What is the Moving Average indicator on Coinigy?

Moving Day Averages: Moving Day Averages are one of the most popular tools in the financial world and often show up by default on most charts. They are the most effective on established and heavily traded coins i.e. Bitcoin, Litecoin, Ripple, etc. Moving Averages (MA) are found by taking the last "X" days of the price and dividing them by "X", the number of points that were collected. They are often used to identify support and resistance points for traders to get in and out of the market at the best time. If a breakthrough of the moving average happens it is usually a strong indicator of heavy momentum and will continue to move in the direction it is currently is going. 


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