Reviews Tc2000 Personal Criteria Formula Language Versus Tradingview Pine Script
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In this web log post, we volition be doing a thorough review of TradingView.
TradingView is a powerful charting system for traders and investors of all feel levels. On meridian of that, it has a social network where people share ideas, custom scripts to raise charts, and prepare topic-based chats to talk over their views.
With a professional commercial information feed, it is possible to analyze prices, volume, and historic asset prices with ease. Furthermore, company fundamentals' data is too bachelor, allowing united states to screen through them and follow companies that match our criteria.
TradingView is a powerful technical assay tool for both novice and experienced investors and traders. Information technology is reliable, comprehensive, and has well-nigh of what you need day-to-24-hour interval when trading. Despite the few issues highlighted below, its relatively low price makes it a no-brainer.
Pros
Superior charting system in HTML5
Cantankerous-platform (web, iOS, and Android)
Server-side alerting system
Supports a large number of markets and exchanges
Supports many nugget classes
Backtesting trading strategies
Cons
Quality of some authors, some misleading ideas, trolling
Profiling of some asset classes like ETFs is of low quality
Perceived customer support (as per Trustpilot)
In this review, you will learn about the most of import features in TradingView. Here is the tabular array of contents to guide yous through the blog post.
Charting can exist intimidating. When I first started looking into charts, I was overwhelmed… Information technology took me a while to sympathize what all the different bits meant and how to make use of those. I needed something that would get me started, and would permit me to improve my skills as I improved.
TradingView acted exactly like that.
Who Is It For?
I encounter TradingView as a useful tool for both novice and experienced traders. It supports a wide range of asset classes, from stocks to crypto, amongst others.
Long-term investors often dismiss technical analysis and therefore might be of the opinion that tools like TradingView won't exist helpful to them. However, I retrieve it's still worth because using it since you could take advantage of some degree of technical assay in order to:
- Choose a adept entry point for your investment, since information technology can really make a difference in your returns in the futurity;
- Choose appropriate terminate-loss amounts for your investment, in line with your risk appetite;
- Empathize the long-term trends of each nugget you're thinking of buying, to brand sure yous're not investing in a business concern that has been declining heavily for a number of years.
Those iii points alone will make you a better investor and therefore avoid basic mistakes.
Start using TradingView for gratuitous
What Do I Get With TradingView?
TradingView is packed with features. I'chiliad highlighting simply the top features on offering, but check out more details on their website.
Charting
This is where you lot will spend near of your time. At first glance, TradingView's charts look simple. Don't permit that fool you. Once you input a specific asset name or ticker into their search bar and select it, the initial graph is just a quick overview. You need to click on their "Total-featured chart" push button in order to get admission to all its features.
Hither is what it looks like:
In that location is a lot to unpack here. The default graph is a candles' graph. Information technology comes with the trading book at the bottom by default, though you lot can add together more than indicators to information technology.
The free plan only allows one indicator, but with the other plans, you lot tin can add more. Cheque out their pricing to detect out more than.
At the top, nosotros can pick the type of graph we want to see, the time intervals, indicators, alerts, and financial data. These are the basic tools for united states of america to clarify the graph. Furthermore, I would like to highlight their indicators' functionality, though. Besides the dozens of congenital-in indicators, you lot can besides access indicators created by the customs, and see the underlying scripts. This community attribute is a groovy way to acquire how other more experienced traders have created their indicators, and what they are good for.
Now back to the previous image to a higher place. On the left-hand side are tools yous tin utilise to raise a graph with annotations. That could exist a trend line, a text note, a Fibonacci retracement, etc. There are dozens of useful annotations you can use, depending on how familiar y'all are with those.
On the right-paw side, we tin can build and access a lookout man list of avails, gear up up alerts, see the raw data, and community features such every bit ideas shared by others, public and private chats, etc. There is likewise real-fourth dimension news on each of the selected tickers, and a preview of its fundamentals and technical assay.
Finally, at the bottom, we can access the stock screener, examination trading strategies, and connect our broker account with TradingView, so that we can buy/sell assets from it.
As a reference betoken, my absolute basic chart layout includes volume indicators, MACD, RSI, accumulation/distribution, and the 50-day moving average. Here is how it looks:
Sometimes, though, we desire to see more than ane chart at the same time. It might be considering we want to look at different timeframes or compare charts of different assets.
