TAS Market Profile, owned by Candid Commodities, LLC, and founded by Steve Dahl, offers state-of-the-art technical analysis tools. With an intuitive design, the tools enable traders to perform in-depth analyses across multiple asset classes and time frames. In a nutshell, The EDGE is a suite of algorithmic tools that determine what percentage of S&P500 stocks are bullish, bearish, or in the balance area.
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TradingView Review Introduction
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. In fact, 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 around the world according to the traffic monitoring website similarweb.com. Let’s take a look at some of the reasons why the popularity of TradingView skyrocketed to the top in less than 7 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; 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 provides over 50 drawing tools. Simple drawing like support and resistance lines will be easy and can even be fun once you get the hang of it.
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 the actually played out by pressing a “Play” button.
What’s in It for You?
If you don’t have access to a high-end trading station with all the tools you need to execute your strategies, then TradingView may really help you.
Even if you only need to look at basic price charts, having access to 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 figure out what works best for you. Because TradingView is based in the cloud, you won’t need to install any software to save your charts and settings.
It’ll be accessible to you from anywhere in the world as long as you have an Internet connection. If you insist on having your charting software installed on your desktop, TradingView was created by the same people who created MultiCharts; a trading software for professional traders with advanced analytics, trading strategies, backtesting, and optimization.
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: Having a watch list will help you identify opportunities. You can also use TradingView top 10 lists of hot stocks aka the hotlists. With the text note tool, you can write your ideas right on the chart.
4. Alerts: Your next step, once you have identified the stocks you want to monitor, would be to set up alerts. The TradingView alerts feature can notify you using a dozen different conditions which you can apply to indicators and even drawing tools.
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. In fact, if you’re inclined to write your own scripts, the Pine programming language will allow you to create and share your own 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: There are more and more traders nowadays wanting to access international exchanges so that they can 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.
Pros & Cons
By the way, have you noticed that the charts you see on Investing.com are provided by TradingView? In fact, Benzinga.com and other big name websites are using them for charts and data.
That alone says a lot about the power of the their platform. It’s definitely 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 to maximize the potential of the platform you’ll have to subscribe. The free access is quite limited. So if you have minimal funds to trade, TradingView may not be for you. From Pro entry level to the Premium membership the cost goes up to $59.95 per month.
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 right on the tradingview forum, and see what others are sharing and charting as well. Publishing charts is easy and you an gain a nice following from doing so. It’s also easy to share custom indicators with friends on TradingView.