support.
I usa the upper and lower band for exit and entry together with support and resistance depending on the direction of the market or the type of order am opening for instance when I want to open a buy or long position I will wait for the price to get to the lower band and then open an order then set my take profit at the upper band but that's after I am sure it's a bullish market from analyzing the 1hr timeframe.
Your were correct I was surprised this morning when I saw the BTC price at 87500. Wow that was really a nice move.
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Which of the options is or are your favourite and why???
I have tried many among them but I noticed that they have almost similar results and they are not accurate at all if the market buy or sell more. You need a very good strategy also and to start trading with a very small amount of money. I mostly use BB and RSI most of the time. I used other indicators also but having many indicators on the chart at the same time will make the chart unreadable.
Actually, your comment is very appropriate in this moment. We also know that there are many technical analysis tools are available in cryptocurrency market. Which can be improve our trading capacity. If we follow in this technical tools, i think that it will be very helpful for us. MADC and Bolling bands is the best technical analysis tools for me. Because when we want to improve our trading capacity, i think that it will be helpful for us.
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Which of the options is or are your favourite and why???
I have tried many among them but I noticed that they have almost similar results and they are not accurate at all if the market buy or sell more. You need a very good strategy also and to start trading with a very small amount of money. I mostly use BB and RSI most of the time. I used other indicators also but having many indicators on the chart at the same time will make the chart unreadable.
That's true having too many indicators will even confuse you the indicators are mainly there for you to cross check after using your desired strategy to assess the market trend in higher timeframe and the trend in the lower timeframe but the BB and RSI is all I use mostly but sometimes for confirmation I add MACD.
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Which of the options is or are your favourite and why???
I have tried many among them but I noticed that they have almost similar results and they are not accurate at all if the market buy or sell more. You need a very good strategy also and to start trading with a very small amount of money. I mostly use BB and RSI most of the time. I used other indicators also but having many indicators on the chart at the same time will make the chart unreadable.
That's true having too many indicators will even confuse you the indicators are mainly there for you to cross check after using your desired strategy to assess the market trend in higher timeframe and the trend in the lower timeframe but the BB and RSI is all I use mostly but sometimes for confirmation I add MACD.
Most likely because of too much analysis when they use a lot of indicators. They call it paralysis by analysis as they couldn't decide instead of what to do because some indicators says sell and the other says hold.
3 indicators can be enough for some of us which the tradingview seem to allow it. But then some traders are looking for indicators that would validate their previous analysis and when things contradicts, they look for another tool.
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Which of the options is or are your favourite and why???
I have tried many among them but I noticed that they have almost similar results and they are not accurate at all if the market buy or sell more. You need a very good strategy also and to start trading with a very small amount of money. I mostly use BB and RSI most of the time. I used other indicators also but having many indicators on the chart at the same time will make the chart unreadable.
That's true having too many indicators will even confuse you the indicators are mainly there for you to cross check after using your desired strategy to assess the market trend in higher timeframe and the trend in the lower timeframe but the BB and RSI is all I use mostly but sometimes for confirmation I add MACD.
Most likely because of too much analysis when they use a lot of indicators. They call it paralysis by analysis as they couldn't decide instead of what to do because some indicators says sell and the other says hold.
3 indicators can be enough for some of us which the tradingview seem to allow it. But then some traders are looking for indicators that would validate their previous analysis and when things contradicts, they look for another tool.
The main thing that is confusing in crypto market is that the market is overall dynamic and doesn't move in a single direction ,like the price movement when the market is bullish is quite different from when the market is bearish likewise when the market is almost breaking out up is different from downward breakout and when it's ranging, so you shouldn't expect the exact same thing from these indicators every single time and you should study two indicators to the T in the sense where in whatever direction the market is going you understand the signal it's giving, the indicators are ever going to give three signals which are to buy ,sell or wait so the choice is left for you and advisably everyone should choose wisely and trade safe.
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My favorite trading indicator is the bolinger bands and the volumes. Bolinger bands help me to actually understood a sharp entry and the exit position on short term price movements. It potentially identity the over bought and oversold conditions of a coin.
I think that bolinger band is a great tool for technical analysis even as some people has testify.
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My favorite trading indicator is the bolinger bands and the volumes. Bolinger bands help me to actually understood a sharp entry and the exit position on short term price movements. It potentially identity the over bought and oversold conditions of a coin.
I think that bolinger band is a great tool for technical analysis even as some people has testify.
Yeah finally 😄 I have someone with the same vision as me, the BB has been very helpful to me in my trading journey as a scalper and would encourage more people to study it and incorporate it into their trading analysis.