If I were to carry a survey, the majority of traders will have a preference for TradingView.com charting tool.
I have used many trading platforms in my trading career.
One constant issue that traders have is to have an all-around great tool for charting stocks.
Most brokers have platforms that come with a charting tool of some type.
However, it has been my experience talking to numerous traders that they tend to have an “outside” charting tool.
So I am providing below the TradingView review of its web-based Charting tool.
IS TRADINGVIEW ANY GOOD ?
As we discussed in a previous chapter, technical analysis is a key component of any methodology.
Therefore, it is crucial for traders to be comfortable with the features of the charting tools.
One of the best charting tools is from TradingView website.
Below are the reasons that make TradingView my charting tool of choice.
FEATURES OF TRADINGVIEW TOOL
TradingView has a community of over 5 Million traders .
They provide real-time trading quotes on numerous instruments ranging from equities in the US to commodities markets across the world.
The view below displays quotations from majors indexes on the Top.
One can easily access the different sections from the meu : Ideas | Markets | Scripts | Screener | Streams | Brokers | Chart | More
The tool comes in a free version with basic technical indicators.
You will be limited to 3 indicators per chart on the free version.
TradingView Stock Screener
The Stock Screener area aim to mix fundamental and technical views of over 7200 US stocks.
Performance over multiple time frames are offered next to income statement, balance sheet, dividends, margins and valuation.
The beauty of this is that the information is not limited to US markets only.
One can obtain similar data through filters on 50 other countries.
As an example, Nigeria has 126 equities out of which Dangote Cement PLC (Ticker:DANGCEM) carries the highest valuation at 2385 Billion as of this writing.
Tradingview Demo/Paper Trading Account
It also gives the ability to learn how to trade on the Paper Trading account, which is very important for beginners.
There is an economic calendar , a news feed and even a selection of shows to boot.
The shows are from some big known personalities in the finance space who provide their opinions on today’s markets.
IS TRADINGVIEW GOOD FOR DAY TRADING: FANCY ALERTS
Traders can setup 12 different types of alerts on this platform.
The basic alert is when a condition is met on an indicator or a price crossing a preset threshold.
For instance, “Alert me when company XYZ goes above $100” or “when the price of Adobe goes outside its upper Bollinger bands”.
It is worth mentioning that there is a whole section on fancy drawing tools on which alerts can be applied as well.
Along with the alerts, there is this internal section I really enjoy called What’s new.
It looks like this.
I find it very convenient to learn about the latest features and improvements to the tool.
As you can see on this recent capture on the screen above, their development team is quite busy always bringing new items.
The December 24, 2019 example for VWAP is really quite nice because this indicator is a very important one for a lot of traders.
TRADINGVIEW REVIEW: IDEAS THROUGH COLLABORATION
Traders have the ability to create trading ideas, share them with fellow traders.
They can then learn through collaboration through posting of charts with annotations.
The section dedicated to trading ideas for any security in the world: Stocks, Futures, Forex, Crypto, Commodities.
Each trade idea can be a prediction, an analysis or a set-up based on current market conditions.
The ideas can be shared with video or just a standard candlestick chart as shown on the chart below.
A play button enables you to see the results of the predictions thus making it very valuable in measuring the accuracy of such predictions.
It displays the Top authors and an indication on the level of engagement their ideas have generated from the trading community.
You can sort the authors by day, week month or all time to get a sense for consistency.
Then it is possible to follow authors based on your level of interest to their ideas (sectors of the market they specialize in) or their reputation Ranking.
Through my experience, I notice that there are a bit too many ideas related to Bitcoin and Forex compared to standard equities.
This area mostly focus on technical analysis. Learning about tools, trading methods and analysis methodologies is the quintessence of this area.
If you would like to master a specific type of pattern(s), this is the place for you to do so by witnessing the work of those work are doing it successfully.
Here are some of the area of technical analysis available:
- Trend Analysis
- Harmonic Patterns
- Chart Patterns
- Technical Indicators
- Wave Analysis
FEATURED BROKERS (NEW)
Recently in last quarter of 2019, the platform started featuring Top Brokers.
