by admin | May 6, 2024
What is TradingView?
TradingView is a web-based analytics platform that a trader can use to analyze stock markets. It creates responsive charts that can assist in understanding the current trends with indicators. In fact, you can use its built-in Pine Script to create a customized approach for charting and technical analysis of the daily market.
Let us check its exclusive features before delving into the detailed TradingView review.
Table of Contents
Key Features of TradingView
Here are a few of TradingView’s key features –
Charting
Create charts for various assets such as stocks, cryptocurrencies, forex, commodities, etc. It offers:
- 14 types of charting
- More than 20 timeframes
- Over 90 tools for drawing
- More than 100 built-in indicators
- More than 100,000 community-developed indicators
Covers more than 70 exchanges from over 50 countries
Once you enter a ticker in its search bar, a chart will appear for a quick view. This chart needs to be enlarged for a full-feature view. Once you press the ‘Full-featured Chart’, it will track and show the comprehensive chart in detail.
There are different kinds of charting. The default one is called the Candle Graph which shows the trading volume underneath. You can add indicators to a charting style. The top of a chart comprises the list of indicators you want to see on your graph. In fact, you can annotate it too.
You can choose assets to add to a watch list, set alerts, check raw data, and observe the features linked and shared by other users. Check real-time news feeds linked to the selected tickers. It will take some time to discover these features one at a time. Worry not and keep digging.
Social networking
Interact with other traders through comments, sharing ideas, and following each other’s analyses. Traders can connect with traders across the world and interact on asset-based market topics. They can share knowledge in real time and exchange trading ideas along with the advanced charting features. users can communicate via the desktop app, web-based app, and mobile app due to its cross-platform support.
Screeners
Filter and screen stocks based on predefined criteria such as price, volume, technical indicators, and fundamental data. It means you can use a TradingView screener based on the parameters and find the aimed stocks or assets easily. This app offers innumerable filtering options to help you find stocks, cryptocurrencies, and forex assets. You can even filter stocks based on RSI indicators also for make an informed decision by checking the TradingView live charts.
Server alerts
Keeping a tab on all your assets becomes a lot easier when you get server alerts from TradingView. Set price alerts to get instant notifications from this platform. You can easily configure these alerts for on-off, recurring, and percentage move operations. In fact, advanced users can connect a webhook application to these alerts to automate the action. You can learn from the TradingView virtual trading feature and implement such alert systems.
Paper trading
The TradingView paper trading feature allows new users to practice their skills by using virtual money. It is a simulation trading platform where you can use your trading strategies, opinions, etc without paying a dime. You can always connect and disconnect to this feature.
Trading integration
Integrate with several brokerage platforms for placing trades directly from its interface swing and day trading. Users can join the TradingView ecosystem and interact with brokers. They can place and manage trading orders from charts on a real-time basis. It also offers the Rest Web API that connects more than 50 broker firms worldwide with your trading backend interface. It does not seek platform commissions, high-performance front end, or cost of leads. Users can also recognize as brokers with credibility and reviews.
Pine script
Its Pine Script allows you to create custom indicators and strategies. These personalized indicators will assist in making the right decisions at the right time. Hence, algo trading with TradingView is an easy effort where you can customize the indicators of your account.
Collaborate with brokers
This trading platform is a marketplace where you can find brokers. But, you can connect with users who work like brokers and take orders. You can collaborate and buy/sell orders live.
People Also Read:- Best Paper Trading Apps In India
Who can use TradingView?
As per the user reviews of the TradingView app, it might be a little confusing for newbie users. Learning how to chart comprises a steep learning curve. It will take time to understand the titbits but a novice trader can use it efficiently in the long run.
It supports a wide range of investment assets covering cryptocurrencies, stocks, etc. So, this tool is ideal for day and swing trading. Advanced users emphasize that long-term traders can make good use of this web-based app. Its in-depth technical analysis may help those traders make informed decisions. Here is how they can be advantageous amidst the dynamism of a stock market.
- Traders can choose a promising entry point for investing in stocks and other assets.
- They can analyze and find out the expected return before investing.
- Set a stop-loss amount level for investments aligning with your risk-taking level.
- Technically analyze and understand the long-term trends for every enlisted asset on this app before buying.
