TradingView Review
TradingView is an excellent charting tool for investors and traders of all levels. It also features a social network that allows users to share ideas and create custom scripts to enhance charts.
It is easy to analyze historical asset prices and volume with a commercial data feed. We can also access company fundamentals data, which allows us to filter through them and find companies that meet our criteria.
TradingView
TradingView is an excellent technical analysis tool that can be used by novice and experienced traders and investors. It's reliable, thorough, and covers most of your trading needs. As a result, it is a great investment, despite the issues mentioned below.
Pros
- Superior HTML5 charting system
- Cross-platform (website, iOS, Android)
- Server-side alerting system
- Screeners
- Scripts
- It supports a wide range of exchanges and markets
- Many asset classes supported
- Backtesting trading strategies
- Pricing
Cons
- Some authors are not qualified, and some have misleading ideas.
- Low-quality profiling of certain asset classes, such as ETFs, is possible
- Trustpilot: Customer support perceptions
Charting can seem intimidating. I was initially overwhelmed when I started to look at charts. It took me some time to get my head around the various parts and learn how to use them. Nevertheless, I needed something to get me started and grow my skills. TradingView was exactly as that.
Who is TradingView for?
TradingView is a great tool for novice and experienced traders. It supports many asset classes, including stocks and crypto.
TradingView might not be useful to long-term investors who tend to ignore technical analysis. It's worth considering, however, as you might be able to benefit from some technical analysis.
- It is important to choose a good point of entry for your investment. This can make a big difference in your future returns.
- You should choose appropriate stop-loss amounts to protect your investment according to your risk appetite.
- To ensure you aren't investing in a company experiencing significant declines over the years, it's important to understand the long-term trends for each asset you consider buying.
These 3 points will help you become a better investor and avoid common mistakes.
What do I get with TradingView?
TradingView has many features. TradingView is packed with features. I have highlighted only the best, but you can find more information on their website.
Charting
This is where you'll spend the majority of your time. TradingView's charts appear simple at first glance. This is not a mistake. The initial graph will only give you a brief overview after entering a ticker or asset name into the search bar. To access all features, you must click the "Full-featured Chart" button.
This section has a lot of information. The default graph is a candle's graph. The default graph shows the trading volume at its bottom. However, you can add additional indicators to it.
While the free plan allows you to add one indicator, the other plans add more. To learn more, visit their pricing.
The top allows us to select the type of graph that we wish to see. We can also choose the time intervals, indicators, and alerts we would like and financial data. These are the essential tools to help us analyze the graph. First, however, I want to emphasize the functionality of their indicators. You can access the many built-in indicators and the scripts that underlie them. This is a great way for traders to see how others have created their indicators and what they can use.
Go back to the image above. You will find tools that you can use to improve a graph by adding annotations. This could be a trendline, a text note, or a Fibonacci trace, among others. There are many useful annotations that you can use depending on your familiarity with them.
You can access and create a watchlist of assets and set up alerts. You can also see real-time information on the tickers and an overview of their technical analysis and fundamentals.
Finally, we will find the bottom to access the stock screener and test trading strategies. We can also connect our broker account to TradingView to purchase/sell assets.
Sometimes we need to view multiple charts at once. This could be because we need to compare charts from different assets or look at different time frames.
TradingView limits the number of tabs that can be open. This makes it difficult to have separate tabs. TradingView allows you to have up to eight charts on a single split-screen. This might not work if you have a small screen, but it can be very useful to view multiple charts simultaneously if you have an external monitor large enough.
Although it took me some time to find this feature, it is worth it.
Screeners
It is not difficult to know some stocks and cryptocurrencies. TradingView allows us to search for these assets manually, but ultimately, we need a tool that can filter through the many thousands of assets available based on our criteria. Screeners are the ones who do this.
TradingView has three screeners: forex, stocks, and cryptos. In addition, a stock filter allows us to select ETFs over common and preferred stocks. This is something that not all screeners allow.
