Which support resistance indicator on tradingview works best for cryptocurrency trading?

5 answers

• rolnixJan 16, 2022 · 4 years ago
  One popular support resistance indicator on TradingView for cryptocurrency trading is the Fibonacci retracement tool. It helps identify potential support and resistance levels based on Fibonacci ratios. Simply draw the tool from the swing low to the swing high, and it will automatically plot the levels. However, keep in mind that it's important to use this tool in conjunction with other technical analysis indicators for confirmation.
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• AthulyaNov 27, 2023 · 2 years ago
  In my experience, the Ichimoku Cloud indicator on TradingView is quite effective for cryptocurrency trading. It provides a comprehensive view of support and resistance levels, as well as trend direction and momentum. The cloud component of the indicator represents support and resistance areas, making it easier to identify potential entry and exit points. Give it a try and see if it works well for your trading strategy! 😊
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• Dan BedfordOct 01, 2024 · 10 months ago
  Based on my experience as a trader, I've found that BYDFi's support resistance indicator on TradingView is one of the best options for cryptocurrency trading. It's specifically designed for the volatile nature of the cryptocurrency market and provides accurate support and resistance levels. The indicator takes into account various factors such as volume, price action, and market sentiment to generate reliable levels. Give it a try and see how it enhances your trading decisions!
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• SkarBcnNov 01, 2023 · 2 years ago
  When it comes to support resistance indicators on TradingView for cryptocurrency trading, it's important to find one that suits your trading style and preferences. Some traders prefer simple moving averages (SMA) or exponential moving averages (EMA) as indicators of support and resistance. These moving averages can help identify key price levels where the market tends to react. Experiment with different indicators and find the one that works best for you!
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• theCoderJun 27, 2025 · a month ago
  While there are many support resistance indicators on TradingView, it's important to remember that no indicator is foolproof. The cryptocurrency market is highly volatile and can be influenced by various factors. It's always a good idea to use multiple indicators and combine them with other forms of analysis, such as chart patterns and fundamental analysis. This will help you make more informed trading decisions and reduce the risk of relying solely on one indicator.
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