It’s been crucial for investors and traders to make informed trading decisions in the rapidly growing landscape of financial markets. In this online world of trading and investment, online platforms have played a vital role in providing accurate and timely market analysis.
One of the reliable and efficient charting systems that has gained significant popularity amongst the trading community is TradingView. TradingView has emerged as a prominent player because of its extensive features and user-friendly interface, charting capabilities, social networking and community engagement, market data, and integration, making it a unique and powerful platform for traders.
How do chart tools help traders and investors? Chart tools allow traders and investors to determine the trend in the market, identify significant price levels for assets, offer a range of technical indicators, contribute to effective risk management, analyse historical price movements by using different time frames, and ultimately help traders and investors to make an informed decision.
In this review, we will provide you with complete guidance for the various aspects of TradeView, examining its offerings, user experience, and effectiveness as a trading analysis platform with an idea to provide you with the complete knowledge for a comprehensive analysis of its offerings.
Table of Contents
What is TradingView?
TradingView is a web-based charting system that offers online charting and trading analysis tools for traders and investors across various financial markets. TradingView assists individuals by providing a range of features and benefits. Which helps the trading community:
- To customise charts
- Assess real-time market data to stay updated
- Offers a wide range of technical analysis
- Allowing them to share their trading ideas
- Offering social networking and strategy testing
- Alerts on market conditions
- Provides tutorials and guidance to learn technical analysis
TradingView was founded in September 2011, aimed at providing a web-based platform for individuals for charting tools and technical analysis and providing a community where traders share trading ideas. Primarily, it was built for stocks and ETFs, and now, over a while, crypto has been added. With a rating of 4.9, 1M plus reviews, and 5M plus users, TradingView emerged as one of the leading financial market tools in trade and investment.
In addition to its unique features, TradingView offers CME group (for nonprofessional traders) and multi-monitor support: TradingView mobile apps (Android+IOS), paper trading, and US stock bundle updates.
TradingView’s Intended User Base?
TradingView has been designed to cater to various types and diverse individuals.
TradingView offers user-friendly interfaces and educational resources for beginners or newcomers to help them understand and learn about market trends.
Experienced traders can use this tool to refine their trading strategies by conducting in-depth analysis to discover new trading opportunities.
Anyone interested in trading or investment, whether he is a forex or swing trader, data trader, technical analyst, long-term investor, cryptocurrency trader, or commodity trader, TradeView is tailoring to a wide array of trading and investment needs.
TradingView’s Key Features
TradeView offers the following products:
- Super Charts
- Screeners
- Stock
- Forex
- Cryptocurrencies
- Economic Calendar
As mentioned above, all products collectively provide a range of features, making TradeView a unique online platform for its traders and investors.
Interactive Charts, Technical and Financial Analysis
To analyse price movements and market trends, TradingView is equipped with advanced chart tools and technical indicators, offers:
- 15+ charts type
- Spreads
- Custom Time Intervals
- 100+ prebuild most popular indicators
- 100,000 + public indicators
- 90+ smart drawing tools
Investors and traders can access chart types, including line, bar, candlestick, and Renko charts. For traders who rely on technical analysis to make their strategies, Tradeview offers interactive charts and a range of indicators that visually represent market data, trends, and patterns for different financial indicators to make an informed decision.
Additionally, users can apply different technical indicators such as moving averages, MACD, and RSI to charts.
Charts help and guide traders by highlighting significant price levels to set stop loss and take profit orders. You can switch between various time frames, from minutes to months, to look at insights into short-term and long-term trends and fluctuations.
Charts also allow traders to compare between two assets and indicators. You will get fantastic analysis results within the blink of an eye for a wide range of indicators, thanks to Trading View..!
TradeView provides you with financial data of different companies. That information lets you discover a company’s financial health, including its cash flows, assets, liabilities, shareholding, and statistics. All this helps to make an informed decision for investment.
Screeners
TradingView provides you with efficient screeners, working like a research tool to assist you in identifying assets within the vast financial market landscape. Stock Screeners, Crypto Screeners, and Forex Screeners allow traders and investors to filter and sort financial instruments.
You can apply these customisable filters to narrow your search, including market sector, price range, trading volume, earnings growth, and more.
These screeners enable users to combine quantitative metrics with technical patterns. Furthermore, you can use screeners to scan various financial markets, including stocks, cryptocurrencies, forex, and commodities.
Paper Trading
TradeView provides its users with a virtual trading environment that is “paper trading”. It allows users to gain experience, refine their strategies, and assess their performance without using real money or before committing natural capital to the markets.
After logging into paper trading, you can start with a default amount of $100,000, which you can reset afterwards. You can select the buy and sell button on the chart to enter your order to buy or sell any security. Another way to enter your order is to right-click on the chart.
Paper trading allows you risk-free trading, provides a risk-free environment to test trading strategies and learning opportunities, allows its users to explore different financial instruments, and serves as an educational tool for understanding the execution of trading with zero financial risk.
Social Networking
TradingView is known for its advanced charting system and as a social network hub for its traders. It provides a community and a social platform to its users where they interact with each other, share their experiences, trade ideas, and discuss market trends in real-time. This promotes learning knowledge sharing, analysis, and predictions for beginners and experienced traders to get updated with the market sentiments.
Alerts and Notifications
To stay on top of the market movements for specific market conditions, traders can set notifications on TradeView. Once these conditions are met, the system will send you an alert or warning.
You can set real-time price alerts, indicator alerts, strategy alerts, alerts for drawings, and notifications, or you can draw your alerts. These notifications can be email alerts, popup messages, SMS alerts, push notifications, etc.
Pine Script
One of the unique features of TradeView is its programming language, Pine Script, which allows traders and investors to create custom technical indicators, custom strategies, custom alerts and notifications, backtesting to test on historical data, custom indicators, and system sharing with the community, allows users to create visual elements on charts.
