Sidebar Menu 

Now let's move on to the sidebar menu. 

This is likely the section of the chart you'll utilize most frequently. The sidebar displays all the key features for chart annotations, such as lines, rectangles, shapes, Fibonacci studies, and more, along with some unique tools available only on TradingView. 

There are plenty of options to explore, so let's dive right in.

Starting at the top, we have the cross-hair selector. As indicated, you can use this to change your cross-hair. I prefer to stick with the default cross, but feel free to choose a different option if that doesn't suit you. Additionally, you can select the eraser tool here if you wish to remove a shape or line from the chart.

Speaking of lines, you'll likely want to add support or resistance levels or trend-lines to your chart at some point—if not, then what are you doing on a price action site? Tradingview offers a variety of lines and channels to meet your needs. To access these options, simply go to the line tab located beneath the cross-hair selector.

Almost all line types are supported, ensuring that popular options are available. While some may be less practical, such as flat top/bottom lines, it is commendable that TradingView includes additional options that traders may not typically utilize or be aware of.

Tip: Press “Ctrl” while clicking on a line or any other drawing on the chart to create an instant copy—this can be useful for quickly marking multiple support and resistance levels or supply and demand zones.

For those who utilize pitchforks in trading, the pitchfork tab offers a variety of useful tools tailored for this method.

There are numerous types of pitchfork variations available, including many that I was previously unaware of—who would have thought there were so many? You'll also come across Fibonacci and Gann analyses here, featuring spirals, wedges, and the widely-used retracements. If you're into supply and demand trading, the next tab is essential…

The Shapes feature includes all the drawing tools offered by Tradingview, including rectangles for Supply and Demand zones. You can also find circles, curves, triangles, and arcs, or you can use the brush tool for freehand drawing. Pretty cool, right?

The text tab (T) is straightforward; it allows you to add text to your chart with titles and boxes. I frequently use it for my daily analysis, but you might find it useful for marking support and resistance levels or jotting down important reminders about price.

Keep in mind that you'll need a free Tradingview account to keep your analysis on the chart. Without an account, your work will disappear once you close the site or switch to a different pair.

Now, let’s look at a few more tools.

For all you pattern traders, the patterns tab under text offers various tools for marking chart patterns. Marking complex patterns like the Gartley or ABCs can be quite tedious, but these tools simplify the process considerably.

You can also find Elliott wave tools in this tab, so check them out if you're into waves and corrections.

Now, this next tool is crucial, so pay close attention. At first glance, the Time and Prediction tab might seem like just another collection of tools. However, it houses one of Tradingview's most valuable tools: the Short Position and Long Position tool.

If you find manually calculating the risk/reward ratio, profit targets, and similar metrics tedious, you'll absolutely LOVE this tool. It visually displays the aforementioned information on the chart using lines. By adjusting these lines, you can instantly see your risk-to-reward ratio, current profit and loss, profit target, and stop-loss price above the line, making it easy to monitor changes at a glance. Instead of doing everything by hand as you usually would, you can simply set up the tool and move the lines around. It automatically provides all your data without requiring you to perform any calculations or toggle back and forth with your broker. How great is that? Here’s a quick example to illustrate how it works in real-time…

Suppose I take a long position on Eur/Gbp at 0.84000, using a simple round figure for convenience. Typically, I would need to calculate my risk-to-reward ratio manually and constantly switch between my broker and chart platform to check my open profit and loss, maximum risk, stop-loss price, and other details, which can be time-consuming, especially during active trading. However, with the tool, I can simply place it on the chart and adjust the lines to the appropriate positions.

All essential information regarding the trade is now available. It is important to utilize the appropriate tool for the specific trade type; for instance, do not use the long position tool when a short trade is active, as this will result in inaccurate level displays.

Additionally, to ensure the tool provides accurate information, it is necessary to input the account balance and trade size in the settings menu. This can be done by right-clicking the tool, selecting “Settings,” and entering the required information. The “Style” and “Visibility” tabs can be used to adjust the tool’s colors and the timeframes on which it is displayed.

The Icons tab allows for the placement of arrows, stars, and other decorative elements on the chart. A variety of icons are available to enhance chart presentation.

The lower section of the side tab features chart buttons, which enable various functions to modify or interact with the chart, such as zooming in or out, deleting, or hiding drawings.

There are only a few options available, so let's quickly go through them. The ruler icon at the top allows you to measure price changes. By dragging it from one point to another, you can see the pips, days, and weeks it took for the price to move that distance. The magnifying glass icon below (2) lets you zoom in and out of the chart, although you can also use your mouse wheel for this, making it somewhat redundant.

Tip: You can quickly access the measurement tool by holding shift and dragging your mouse.

With the Magnet feature (3), you can align objects (like lines and rectangles) to the nearest candlestick's open, high, low, and close prices (OHLC). While this may seem helpful, it often causes the cursor to stick to various elements, so it's better to leave it turned off.

The following two tools, "Lock All Drawing Tools" and "Stay In Drawing Mode," are not essential, so it is advisable to leave them unchecked.

If the chart becomes cluttered with lines, zones, and retracements, use the eye icon (5) to hide all elements; click it again to restore visibility. To remove all studies, drawings, and indicators from the chart, select the trash can icon.

Click the arrow on the right for additional options regarding what to remove.

The star icon opens the favorites menu, displaying preferred tools. The objects tree icon at the bottom provides a list of all drawings and indicators on the chart, allowing for individual hiding, deletion, and editing of each item.

To save a tool as a favorite, click the star next to it. Favorite tools will then be accessible in a separate toolbar on the chart for convenient switching during trading.