How to Use TradingView for Crypto Analysis with RSI Indicator

By /

Listen to this Post

Featured Image
Cryptocurrency trading requires technical analysis tools to forecast market movements. TradingView is a powerful platform for tracking crypto prices, and the Relative Strength Index (RSI) is a key indicator for predicting trends. Below is a step-by-step guide to setting up TradingView for crypto analysis using RSI.

Steps to Configure TradingView for Crypto Analysis

1. Load BTC as Base Coin

  • Go to CoinMarketCap to track crypto prices.
  • On TradingView, always set BTC as your base currency to compare other coins.

2. Add Additional Coins

  • Click the “+” button at the top-left corner.
  • Enter coin symbols (e.g., ETH/USDT, SOL/USDT).

3. Switch to Bar Charts

  • Hover over the chart and click Settings.
  • Change from Line to Bar for better visualization.

4. Add RSI Indicator

  • Click the “Indicators” button at the top.
  • Search for “RSI (Relative Strength Index)” and add it.
  • Press ESC to exit the menu.

5. Interpreting RSI for Market Trends

  • RSI values range from 0 to 100.
  • Above 70 = Overbought (possible downturn).
  • Below 30 = Oversold (possible uptrend).
  • If RSI diverges from price action, a reversal may occur.

You Should Know: Essential Crypto Trading Commands & Tools
– Linux Command to Fetch Crypto Prices (Using `curl` & jq) 

curl -s "https://api.coingecko.com/api/v3/simple/price?ids=bitcoin,ethereum&vs_currencies=usd" | jq

– Windows PowerShell Crypto Price Check 

Invoke-RestMethod -Uri "https://api.coingecko.com/api/v3/simple/price?ids=bitcoin&vs_currencies=usd" | ConvertTo-Json

– Python Script for RSI Calculation (Using `pandas` & numpy) 

import pandas as pd
import numpy as np

def calculate_rsi(data, window=14):
delta = data.diff()
gain = (delta.where(delta > 0, 0)).rolling(window=window).mean()
loss = (-delta.where(delta < 0, 0)).rolling(window=window).mean()
rs = gain / loss
rsi = 100 - (100 / (1 + rs))
return rsi

What Undercode Say

Technical analysis in crypto trading relies on indicators like RSI to predict market movements. Combining TradingView with scripting (Python, Bash, PowerShell) enhances real-time tracking. Always verify signals with multiple indicators before trading.

Expected Output:

  • A configured TradingView chart with BTC as the base currency and RSI applied.
  • Automated crypto price alerts via API scripts.
  • Better trade decisions using RSI divergence analysis.

Relevant URLs:

References:

Reported By: Https: – Hackers Feeds
Extra Hub: Undercode MoN
Basic Verification: Pass ✅

Join Our Cyber World:

💬 Whatsapp | 💬 Telegram

Related Posts: