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Using moving averages on Poloniex cryptocurrency trading platform

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Today I’m going to show you how to use moving averages on the Poloniex cryptocurrency exchange If you haven’t watched my video about what moving averages are, click the card here or in the video description to go in depth about what a moving average is

Here you’ll see a chart for Monero vs Bitcoin Poloniex makes it very easy to add indicators like moving averages Just click the gear icon in the top left of the chart You have a choice of a simple moving average or exponential moving averages

Simple moving averages just do a normal arithmetic average of the previous data points Exponential moving averages weight the newest values higher than older values so it tends to be a bit more responsive to the current price Different trading strategies will use different types of moving averages Try them out for yourself to see the difference The period is how far back in time the moving average should look

The actual time length depends on what you have your periods set to For example, with a period of 2 hr on the chart, and the period of the moving average set to 11 periods, the moving average will look back 22 hours With a period of 4 hrs on the chart and the period of the moving average set to 11 periods, the moving average will look back 44 hours Click the checkbox and the moving average shows on the chart To learn more about what moving averages are, how they work, and how you can use them to know when to make trades (or not to make trades), check out the video linked to at the end of this one and in the video description

About the Author Dancake

Hey hey hey. It's Ville and welcome to my blog. I am a tech enthusiast and always looking for ways to generate new income streams. At the moment Bitcoin cloud mining is one of the most promising ones and that's why I created this website. Hope you like your stay. If you want a quick start guide about making passive income with cloud mining check out this guide.