Having separate tabs isn't really practical, and it'southward somewhat discouraged by TradingView since they limit the number of allowed tabs open. But fear non, TradingView allows a split up-screen with up to 8 charts in ane window. However, that might non brand sense if your screen size is small-scale, but with a big enough external monitor, it can exist handy to go on an middle on several charts at the same fourth dimension.
Information technology took me a while to find this feature, but it's definitely a fleck plus for me.
Screeners
We all know a few stocks or cryptocurrencies past difficult, right? In TradingView, we can manually wait for them, but ultimately nosotros need a tool to filter through the thousands of assets out there based on our criteria. This is what screeners do.
TradingView comes with iii screeners: stocks, forex, and cryptocurrencies. The stock filter also allows the states to choose ETFs on top of common and preferred stocks, which non all screeners practice.
In that location are endless filtering options. The peak-level filter is the country, which impacts the exchanges we use. And so, too the traditional filters on central data, similar market capitalization, for example, at that place are filters based on technical indicators too. We could filter stocks with an oversold RSI indicator, equally an case, if we're looking for a sign of a potential rebound.
Screeners also include TradingView'southward rating, which varies from strong sell to strong buy. Those ratings are measured based on a number of technical indicators and are very prominent in the technical details section of individual stocks. More on this in the technical analysis section below.
Finally, we tin can also cull from dozens and dozens of cavalcade types, which once again enhances the data with pretty much every information we need. It's possible to either use their table interface or alternatively download the resulting screener data as a CSV.
Overall, I detect the screeners quite powerful, particularly when combined with the chart view for quick access.
Server-Side Alerts
So at present you're post-obit a bunch of assets, similar stocks. That'south bully but equally stressful. How do nosotros proceed track of all those support and resistance levels? What if we plough around and miss a practiced buy opportunity?
TradingView solves this with server-side alerts. With this feature, we tin can gear up price alerts on individual avails and become notified on any of their platforms when the current cost hits that defined amount.
Each alert is highly configurable. We can:
- Setup on-off alerts or recurring ones;
- Choose a specific price or a % move;
- Ready a webhook and have an external application act on information technology too, but that might require some evolution attempt.
I use alerts all the time, in item when I identified specific entry or exit points.
Still, be mindful that all plans have a hard limit on the number of alerts you tin can set up, and until when they will last.
Did y'all ever feel similar you would like to double-check your assumptions with someone more experienced, in society to validate them? Or check what others are using in their technical analysis?
The best mode to better is by learning with others. TradingView allows us to do that via theirIdeas feature. It is a way for us to share our assumptions with other traders, and get feedback from them. We tin as well explore literally thousands of ideas from other traders and investors, and learn from them. If their ideas are consistently playing out as they look, you got yourself a mentor yous can acquire from.
This was central when I started trading. I read books and did some rudimentary assay, just I missed a lot of nuances that made my trades less successful. The practical aspect of it was important, and to meet what others did besides. I needed a community of traders to learn from.
Besides technical analysis, ideas in TradingView tin can be used for other purposes. It'due south possible to create ideas around risk management, trading plans, short/long positions, and so on. Each asset has meridian authors and elevation ideas associated with them, which makes it easier to choose whom to follow for the best content. Hither is an case:
Despite this being a great tool, it has its drawbacks equally well. On 1 hand, information technology's neat to have admission to millions of other traders and investors and learn from their ideas and chats. But on the other manus, the curation is not quite upward-to-scratch, meaning you'll find a few trolls forth the mode.
This is actually an aspect I recollect TradingView should improve because information technology can exist such a powerful tool for people to acquire how to use technical analysis in their favor. So far, I have managed to ignore trolls and other users that actively mislead with their ideas, but it takes some knowledge to exist able to differentiate betwixt a genuine idea and ane that's not worth looking into.
Scripts
The default indicators are non enough for you lot, you say? Then, this feature is for you. TradingView developed its ain scripting language, chosen Pine Script, that allows us to create custom indicators and plot them in our charts.
Since TradingView focuses on the social aspect of trading, you tin can likewise share your custom-built indicators with the community and become feedback on them. When looking for indicators in the full-featured chart page, you will see both the built-in ones and the ones created by the community, in the public library.
I haven't tried this feature myself, only take had used custom-built indicators by other traders.
