Mastering TradingView: A Simple Guide to Enhance Your Trading Skills

TradingView is a very popular website for trading analysis. Learn how to use TradingView and see how its tools can help you improve your investment strategies.

 Guide to Using TradingView

TradingView is easy to use and has many features. Whether you are trading forex, stocks, commodities, or crypto, understanding how TradingView's indicators work can help you trade better.

 What is TradingView?

TradingView is a research site for trading. Many brokers provide it to their clients. It started as a charting tool and has now become a more complete service. Users can see price charts of many global markets and find trading signals and indicators to help with buying and selling. TradingView also lets you compare different symbols and find good assets using its stock screener.

 What Tools Are Available on TradingView?

TradingView offers many price charts and more than 100 built-in indicators like:

- Bollinger Bands (BB): Shows how far the price of an asset is from its average.

- On Balance Volume (OBV): Compares price and trade volume to measure asset accumulation or distribution.

- Moving Averages (MA): Shows the average price change of an asset over time.

- Keltner Channel: Determines price trend direction.

There are also over 100,000 custom indicators shared by users. You can use these indicators on any chart and make notes on trading opportunities.

 How to Use TradingView

You can use TradingView's search function to find the price chart you want. You can set candles to different time frames and choose indicators from a list. There are more than 90 drawing tools available to help you annotate charts.

You can choose from different chart types:

- Candlestick charts: Shows high, low, opening, and closing prices over time.

- Baseline charts: Shows price moves compared to a reference point.

- Heikin-Ashi: A special chart type that uses modified candles to make trends easier to see.

You can also customize your dashboard layout and colors. TradingView works on both desktop and mobile devices.

 Tracking Stocks, Crypto, and Forex on TradingView

You can use TradingView to track stocks like Apple, cryptocurrencies like Bitcoin, and various currency pairs like EURUSD. The dashboard includes research and indicators based on different types of analysis.

 Tips on Using TradingView

Exploring the default indicators is a great way to understand TradingView. You can analyze stocks using metrics like volume and historical volatility. The annotation tools help you visualize price trends.

 Using TradingView on eToro

If you are an eToro client, you can easily access TradingView charts and indicators directly from the eToro platform.

 Pros and Cons

 Pros:

- Many tools for analysis.

- Covers many markets and assets.

- Easy to compare instruments.

 Cons:

- Free version has some limitations.

- Limited customer support.

- Not available with all brokers.

 Key Tips on Using TradingView

- Only live CFD accounts can access TradingView.

- All funding activities are done on the broker's platform, not TradingView.

- TradingView is available in many languages.

- You need to set your time zone manually.

 Advantages and Disadvantages of Using TradingView

Advantages:

- Advanced charting and drawing tools.

- Tools to find trading opportunities.

- Real-time data for various assets.

- Community for sharing ideas and learning.

- Custom alerts for price movements.

- Accessible on various devices.

Disadvantages:

- Some markets may not be available.

- Advanced features require payment.

- Basic plan has limited historical data.

- Some features are only available in paid plans.

- Ads on the basic package can be distracting.

 Hidden Features

There are some hidden features such as:
- Having brand new accounts
- The best layouts
- Color themes
- My advanced customization
- Multiscreen layouts
- Desktop apps
- Saving special names on the chart
- setting time frames

Final Thoughts

TradingView is a great platform for analyzing market data and helping traders decide when to buy or sell. It has many features that have improved since it started but still focuses on the same goal.