TradingView Plans and Pricing
Below is the list of TradingView plans and pricing.
| Plan | Price (billed annually) | No. of Charts | Indicators/chart | Historical Bars | Price alerts | Technical alerts | Parallel chart connections |
| Free | Free (one month for all plans) | Based on plans | Based on plans | Based on plans | Based on plans | Based on plans | Based on plans |
| Essential (non-professional) | INR 995/month | 2 | 5 | 10,000 | 20 | 20 | 10 |
| Plus(non-professional) | INR 1,995/month | 4 | 10 | 10.000 | 100 | 100 | 20 |
| Premium(non-professional) | INR 3,995/month | 8 | 25 | 20,000 | 400 | 400 | 50 |
| Expert (professional) | INR 16,333/month | 10 | 30 | 25,000 | 600 | 600 | 80 |
| Elite (professional) | INR 28,333/month | 12 | 35 | 30,000 | 800 | 800 | 120 |
| Ultimate (professional) | INR 40,833/month | 16 | 50 | 40,000 | 1000 | 1000 | 200 |
Now the real question is whether it is worth upgrading to its paid plans. Well, the TradingView review from advanced users suggests that paid plans are more beneficial than the free plan. The added features truly make your online assisted trading ventures smoother.
As you can see, the pricing plans are quite affordable and accurate covering all kinds of users. The 30-day trial period for all these plans enables you to make the right decision. Hence, learn how to use TradingView for free by using the trial period to realize what you need before making a buying decision. Remember, the paid plans don’t come with ads. You will not be distracted by intrusive ads and can concentrate well on your trading operations daily.
Also Read:- Guide to Learn Trading
TradingView Cross-platform Use
The TradingView review from newbie and advanced users depicts that this platform can be used on multiple devices. You can perform TradingView download for PC for better viewing of charts, screeners, etc, and managing stocks.
In the same aspect, you can download and monitor your trading assets on the dedicated TradingView mobile app for Android and iOS. Access all the features as per your chosen plans in all the connected devices. Its cross-platform feature allows you to sync data and show you accurate results on a real-time basis. It means you can do trading on the go, as well as, at home with all the devices connected to a single account. Also, the system requirement to use this app is not overwhelming either.
TradingView App Rating and Download Link
Pros and Cons of Tradingview
| Pros of TradingView | Cons of TradingView |
| Supports 70+ markets from 50+ countries | Profiling features for assets limited |
| Comprises multiple asset classes | Customer support needs to be better |
| Top-notch technical analysis tools | Ideas from communities might be misleading |
| Server-side alert notification available | Very limited broker integration options |
| Cross-platform support for web, Android, and iOS devices | Features in the free plan are limited |
| Screeners for customization | |
| Pine Script for TradingView algo trading | |
| TradingView paper trading India for back-testing ideas, strategies, opinions, etc | |
| Educational resources available to learn trading from scratch |
Also Read:- Stock Trading For Beginners
The Verdict: TradingView is Ideal for Paper Trading
As per this comprehensive TradingView review, you are all set with this paper trading platform. Its comprehensive guide can help you figure out the useful trading features and begin your online journey. Define your needs by using its paper trading simulator and choose from an elaborate paid plan list. Keep tracking your trading progress from different devices with its cross-platform support. Connect with top communities to get a better knowledge of the asset trading world by using TradingView as a source.
FAQs on TradingView
Check out various FAQs related to Tradingview Review here.
Q.1. Is Tradingview really good?
Ans:- For a good reason, TradingView has a user base of 50 million, its exceptional design, reasonable pricing, and user-friendly nature. Featuring robust technical analysis tools and an intuitive interface, TradingView provides clear and dynamic charts, an extensive range of indicators and strategies, and the flexibility to craft and personalize your own trading approach.
Q.2. Can I use TradingView for free?
Ans:- TradingView offers a free plan with limited features with ads. At times, you might find the ads distracting. Hence, it is recommended to upgrade your free plan to a paid one.
Q.3. Can I do paper trading in TradingView?
Ans:- Yes. It offers a simulation platform for beginners to understand the features and tools. You can paper trading on this platform for free.
Q.4. Who can use TradingView?
Ans:- Users can use TradingView for short and long-term trading purposes. Its set of technical analysis tools can assist traders of all kinds in making data-driven decisions.
Q.5. Is TradingView safe?
Ans:- Traders and investors worldwide have found TradingView safe. It uses SSL encryption and two-factor authentication to keep your info safe from cyber threats. Its server does not allow unauthorized access.
Q.6. Is TradingView best for beginners?
Ans:- TradingView is ideal for beginners to trading. With its easy-to-use charting tools, educational content, and supportive community, it provides a valuable platform for beginners interested in learning about trading and technical analysis.
Q.7. How does TradingView compare to other tools?
Ans:- TradingView stands out as the premier tool among its application-based competitors and it is still one of the best tools when compared to web-based tools.