Table of Contents
What is TradingView?
If you are a technical Analyst and are active in the trading community, you must have heard of tradingview. TradingView is a platform that provides traders, investors, and market enthusiasts with advanced charting tools, market data, and community features. The platform helps users enhance their technical skills by providing top-notch charting tools and features. So let’s understand how to use tradingview.
Why use TradingView for trading and analysis?
You might be wondering why you should use TradingView instead of the tools provided by your brokers. Well, there are several reasons: it’s more reliable, easier to use, and highly recommended by experts. Here are some of the advantages you’ll enjoy by switching to TradingView:
Advanced Charting Tools: TradingView provides a robust charting platform with numerous technical indicators, chart types, and customization options. This makes it simple for users to craft charts tailored to the individual needs that help them make informed decisions.
Market Data: TradingView provides real-time market data and news updates, making it simple for users to stay abreast of market movements and events.
Community Features: TradingView boasts a vibrant community of traders and investors who contribute their thoughts, strategies, and trades on the platform. This provides users with access to insightful data and an invaluable network of trading and investment professionals.
Mobile App: TradingView provides users with access to their charts and market data on the go, making monitoring investments and executing trades conveniently from any location.
Key Features of TradingView
TradingView boasts many features that make it a valuable resource for traders and investors. Some key highlights include the following:
Charts: TradingView provides an impressive charting platform with various technical indicators, chart types, and customization options available.
Technical Indicators: TradingView offers various technical indicators that can be added to charts, such as moving averages, Bollinger Bands, and oscillators.
Market Data: TradingView provides real-time market data, news updates, and historical market information to keep users abreast of market movements and events.
Community Features: TradingView boasts an active community of traders and investors who contribute their knowledge, strategies, and trades on the platform. This provides users with access to in-depth research, valuable market analysis, and access to an invaluable network of trading and investing professionals.
Pine Scripting Language: TradingView also uses Pine Script as its scripting language, enabling users to create custom indicators and automated trading strategies.
Community Features: TradingView boasts an active community of traders and investors who contribute their knowledge, strategies, and trades on the platform. This provides users with access to in-depth research, valuable market analysis, and an invaluable network of trading and investing professionals.
Setting Up Your TradingView Account
Creating an Account
Getting started with TradingView is a breeze. Here’s how:
- Go to the TradingView website (www.tradingview.com).
- Click on the “Sign Up” button in the homepage’s top right corner.
- Fill in your email address and choose a password for security.
- Click the “Sign Up” button to complete registration.
- Verify your email address by clicking on the verification link sent via email.
Personalizing Your Profile
After creating an account on TradingView, you can customize your profile to make the most of your experience. Here’s how:
- Log in to your TradingView account.
- Click on your profile picture in the top right corner of your screen.
- Select “Profile” from the dropdown menu options.
- On the Profile page, you can add a profile picture, write a bio and select a username.
- Additionally, you can provide information about your location, website, and social media accounts if desired.
- Finally, click “Save Changes” to save all changes made.
Syncing Your Brokerage Account
A brokerage account can be synced with TradingView so that your trades and portfolio information is accessible directly on the TradingView platform. Here’s how:
- Log into your TradingView account.
- To log in, select your profile picture in the top right corner of your screen and then choose “Account” from the dropdown menu.
- On the Account page, click “Brokerage.”
- Enter your login information and grant TradingView access to this account.
Navigating the TradingView Platform
The Dashboard
When you log into your TradingView account, the dashboard is the first screen you will see. It gives a quick overview of market activity. It gives you quick access to various features within the platform with just a few clicks. Here’s what can be found on your dashboard:
The Market Overview: This section gives a real-time snapshot of the market, including current prices and changes for major indices, commodities, and cryptocurrencies.
Watchlists: This section allows you to create and manage your personalized watchlists. You can add stocks, indices, commodities, and cryptocurrencies to these lists and monitor their prices in real time.
Ideas: This section displays the latest market analysis and ideas posted by other TradingView users. You can filter these suggestions based on asset type, timeframe, or technical analysis.
