Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?
Indicators are nothing more than tools, there is not one that is more effective when it comes to this market, what you need to do is to understand when to use the most appropriate tool for the job, for example it is a mistake to use a hammer when you need to use a screwdriver, moving averages are great when the market is trending, the direction of the market does not matter, as long as there is a big trend you could use those indicators to make money, but when the market is moving in a tight range I prefer to use oscillators instead.
I do agree they are just tools ... they are more like signs ... it's like when you see dark clouds outside (1 sign) and the temperature is going down (sign 2) and there is a cool breeze (sign 3) => it'll most probably rain soon, I'd better bring an umbrella.
So it's like with stochastics, if the stochastics show an oversold for a longer period of time, I'll try to look at the EMA to see when the trend may have run out of fuel. The problem with crypto is that it's so hype heavy. That's why I am asking some tips from experienced TA crypto traders.