TradingView is ideally an online portal with charts. It is an advanced financial platform visualization platform which can be used like any other modern and user-friendly website. According to the official website, you can get the ideal tools and data for basic price charts or even plotting complex spread symbols with overlaid strategy backtesting here. TradingView is in many ways a major competitor to MetaTrader 4.
TradingView is a social network where anyone can publish a trade idea. It is an active social network for traders and investors. On this platform, there are more than 2.7 million investors. Close to 1.7 million ideas have been shared and 11 million charts have already been created. The platform gives millions of traders around the world a chance to discuss trading ideas and even place live orders. It is a platform that can be accessed using a computer, iPad or a Smartphone and from any part of the world, even China.
How does TradingView work?
Basically, TradingView helps you get trading ideas from the convenience of your device and location. Just browse the ideas and click ‘Play’ to see how predictions actually played out. You can publish trading ideas on your profile and spread them using your blog, Twitter or any other platform online. Here are the steps involved in TradingView;
- Create – Just as it is easy to create a video on many of the social media platforms, you can create one on TradingView.
- Share – Easily share your ideas through several of the social media platforms or even in your community.
- Learn – There are countless charts posted and which have a lot of useful information.
- Collaborate – There are numerous powerful tools on the platform which help traders gather timely information on the fast-moving markets.
Why use TradingView?
- You can draw anything on any chart – Unlike MetaTrader 4 where you are limited to draw vertical and horizontal lines. On TradingView, you can draw anything you can think of. You can use the ‘pen’ on the platform and draw freely any shape.
- You can split your screen into many synced up charts – There are times that you will need to view two or even four screens at the same time especially before entering a trade. TradingView allows you to open multiple charts on the same screen. Your drawings can even be synced up on all the charts when needed.
- Trading ideas promote accountability – By sharing ideas and stats, traders will generally become accountable. By sharing their data regularly, traders become committed and will even work harder to provide well-analyzed ideas or charts. The online community is a good place where your accountability virtue can be honed.
Is TradingView for everyone?
TradingView has been touted as refreshingly exciting by many traders. Many say that they are happy to use the platform when they are traveling and it is also easy to use especially when one needs to draw. The platform allows you to share ideas, criticize, argue, comment and add important details. The platform affords traders technical indicators, drawing tools and charting tools which come in handy in financial markets. It is, however, worth to note that TradingView charges $35.95 a month for a premium plan and $9.9 for a Pro plan.