Chart: The chart section allows you to monitor the price movement of an asset in real time. You can customize your chart by selecting an asset, time frame, and display style.
The Chart Editor
The chart editor allows you to design and customize charts according to your preference. It offers a wealth of technical analysis tools and indicators to analyze asset price movements. Here’s what’s available within the chart editor:
Chart Types: TradingView provides a range of chart types, such as bar charts, candlestick graphs, line graphs, and more. You can pick the chart type that best suits your analysis style.
TradingView Offers Over 100 Technical Indicators: Add these indicators to your chart to easily identify trends, support/resistance levels, and other market conditions. With these tools, you’ll be able to monitor changes in price over time more accurately than ever before.
Drawings: TradingView’s drawing tools let you add trendlines, Fibonacci retracements, and other technical analysis elements to your chart.
Templates: Save your chart configurations as templates, which you can apply to other charts. This is especially handy if you need to apply your favorite indicators and drawings to a new chart quickly.
The Idea Stream
The idea stream allows users to share their market analysis, ideas, and trading strategies with others. Here’s what you’ll find inside:
Ideas: The idea stream displays the latest market analysis and trading suggestions posted by other TradingView users. You can filter these ideas based on asset type, time frame, or technical analysis.
Charts: Each idea in the idea stream features a chart that displays the price movement of an asset being analyzed. You can interact with this chart and add your technical analysis.
Comments: Join the conversation by commenting on other users’ ideas and charts. This is an excellent way to connect with other traders and investors and gain insight from their experiences.
Followers: You can follow other users in the idea stream to receive notifications when they post new ideas. This is useful if you want to stay informed on market analysis and ideas generated by those you follow.
Adding Symbols and Charting Options
One of the essential steps when using TradingView is adding symbols and selecting charting options. This will enable you to view the price movement of an asset in whatever format you prefer. Here’s how:
Adding Symbols
To add a symbol, click on the “Symbol” search bar at the top of the page. Type in whatever symbol you’re searching for (such as stock or cryptocurrency) and select from the dropdown menu. Alternatively, use exchange filters to select an exact exchange for that particular symbol.
Charting Options
After adding a symbol, you can customize the chart display to your preference. Choose from chart types like line, bar, or candlestick charts; select an arbitrary timeframe such as 1-minute, 1-hour, or daily; and adjust the chart size and color according to preference.
Technical Indicators on Tradingview
Technical indicators are integral to technical analysis and can give valuable insights into asset prices. TradingView offers a vast library of technical indicators you can overlay on your charts. Here’s how:
Accessing Indicators
To view a list of technical indicators, click the “Indicators” button in the chart editor. This will open an array of all available indicators organized into distinct categories.
Adding Indicators: To add an indicator, click its name in the list and make your selections. The indicator will then be added to your chart. You can add multiple indicators at once and customize their settings as necessary.
Chart patterns such as head and shoulders, triangles, and rectangles can be helpful.
How to use Indicator Templates in TradingView
TradingView offers indicator templates to save and quickly access your favorite technical indicators and chart settings. With these, presets, applying these settings takes only minutes – saving time and energy in the process! To access them, click “Templates” from the chart editor menu bar, then select “Community Templates.”
From here, you can browse a collection of templates created by other members of the TradingView community and apply any that catch your eye to your chart. This is an invaluable opportunity to access cutting-edge technical analysis tools and gain valuable advice from experienced traders.
Creating and Saving Custom Indicator Templates
With TradingView, it is simple to customize your indicator templates by applying technical indicators and chart settings directly onto a chart. Once complete, click the “Save Template” button within the chart editor to save your customized setup as an expert-designed template.
Setting Up Alerts
Alerts are an invaluable tool that can keep you informed of major price movements and market events. TradingView enables users to set alerts based on conditions like price levels, technical indicators, and chart patterns. Here’s how:
Accessing Alerts: To use the alerts feature of the chart editor, click on “Alerts.” This will display all existing alerts and a form for creating new ones.
