Based on pre-determined criteria, trading signals can indicate conditions when people should buy or sell assets in the market. Mostly based on technical indicators, the signals, if properly created, can lead to a significant profit generation or mitigating losses in the crypto industry. OnePunch ALGO is the best crypto trading signals plugin that any trader should have.
Cryptocurrencies are infamous for their price fluctuations and having a good input on when to buy or sell can make all the difference in capturing the upward trend in value and at the same time, have the opportunity to sell cryptos when the market will take a downtrend to shed value.
How to Use OnePunch Algo
OnePunch Algo is a little plugin that can be used with TradingView to get the edge you need by leveraging its best crypto trading signals. The plugin works will with the candlestick graphs and has different indications on when to execute a trade.
To get the advantage, sign up on OnePunch here. After registration, you can simply add the plugins in the cart and checkout. Don’t forget to mention your username when downloading to link it with your account. In the plugin, head over to the charts and then tap on indicators. From here, you can use the OnePunch Algo Hard BUY/SELL and Date Range and Alerts on OnePunch Algo Study indicators.
The plugin basically gives two kinds of indicators in candlestick graphs, buy and sell:
Hard Buy: The indicator will create a green outline candlestick with white interior after a red candle.
Soft Buy: The yellow candle with a green outline, indicating a time for buying for a high volatile asset.
Hard Sell: The first yellow candle with a red outline after a red outlined candle means it is time for a hard sell.
Soft Sell: It is indicated by a completely red candle that follows a yellow one with a green outline.
Momentum Buying: Following an event that is in support of the asset, rising yellow candlesticks with green outline means the momentum is building up for rise in value.
Momentum Selling: A red outlined or a completely red candle after increasing value means the momentum is over and price will retract. A perfect time to sell and pocket profits.
Ensuring OnePunch Algo is Effective
The effectiveness of the plugin lies in the trader matching different time frames of the candlestick graph according to their trading strategy.
For day traders, it is best to use the plugin in conjunction with small time frames, usually in the minutes range, from 1 minute up to half an hour. Traders who are looking for a longer holding can set the time frames in increments of 30 minutes, 1, 2 and 4 hours. In case you are a long-term trader, we suggest that you set your candlesticks to represent anywhere from 4 hours to up to a month.
Use the OnePunch Algo Plugin today with candlestick graphs as a supplement to your trading strategies and benefit from the signals to buy and sell cryptocurrencies.