It’s important to know that Pine Script offers users excellent flexibility, but you must understand the programming language.
Educational Resources and Support System:
TradingView Academy provides a range of free courses, webinars and workshops, blog posts and articles, educational videos, user manuals, strategy scripts, platform tours and tutorials, and interactive learnings for its traders, investors, and trading community. These resources help traders and investors gain the knowledge and skills needed to make informed decisions to navigate the complexities of financial markets.
TradingView also provides its users with a support chat system, live chat, and a help centre to answer frequently asked questions to help its community or to assist them with better understanding.
TradingView Pros & Cons
Pros
- User-friendly interface, accessible to both newcomers and seasoned traders.
- Comprehensive charting tools to conduct in-depth technical analysis.
- Customising charts, layouts, and indicators contributes to a more effective trading experience.
- Screeners for forex, cryptocurrencies, and stocks
- Backtesting to analyse the historical data.
- Trading and Investor community
- Integration with brokers
- Paper trading for execution of trading and investment with zero risk.
Cons
- Limited fundamental data for the basic plan.
- More advanced tools and data sources are locked behind subscription tiers.
- Lack of direct trading
TradingView Review: Thoughts and Recommendations:
TradingView is a fast, reliable, simple, and effective tool for my trading needs and analysis. TradingView IOS and Android Apps, with ratings of 4.9 and 4.8 with 500,000 reviews, show higher user satisfaction worldwide. But TradingView also offers a desktop version with a user-friendly interface, and overall, the 50M traders and investors community is one of the best of its kind.
One of the standout features of TradingView is its intuitive and user-friendly interface, making it accessible to newcomers and seasoned traders.
TradingView is equipped with all the advanced charting capabilities, providing a range of charts from simple line charts to complex candlestick patterns, extensive charting tools, customisations, layouts, etc.
According to the needs of the financial market and its better understanding, TradingView is providing real-time data for a wide array of financial instruments, including stocks, cryptocurrencies, forex, indices, and more.
TradingView provides an intensive library of financial indicators for analysts, professionals, traders, and investors to help identify trends, patterns, and potential.
If we look at the price plans, though, Tradingview is offering its users a free subscription plan with basic features, but this free basic plan needs more advanced features and indicators. This part of TradingView discourages beginners or traders who need more money to afford their price plans or have limited budgets, with monthly subscriptions starting from $14.95.
There could be limitations on the availability of financial data depending on the subscription level, and free users have limited historical data availability.
However, before subscribing to a paid plan, based on my knowledge and as a TradingView user, carefully assess that the benefits of the paid plans align with your trading strategy. Though TradingView is a powerful platform, you must cross-verify your analysis by cross-verifying your findings..
TradingView Pricing / Plans Overview: How Much Does it Cost?
TradingView is providing its users with four subscription plans; here you can find the details for all pricing plans:
Basic Plan
TradingView is offering a free basic plan to its traders and investors. You can access basic charting and technical analysis tools under this plan but with a limited number of indicators for a certain period. You can access historical annual financial data on charts for seven years, while in the Pro plan, you can access the exact data for 20 years.
Advanced features and data sources might not be available under the basic plan.
Pro Plan
The pro plan is suitable for individual traders looking for extended historical data, more alerts, more intervals, and indicators. Under this plan, you can have a free trial for 30 days, and between your trial or after the completion of 30 days, you can activate your monthly subscription by paying $14.95/month.
Pro plan provides its users with custom time intervals and custom range bars, which the basic plan lacks. Moreover, it provides you with a more historical financial data range than a basic plan.
Pro + Plan
Pro+ plan is suitable for day traders to look into intraday market analysis more deeply. This plan allows its users a free trial for 30 days, and you can skip the trial and subscribe to this plan for $29.95/month.
The Pro+ plan unlocks all the Pro plan features with additional functionality, data sources, technical alerts, strategies, and chart layouts.
Premium
The Premium Plan is designed for more active and serious traders, allowing users a free trial for 30 days or $59.95/month.
The premium plan offers more flexibility than the Pro+ plan by allowing users access to more indicators, alerts that do not expire, advanced analysis tools, priority customer support, unlimited saved chart layouts, four times more data on charts, and so on.
Ultimate Plan
TradingView offers an Ultimate plan for its professional subscribers, like cryptocurrency traders, under a package of $499.95/month.
Under this plan, professional traders and investors can unlock more functionality and deal with all the professional data.
Discounts:
You can visit the TradingView website for ongoing discounts, as TradingView occasionally offers discounts, especially for annual subscriptions.
Frequently Asked Questions (FAQs)
Which country app is TradingView?
TradingView is located in London, England, United Kingdom.
What are the limitations of TradingView free?
Its free subscription lacks historical data and advanced features.
Who is the owner of TradingView?
It was founded in 2011 by Stan Bokov, Denis Globa, and Constantin Ivanov.
How many charts can you use in TradingView?
You can use 15+ charts in TradingView.
How many charts can you use in TradingView?
You can use 15+ charts in TradingView.
Conclusion:
No doubt, TradingView is a powerful stock charting tool. A user-friendly interface, advanced charting tool features, and a social networking community make TradingView a top choice for financial analysts, Traders, and investors, whether beginners or professionals, to enhance their financial analysis and decision-making processes.
Beginners must use TradingView’s educational resources to become more proficient in using its tools effectively.
One should be careful while choosing the price plan for subscribing to TradingView, and the plan must be aligned with one’s trading needs since its free subscription needs more historical data and advanced features.
Overall, TradingView is worth subscribing to for your financial needs and better understanding of the market trends. This review will be beneficial for you. If you have any questions, you can ask in the comment section.
