TradingView Review – Technical Analysis – Charting Software
Welcome to our TradingView review, where we look at this charting software and many of its other features. TradingView is one of the best technical analysis tools available and is much more than just stock charts. Continue reading for more details.
|What is TradingView?|
|Technical Analysis – Stock Charts|
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What is TradingView?
TradingView is stock charting software with a social element. The platform is one of the best technical analysis tools available to private investors. It has the expected features such as charts, indicators and screeners, but it also has script writing capability and broker integration. The technical analysis tools are excellent on their own; however, the social element makes TradingView different. TradingView allows people to share their stock charts and technical analysis, share their thoughts, and chat live about various assets.
There is a free version available and different levels of paid subscriptions. The paid subscriptions open up more advanced indicators, multi charts, server-side alerts, and no ads.
Many charting platforms are designed specifically for particular assets such as stock traders, forex traders or commodity traders. However, the TradingView platform works well with all. They have connections to +50 stock exchanges and +30 of the most popular crypto exchanges.
TradingView has managed to create visually pleasing and easy to use technical analysis software. It also comes with a fun interactive social element that makes the whole platform enjoyable to use.
Technical Analysis – Stock Charts
TradingView stock charts have a great balance of being easy to use for beginners and having advanced capabilities for the pros.
There are hundreds of prebuilt indicators and drawing tools available. The free version allows you to see price action over multiple time frames down to 1-minute bars. You can also add up to 3 indicators from the wide range available, including favourites such as moving averages, MACD, RSI and Volume.
For the paid subscriptions, you can add more indicators to each chart. This includes advanced indicators such as volume profiles, auto fib retracement, support & resistance levels, etc.
Pine Script is a programming language created by TradingView that allows people to develop their own indicators and strategies. These indicators and strategies are available in a public library for anyone to use. Some of these community-built indicators are very useful and well worth a look.
Asset Screener – Finding Trades
A screener is a valuable tool that allows you to filter for stocks, cryptocurrencies and currency pairs. There is a wide range of filter options using descriptive, fundamental and technical data. The screener is great for helping you find that next investment or trade.
The platform allows you to save multiple different screeners for different strategies and flip between them at any time.
There is also the functionality to set alerts based on your screener settings. For example, providing you with options to receive noise alerts, pop-ups and email notifications.
The social side of TradingView adds an interesting element to this charting platform. There are chat groups available for almost any topic. Some examples include chat groups for top-level forex discussions, gold, S&P 500, swing trading and even a Gamestop chat group – if that’s your thing.
The “Ideas” section is where people can share their charts and technical analysis along with their commentary and thoughts. Anyone can interact with these ideas by adding “likes” or commenting on the specific chart or setup.
You will also find educational videos that have been created by the community—these range from teaching you how to draw technical patterns to understanding indicators correctly.
Nice visuals provide you with a technical overview based on popular indicators. These gauges can be altered for different time frames depending on your specific focus.
You will need to do a more in-depth analysis, but these visuals give you a great overview.
Fundamental Analysis – Financial Statements & Statistics
TradingView also provides fundamental information with high level annual & quarterly progress and details of the financial statements.
Also available are the key statistics from market cap and shares outstanding to ratios like Price to Sales and Debt to Assets.
This information is perfect for getting a general view of the fundamentals. However, TradingView is a technical analysis platform with some fundaments. If you require more detailed fundamental data, I would suggest tools such as SharePad or Finbox.
Many brokers are now integrated with TradingView. This integration allows you to make your trades directly from the TradingView platform. In addition, a paper trading option enables you to have a “pretend” broker account and practice your trades risk-free.
TradingView has a basic plan that is free to use. It has many vital features but limited functionality—for example, only three indicators per chart, one chart per window and limited alerts. However, there is still plenty of functionality available for anyone just starting or requiring basic technical analysis.
Then there are three different levels of paid subscription that are all ad-free with increased functionality the more you spend.
You can create a free account instantly, and there are free trials for paid subscriptions. There is also a worthwhile discount if you pay annually rather than monthly.
Below you will find the current pricing structure when writing this post. Click on the image to see the latest prices.