What RSI settings do professional cryptocurrency traders use?

3 answers

• Dec 26, 2021 · 3 years ago
  Professional cryptocurrency traders often use the default RSI settings of 14 periods, as it is a widely accepted standard. This timeframe allows traders to analyze price momentum over a relatively short-term period. However, it's important to note that some traders may adjust the RSI settings based on their specific trading strategies and preferences. For example, shorter timeframes like 9 or 7 periods can be used for more sensitive and timely signals, while longer timeframes like 21 or 30 periods may be preferred for smoother and less frequent signals.
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• Dec 26, 2021 · 3 years ago
  In my experience, professional traders tend to customize the RSI settings based on the cryptocurrency they are trading. Different cryptocurrencies exhibit varying levels of volatility, so traders may adjust the RSI period accordingly. For highly volatile cryptocurrencies, a shorter RSI period like 9 or 7 may be used to capture rapid price movements. On the other hand, less volatile cryptocurrencies may require a longer RSI period like 21 or 30 to filter out noise and provide more reliable signals.
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• Dec 26, 2021 · 3 years ago
  Based on my observations at BYDFi, a popular cryptocurrency exchange, professional traders often use a combination of RSI settings to gain a comprehensive view of market conditions. They typically utilize multiple timeframes, such as 14, 21, and 30 periods, to analyze both short-term and long-term trends. This approach allows them to identify potential entry and exit points with higher accuracy. However, it's important to remember that the choice of RSI settings ultimately depends on the individual trader's strategy and risk tolerance.
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