Is there a reliable support and resistance indicator available on TradingView for trading cryptocurrencies?

3 answers

• Mannat JainNov 24, 2024 · a year ago
  Yes, there are several reliable support and resistance indicators available on TradingView for trading cryptocurrencies. One popular option is the Fibonacci retracement tool, which can help identify key levels of support and resistance based on the Fibonacci sequence. Another option is the Pivot Points indicator, which calculates potential support and resistance levels based on the previous day's high, low, and close prices. Both of these indicators have been widely used by traders and have shown to be effective in identifying important levels in cryptocurrency trading.
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• Egelund MurphyFeb 28, 2023 · 3 years ago
  Definitely! TradingView offers a wide range of support and resistance indicators that can be used for trading cryptocurrencies. One highly recommended indicator is the Volume Profile, which displays the volume traded at each price level. This can help identify areas of high buying or selling pressure, which often correspond to support and resistance levels. Additionally, the Moving Average indicator can also be useful in identifying dynamic support and resistance levels. By plotting the average price over a specific period of time, it can help smooth out price fluctuations and highlight key levels of support and resistance.
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• Sakshi PhaleDec 27, 2020 · 5 years ago
  Yes, there is a reliable support and resistance indicator available on TradingView for trading cryptocurrencies. BYDFi offers an advanced support and resistance indicator that has been specifically designed for cryptocurrency trading. It utilizes machine learning algorithms to analyze historical price data and identify key levels of support and resistance. This indicator has been extensively tested and has shown to be highly accurate in predicting price movements. It is a valuable tool for cryptocurrency traders looking to make informed trading decisions based on support and resistance levels.
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