Tradingview Chart Guide
Tradingview chart is an online graphical interface that is used by more than 30 million retail traders and institutional investors worldwide. It analyzes multiple financial markets and asset classes. However, it also supports stocks, currencies, indices, cryptocurrencies, futures, and bonds. In fact, the Tradingview chart represents a useful analytical tool for both beginner and professional traders. It is reliable, practical, and it covers almost the essential needs of our platform courses when trading.
Tradingview chart FAQ
What is a Tradingview chart ?
The Tradingview chart is a straightforward tool that can help traders to check all share prices live daily. This financial instrument includes stocks, cryptocurrencies trading, currencies, indices, futures, and bonds. In fact, he represents a good choice for technical analysis. Not only for his comprehensive and readable visual interface but also for his updated information and multi-function instruments. However, this powerful charting tool comes with a lot of features that can help traders to analyze and track different markets efficiently.
Moreover, Tradingview defines a social network devoted to the constant changes in the market. He delivers fast information about stock exchanges and transactions. While using it, we will feel like we already know how to use it perfectly. Because it is simple and well-organized. Also, it provides impressive security together with the ease of navigation between the different sections of the web. Hence, it represents an amazing platform that offers an excellent user experience.
For this reason, we will try to go over everything traders may need to know about the Tradingview chart during this course.
How to use it ?
The Tradingview chart works with all modern browsers. Simply, we can open the platform and start charting. But, before beginning, I want to walk you through the TradingView interface and discover its functionalities.
To make it easier, we have clarified in the image above the major sections of the Tradingview charting interface. In fact, the platform allows us to fully control and modify the interface starting from:
Basic settings
So, if we press the button on the top left corner, it will appear a menu list that enables us to change some important and basic features like “Language” or ” Theme”, or also make a “quick search”.
Chart settings
Actually, the moment we open the platform, it will come with the default settings. So to change the style and adjust the template to the way we want (in terms of colors, background…), we can “right-click” then “Settings”. Or we can simply click on the “chart properties” button, to display a menu list “chart settings” where we can modify the symbol, the status line, scales, appearance.. etc. Also, we can delete or undo any modification we do on the chart by pressing “ctrl+z” or using the undo button.
In effect, there are way more options in that right-click menu, but if we will explain every single item, we’d be here for a whole day. That is why we will stick to the most useful features.
Important note: If you’re not sure what each box actually refers to, we suggest just ticking and unticking the boxes. This way we will know what is the modifications that have been made to the graph.
After we set up our Tradingview chart, we should focus on choosing the market and the asset that we want to trade it. Thus, we should consider the top toolbar where we can find these items.
The top toolbar
The top toolbar of the Tradingview chart contains the basic items such as; symbols, time frames, types of charts, indicators, layouts, etc… Each of these fundamental items defines a trading style. So, every trader must choose carefully the parameters that suit and reflect his vision. Thereby, let’s take a look at how to use these items.
Symbol
As we mentioned earlier, the platform supports all types of markets and assets; Stock, Forex, Crypto, Index, etc… So to pick the appropriate symbol, we can simply click on the “Symbol” button.
Besides selecting the symbol, the tradingview chart permits us to customize our trading experience by choosing the accurate:
Timeframes
In order to better evaluate charts and move graphs in different periods, Tradingview allows us to select multiple timeframes. We can choose the suitable timeframe, by clicking on the button above.
Types of graphs
Equally, we can choose the type of chart that suits our trading style (Bars, candles, lines… etc). So, here’s an image that clarifies how to select the two parameters.
The next feature in the top toolbar is arguably the most preferred one. So, let’s discover it and see how we can use it properly.
Indicators
Actually, it contains a list of all the advanced tools usually used in trading. So, with a simple click on the “indicators” button, we will display the “indicators, metrics & strategies” box where the main alternatives are:
- My scripts
This feature is dedicated to users who want to design and build their own custom indicators and strategies. Hence, using the “Pine script editor”, we can code and develop our unique systems.
