How to use Tradingview and what is it?
Tradingview is the most used trading website where traders can share their market analysis, ideas and strategies.
Tradingview is a free forum, used by millions of investors. On this forum there are analysis of the major currency pairs, cryptocurrencies, indexes, commodities and stocks. Every analysis is public, everybody can share their ideas and discuss with other traders about it.
Using Tradingview is very easy, a person just need to create a free account. The concept is the same as Facebook or any other social media, with the difference that this platform has been created only to talk about investments and trading.
Let’s see now in details how to use Tradingview.
How to sign up on Tradingview
The first thing to do is to create a Tradingview account. The company offers 4 types of account:
- Basic: this is for free and allows you access to the basic tools of the platform
- Pro: the cost is $14.95 a month and gives you more charts, intervals and indicators to use
- Pro+ : $29.95 a month with intraday technical analysis for intraday trading
- Premium: $59.95 a month, with higher precision analysis and maximum data available
Depending on you level of experience, you can decide which account is better for you. Every account gives you access to the market’s charts.
Once the account has been opened, you can access with your email and password.
The platform doesn’t require any additional document.
If you select the free basic account, you also don’t need the enter any credit card detail.
How to use a Tradingview Profile
When you open a account on Tradingview, you can also create your own profile or Avatar. This means that in the information you enter, you also use a nickname, add a picture and enter more information about your trading experience.
All these information are public, visible to all other users.
One other things that makes Tradingview like a proper social media platform, is that people can follow other traders.
Having a lot of followers can be a sign of trust among the platform.
Finally, when you click on the profile of a certain trader, you can also read all the previous analysis posted, the topics, indicators and the markets he is more interested about.
Using Tradingview is very simple. The platform is well designed and the usability is great.
The top menu is organised in:
How to use Tradingview Ideas
On the Ideas section you can find all the ideas other users have about a certain market. The menu is organised in assets, indicators and chart analysis.
Depending on your interest, you can pick any topic and you can then read the ideas of other investors about that market or that indicator.
Ideas about the market shows how traders have analysed that market and they would do as next investment.
Ideas about indicators are tips or suggestions on how to use at the very best that tool.
How to use the Markets section
The Markets section is where you can find all the markets available. There are the following assets available:
- Traditional currencies
When you select a market, you can see the price in that moment on a chart in the middle of the screen. You can change the time-frame and see how the price moved in that time.
Below there are the ideas, technical analysis and trading suggestions for that market.
When you read an idea or suggestion, the author is public, this means you can also read the level of expertise he/she has, and the previous analysis done. This helps to understand how trustable each person is on the platform and if it is worth to follow those suggestions.
Tradingview Script Section
The script section is the area for more professional and expert users. As you might understand from its name, here you can find scripts or codes to integrate into your personal trading platform.
Tradingview users trade on the Metatrader platform. This platform is very common in the trading world because allows traders to connect self-developed indicators or Expert Advisors.
Once you select a script, you can find the analysis of its behaviour, how effective it has been, and at the end the piece of code to integrate to your platform.
How to use Tradingview Screeners
The Tradingview screeners are the section where you can find all the markets and see their charts.
It is very similar to the Markets section.
When you select a market, you can see the price at that moment, ideas and trading suggestions.
The best gadget on this section is the technical one. Here you can see the recommended trend the market will follow and if it is recommended to sell or buy.
The indicator is divided in 5 areas:
- Strong sell
- Strong buy
If you click on it you can also find the trading tips coming from other traders, the moving average or the oscillator.
The Brokers Section
On this section, Tradingview lists a small selection of the best trading platforms recommended to the users.
On all these platforms are available to all traders, it is possible to open a real account or just a demo account.
A demo account is a trading account with virtual money. This could be a perfect solution for beginners who just want to test the new strategies learned.
Every broker has different commission models and fees. It is always very important to check all brokers’ details before opening an account.
How to use Tradingview Charts
The final section of Tradingview is the charts one. As the name says, here there are all market’s charts available.
The difference between this section and the other charts, is that here they are more customizable.
It is possible to change the timeframe, integrate many indicators and change colors and lines.
The default layout for charts is a blue line. On the chart section you can use the candle sticks. When analysing a market, the candle sticks is the most professional ways to look at a traffic.
Also, the selection of indicators to use depends on the the type of account you have. On the basic account there are 10 indicators available. The better the account is, the more indicators available there are.
Author of this article and founder of Tradingonlineguide.com
My aim is to help you increase your trading knowledge with helpful content. I come from an economic background and have a strong passion for forex trading. With more than 6 years in the online trading world, I want to share my financial knowledge so that anyone can develop their investment skills.
In my spare time I enjoy cooking and travelling.
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