What is TradingView?
Founded in 2012 by Denis Globa, TradingView is an online stock picker and screener that is suitable for both new and seasoned active traders.
It comes with a variety of cloud-based charting tools for research and allows users to communicate and cooperate with other online traders.
Unfortunately, most significant brokerages are not yet directly connected with TradingView, so you'll have to place trades with your preferred brokerage individually.
TradingView allows users to personalize their charts and indicators making it a great tool to research assets to invest in.
Because of its adaptability, it is still a popular choice among active traders and financial software firms. Users can learn new concepts, research market swings, and potential chart outcomes, work with other traders, chat, and ask questions.
The platform allows traders to create their own trading tools and run them on TradingView’s servers using pine-script.
TradingView designed Pine as a lightweight, yet powerful language for developing indicators and strategies that users can backtest. Most of TradingView’s built-in indicators are written in Pine, and their thriving community of Pine coders has published more than 100,000 community scripts.
For all plans, there are more than 50 clever sketching tools.
Lines and trends, geometric shapes, patterns, and annotations are examples of these.
Users benefit from these drawing tools as it aids them in making accurate technical analysis. The markets are subject to ups and downs. TradingView aids you in better understanding the technical features of the markets, regardless of market direction.
With TradingView, you can establish price alerts for your favorite stocks at specified levels within seconds.Server-side warnings are available even in the free version. The more you pay for your subscription, the more alerts you'll be able to put up.
The fact that those notifications can be based on a certain price, as well as indicators or drawings, is a good feature. You have a total of 12 alert conditions to choose from. You can be notified by SMS, Push to Phone, Webhooks, or email.
TradingView has a wonderful community, extended trading hours, and personalised scanning based on your trading tactics. Their stock screener allows you to scan the market according to your preferences.
Who uses TradingView?
TradingView is designed for active traders who are looking to perform technical analysis on stocks and crypto.
It is not intended for long-term, fundamental investors who may only need basic charting for entry/exit points.
TradingView is easy to use for new traders who are just starting out and learning about different indicators, trading strategies, and developing their own unique style.
It also has powerful features that experienced traders can take advantage of such as custom scripts and decades of experience.
What can TradingView be used for?
TradingView has a couple of key features for specific use cases. We've outlined the primary uses of TradingView below.
Charting is an essential part of trading, and TradingView's charts are a great way to get started.
Once you input a specific asset name or ticker into their search bar and select it, the initial graph is just a quick overview.
To access all of its features, you need to click on their “Full-featured chart” button.
This will open up a much more detailed view of the asset's performance over time. You can adjust the time frame from one day to several years, as well as add indicators like moving averages and Bollinger Bands to help you analyze trends and make better decisions.
Screeners allow traders and investors to quickly find the assets that meet their criteria.
TradingView offers three screeners: stocks, forex, and cryptocurrencies.
The stock screener allows users to filter through thousands of stocks, ETFs, common stocks, and preferred stocks. It also provides a variety of filtering options such as price range, market capitalization, sector, industry, and more.
The forex screener is great for finding currency pairs that match your trading strategy. You can filter by base currency or quote currency and even narrow down your search by pip spread or swap rate.
The cryptocurrency screener is perfect for those looking to invest in digital currencies like Bitcoin or Ethereum. It allows you to filter by market cap, volume traded in the last 24 hours, circulating supply, and more.
Traders can set up price alerts on individual assets and get notified when the current price hits the defined amount.
This is useful for those who are following multiple assets and don’t want to miss out on any good buy opportunities.
TradingView has implemented this feature, allowing users to receive notifications on any of their platforms when the asset reaches the desired price point.
As mentioned above, TradingView has developed its own scripting language, Pine Script.
This allows traders to create custom indicators and plot them in their charts.
This feature is great for those who feel the default indicators are not enough for their trading needs. With Pine Script, traders can build their own indicators from scratch and share them with the community. This way, they can get feedback on their creations from other traders and improve upon them.
The public library also contains custom-built indicators created by other traders, which you can access from the full-featured chart page.
TradingView offers multiple tiers of pricing.
In the free tier you get access tot he basic features allowing you to explore the product and see what it can offer.
However, these features are quite limited and wouldn’t be suitable for serious trading. For those looking to take their trading to the next level, TradingView offers three upgrade plans: Pro, Pro+, and Premium.
Pro tier - £12.95 / month
With the pro level, you get...
- 5 indicators per chart
- 2 charts per layout
- 20 active alerts
Pro+ tier - £24.95 / month
The Pro+ plan offers more than the pro with over 100 indicators and drawing tools plus advanced charting capabilities such as custom timeframes and backtesting.
- 10 indicators per chart
- 4 charts per layout
- 100 active alerts
Premium - £49.95 / month
Premium again builds on the pro+ and adds even more functionality. With this plan you get.
- 25 indicators per chart
- 8 charts per layout
- 400 active alerts