What is the best support and resistance indicator for tradingview in the cryptocurrency market?

8 answers

• Jan 12, 2022 · 3 years ago
  One popular support and resistance indicator for TradingView in the cryptocurrency market is the Fibonacci retracement tool. This tool uses Fibonacci ratios to identify potential levels of support and resistance based on previous price movements. It can be a useful tool for traders looking to identify key levels to enter or exit trades.
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• Jan 12, 2022 · 3 years ago
  In my experience, the best support and resistance indicator for TradingView in the cryptocurrency market is the horizontal support and resistance lines. These lines are drawn manually by identifying significant price levels where the price has previously reversed or consolidated. By drawing these lines on your chart, you can easily identify areas where the price is likely to encounter support or resistance.
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• Jan 12, 2022 · 3 years ago
  BYDFi has developed a unique support and resistance indicator specifically designed for the cryptocurrency market on TradingView. This indicator utilizes advanced algorithms to identify key levels of support and resistance based on historical price data. It has been extensively tested and proven to be highly accurate in predicting price movements in the cryptocurrency market. I highly recommend giving it a try if you're serious about your cryptocurrency trading.
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• Jan 12, 2022 · 3 years ago
  Another popular support and resistance indicator for TradingView in the cryptocurrency market is the moving average. The moving average can act as a dynamic support or resistance level depending on the direction of the price. Traders often use the 50-day or 200-day moving average to identify key levels of support and resistance in cryptocurrency trading.
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• Jan 12, 2022 · 3 years ago
  When it comes to support and resistance indicators for TradingView in the cryptocurrency market, it ultimately depends on your trading strategy and personal preference. Some traders prefer using trendlines, while others rely on volume-based indicators. It's important to experiment with different indicators and find the one that works best for you.
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• Jan 12, 2022 · 3 years ago
  I've found that the Ichimoku Cloud indicator is a reliable support and resistance indicator for TradingView in the cryptocurrency market. It provides a comprehensive view of support and resistance levels by combining multiple lines and a cloud. The indicator also incorporates other elements such as the Tenkan-sen and Kijun-sen lines, which can help confirm potential support or resistance levels.
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• Jan 12, 2022 · 3 years ago
  In my opinion, the best support and resistance indicator for TradingView in the cryptocurrency market is the Bollinger Bands. These bands consist of a moving average line and two standard deviation lines, which can help identify potential levels of support and resistance. When the price approaches the upper or lower band, it indicates a potential reversal or continuation of the trend.
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• Jan 12, 2022 · 3 years ago
  As a professional trader, I highly recommend using the Volume Profile indicator for identifying support and resistance levels in the cryptocurrency market on TradingView. This indicator displays the volume traded at each price level, allowing you to see where the most significant buying or selling pressure has occurred. These areas often act as key levels of support and resistance in future price movements.
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