Creating Alerts: To set up an alert, select your desired condition and define its parameters. For instance, you could set it to activate when a stock reaches a specific price level, or certain technical indicators cross a certain threshold.
Managing Alerts: Once you’ve created an alert, you can edit or delete its parameters. You can also receive alerts via email, mobile push notifications, or both.
How to Select Timeframes on TradingView
Selecting the correct time frame is an integral part of technical analysis on TradingView. A timeframe is a fixed interval that determines how price data appears on a chart. The most popular time frames are daily, weekly, and monthly but you can also opt for other durations like intraday ones like 1 minute, 5 minutes, or 15 minutes.
Here’s the process for selecting a timeframe on TradingView:
- Navigating the Chart Editor: To select an interval on TradingView, open up the chart editor by clicking “Charts” from your dashboard.
- Selecting a Symbol: Once in the chart editor, enter your chosen symbol or company name into the search bar to select it for charting.
Choosing a Timeframe: To select an appropriate timeframe, click on the “Timeframe” dropdown menu in the chart editor. Here, you can choose from various timeframes such as daily, weekly, monthly, and intraday.
Viewing the Chart: Once you select a timeframe, the chart will be updated with price data for that interval. You can review this data and perform technical analysis to make informed trading decisions.
Altering the Timeframe: To adjust the timeframe, repeat the process and select a different interval from the “Timeframe” dropdown menu.
How to Add a Comparison
Understanding the Comparison Tool
Trading view’s comparison tool is a feature that allows traders to compare the performance of different financial instruments on a single chart.With this versatile tool, users can easily compare stocks, indices, commodities, cryptocurrencies, and more.
Adding a Comparison to your Chart
Adding a Comparison to your chart on TradingView is an easy process. Here’s how:
- Open the asset chart you wish to compare.
- Click on the Comparison icon in the toolbar on the left side of the chart.
- Choose from among available assets by selecting it from this list.
- Once you’ve selected an asset, it will be added to your chart as a comparison.
Customizing the Comparison
After adding a Comparison to your chart, you have full control over its customization options in TradingView. These may include:
Timeframe: Select a timeframe for comparison, such as 1-minute, 5-minute, daily, weekly, or monthly.
Color: You can customize the comparison line’s color, so it’s easier to distinguish different assets on your chart.
Style: You can select the style of comparison line, such as a solid line, dotted line, or dashed line.
Weight: You determine how thick or thin this line will appear on your chart.
Advanced Features of TradingView
TradingView offers advanced features that provide maximum efficiency, comfort, and control during trades.
The Pine Scripting Language
The Pine scripting language is a proprietary programming language designed to enable custom indicators and trading strategies on TradingView. With Pine, you can design your technical indicators, automate trading strategies, and perform advanced data analysis.
Getting Started with Pine: To get started with Pine, open the chart editor and click on “Scripts.” In this interactive tool, you can write and modify scripts and test them against real data.
Constructing Custom Indicators: To construct custom indicators, you can utilize the Pine Editor to write a script that defines their logic. For instance, you could construct an adaptive moving average indicator or custom oscillator.
Automating Trading Strategies: With Pine, you can automate your trading strategies. For instance, you could write a script that buys or sells stocks based on certain conditions, such as moving average crossover or price level.
TradingView Community
TradingView boasts a thriving community of traders and investors who actively collaborate. By following other traders and accessing their charts, you can gain invaluable insights into different markets and strategies.
Follow Other Traders: On TradingView, you can identify traders whose ideas and strategies align with yours and click the “Follow” button on their profiles. You can access their charts and insights directly from your dashboard.
Participating in the Community: In addition to following other traders, you can also participate in TradingView’s community by commenting on other traders’ ideas and sharing your own. You’ll have a chance to engage in conversations and debates with fellow investors, plus collaborate on trading strategies together!
The Bottom Line
TradingView is an impressive platform for traders, providing a robust selection of charting and technical analysis tools. No matter your level of experience or knowledge, TradingView’s user-friendly interface, comprehensive resources, and supportive community will help you make informed trading decisions with confidence.
