Technical Analysis: Indicators and Where to Find Them on Binance
Hello Tron lovers and traders,
I've come with another unique post from the heart. I went through the recent posts on the community and saw that most were lingering around the same subject so I decided to talk about something different. We would be looking at various indicators used in technical analysis and how to change or use the indicators available to us on binance to ensure successful market analysis and trading. Let's have a look.
What Is Technical Analysis?
Technical Analysis is term used to signify a situation where one makes use of past market movements, trends and price changes to forecast the future trends. This is what traders use to predict future trends in the crypto market and although it looks easy, they employ numerous analysis before hoping on a trend to avoid making loss. These technical indicators are not immune to failures as the crypto market can be unpredictable from time to time but they ensure an increased success rate. Now one of the major tools they use for technical analysis are indicators.
What are Indicators?
These are the major technical analysis tools used by traders to predict future price movement for a particular cryptocurrency. There are different classes of indicators eg momentum indicators, volume indicators e.t.c. There are also numerous indicators like EMA or Bollinger bands indicator and one can use more than one indicator when performing analysis to ensure high efficiency and accuracy. It's through the candle sticks and indicators that people use to determine if a currency is going to be bearish or bullish so they know the best way to plan their buying and selling to make profit.
More Examples of Indicators
For experienced traders, you must have come across atleast half of the indicators in this list as they are arguably the most used I've seen. RSI, EMA and so on.
Bollinger Bands
Stochastic oscillator
Moving average convergence divergence (MACD)
Relative strength index (RSI)
Average Directional Index (ADI)
Fibonacci retracement
On-balance volume
Exponential Moving average (EMA)
How To Set A Particular Indicator on Binance
Enter the Binance app, go to markets at the bottom bar as indicated in the screenshot and you would be taken to another place where you select any currency of your choice. As you can see I chose steem/BTC pair.
It would take you to the currency's chart for a given time frame. At the bottom of the chart shown, you would see 7 indicators. The first three are the main ones of which you can only chose 1 out of the 3 while the remaining 4 indicators starting from volume can all be added as seen in the 2nd screenshot. As you can see amongst the first 3 I chose Moving Average and then I chose the last 4.
As traders, we are to make the proper analysis and research before jumping in to invest In a cryptocurrency. I hope I was able to extent a little knowledge on indicators and technical analysis. There are alot more indicators and other technical analysis tools but I chose to focus on this for today. Thanks for reading
[10% to @tron-fan-club]
Thanks a lot bro, I learned more about the indicators and how to use them
No prob man, all this is for the sake of both traders to be and those who trade but without binance. I recently learnt it too when I went exploring
Technical analysis indicators is very important when trading that why binance has them inbuilt in they chat to help traders analysis a specific coin either long term or short term. A great post thank you for sharing
Thanks for reading bruv. You know finding unique topics these days ain't really easy so I had to start thinking out the box. I'm looking forward to your next publication o wise man
Yea it true oya now dropping it tomorrow and it also about technical analysis
Nice!!! As your biggest fan, I will be the first to read
Oh wow...
I would like to learn about ichimoku cloud.
The king of all indicators
Thank you very much sir, I will work my way up there till I achieve this week's best
You wrote beautifully about indicators. Honestly, I have less idea about this, but I got some idea by looking at your post.
Yup man I was able to learn about this from an earlier research I did when I begun my trading journey. I'm glad you read it and I was able to share some knowledge with the fam
Thank you for sharing.
You have explained in a very beautiful way and your writings have become much easier to understand
I used the indicator to earn some steem a few days ago. It is very important for us. I always use the indicator in case of price rise You have presented the subject in a very beautiful way.
Thank you very much for reading bruv. I wonder how crypto trading would be like without indicators so I decided to make this post about it
You have discussed the indicator with us very nicely. And doing technical analysis is very important for trading
Thanks for reading man, I decided to take a break from the norm today. I'm glad y'all liked it. I am also looking forward to seeing a new publication from you
Great post. Technical analysis is really important so far as crypto is concerned. It helps in making good forecast of crypto assets which then generate good profits at the end. My favorite indicator is the Relative Strength Index (RSI).
That's nice, my favorite is MACD.. I use it all the time before testing others. Thank you for reading and for such kind words. I am looking forward to your next publication to see what you have in store for us
You have done a good anaysis and written a really nice post. Thank you for sharing.
All I do comes from the motivation you give me to keep writing. After I lost hope numerous times you even became more consistent