Trade Bitcoin Trading

BTCUSD Trend Indicators

Pivot Points are used by cryptocurrency traders to find support & resistance areas based on the previous day's bitcoin price action.

This btcusd indicator is a very helpful and useful tool which uses the previous bars' highs, lows & closings to project support & resistance levels for future bars.

This btcusd indicator provides an idea of where key support and resistance should be. Place the pivot points on your crypto charts and the bitcoin price will bounce off one of these technical levels. These levels are used by cryptocurrency traders to figure out market tops, market bottoms or bitcoin trend reversals.

  • Daily pivots points are calculated from previous trading day's high, low, close

This btcusd indicator is displayed and shown below

How to Use Pivot Points in Bitcoin - BTCUSD Trend Indicators

Analysis in Bitcoin Trading

The center pivot point itself is the primary level, which is used to figure out the market trend

The other support & resistance levels are also crucial in calculating levels that can generate substantial market moves.

This btcusd indicator can be used in 2 ways

The first way is for determining overall Bitcoin trend: if the pivot point is broken in an upward movement, then the btcusd trading market is bullish, and vice versa. However, pivot levels are short term bitcoin trend indicators, helpful only for one day until they need to be recalculated.

The second method is to use these points to enter and exit the btcusd trading markets. This btcusd indicator is a helpful and useful tool that can be used in calculating the areas that are likely to cause bitcoin price movement.

These points and levels should be used in combination with other forms of trading analysis such as Moving averages, MACD and stochastic oscillator indicator.

This btcusd indicator can be used in many various ways. Here are a couple of the most often methods for using them.

Bitcoin Trend Direction: Combined with other trading analysis methods such as oversold/overbought oscillators indicators, volatility measurements, the central point might be helpful and useful in figuring out the overall trending direction of the price. Trades are only opened in direction of Bitcoin trend. Buy signal occurs only when the btcusd market is above the center pivot point & sell cryptocurrency signal occur only when the btcusd trading market is below the center pivot point.

Bitcoin Price Breakouts: A bullish signal occurs when the btcusd trading market breaks up through the center pivot point or one of the resistances (generally Resistance Area 1). A bearish signal occurs when the btcusd trading market breaks down through the center point or one of the supports (often Support Area 1).

Bitcoin Trend Reversals:

  • A buy cryptocurrency signal occurs and happens when the bitcoin price moves towards a support zone, gets very near to this point, touches this point, or moves only slightly/a little through it, and then reverses and moves back in the opposite market direction.

  • A sell cryptocurrency signal happens when the bitcoin price moves towards a resistance level, gets very near to this point, touches this point, or only moves slightly/a little through it, and then reverses and moves back in the opposite trend direction.

Stop Loss &/or Limit Profit Values Determined by Support/Resistance: This btcusd indicator might be potentially helpful and useful in figuring out suitable stoploss order &/or limit profit placements. For example illustration, if trading a long break out above the Resistance 1 it may be practical to position a stop loss.

Combining Together with MA(Moving Average) Cross over System

A good indicator to combine and trade reversal bitcoin trading signals is the moving average crossover which can be used to confirm the direction of a reversal bitcoin signal.

An investor can then open an order once these 2 indicators give a trading signal in same direction.

MA ==22==CrossoverCross-over Method with Pivot Points Crypto Indicator - Pivot Points Levels in BTCUSD Described

MA Cross over Strategy Method

Moving Average(MA) crossover method that can be combined with this technical indicator to come up with a trading system for generating buy & sell bitcoin signals.

To Download The Pivot Points Indicator:

https://c.mql5.com/21/9/pro4x_pivot_lines.mq4

Once you download it open it with MQ4 Language Editor, Then Compile it by pressing the Compile Button and it will be added to your MT4.

Note: Once you as a trader add it to your MetaTrader 4, trading indicator has extra additional lines marked MidPoints, to remove these additional lines open the MQL4 Language MetaEditor(short cut keyboard key - press F4), & change line 16 from:

Extern bool mid-pivots = true:

To

Extern bool mid-pivots = false:

Then Press Compile again, and it'll then be shown as exactly shown on this web site.

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