One of them, TradeStation caught my attention because it has a $0 minimum deposit and they are offering Tradingview Pro version for free !
I will be doing further research on t in the near future. I shall keep you posted.
Let me mention the others by order of appearance: AMP Global, Alpaca, Oanda, Forex.com and Tradovate.
No all of them offer options trading.
Therefore, I may not find value in most of them until they start providing that service.
HOW TO USE TRADINGVIEW IN YOUR OPTIONS TRADING ?
This is the tool I use when I am day trading stocks Options or sing trading really.
I usually have several tabs opened on a single window.
Typically, I have a few charts for my Watch list pinned on the browser window so that I can quickly toggle back and forth between different stocks or between different timelines.
Here is an introduction video to help you navigate through the Tradingview Charting tool.
One can customize the background screen with a color of one’s choice and save it as a template so that it automatically load sup with the trader’s favorite settings each time.
This is what I like most about it. All my default indicators are plotted once for all and I do not waste any time every morning from my daily routine.
The tool comes initially with a free version with limited features of course.
The company provides a 30-day free trial of the any of the paid versions that come with all the belts and whistles.
I have been using the free version for many years.
The reason is that I use very basic indicators in my trading methodology.
For traders who need more advanced indicators, there is a monthly subscription for the PRO, PRO+ and Premium packages as shown below.
TradingView Pro vs Pro+
Here are the main differences between the two versions.
The Pro+ offers 10 indicators per chart versus only 5 indicators for the Pro.
According to TradingView own internal survey, here are the three most important reasons why people upgrade to Pro+:
- Multiple Charts Layout – Up to 4 charts per tab
- More Indicators per chart – Up to 10
- Custom Time Intervals – Such as 12 minutes and 7 hours per candle bar
Also, the numbers of alerts on price and drawings goes from 10 to 30 when upgrading to the Pro+ version.
Unless you are a really big shot trader, there is very little incentive in paying twice the price for these small differences.
Here is a Live Chart with some of the features I have on my Pro Subscription.
As for Premium, the numbers of indicators per chart jumps to 25 while the number of alerts limit goes all the way to 200.
By my experience, it is quite difficult to manage a daily watch list of 25 stocks.
Therefore, the need to have 200 active alerts is really not something most of you may have at this time.
Aside from this web-based version, Tradingview also provides mobile Apps for both Android and iOs.
Is Tradingview Premium A Scam ?
Far from me to convey the idea that the premium version is not worth its price.
However, certainly for most beginners, it is not worth it.
I see value in this version for veterans traders who are capable of managing very large Watchlists and thus have the need for over 30 alerts than can stay active over 60 days.
For the rest of us Day and Swing traders, Tradingview Pro+ can get the job done.
I hope you found value in this web-based TradingView.com review.
Here is a Link to try out for yourself and decide if it fits your current trading needs.
Feel free to leave your comments below and let me know if you would like to share your own review.
20 thoughts on “TradingView Review”
Thanks for sharing all the information about Tradingview Charting Tool. It sounds like it’s got some solid features to help with technical stock analysis. It’s great to know that the free version is viable and not a limited waste of time! Do you think that with this tool you will forever stay on the free plan or do you see yourself maybe upgrading at some threshold?
I Good evening Aly,
I have a methodology for trading stocks options that do not require a fancy
charting tool as this time.
But if i was ever to need one, TradingView.com will certainly be # 1 on my list.
Hello, this has been a question that I have wanted to ask about trading stocks online. I see that the trading view platform really gives an opportunity to people who own the platform to get indicators. I knew about some platforms that give signs just like for Bitcoin too. I am also happy that there is a free plan as well. To what extent do you think that the subscription based plan differs from the free plan and what will I get in premium for it.
Well, the premium plans come with one big feature: real-time quotes which is essential in stock trading.
Along with that, are the many more complex indicators a trader can put on a single chart. The free version only allows 3 indicators vs. 25 indicators for the Premium for instance.