Markets
With TradingView, we have access to a broad gear up of market data on stocks, futures, commodities, forex, CFDs, and cryptocurrencies such as bitcoin. Most of the major indices are covered and in that location are over 50+ exchanges and data feeds available for us to slice into custom time intervals as needed. On top of that, TradingView as well exposes primal and economic data, which is quite useful to investors.
Here is an example widget that shows data on several unlike markets and indexes:
The market place information is pretty comprehensive and I haven't seen anything glaringly missing.
Banker Integrations
Be mindful that TradingView is not a trading platform per se. They do back up a number of brokers that you tin can connect to it in order to perform buy/sell orders, but if your broker is not supported, you might not exist able to perform live trading on the platform.
As of September 2021, the brokers supported are:
- TradeStation
- OANDA
- FOREXcom
- FXCM
- Alpaca
- Gemini
- AMP
- CQG FCMs (full listing)
- iBroker
- Saxo Group
- Tradovate
- HitBTC
- WH Selfinvest
- Alor
- IronBeam
- Tiger Brokers
- Capitalcom
- Currencycom
- Chaka
- Tickmill
- Global Prime.
Fundamentals
Even though TradingView is more geared towards technical analysis, information technology likewise includes a number of features and data on company fundamentals.
Their data enables insights into how companies are doing beyond just their stock price.
It is also possible to plot primal data on whatever chart, which allows investors to chart relevant fiscal data against stock prices and exercise their analysis. In applied terms, that means it's possible to see, in a chart, the correlation betwixt metrics like revenue and stock price.
Technical Indicator Gauge
Technical analysis is at the core of what TradingView offers. For every ticker, they keep track of several oscillators, moving averages, and pivots. That, together with timeframes, allows them to offer a quick preview of each company'southward stock toll.
They are and so able to display real-time ratings for the selected timeframes for each nugget. Those ratings are Strong Sell, Sell, Neutral, Buy, and Stiff Purchase.
They use several moving averages, both simple and exponential, and oscillators such as Relative Strength Index (RSI), MACD, Stochastic %K, amidst others.
A Look Into TradingView's Competitors
There are lots of competitor charting tools out there, probably starting with your banker's systems. Just not all charting tools are created equal.
Nigh competitors fall into 2 categories: application-based tools and web-based tools. I have split them into two because their feature fix and pricing models differ quite substantially, and it's easier to empathize the differences this manner.
Application-Based Tools
In this category, near competitors are not web-based, meaning they require the user to install an application on the computer in order to merchandise. Hither is how they compare:
| Tool | TradingView iv.8 | MetaStock 3.vii | Worden TC200 3.9 | eSignal 3.8 |
|---|---|---|---|---|
| Platform | All (web-based) | Windows just | Natively on Windows | Windows only |
| Data included? | Yeah, included in the price | At extra cost | At extra cost | At extra cost |
| Pricing Model | Subscription | Subscription and one-off fee | Subscription | Subscription |
| Charts | Fantabulous | Excellent | Splendid | First-class |
| Training | Via weblog and ideas | Paid-for only | Free and paid-for | Free videos only |
| Banker | Via integration just | Via integration only | Provides brokerage solution | Via integration only |
| Fundamentals | Comprehensive | Comprehensive | Comprehensive | Comprehensive |
| Real-time news | Via Kiplinger and other sources | Via Reuters | Paid-for | Paid-for |
| Toll | $ | $$$$ | $$$ | $$$ |
Unless y'all're trading something very specific similar FOREX, or have any special needs that TradingView doesn't support, I would recommend you lot choose TradingView. The price of the other systems can be orders of magnitude higher than TradingView.
Spider web-Based Tools
In the list below, I'm comparison spider web-based applications with TradingView. This is a more than similar-for-similar comparing:
| Tool | TradingView 4.eight | StockCharts iii.9 | FinViz four.v | TrendSpider iv.vi |
|---|---|---|---|---|
| Platform | All (spider web-based) | All (web-based) | All (web-based) | All (spider web-based) |
| Data included? | Yes, included in the price | Us data for free, the rest is paid for | Yes, included in the price | U.s. data only |
| Pricing Model | Subscription | Subscription with add-ons | Subscription | Subscription |
| Charts | Splendid | Good (no trend lines available) | Cracking | Excellent (with AI included) |
| Training | Via web log and ideas | Via articles, academy, and videos | Not available | Via videos, webinars, 1-one preparation, and blog |
| Banker | Via integration but | Not bachelor | Not available | Not available |
| Fundamentals | Comprehensive | Good | Splendid | Not available |
| Real-fourth dimension news | Via Kiplinger and other sources | Via authors | Via several sources | Non available |
| Cost | $ | $$$ | $$ | $$ |
As you can see from the table above, TrendSpider is the tool that comes closer, closely followed by Finviz then Stockcharts.