There are many filtering options. The country is the top-level filter, impacting the exchanges we use. Some filters use technical indicators and traditional filters such as market capitalization. For example, if we are looking for a sign that there is a rebound, then we could filter stocks using an oversold RSI indicator.
TradingView's rating is also included in screeners. It can range from strong sell to strongly buy. These ratings are based on several technical indicators. They are prominently displayed in the technical details section for individual stocks. You can find more information in the technical analysis section.
We can also select from dozens to dozens of column types, which enhances the data with almost all required information. Finally, you can either use their table interface or download the screener data in a CSV.
Overall, I find screeners very powerful, especially when combined with the chart view for quick accessibility.
Server-Side Alerts
Now you have a lot of assets to follow, such as stocks. This is great, but it can also be stressful. How can we keep track of all the support and resistance levels? What happens if we miss a great buy opportunity?
TradingView addresses this problem with server-side notifications. This feature allows us to set up price alerts for individual assets and be notified via any platform when the price reaches a certain amount.
Each alert can be configured in several ways. You can:
- You can set up either recurring or on-off alerts.
- Select a price range or a percentage move.
- You can set up a webhook to have an external application respond, but this may require some development.
Alerts are very useful, especially when identifying specific entry points or exit points.
Be aware that not all plans allow you to set up unlimited alerts.
Ideas and community
Have you ever felt like you wanted to confirm your assumptions with another expert? You can also check what other people are using for their technical analysis.
Learning from others is the best way to grow. TradingView's Ideas feature allows us to do this. This feature allows us to share our ideas with other traders and receive feedback. You can also learn from the ideas of other investors and traders. You can learn from mentors if their ideas are consistently working out as they expected.
This was crucial when I first started trading. Although I did some basic analysis and read books, I could not see many nuances, making my trades less profitable. Therefore, it was crucial to understand the practical aspects of trading and learn from others. To learn, I needed to have a network of traders.
TradingView ideas can also be used for technical analysis. You can create ideas about risk management, trading plans, and short/long position, as well as other topics. Every asset has top authors and top ideas, selecting the right people to follow to get the best content.
This tool is great, but it also has its limitations. It's wonderful to connect with millions of investors and traders and learn from their ideas and conversations. On the other hand, curation can be a bit slow, so that you might encounter some trolls.
TradingView needs to improve this aspect. Nevertheless, it can be a powerful tool that allows people to learn how technical analysis works in their favor. Although I've been able to ignore the trolls and other users who actively mislead me with their ideas so far, it took some time to learn how to distinguish between simple ideas and ones that are not worth investigating.
Scripts
Do you feel that the default indicators don't suffice for you? Then, this feature is for your needs. TradingView has its scripting language called Pine Script that allows us to create custom indicators and plot them in our charts.
TradingView is all about the social side of trading. You can share your custom-built indicator with the community to get feedback. You can see the community-created indicators when you look for them on the fully-featured chart page.
I have not tested this feature, but I have used indicators custom-built by other traders.
Markets
TradingView gives us access to market data for stocks, commodities, forex, and CFDs. We also have access to information on cryptocurrencies like bitcoin. The majority of major indices are covered. There are more than 50+ exchanges and data sources that we can use to segment into our periods as required. TradingView provides investors with fundamental and economic data.
Broker Integrations
TradingView is not a trading platform. TradingView supports a variety of brokers, which you can connect to execute buy/sell orders. However, if your broker does not support the platform, you may not be able to trade live on it.
The following brokers are in effect as of September 2021:
- TradeStation
- OANDA
- FOREXcom
- FXCM
- Alpaca
- Gemini
- AMP
- CQG FCMs
- iBroker
- Saxo Group
- Tradovate
- HitBTC
- WH Selfinvest
- Alor
- IronBeam
- Tiger Brokers
- Capitalcom
- Currencycom
- Chaka
- Tickmill
- Global Prime.
