Fresh review of the chart and price platform - TradingView
What is the TradingView platform
TradingView is an in-browser platform for charting and monitoring as well as other financial assets. Its charting tools are also available for use directly in the Binance trading interface. In addition to charting, you can share your trading strategies and broadcast real-time analysis.
As for the free features, TradingView is a powerful tool for traders with any level of experience. The basic features should be enough for most of them. However, be careful when studying other users' ideas and broadcasts. It's important not to blindly follow someone else, but to find the kind of information that will add value to your own strategy.
Why use the TradingView platform?
TradingView is a platform that allows you to set up technical indicators, create charts and analyze financial assets. These indicators are patterns, lines and shapes that millions of traders use every day. TradingView is available in your browser and requires no client download. If you prefer to trade from mobile devices, you can download the iOS and Android apps. TradingView was launched in Westerville, Ohio in 2011 and today has a huge user base: eight million accounts were created in 2020 alone. Users can chart and analyze various stocks, products and more with a free or premium account. You can share the strategies and patterns you create in the community. In this way, you have the opportunity to improve your skills based on the feedback of other TradingView users.
TradingView as a social network
TradingView provides similar features to Instagram for sharing opinions and demonstrating trading strategies. On the "Ideas" and "Broadcasts" pages you can receive tips or feedback. Specifically, on the Ideas page, you'll see charts, videos, and comments from other users. Community members can also participate in discussions and chats. But remember, any user can create and share ideas, so be careful. Every trader has their own style and strategy, so don't take their posts as financial advice.
In addition, similar to your favorite player's streams on Twitch, TradingView broadcasts allow you to watch other traders create charts in real time. This additional feature is still in beta, and the amount of content is relatively small.
Strengths and weaknesses of TradingView
In terms of asset monitoring tools, TradingView is just one of many options. Most offer a similar set of charting and trading tools, but let's look at the main aspects. Some features are of course very well implemented in TradingView, but there's still room for improvement.
Advantages of HTML5 graphical tools. TradingView can run on any device with a browser. There's no need to install any software, and you can view your charts anywhere. Free registration. Anyone can access most of the site's features for free. Server-side alert system. If you set alerts, TradingView monitors them on its servers. You don't need to open TradingView to receive alerts. Binance compatibility. You cannot access Binance from TradingView, but you can use TradingView in Binance's trading interface. You can buy and sell on Binance, creating charts literally on the fly. Script. More experienced users can create their own indicators to be stored on TradingView servers. This feature works using Pine Script, TradingView's simple custom programming language. Asset Selection. A large number of stocks, securities, commodities and Forex assets are available for charting. Backtest. Once you have developed a strategy, you can easily backtest it with the built-in feature.
Disadvantages Community Suggestions. While the design of the Broadcasts and Ideas tabs is interesting, the quality of the material posted there varies markedly. Many of the tips are quite speculative and not very useful for new users. There is also occasional trolling in the comments section. Customer Support. The TradingView community often reports problems with TradingView support. Only customers with a paid subscription can contact technical support, no support is provided for users with a free account. Integration of brokerage services. Some brokers and trading platforms are integrated in TradingView, but their capabilities are still very limited. Cboe BZX data. TradingView's prices for U.S. stocks do not come directly from the relevant stock markets. For example, the source of NASDAQ stock prices is the Cboe BZX exchange, where prices may differ slightly from real prices. Real-time stock exchange data is available for an additional fee.