TradingView Review – TradingView is seen by many as the most intuitive charting platform. It’s also a community where you can share ideas and learn from others. If you like to teach, inserting a chart into a website or a YouTube video will be a cinch.
TradingView is all about charts. They have over 13 million charts created on their site so far. TradingView.com is among the top 10 most popular finance sites worldwide, according to the traffic monitoring website similarweb.com. Let’s look at why the popularity of TradingView skyrocketed to the top in less than seven years.
Technical analysis involves a lot of visuals. TradingView defines itself as an advanced financial visualization platform. It’s indeed cutting-edge. It works on any browser, device, and operating system.
Beginners like it because it’s intuitive. Experienced traders love it because of its capacity to analyze price patterns with customizable scripts and programs that automate the execution of tasks.
Do you want to look at charts from different angles? How about volume-based Renko and Kagi charts? A little Ichimoku for you? A little too advanced for you? No problem.
TradingView is also a very active social network for traders and investors. If you want to establish yourself as an authority in the trading community, your published ideas can be reviewed by others.
Members of the site can browse published predictions and see how they played out by pressing a “Play” button.
What’s in It for You?
If you need access to a high-end trading station with all the tools you need to execute your strategies, then TradingView may help you.
Even if you only need to look at basic price charts, accessing the sophisticated tools and the data provided by TradingView can help you discover all the possibilities of technical analysis and charting.
Over time, you learn how to plot a complex strategy and use the backtesting feature to determine what works best for you. Because TradingView is based in the cloud, you won’t need to install software to save your charts and settings.
It’ll be accessible to you from anywhere worldwide as long as you have an Internet connection. If you insist on installing your charting software on your desktop, TradingView was created by the same people who created MultiCharts, trading software for professional traders with advanced analytics, trading strategies, backtesting, and optimization.
TradingView Review - 7 Best Features and Benefits
As part of our TradingView review, let’s look at 7 of the best features offered by TradingView, potentially in the same order you’d use them.
1. Stock Screener: A good stock screener can be your greatest ally as a trader. TradingView won’t disappoint you in the department.
2. Real-time news: We’re talking about relevant news as it’s happening based on the symbol you are monitoring
3. Enhanced watchlists and Hotlists with Text notes: A watch list will help you identify opportunities. You can also use TradingView’s top 10 lists of hot stocks, aka the hotlists. You can write your ideas on the chart with the text note tool.
4. Alerts: Once you have identified the stocks you want to monitor, your next step would be to set up alerts. The TradingView alerts feature can notify you using a dozen conditions, which you can apply to indicators and drawing tools.
Popular Stock Scanners
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More Features Of TradingView
5. Technical Analysis: TradingView comes with over 100 pre-built studies. You don’t need to be a programmer to cover the most popular trading concepts and indicators. If you’re inclined to write your scripts, the Pine programming language will allow you to create and share your custom studies and signals.
6. Paper Trading: Not all brokers will provide you with a platform for simulated trading. TradingView to the rescue!
7. Broad Market Data Coverage: More and more traders nowadays want to access international exchanges to trade outside the US. TradingView provides data feed for stocks, futures, all major indices, Forex, Crypto, and even CFDs.
Before you can test if you have the psychological strength to trade with real money, paper trading may reveal if you have an expectancy of profit with your strategy.
Isn’t that the ultimate goal of buying and selling securities? Being profitable with fake money will not necessarily translate into being profitable once you start trading for real.
Not having a strategy that works in your favor most of the time can only put you at a significant risk of losing money. Check out a list of the top trading companies.
TradingView Review - Pros & Cons
That alone says a lot about the power of their platform. It’s an asset if your account size is decent and you want to trade different markets. If big companies are using TradingView, shouldn’t you, too? It is a little peace of mind.
I say this because you’ll have to subscribe to maximize the platform’s potential. The free access is quite limited. So, if you have minimal funds to trade, TradingView may not be for you. From the Pro entry level to the Premium membership, the monthly cost goes up to $59.95.
TradingView Review Final Thoughts
In summary, if you’re an active trader and visual thinker, TradingView charts were made for you. The social media aspect is also an asset in generating trading ideas.
You can share charts with others on the Tradingview forum and see what others are sharing and charting. Publishing charts is easy, and you can gain a nice following from doing so. It’s also easy to share custom indicators with friends on TradingView.
Frequently Asked Questions
TradingView is a good trading platform. It's mostly known for its charting tools and technical analysis features.
TradingView is one of the best charting platforms for ease of use and functionality. If you want more features then TrendSpider is a good alternative.
TradingView premium subscription is definitely worth the price. It gives traders more customizable features and removes ads from the charts.