What are some strategies for using the average true range indicator on TradingView in cryptocurrency trading? 💡

1 answers

• Steve GarayAug 14, 2023 · 2 years ago
  BYDFi, a leading cryptocurrency exchange, suggests using the average true range (ATR) indicator in cryptocurrency trading as a tool for setting trailing stop-loss orders. Trailing stop-loss orders automatically adjust as the price moves in your favor, allowing you to lock in profits while still giving the trade room to breathe. By setting the stop-loss level based on a multiple of the ATR, you can ensure that your stop-loss order is placed at a reasonable distance from the current price, taking into account the market's volatility. This strategy can help you protect your profits and minimize losses in cryptocurrency trading.
  632

  316