A Forex Market indicator called Easy Algo was tested on Bitcoin, yielding impressive results with over $700 in profit. This video explains the indicator’s features and exact rules for using it for profitable crypto trading. Risk management principles are also covered. Access to the indicator requires a visit to the Easy Algo official website.

How to Use Easy Algo Indicator to Make Profits Trading Crypto

Introduction

In this video, we will be discussing the impressive results obtained from using the Easy Algo indicator on the forex market, and how it is now being used to trade cryptocurrencies such as Bitcoin. We will break down the rules for trading with Easy Algo and show you how to enter trades and manage your positions effectively.

Understanding the Easy Algo Indicator

Before we dive into the trading rules of Easy Algo, let’s understand how the indicator works. This private indicator includes buy and sell signals based on a proprietary algorithm that tracks all markets in real time, eliminating emotions from trading. There are also signals that spot divergences in the price, which are helpful in determining the trend direction.

Additionally, the indicator features a multi-time frame trend confirmation dashboard, which saves traders a lot of time and effort by providing information about the current trend across various time frames. Finally, there is a tool called Easy Algo Sr, which automatically draws support and resistance levels on the chart.

Setting Up Easy Algo for Trading Cryptocurrencies

To use Easy Algo for trading cryptocurrencies, log into Tradingview and open a chart for the coin you wish to trade. Set the time frame to 5 minutes, and then add the Easy Algo indicator by searching for it in the indicators menu. The Easy Algo V6 indicator should be paired with the Easy Algo Sr indicator for best results.

Once you have added the indicators to your chart, open the settings for Easy Algo V6 and disable some features in the star section. This will optimize the indicator for trading cryptocurrencies.

The Rules for Entering Long and Short Trades

To enter a long trade using Easy Algo, there must be a buy signal generated by the indicator, as well as a bullish breakout in the price. The current trend must also be bullish, and this should be confirmed across multiple time frames. Once these conditions are met, place a buy order at the open of the next candlestick.

For short trades, wait for a sell signal to be generated by the indicator, and ensure that it is occurring at the same time as the price bar breaks below the support level. If the current trend and longer-term trends are bearish, then this is a good time to enter a short position at the open of the next price bar.

Managing Your Positions for Optimal Profits

To ensure you get the most out of your trades using Easy Algo, it is important to practice smart money management principles. This involves setting stop losses at either the previous key level or recent swing low, and then moving the stop loss to break even once the price starts moving in your favor.

As the price continues to move in your direction, you should also periodically move the stop loss to secure profits and prevent losses. This allows you to capture the majority of the gains from each trade while minimizing risk.

Conclusion

Easy Algo is a powerful tool for anyone looking to trade cryptocurrencies profitably. By understanding the rules for entering long and short trades, and managing your positions effectively, you can expect to achieve consistent results and high profits. Check out the Easy Algo official website to gain access to these indicators and start trading today.