I'm developing my strategy for trend trading and I'm trying to figure out what are the best indicators to catch a trend. Currently now I'm using MFI, but I doubt that it is suitable for cryptocurrency trading, so i will appreciate it if you give me a hint. Thank you in advance!
I would not advise you to go for any indicator to determine the trend of the market. Usually, if you know the price action, and you are able to mark the high and low plus the support and resistance of the market, then it is very easy for you to identify the trend of the market.
In general, you should know that price never moves in a complete upward or downward direction in a straight line. If the price action is making
higher highs and
higher lows then we are in an Uptrend and if the price is making a
lower lows and l
ower highs, then we may call this as a market in an uptrend. Once you identify the trend, then it is important that you also know how to trade a trending market.