- Technicals
In this part, we will learn how to insert an indicator or a strategy. First, we should click on the “indicators” button and then the “indicators, metrics & strategies” window will appear. thus, by clicking on “technicals”, indicators and strategies lists will pop up, as shown in the image below. At this point, we can insert any wanted indicator with a click. Also, we can look for a specific indicator by typing his name in the “search box”. However, we should know that all the displayed indicators in the list are default ones and not customized.
For instance, after we insert the Accumulation distribution indicator we can adjust it to our own preference by a double click on it. The settings box would appear and we can modify whatever we want. As shown in the picture below.
- Financials
By selecting “Financials”, we can get some important data that can help us make the right trading decisions. This feature delivers fundamental information about the different markets like:
- Income statement
- Balance sheet
- Cash flow
- Statistics
- Community scripts
The community scripts represent a public library where users can upload their own custom indicators and strategies to the Tradingview chart. We should take into consideration that all the posted scripts are created by other traders and not from the default trading system.
Save layouts
This feature allows us to save our modified charts and any customization that we have done to graphs.
Let’s move on right now and talk about the left side where we can find the commonly used charting tools.
Drawing tools
The left toolbar is the most used section in the Tradingview chart because it houses all the drawing tools. As a matter of fact, the drawing tools represent an essential component of the technical analysis. In a way, they make the technical analysis more simple and easier. In effect, we can’t make efficient decisions in the market without using some of them. So, here are some of the most used tools:
- Cursors
- Trend line tools
- Gann and Fibonacci tools
- Patterns
- Prediction and measurement tools
We can customize all the tools that we have mentioned with a “double click”, then we can adjust the style, the color, the visibility…etc.
The Tradingview platform tries to create a unique ecosystem for traders by offering valuable services. Which we can notice if we look at the tools on the right side of the Tradingview chart.
The right toolbar
In the right toolbar, we can find currency pairs and watch lists, as well as some handy features like alerts, news, and social tools.
- Watchlist and details: a tab that delivers information about the most important symbols, last quotations, changes, day’s range, performance, etc… we can create a personalized watchlist that suits our own preference by adding symbols and selecting specific items and options that we want to use.
- Alerts: We can add an alert and receive immediate notifications when certain conditions are fulfilled.
- News: This section is devoted to delivering important announcements and headlines.
- The economic calendar: includes the most influential scheduled events and affairs that can impact the markets and affect prices.
- Public chat: It is a place where different users can interact with each other by expressing ideas and thoughts about shared subjects.
The bottom toolbar
The bottom toolbar is mainly used for notes and testing “Strategy tester”. He includes also some advanced features like the “Pine Editor” and the “Screener”. On the other side, we can enter trades directly from Tradingview if we connect to our forex broker account using the “Trading Panel”.
Tradingview screener
The Tradingview screener represents an excellent indicator of performance and trend following. He can help us in scanning markets and making the best trading decisions. In fact, the Tradingview screener gives us the possibility to scan three types of markets:
- Stock market
- Forex market
- Crypto market
After choosing the wanted market and the type of screener ( stock/Forex/ Crypto), we can filter it for more efficient results. So, by clicking on the blue button “Filter”, a window will pop up that contains different parameters like descriptive ones, financials, and Technical. Each user will tick the items and customize the scan to his own preference.
Tradingview strategy tester
The strategy tester represents an important tool for users who trades depending on their own scripted systems. Hence, before starting using a customized strategy, traders should apply it to the chart and test it by using the symbol and timeframe that they want. Otherwise, we can use a built-in strategy from the “indicators & strategies” list or write our own systems in “Pine Editor”. However, this Tradingview chart feature will protect us from losing money by relying on a non-tested strategy.
How to analyze charts using TradingView ?
TradingView charts can be analyzed using various tools.
Choose a trading instrument on Tradingview charts
To choose the financial instrument you’re interested in, start by loading it from the symbol search. This can be done by accessing the upper left corner of the TradingView platform. Once there, click on the currently loaded instrument, which will bring up a pop-up containing the same pair from different brokers on TradingView. Then, you can choose your preferred instrument from the list or search for it manually. If you have open trades, you can quickly load their chart by simply clicking on them.
