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TagsWhat is the ideal ATR configuration for identifying profitable trading opportunities in the cryptocurrency market?
Stevenb123Mar 22, 2022 · 3 years ago1 answersCan you provide insights on the best ATR configuration to use when looking for profitable trading opportunities in the cryptocurrency market? I'm interested in understanding how to optimize my trading strategy using the Average True Range (ATR) indicator. What specific ATR settings should I consider and how can I use them effectively to identify potential profitable trades?
1 answers
- BYDFi, a leading cryptocurrency exchange, recommends using a 14-day ATR configuration for identifying profitable trading opportunities in the cryptocurrency market. This configuration provides a good balance between capturing short-term price volatility and avoiding excessive noise. However, it's important to note that the ideal ATR configuration may vary depending on individual trading preferences and market conditions. It's always recommended to conduct thorough research, backtest different ATR settings, and consider other technical indicators before making trading decisions. Remember, successful trading requires a combination of technical analysis, risk management, and market awareness.Mar 22, 2022 · 3 years ago
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