Bitcoin has continued lower, the macd has made higher highs. There is little need for more than one oscillator, breadth or volume indicator. (For additional reading, check out: Keep It Simple and Trade With the Trend.).
Can the indicator be used to trigger a trade, or does it just alert you to a potential trade (good timing or poor timing)? Therefore, it's effectiveness or lack thereof is has nothing to do with intraday trading versus daily charts. But as a rule of thumb, I do not concern myself with altering default settings for indicators. For example, the price is trending higher, but it is losing momentum. #1 - macd Relative Vigor Index Why the RVI? Day, trading with Indicators or No Indicators, indicators are just manipulations of price data or volume data, therefore many day traders don't use indicators at all. Chapter 8: Using macd to Forecast Major Trend Changes Whatever time frame you use, you will want to take it up 3 levels to zoom out far enough to see the larger trends. In a strong uptrend, the price will often reach 70 and beyond for sustained periods, and downtrends can stay at 30 or below for a long time. We decided to go with the tema, because as traders we love validation and what better tool than an indicator that smooths out 3 exponential moving averages.