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What is TradingView? The Guide

February 15, 2024

6 min

What is TradingView? The Guide

What is TradingView, one of the platforms that has revolutionised the way traders and investors analyse the markets, and how does it work?

If you are interested in trading stocks, cryptocurrencies, forex, or any other financial instrument, knowing about TradingView and how it works is essential. TradingView is a powerful tool traders and investors use, offering a platform to share ideas and strategies with other community members.

TradingView’s sophisticated and comprehensive platform is user-friendly and has quickly gained immense popularity among finance enthusiasts. The best part is that its basic version is free! Check out this guide to learn more about TradingView and its main functionalities.

What is TradingView?

TradingView is a financial platform that offers technical analysis, making it an essential resource for anyone involved in trading or investing. It’s an ideal tool for those who need to consult a chart, regardless of their skill level. The platform has been designed to cater to many users, from beginners to professionals.

The platform’s user-friendly interface and extensive customisation options are the most distinctive characteristics. It provides all the tools currently available for trading, including indicators, assets, data, statistics, and functions. Let’s delve into the details to learn more about TradingView and how it works.

Distinctive features

Due to the vast TradingView ecosystem, we have divided its functionalities into different sections. However, covering all the components in a single guide is impossible. Hence, we will only be listing the most important ones.

Technical analysis: tools and indicators

TradingView is a platform that provides a wide range of chart analysis tools. These tools can be customised to suit individual preferences, including colours, styles, and indicators. Various tools, such as drawing tools and cursors, can be used to draw lines and rectangles and measure the price movements of assets.

On TradingView, users can also jot down notes or draw geometric shapes by hand. These notes and shapes will remain where they were left on the chart, allowing users to find and access them easily. Additionally, the platform offers customizability, allowing users to adjust colours, lines, and axes to make charts easier to read and understand.

There are over 100 indicators available for in-depth analysis, including moving averages, Bollinger Bands, Gann Boxes, and Fibonacci extensions. If these are not enough, users can create their custom indicators.

Real-time data

TradingView provides real-time data for all markets where trading is possible, including the crypto world. The platform is connected to centralised exchanges like Binance, Coinbase, and Kraken, as well as decentralised ones. If you have purchased the token of a semi-unknown decentralised application and want to analyse its chart using TradingView’s tools, you can do so. You can filter assets based on specific financial or technical criteria or based on the page itself. TradingView can connect with brokers and exchanges, but you cannot trade assets directly on the platform. However, it can be connected to all the most popular brokers.

The TradingView community

The Community section of TradingView is an exceptional and significant platform feature. It’s not just a virtual meeting place for traders and investors but a dynamic ecosystem where market analysis is exchanged, trading strategies are shared, and constructive feedback is provided. This cooperative environment offers numerous benefits that are worth exploring in greater detail.

Sharing analyses and strategies

TradingView users can post their analyses with annotated charts and market forecasts on the platform. This allows them to showcase their expertise and receive other community members’ advice, suggestions and constructive criticism.

Continuous learning

The TradingView community is an excellent learning resource for individuals new to trading. By reading the analyses posted by experienced traders, newcomers can quickly learn and better understand how to apply various tools and indicators. Additionally, many community members organise webinars and training sessions that are incredibly useful for those new to trading.

Market trends and insights

The TradingView community provides diverse opinions and analyses on market trends, which can offer unique insights to its users. Users can form a more comprehensive and informed view of market dynamics with various viewpoints available, helping them make better-informed trading decisions.

Networking and Collaboration

It’s important to note that participating in the TradingView community can offer great networking opportunities. You can collaborate, exchange services, or even develop strategic partnerships for joint investments or trading ventures by connecting with other traders.

In other words, the TradingView community is more than just a group with a shared interest in trading. It’s a dynamic resource that fosters knowledge exchange, mutual support, and innovation. Whether you’re new to trading or a seasoned professional, community involvement can provide new perspectives and opportunities in investing and trading.

How to start using TradingView

Now that you understand what TradingView is and how it works, you can utilise the vast potential of this platform. TradingView offers different versions, from the basic and free to the pro version, costing around $500 monthly. Each version provides varying levels of access to tools and data.

After creating an account, you can start personalising your workspace by configuring charts, dashboards, and indicators per your preference. Additionally, you can create your own ‘watchlist,’ a list of assets you plan to follow regularly on the right-hand side of the interface.