What is TradingView? How to use TradingView

What is TradingView?

TradingView is a charting platform that provides price feed from almost every financial market, such as stock, commodities, crypto, etc. With its friendly UI and simple UX, TradingView received thousands of favorable reviews from traders, investors or even large organizations.

TradingView is also a social network for traders. It is possible for traders and investors to discuss and share knowledge about the market using the TradingView platform.

A premium version of TradingView is also available, which includes a more robust set of features. I'll tell you a little bit about this toolkit in this article so that you can make an informed decision about whether or not to buy this advanced version.

What is TradingView used for?

TradingView is typically used for tracking multiple asset prices, trading, socializing in the financial market, and other remarkable things.

TradingView can benefit you as a user in the following ways:

• A robust charting system.
• A thorough stock and cryptocurrency screener.
• A Server-slide alerting system to notify you of price changes.
• A thriving community where traders and investors can exchange trading and investment ideas.
• Scripts that can be tweaked to generate unique indicators.
• Broker integration for a minimum of ten brokers.
• Access to a wide range of global markets.

TradingView Review: Why should you use TradingView?

Previously, traders had to access price charts via softwares provided by the exchanges themselves. This charting software was mostly obsolete and lacked advanced tools.

If you've ever traded markets like stocks, you'll notice this right away. Amibroker is frequently used by stock investors as an intermediary software to analyze stock prices. However, Amibroker is difficult to use, and traders have to add more technical indicators to it manually.

The issue of costs is one of the reasons why exchanges rarely invest in price charts. Creating professional toolkits for charts is an expensive endeavor. On the other hand, because each trader has their own trading style and investment thesis, it is difficult for exchanges to provide all of the tools for everyone.

TradingView was created to address the aforementioned issues. Furthermore, TradingView allows you to access many types of markets that exchanges have not yet provided. Simultaneously, you can discuss your preferred specific market with traders who specialize in it.

It is possible to use the TradingView platform on any device to learn new concepts and research about market fluctuations, collaborate with others, chat, ask questions, and practice trades.

How does TradingView work?

On the homepage of TradingView, you'll find a wealth of market data that you can use before you even open an account.

There are many ways to search for a stock, including by ticker symbol, trading ideas, educational ideas, scripts, or people on TradingView.

This section also includes new stories by top authors, up-to-date summaries of indices, currencies, crypto and futures markets as well as an economic calendar and trending charts from the TradingView social media section. Beginners in the trading industry will find a wealth of educational information on this platform to help them learn the basics of the financial market.

TradingView Account Types

TradingView has four account tiers, which are:

• Basic Account for Free.
• TradingView Pro.
• TradingView Pro+.
• TradingView Premium.

The first of which is completely free, with the other three plans ranging from $14.95 to $59.95 per month. Each paid plan at TradingView comes with a free 30-day trial so that customers can decide whether or not to buy. TradingView's fees are considerably lower than other competitors.

For more detailed information about the four plans, you can click on this link to see a comparison table of the TradingView's versions here: TradingView Plans.

TradingView Tutorial: How to use TradingView

How to download TradingView

TradingView currently provides three versions, which are: Web App, Desktop App, and Tablet & Mobile version.  With the download guide here, you can find your most comfortable version to use as follows:

To get started, go to here, click "More," then "Features".

After that, the page will look like this:

The TradingView Web App is the version that allows you to use TradingView directly in your browser without having to download it. Therefore, I'll walk you through the process of downloading the Deskstop App and the Tablet/Mobile Version next.

1. Desktop App 

Click on the Desktop App button, then scroll down and select "Download Desktop".

You can download versions for Windows, MacOS, and Linux from the page. Choose one that is compatible with your devices and press the "Download" button.

• After downloading the compressed file, click on it to extract it so that you can start setting up and using the program right away.

2. Table & Mobile 

It's not uncommon when you want to check your asset's price while sitting in a coffee shop. In this case, the mobile version is the best choice.

Well done. You can begin using TradingView immediately after downloading. Our next step is creating an account on the TradingView platform!

How to sign up on TradingView

You will, of course, be able to view your favorite assets without having to create an account. However, this will cause some inconveniences. I recommend that you create a free account at the very least, as this will allow you to track your assets in the most efficient manner possible.

To create an account, go to the homepage and click on "Get Started" at the top right corner, then "Sign up".

The page displays a number of registered methods from which to choose, such as Google, Facebook, Twitter, Yahoo, Apple, Linkedin, or your email account. In this case, I'll sign up with my Google Account.

OK! A user account is now ready. Let's move on to how to use the charts on this platform.

How to read TradingView Charts

We'll take a look at each of the toolbars on TradingView.

The Top Toolbar 

The top toolbar contains some basic options such as pair switching, time frames (month, day, minutes, etc.), indicators, layouts, and so on. Start here to set up your chart and get ready for analysis.

Zooming in the top toolbar, you should notice the positions I've labeled. I will go over each item's function in detail.

[1] This is the timeframe. The daily price chart is represented by the letter D. Clicking on this will allow you to change the time horizon.

• To trade on shorter time frames, such as 4 hours, 1 hour, 5 minutes, or even 1 minute, simply click on the corresponding buttons.
• You'll see a star appear to the right of each time period. When you click the star, it will be highlighted, indicating that you have marked that time period a favorite. It will be displayed at the top of your chart.

[2] The button marked as the number 2 will allow you to change the chart type you want to watch, such as the Japanese candlestick pattern or the line chart, etc.

