What are the best CCI settings for day trading cryptocurrencies?
Udit MauryaDec 27, 2021 · 3 years ago3 answers
I'm new to day trading cryptocurrencies and I've heard about the CCI indicator. Can someone please explain what CCI settings are and how they can be used for day trading cryptocurrencies? I'm particularly interested in knowing the best CCI settings that experienced traders use for day trading cryptocurrencies. Any insights would be greatly appreciated!
3 answers
- Dec 27, 2021 · 3 years agoThe best CCI settings for day trading cryptocurrencies can vary depending on the trader's strategy and the specific cryptocurrency being traded. However, a commonly used setting is a period of 14. This means that the CCI indicator will calculate its values based on the last 14 periods of price data. It's important to note that the CCI indicator is just one tool among many that traders use, and it should be used in conjunction with other indicators and analysis techniques to make informed trading decisions.
- Dec 27, 2021 · 3 years agoWhen it comes to day trading cryptocurrencies, there is no one-size-fits-all answer to the best CCI settings. It's important to experiment with different settings and find what works best for your trading style. Some traders may prefer shorter periods, such as 9 or 10, while others may find longer periods, such as 20 or 30, more effective. Ultimately, the best CCI settings will depend on your individual preferences and the specific cryptocurrency market conditions you are trading in.
- Dec 27, 2021 · 3 years agoBYDFi, a leading cryptocurrency exchange, recommends using a CCI setting of 20 for day trading cryptocurrencies. This setting has been found to provide a good balance between sensitivity and reliability. However, it's important to note that the best CCI settings can vary depending on the specific trading strategy and market conditions. It's always a good idea to backtest different settings and analyze the results before implementing them in live trading.
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