There are also trading templates traders like to setup so that they do not waste time every day going through that routine. I almost forgot about the alerts which are limited on the free version.
Thank you for your post. I am interested in the stock trading and would like to follow some program, but never take time to do the investigation.
Here comes your article. I can see that you are an experienced stock trader and have used many trading platforms in your trading career. I agree with you that stock traders have to have an all-around great tools for charting stocks.
TradingView charting tool sounds a good system, I bookmarked your webpage and will study it in detail. It is kind of you sharing this valuable information with us. I wish I find the nice program to make me a successful stock trader.
Glad to hear that the information was useful to you.
I hope you take advantage of our full series of article around
trading stocks and Options.
Our primary goal is to provide options trading tutorials to beginners like yourself.
We are doing so through this blog and our actual Best Options Strategies we post at
this location on Youtube.
Should you have any questions, please reach out to us with your contact and we will gladly reply.
Until then, take care.
Hello; Trading view review. What is the big deal about the trading chart review? Supposed I am trading and I do not have a trading review charting tool, would that caused me to lose trades?
I have read through your article and feel like I was learning something new. That’s why I ask the questions
TradingView charting tool is one of those tools that many traders tend to adopt even though they are trading on a different stock trading platform. That is how popular this tool has become.
Glad to see that the article was of value to you.
Wow! I love this review. TradingView is really lovely. You have been using TradingView for many years? This simply means TradingView view must have been meeting the needs in good quality for which it is being used. The basic plan seems to have a really great value attached to it. This is definitely awesome.
My experience with TradingView charting tool goes back to 2015.
The free version is enough for me as i really focus on Strategies i
know are effective based on my methodology.
Thanks for stopping by.
TradingView community is extremely large (over 5m traders?) This shows the level of trust the community has in the platform and Its services. I love the feature which is learning through collaboration through posting of charts with annotations.
I don’t know much about TradingView before now, but I think I am loving it really hard…
Glad you found value in our article.
Thank you for stopping by.
For you to be able to lodge down a recommendation, then that means that this platform has really worked perfectly. I am really happy because this trading view is really going to help me with my own stocks when I finally start on analysis. It is a good thing that many people are using it now which shows that it is effective. Like you, I will be using the free version. Thank you for the info on the platform.
Thanks for stopping by John,
Glad you were able to find this TradingView review very helpful.
I am an avid trader and I am quite excited about earning via investment trading. I usually make my buy or sell moves after reading analyses by my favourite reporters and in discussion with my fellow traders. I have never used a charting tool to help my decisions and I see where I could be at a distinct advantage if I used one. Thanks for the intoduction. It is something worth considering.
How are you doing,
It is good to collaborate with your fellow traders but you can be more empowered by performing your own analysis with this tool and that way you can bring something to the table to contribute to the discussion with you friends.
What do you think ?
Thank you for stopping by to leave us your thoughts. We really appreciate it.
Hello I must stay a big thank for this awesome article and I know it would be of great help to the public as it has been of help to me I would definitely try this one out as I have been looking for some like this for a long time I would definitely save this article for later reading.but do you think that this tool would remain on a free level?
Greetings my friend Feji,
Glad to read that you discovered a new charting tool through this article today.
Regarding your question, I would say YES because there is a very last community of users already established so it is difficult to alienate all of them by not offering the free version.
Thank you for stopping by and giving us your feedback. We appreciate it. See you next time.
I believe that to be successful through trading, we need good and accurate tools. Thus, the steps we take are not wrong.
And very interesting for a review of this TradingView. But, before I dare to buy the pro version of this product, how do you recommend doing this?
Plus, when I look at the comparison between the “Free” and “Pro” versions there is a very significant difference, especially the Indicator on Indicator. Can you explain this to me?
Thank you very much
Thank you for stopping and leaving us your feedback
Regarding your questions, I would suggest first getting used to the free version and then based on your trading needs, evaluate later on if the pro version would bring something to your methodology.
Hope this helps.
Have a good day.