[3] All available indicators are listed here. You'll be able to locate the majority of the well-known or particular indicators that you desire! Simply type in the indicator's name to see all indicators with that name. Start playing around with your chart by adding some indicators.

[4] This one will include a list of indicator strategies that have been developed in advance in conjunction with some appropriate indicators.

[5] Set the market price you want to be notified of with the Alert button marked as number 5.

[6] Number 6 is a more advanced feature that is only available in the Pro version and higher. This feature allows you to divide the chart into multiple timeframes or display multiple chart types on the same screen at the same time.

[7] The Layout Saving button is used to save the charts that you are analyzing. It is critical for anyone to save the chart that they have already set up for future analysis.

[8] Chart properties allow you to adjust all sorts of customization options.

[9] This is the full-screen button that allows you to expand the chart view to fill the entire screen.

[10] The Snapshot button contains options to save/copy chart image, copy link or even tweet chart image on Twitter.

The Left Toolbar 

The left toolbar contains all of the tools you can place on your chart, such as rectangles, lines, and fib retracements. As you can see, there are a lot of tools here, and each one has a drop-down list that contains even more.

This is TradingView's most important section, where you'll find a plethora of tools to aid in market price chart analysis. Simply click any function box. TradingView will assist in displaying small feature lists in each box. You'll most likely use the Drawing Tools function several times to plot the asset's price.

Another feature I like on TradingView is the Long and Short Position. Experiment with this feature a few times. It is appealling because it enables you to calculate the appropriate take profit and stop loss ratio. At the same time, it assists you in determining a reasonable price based on the method you are implementing.

The Main Chart Area 

Currency prices are displayed in the chart's "chart area", which is located in the center of the graph. When you add a tool or indicator to the chart, it will appear here; some indicators will also open in a graph below the chart. You can change the chart's settings by right-clicking and selecting "Settings".

Trading or investing is still largely a matter of personal preference, so I always recommend that you alter the price chart on your own. This is also an important factor to consider if you want to trade successfully.

Add Alert is another intriguing feature that you should take note of. This function is frequently used by me to set up notifications for important price levels on the chart. When the market price reaches that level, you will be notified via email or via the TradingView app on your phone.

The Right Toolbar 

The right toolbar displays the various social options offered by Tradingview, and the top half of the menu includes a few useful trading tools, such as your currency pairs and watchlists, as well as some useful tools such as alerts and an economic calendar.

The upper half of the right toolbar will show your list of previously created pairs. The price and market news are shown in the lower half. By dragging your mouse down, you can remove the lower section and make more room for your watchlist.

The "+" button is used to add symbols. It will be easier to find the pairs you request.

Find BTCUSD, XRPUSD, BNBUSDT, and other cryptocurrencies, for example.

Tradingview not only displays a single type of market chart, but also many charts from various exchanges.

The Bottom Toolbar

The bottom toolbar is mostly used for taking notes and performing strategy tests. It is also where you go to link your broker account with TradingView, allowing you to trade directly from TradingView.

The first line of the bottom toolbar will quickly show the timeframes of the price chart. If you don't want to use the time frame change function on the toolbar above, the tool below is a good substitute.

There are three options at the end of this section: %, log, and auto. You can experiment by clicking each icon to see how the price chart changes.

Unlike other online charting sites where users have to manually save their analysis, TradingView is much better. As you go about your analysis, everything is automatically saved to the cloud. As a result, when you return to the site, your charts are exactly the same as they were when you left them.

How to get TradingView API

You may need to extract all of the data from a single asset for further analysis at times. Simply click on the hamburger icon in the upper left corner and then select "Export Chart Data".

Following that, click the "Export" button and there you go! You now have all the data about that asset.

How to use TradingView Widgets

Using TradingView Widgets, you can display charts, data, and more on your website in real time. TradingView provides access to a wide range of market data on stocks, futures, commodities, CFDs, and cryptocurrencies. Most major indices are supported, and we have access to over 50 exchanges and data feeds that we can slice into custom time intervals as needed.

Data from various markets and indexes can be seen in the following example:

For widgets, click the hamburger icon in the top left corner, then select "More" and "Markets" respectively.

Choose the preferred market and then click the "Get Widget" button.

This is how the page will look like. Following that, you can customize the widget that will be embedded on your website, then copy and paste the TradingView code provided below onto your website.

And that’s it!

Some best tradingview indicators for you

There are a plethora of open-source indicators available. The majority of these free indicators, such as MACD, RSI, accumulation/distribution, and the 50-day, 100-day, and 200-day moving averages, are also remarkably effective and simple to set up and use. These are just the most basic indicators to start with!

TradingView FAQs

Is TradingView legit?

Yes. TradingView is the leading charting system in the financial industry, and both novice, experienced investors and traders place their trust in it.

Is Tradingview free?

TradingView offers a free plan that allows users to explore the platform and learn more about what it can do for them. However, the free version is insufficient for technical analysis due to its functionality limitations.

Is TradingView realtime?

Yes. TradingView gives you direct access to major stock exchanges, currency pairs and more is available on TradingView.com anywhere, anytime, and on any device.

Is Tradingview a broker?

Tradingview is a charting tool, not a broker. However, broker integration is supported. Simply select "Trading Panel" at the bottom of the Trade tab, and a list of brokers will be displayed for you to choose from.

Trade directly from the Tradingview chart without having to switch to your broker's website.

Conclusion

Every trader, no matter how experienced or inexperienced they are, will find TradingView a helpful and convenient tool. TradingView is an excellent tool not only for the stock market, but also for the crypto market as well.

I hope you've learned more about how to use TradingView to trade coins from this article. We'll see you guys next time!