Analysis and education on TradingView charts

Basic (Free But Email Sign Up Required)

- Access to charts.

- Ads approximately every 15 minutes.

- 1 chart per tab.

- 3 indicators per chart.

- 1 saved chart layout.

- 1 indicator template.

- Stock/Forex/Crypto Screener.

- Market Replay Function (limited to daily and weekly).

- Volume Profile Indicator.

- Strategy Tester.

Pro

- Access to charts.

- No advertisements.

- 2 charts per tab.

- 5 indicators per chart.

- 5 saved chart layouts.

- Unlimited indicator templates.

- Stock/Forex/Crypto Screener.

- Market Replay Function.

- Volume Profile Indicator.

- Strategy Tester.

Premium

- Access to charts.

- No advertisements.

- 8 charts per tab.

- 25 indicators per chart.

- Unlimited saved chart layouts.

- Unlimited indicator templates.

- Stock/Forex/Crypto Screener.

- Market Replay Function.

- Volume Profile Indicator.

- Strategy Tester.

For a more detailed comparison of the features associated with each account type, refer to the TradingView website.

Important Note: Unsure if TradingView is right for you? Take advantage of the free trial… TradingView offers a 1-month free trial for all users to explore the platform and experience its features. This trial includes access to all Pro and Pro+ features, along with the paid tools mentioned later.

Understanding The Chart Window

Upon first opening TradingView, whether you have a paid account or not, you'll land on the chart window. This is the highlight of TradingView.

The chart window displays the price of a currency, stock, or commodity in graph form and includes all the tools, indicators, and options necessary for your analysis. It’s safe to say this will be the primary area where you spend most of your time.

For those who are new to this, the screen may appear cluttered with various options and tools. I felt the same way when I first started, and many of you might be thinking the same now.

However, there's no need to be concerned. Although it may seem complex initially, the chart window is actually more straightforward once you understand a few basics. This window features four tabs, each indicated by an arrow.

These tabs provide all the necessary options for chart viewing and analysis. You can add indicators, switch between different currency pairs or assets, draw lines and rectangles—useful for supply and demand strategies—and access information about currency prices and global news.

We will explore the features of each tab later, but for now, here’s a brief overview of their functions:

Top Menu (Red Arrow) 

The top menu offers fundamental options for modifying the chart, such as changing pairs, adjusting timeframes, and selecting various chart types. Start here to prepare your chart for analysis.

Chart Area (Not Marked) 

The central part of the chart where you can observe currency prices is known as the chart area. Any tools or indicators you add will appear here, and some indicators may open in a separate graph below the main chart. You can change chart settings by right-clicking and selecting “Settings.”

Left Side Menu (Red Arrow) 

Your preferred drawing tools, including rectangles, lines, and Fibonacci retracements, are located in the left side menu. There are numerous tools available, each with a drop-down list offering even more options. We’ll discuss these in greater detail later.

Right Side Menu (Red Arrow) 

The right menu is not frequently used, primarily featuring social options provided by Tradingview. However, the upper section includes some useful trading tools, like the calendar and alerts.

Bottom Menu (Red Arrow) 

For most specialized tools offered by Tradingview, navigate to the bottom menu. Here, you'll find the strategy tester and editor, along with the stock screener and notes tab.

Important Note: Unlike other online charting platforms, you don’t need to manually save your analysis on Tradingview. Everything is automatically saved to the cloud, so when you log back in, your charts will appear just as you left them.

Setting Up The Chart Area 

Don’t let the many options on Tradingview overwhelm you. It may seem like a lot, but you’ll quickly become familiar with it. I will guide you through the process step-by-step shortly, so you’ll understand what each option does and how it works.

Before we proceed with that, let’s set up your charts for trading. We only need to adjust a couple of settings, so this will be quick.

First, change the chart type to candlestick. By default, Tradingview displays a line chart, which can be useful for quickly identifying support and resistance levels. However, for regular analysis, it lacks sufficient detail about price movements. Switching to a candlestick chart will provide a clearer picture of price action.

Change the Chart Type 

Modify the chart type by clicking on the small chart icon and choosing “Candlestick” from the list that drops down.

Adjust the Chart Settings 

Now that we've addressed that, it's time to modify the chart settings. To accomplish this, access the chart menu. Right-click on an empty area within the chart and select “Settings” from the options that pop up.

 Chart Menu Options 

The chart menu offers various settings to modify the information displayed on the chart, such as colors, price lines, and tabs. There are many options available, but we only need to adjust a couple of them, so it won’t be overwhelming.

 Changing the Colour Scheme 

First, navigate to the Symbol tab and adjust the color scheme of the chart. You can stick with the default setting if you prefer, but I like to choose colors that stand out more, making it easier to track price movements.

 Recommended Setting

You don’t have to adjust this next setting, but I suggest enabling it because it simplifies identifying potential price reversal points.

 Importance of Round Numbers

As many of you know, I’m a BIG advocate for significant round number levels – prices that end in 500 and 0000. In my opinion, they provide some of the most robust support and resistance levels in the market, with many major reversals occurring after the price touches or approaches these levels.

 Simplifying the Process

Identifying these levels doesn’t take much time, but marking each one accurately can become tedious quickly.

However, by changing the Horizontal Grid Lines setting in the appearance tab to black – or any color you prefer – the chart will automatically highlight every significant round number level for you, eliminating the need for manual marking.