How To Use Advanced Technical Analysis In Automated Crypto Trading

Crypto

How To Use Advanced Technical Analysis In Automated Crypto Trading

The volatile year that crypto markets have had so far is making waves in the world of automated crypto trading. Many once-popular solutions have become outdated lately, sending crypto traders searching for new computerized tools to upgrade their trading game.

In this article, we‘ll explore one of the best ways crypto traders can gain this much-needed extra edge. Let’s explore the unique concept of automated cryptocurrency trading with advanced technical analysis. This information will certainly help you reduce losses and secure more profit in crypto trading.

What is Technical Analysis？

Technical analysis is based on the idea that the price of cryptos, like most financial assets, tends to move cyclically. We find repetitive chart patterns in technical analysis and identify the best way to capitalize on them.

Technical analysis has constantly reinvented itself since the 18th century, discovering new ways to make more accurate predictions. Today, there are many different approaches to this art form. They include the elementary technical indicators to gauge momentum, like moving averages and standard deviations.

The more complex indicators help identify overbought and oversold territories, like MACD and RSI. Its up to each trader to decide which theory they find most suitable for the cryptos they want to trade.

Best Crypto Bots for Trading with Advanced Technical Analysis

Many crypto bots are available today that can follow simple instructions and act upon fundamental triggers. It makes them incapable of supporting more advanced trading strategies.

Any crypto trading bot on our list below is famous for combining the best of both worlds. They come with advanced analytics and the power of automation.

TradingView Bots

As its name suggests, this crypto autotrader is a unique solution. It offers seamless integration between the famous TradingView platform and your chosen crypto exchanges.

TradingView, for those unfamiliar, is the most popular platform today for conducting advanced technical analysis. It has more than 10,000 drawing tools, technical indicators, and trading strategies. Thus, it offers traders unparalleled options for designing complex, multi-layered trading strategies.

In addition to fully controlling the execution of trading strategies, TradingView bots come with various built-in features. Back-testing, demo trading, and other advanced settings are some of those cutting-edge features. They help traders to optimize their strategy further and improve their overall results.

Signals Bots

Signal bots are also great candidates for crypto traders who lack the time, knowledge, or expertise to conduct technical analysis.

Instead of designing your advanced trading strategies, signals trading allows you to simply copy the trades and positions of experts. You can exploit their expertise to your advantage. To do so, you must find a few trading experts to follow. So, sign up for the experts respective signal channels, and connect those channels to their own signals bot.

Once the bot connects to the signals channels and the crypto exchanges, you can sit back and let it take care of the rest. This setup allows crypto traders to trade like pros as easily.

Final Words

Combining advanced technical analysis with advanced automation is one of the most promising ways to generate consistent income through crypto trading.

As the crypto world continues to grow and evolve, trading tools like Signals Bots and TradingView bots are expected to outperform most of their competition. Traders who want to build their financial future should look closely at these promising trading solutions.