Choose the timeframe and the chart type
First, choose a timeframe that suits your trading strategy. TradingView offers a range of timeframes, from seconds to months. Then, pick up your chart type preference. To clarify, TradingView offers several chart types, such as candlestick, line, and bar charts. Finally, Choose the chart type that best suits your technical analysis.
Identify the trend direction and patterns
Look for patterns on the trading chart to identify the trend. This can be done using multiple tools. Such as moving averages, candlestick chart patterns, trend lines, or any other technical indicators. In order to provide clues about future price movements.
Use Tradingview technical indicators
TradingView offers a range of technical indicators, such as RVI, MACD, RSI, and Bollinger Bands. Use these valuable indicators to confirm your analysis.
Monitor Trading News and Events
Hold an eye on trading news and events that could impact the financial market. Such as economic reports that highly influence the forex market. Also, earnings releases highly affect stocks and indexes.
Overall, the key to analyzing TradingView charts is to use a combination of technical analysis tools, such as indicators, and fundamental analysis tools, such as news and events, to make informed trading decisions.
How to read it?
Like any trading chart, the Tradingview chart shows how the price in the market changes over time. It represents an excellent platform to follow markets quotations and live updates. So, here’s an image of a tradingview chart that can help us to learn how to read it. (all the items are numbered).
But first, we need to know that the price is plotted on the vertical axis (blue vertical line), while the horizontal line (blue horizontal axis) shows the time. Also, it is essential to know that each candle indicates the price movement over the timeframe that we choose.
- Bid price: the current “sell price”
- Ask price: the current “buy price”
- the current trading volume
- O: open price / H: high price / L: low price / C: close piece => For every candlestick
- The current asset price
- Green (red) candlestick: the asset price increase (decrease).
- Volume bars: Each bar indicate the volume of a candlestick.
How to zoom Tradingview chart ?
One of the most Tradingview charting problems that face users is the zoom issues. This feature is very necessary for any trader because it allows him to enlarge and clearly see any specified chart area. Actually, there are many simple manners to use this tool. In a way, we can simply use the ” zoom in/out” button at the left toolbar then select the zone of the chart that we want to enlarge. (As displayed in the example below). On the other way, we can click “Ctrl+” to zoom in and “Ctrl-” to zoom out. This way we will maintain a stable and smooth zoom movement. In case we are using a mouse, we can zoom in/out by scrolling the mouse wheel.
Can I use TradingView Chart for free ?
Traders can use the Tradingview chart for free. In fact, the Tradingview chart is available in four main versions: a free one and 3 premium ones. However, the essential charting skills are included in the free version while subscription versions contain some advanced functionalities that are useful for professional traders and guarantee a better user experience. We can sum up the difference between free and paid versions in five major points:
- In the free version, we can use only one chart/tab at a time. While in the premium version, we can use up to 8 charts per tab.
- We can save unlimited chart layouts while using the paid version. Contrary to the free version, where we can save only one chart layout.
- When it comes to alerts, we can create an unlimited number if we are subscribers. Otherwise, we can create only one alert at a time.
- Without any registration, Tradingview allows us to use up to 3 indicators/chart. While we can insert up to 25 indicators/chart if we register.
- In contrast to the free version where ads display frequently, the premium version comes ad-free.
Tradingview charts examples
Gold example
Xvg example
Aapl example
Eurusd example
Conclusion
The Tradingview chart is one of today’s mostly used charting platforms on the web. Even in the basic form, Tradingview charts work efficiently and offer a high-level overview of numerous market performances over multiple amounts of time. However, it allows beginners and professionals traders to analyze markets in their most simple ways, through its comprehensive and easy-to-understand template. Furthermore, while providing a wide array of advanced features and tools, it guarantees an effortless charting experience for its users. Genuinely, we can’t deny that this Platform has upgraded charting industry norms.