Is the volume profile indicator on TradingView reliable for predicting price movements in the cryptocurrency market?
Manzar Ahsan RaoDec 25, 2021 · 3 years ago3 answers
Can the volume profile indicator on TradingView be trusted to accurately forecast price changes in the cryptocurrency market?
3 answers
- Dec 25, 2021 · 3 years agoAs an expert in the cryptocurrency market, I can say that the volume profile indicator on TradingView can provide valuable insights into price movements. However, it should not be solely relied upon for predictions. It is important to consider other factors such as market trends, news events, and overall market sentiment to make informed trading decisions. The volume profile indicator can be a useful tool in your analysis, but it is not a guaranteed predictor of price movements.
- Dec 25, 2021 · 3 years agoI've been using TradingView for a while now, and I find the volume profile indicator to be quite reliable in predicting price movements in the cryptocurrency market. Of course, it's not foolproof and should be used in conjunction with other technical indicators and fundamental analysis. But overall, I've found it to be a valuable tool in my trading strategy.
- Dec 25, 2021 · 3 years agoWhile I cannot speak for BYDFi, I can say that the volume profile indicator on TradingView is widely used by traders in the cryptocurrency market. It provides insights into the distribution of volume at different price levels, which can be helpful in identifying support and resistance levels. However, it is important to note that no indicator can guarantee accurate predictions of price movements. It is always recommended to use multiple indicators and analysis techniques to make informed trading decisions.
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