If you desire to larn more than well-nigh Finviz, hither is our comprehensive review.
As well worth mentioning is Yahoo! Finance, which is free for the about part, and includes lots of information on fundamentals, but equally an avant-garde chart for technical assay. It's a skilful way to get started, merely definitely non every bit feature-rich as its competitors.
TradingView Pricing
While the basic features of TradingView are free to apply, they practise offer iii upgrade plans for advanced users: Pro, Pro+, and Premium.
It's great that they have a costless version. Information technology allows people to expect around and meet what their product can offer. However, information technology'south quite limited and I wouldn't be able to use it for any serious trading.
Then, the two pro plans: Pro and Pro+. The principal divergence between those is the number of things you can use. For example, with Pro+, you can use TradingView on more devices, save more chart layouts, employ more indicators per chart, more alerts, etc.
Finally, the Premium plan includes absolutely everything. Upward to 25 indicators per chart, up to 8 charts in one window, 400 server-side alerts, second-based intervals, and much more.
The annual fee is cheaper than the monthly fee, which is pretty standard, and both the pro and pro+ look very reasonably priced given what the tool enables u.s. to practice.
Final Thoughts on TradingView
TradingView has been an essential tool in my toolbox. I don't trade via it, considering my broker isn't supported, just its superior features allow me to do all my analysis earlier I execute orders on my broker'south website. It is reliable, comprehensive, and has most of what I demand day-to-day when trading.
Given the relatively depression price, I think this is a no-brainer, despite the few issues I highlighted above.
Start using TradingView for gratis
FAQs
Hither are a number of FAQs that summarize some of the points fabricated throughout this article.
What is TradingView?
TradingView is a powerful charting system for traders and investors of all experience levels. On top of that, it has a social network where people share ideas, scripts, and ready upward topic-based chats to discuss their views.
With a professional person commercial data feed, it is possible to analyze prices, volume and celebrated nugget prices with ease. Furthermore, company fundamentals' data is also bachelor, allowing united states of america to screen through them and follow companies that match our criteria.
Who is TradingView for?
TradingView is a useful tool for both novice and experienced traders. It'southward extremely simple to utilise for those getting started in technical analysis, and at the same time, it includes most indicators and technical analysis tools an experienced trader needs.
What do nosotros become with TradingView?
The almost of import features of TradingView are:
– a powerful charting system;
– a comprehensive screener for stocks and cryptocurrencies;
– server-slide alerting so you lot're notified of price changes;
– a strong customs that shares trading and investment ideas;
– customizable scripts to create custom indicators;
– broker integration supporting more than 10 brokers;
– admission to many different markets around the world.
How does TradingView compare with other tools?
TradingView is by far the best tool when compared with awarding-based competitors, and it's still one of the best tools when compared with spider web-based tools.
How much does TradingView cost?
There are four pricing options on TradingView. It's great that they have a free version. Information technology allows people to look around and see what their product can offer. It's very express and I wouldn't be able to employ information technology for any serious trading. Their Pro plan costs around $150 a yr, pro+ costs less than $300 a twelvemonth, and the premium plan costs less than $600 a year.
Is TradingView free?
TradingView has a free plan, which allows users to browse the platform and empathize what it tin can do for them. However, you shouldn't rely on the free version for technical analysis as it'southward adequately limited in terms of functionality.
Is TradingView in real-fourth dimension?
Aye, with TradingView you get direct access to all major stock exchanges, global currency pairs, worldwide indexes, crypto exchanges, and more. From any device, anywhere, and in existent-time.
How to get TradingView Pro for free?
Open an account with FXCM and get TradingView Pro for free for one twelvemonth.
Practice you have any questions about TradingView? Allow us know in the comments beneath!
Source: https://finmasters.com/tradingview-review/