Fundamentals
TradingView is a more technical-oriented tool, including data and company fundamentals features.
The data provides insight into the performance of companies beyond their stock price.
You can also plot fundamental data on any chart. This allows investors to compare financial data with stock prices and analyze. For example, this means that it is possible to see the correlation between metrics such as revenue and stock prices in a chart.
Technical Indicator Gauge
TradingView's core offering is technical analysis. They keep track of multiple oscillators and moving averages for each ticker. This, along with the timeframes, allows them to offer a quick overview of each company's stock prices.
The asset ratings can then be displayed in real-time for the specified periods. These ratings include Strong Sell, Sell Neutral, Buy, Strong Buy, and Neutral.
They employ several moving averages, both exponential and simple, and oscillators like Relative Strength Index, MACD, Stochastic %K, and others.
TradingView's Competitors
There are many competitors charting tools available, most likely starting with the ones provided by your broker. Not all charting tools can be used equally.
The majority of competitors fall under one of two categories: web-based and application-based. Because their pricing models and feature sets differ greatly, I've divided them into two to make it easier for you to see the differences.
TradingView Pricing
TradingView's basic features are available for free, but there are three options to upgrade: Pro, Pro+, and Premium.
It is great that they offer a free version. This allows users to see the potential benefits of their product. However, it's not a complete tool, and it wouldn't work for serious trading.
There are two types of pro plans: Pro or Pro+. There are two main differences between them: the number of items you can use. For example, TradingView Pro+ allows you to use TradingView on more devices and saves more charts layouts. You can also use more indicators per chart, get more alerts, and use more indicators.
The Premium plan also includes everything. For example, you can have up to 25 indicators per chart and as many as eight charts in one view. There are also 400 server-side alerts and second-based intervals.
The annual fee is less than the monthly, which is fairly standard. Additionally, both pro+ and pro+ seem reasonable given the tool's capabilities.
TradingView Review - Bottom Line
TradingView is an indispensable tool in my toolbox. Unfortunately, my broker doesn't support it, so I don't trade through it. However, its superior features allow me to perform my analysis before placing orders on my broker website. It's reliable, thorough, and provides all the information I need daily when trading.
FAQs
What is the cost of TradingView?
TradingView offers four pricing options. First, TradingView offers a free version. This allows users to see the potential benefits of their product. However, it is very limited, and I would not use it for serious trading. The Pro plan is $150 per year, while pro+ is less than $300, and premium plans are less than $600 each.
TradingView is free?
TradingView offers a free plan that allows users to explore the platform and learn more about its capabilities. However, the free version is insufficient for technical analysis and should not rely on.
What is TradingView?
TradingView is an excellent charting tool for investors and traders of all levels. It also has a social network that allows people to share scripts and create topic-based chats to discuss their opinions.
It is easy to analyze historical asset prices and volume with a commercial data feed. We can also access company fundamentals data, which allows us to filter through them and find companies that meet our criteria.
Who is TradingView for
TradingView is an excellent tool for novice and experienced traders. It is easy to use, even for beginners in technical analysis.
How do I get TradingView Pro free of charge?
Register with FXCM to receive TradingView Pro free of charge for a year.
TradingView: What are the benefits?
TradingView's most important features are:
- A powerful charting system
- A comprehensive screener of stocks and cryptocurrencies
- Server-slide alerts to be notified about price changes
- A strong community that shares trading ideas and invests in stocks
- Custom scripts for creating custom indicators
- Integration of more than ten brokers by broker
- Access to many markets around the globe
How does TradingView compare to other tools?
TradingView is the most powerful tool when compared to application-based competitors. It's also one of the most popular tools compared to web-based tools.
TradingView is available in real-time.
TradingView gives you direct access to all major stock and currency exchanges, as well as global indexes, cryptocurrency exchanges, and many more. Accessible from any device, at any time, on any device, and in real-time.
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