If there’s a common piece of software that every trader is using, it’s probably TradingView. It’s a charting and analysis platform that helps its users see the bigger picture in terms of price action and market sentiment. You can browse through hundreds of public charts for free and see how other traders are interpreting the price moves. You will also get access to advanced indicators and get to learn from experienced traders by following their charts.
The blog is aimed at beginners and intermediate traders looking at improving their knowledge and understanding of high-level technical analysis concepts and how to apply them in practice. This TradingView Review is for everyone, and I’ll share some of my favorite features, point you towards some good resources for getting started, and introduce you to some of the community that surrounds this great platform.
TradingView At a Glance
Owners: Stan Bokov
Overall Rank: 80/100
TABLE OF CONTENTS
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TradingView Review: What is it?
Traders and investors examine financial assets using TradingView’s charting software and social network. They include stocks, currencies, forex, futures, bonds, and even cryptocurrency.
In their most basic form, TradingView charts provide a high-level assessment of an asset’s performance over time. The open, high, low, and closing prices of each candlestick are shown.
This social trading platform that allows users to customize charts and indicators was released in June 2012. With TradingView, users can follow other traders, publish their own charts and investment ideas, and even stream themselves analyzing charts live. It also includes a financial calendar for earnings updates, as well as a wealth of financial news and updates.
The TradingView platform can be accessed via the TradingView website or by downloading the TradingView desktop or mobile application (available on Android and iOS devices).
The Good, the Bad & the Ugly
Pro #1: A large number of interesting educational resources
Pro #2: Many markets and exchanges are supported.
Pro #3: Advanced security features are included in this systematic mobile app.
Pro #4: A fantastic collection of research tools.
Con #1: Not all customer assistance options are available.
Con #1: Some authors’ educational resources can be unreliable and cannot be supported by factual info.
Who is the TradingView for?
Long-term traders and investors frequently ignore technical analysis and may believe that tools like TradingView will be of no use to them. However, I believe it is still worthwhile to explore using it because:
Choosing a solid entry point for your investment will have a significant impact on your future results. Also, TradingView will help you determine the right stop-loss amounts for your investment based on your risk tolerance.
TradingView, in my opinion, is a great tool for both new and seasoned traders.
TradingView | Features and Tools
TradingView is your pretty sweet deal if you’re the type of trader who can’t get enough data and resources. TradingView can offer even the most seasoned trader something new with its wide range of indicators, tools, trading insights, and much more.
1. Charts and Indicators
TradingView’s charts appear simple when you first look at them. The free version allows you to open one chart per tab. For TradingView Premium, it allows you to open up to eight charts per tab. Those who join for the free subscription plan at least have the option of saving their charts per layout and selecting from twelve distinct chart kinds.
You can select the type of graph, time periods, indications, alerts, and financial data we wish to observe. These are the fundamental tools that we will use to study the graph.
As for the indicators, you can access ones created by the community and the underlying scripts, called the “pine script” that you can use to create your own indicators and alert systems. You can also browse through TradingView’s comprehensive scripts library, where you can view and download scripts that other users have created. The majority of available scripts are completely open-source, allowing you to use them freely and tweak programming as needed.
Using TradingView’s screeners to find your next investment opportunity is pretty simple. Market capitalization, price, exchange, volume, and even expert rating can all be used to sort and organize stocks. It offers individual screeners for both the forex and cryptocurrency markets, and there are dozens of other screening criteria accessible.
TradingView’s rating is also included in screeners. These ratings are calculated using a variety of technical indicators and are prominently displayed in the technical information section of individual stocks.
3. Drawing Tools
You can chart with more than 50 clever drawing tools regardless of the TradingView plan you have. Lines and trends, geometric shapes, patterns, and annotations are examples. From making text notes directly on your chart of choice to geometric forms and automated pattern charting, there’s something for everyone.
The stock market might fluctuate. TradingView assists you in better understanding the technical features of the markets, regardless of market direction.
3. Server-Side Alerts
Following a large number of assets, such as cryptocurrency, can be very stressful. All that matters is that we maintain track of all those degrees of support and resistance. We don’t want to lose out on a nice deal.
TradingView uses server-side alerts to solve this problem. We can use this function to set up price alerts on individual assets and receive notifications on any of their platforms when the current price reaches a certain threshold. You can choose from 12 distinct alert situations in total. You’ll get notified via SMS, Popups, webhooks, or email.
TradingView has a wonderful community, extended trading hours, and personalized scanning based on your trading tactics. Their stock screener allows you to scan the market according to your preferences.
Some of the most important features in TradingView’s Premium version involve the social media community, which is fantastic. Users can utilize the app from anywhere, and Premium subscribers gain access to website fields and invite-only trade indications.
Unfortunately, some technical indicators are unavailable, and traders who require them may need to invest in more expensive tools. The volume profile indicators are an intriguing feature for users and these are compatible with all paid plans. The maximum amount of indicators per chart is determined by your subscription version, from 3 to 25 indicators per chart.
TradingView | Support
TradingView’s customer service is a little lacking. TradingView’s platform chat system is now the only way to contact the company’s support team. Click the “Support” symbol on the left side of your home page to access chat support. Chat assistance is accessible 24 hours a day, 7 days a week to assist you with any concerns you may encounter. A detailed FAQ section is also available on the platform, which can help you find answers to some of the most often asked topics.
TradingView | Pricing
While the essential principles of TradingView are free to use, advanced users can choose from three upgrade plans: Pro, Pro+, and Premium.
The free TradingView Basic plan gives you restricted access to the majority of TradingView’s capabilities. You can only look at one chart at a time, and you can only set one alert. Starting with a free account will help you better grasp TradingView’s features and determine whether they’re ideal for you.
If you choose the Pro Plan, you’ll have more features, the option to establish up to ten server-side alerts, and an ad-free desktop experience. Monthly fees for Pro accounts are currently $14.95 (billed monthly).
Pro+ subscription comes with all of the benefits of a Pro account, plus the ability to define indicators and access chart data export capability. Monthly fees for Pro+ accounts are $29.95 (billed monthly).
Lastly, Premium memberships. It provides you access to all of TradingView’s features and tools. Premium plans come with all of the features of the Pro+ account package, plus the option to create up to 400 alerts, second-based intervals, never-expiring alerts, and more. Premium plans cost $59.95 per month.
TradingView | Overall Quality
Start with a TradingView Basic account, which allows you to try out the platform’s features for free. You can upgrade your account at any time if you like what you’re seeing.
TradingView is an excellent low-cost charting platform that is well worth the money. When it comes to free and basic charting functionality, there isn’t much competition. However, when compared to the market leader Trade Ideas, the stock screening capabilities are limited.
TradingView is an investor’s best buddy because it is comprehensive, packed with unique capabilities, and jam-packed with data. It is widely regarded as the best stock chart website available.
FINAL VERDICT: TradingView
Did you have a personal experience with Tradingview? Please add your experience below!
- large number of interesting educational resources
- Many markets and exchanges are supported
- Advanced security features are included in this system
- Not all customer assistance options are available
- Some authors' educational resources can be unreliable and cannot be supported by factual info