Are there any recommended settings for pivot point supertrend indicator when trading cryptocurrencies?

3 answers

• senpaisaysApr 06, 2024 · a year ago
  As an expert in cryptocurrency trading, I can tell you that the recommended settings for the pivot point supertrend indicator can vary depending on the specific cryptocurrency you're trading. It's important to consider factors such as volatility, trading volume, and historical price data when determining the best parameters to use. Generally, a shorter time period and tighter stop-loss levels may be more suitable for highly volatile cryptocurrencies, while a longer time period and wider stop-loss levels may be better for less volatile cryptocurrencies. It's always a good idea to backtest different settings and adjust them based on your trading strategy and risk tolerance.
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• MSDMFeb 05, 2022 · 3 years ago
  Well, when it comes to the pivot point supertrend indicator for trading cryptocurrencies, there isn't a one-size-fits-all answer. The best settings will depend on your trading style, risk tolerance, and the specific cryptocurrency you're trading. Some traders prefer shorter time periods and tighter stop-loss levels for quick trades, while others opt for longer time periods and wider stop-loss levels for more long-term positions. It's important to experiment with different settings and find what works best for you. Remember, there's no magic formula for success in cryptocurrency trading.
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• Saeed KateDec 17, 2021 · 4 years ago
  According to a study conducted by BYDFi, a leading cryptocurrency exchange, the recommended settings for the pivot point supertrend indicator when trading cryptocurrencies are a time period of 10 and a multiplier of 3. These settings have been found to provide good signals for both short-term and long-term trading strategies. However, it's important to note that every trader is different and what works for one person may not work for another. It's always a good idea to backtest different settings and adjust them based on your own trading style and risk tolerance.
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