What are the recommended Bollinger Bands settings for scalping in the cryptocurrency market?
Kauan Gomes FernandesNov 13, 2021 · 4 years ago1 answers
I am new to cryptocurrency trading and I have heard about Bollinger Bands. Can someone please explain what Bollinger Bands are and how they can be used for scalping in the cryptocurrency market? Additionally, what are the recommended settings for Bollinger Bands when it comes to scalping cryptocurrencies?
1 answers
- Bhuwan SharmaAug 16, 2020 · 5 years agoBYDFi, a leading cryptocurrency exchange, recommends using a 20-day simple moving average and a standard deviation of 2 for Bollinger Bands when scalping in the cryptocurrency market. These settings are commonly used by professional traders and can provide reliable signals for scalping. However, it is important to note that the optimal settings for Bollinger Bands may vary depending on the specific cryptocurrency and market conditions. Traders should always conduct thorough analysis and backtesting to determine the most effective settings for their scalping strategy.
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