banner

TradingView – Market Tracker Review

img

Have you ever wondered if there’s a trading platform that can keep you ahead of the market trends while providing a vibrant community of traders for collaboration?

Let’s introduce you to TradingView, a web-based platform packed with a suite of intuitive features designed to enhance your trading decisions.

From real-time data feeds to comprehensive technical analysis tools, TradingView brings a world of trading insights to your fingertips.

But how does it fare in comparison to other trading platforms? And more importantly, is it the right tool for you?

Stick around as we unpack the details about TradingView, and you will see why it’s a name you’ll hear often in the trading community.

Key Takeaways

  • TradingView is a comprehensive charting platform used by over 30 million traders for technical analysis on stocks, cryptocurrencies, and more.
  • It offers a wide range of features including customizable charts, 100+ pre-built indicators, screeners, and server-side alerts for price notifications.
  • While the Basic (free) plan has limitations, upgrading to a paid plan is recommended for serious traders who want access to advanced features and tools.
  • TradingView has affordable pricing options, with the Pro+ plan being recommended for most traders, offering more features than the Pro plan. The Premium plan may be overkill for most traders.

What is TradingView?

Boasting a user base of over 30 million traders, TradingView is a comprehensive charting platform that allows you to chart, analyze real-time data, and predict stock price movements across various markets including stocks, ETFs, cryptocurrencies, futures, and CFDs.

You can customize charts with over 100 indicators, making it easier to spot trends and make informed decisions.

The platform isn’t just about charting; it’s a community where you can share insights, learn from other traders, and even publish your analyses.

With TradingView, you’re not trading alone but in the company of millions of others. It’s accessible on any device, and the basic plan is free, although premium features are available for a fee.

All in all, TradingView provides a powerful, collaborative environment for trading.

Key Features of TradingView

Now that you’ve grasped what TradingView is, let’s dive into the key features that make this platform a favorite among traders.

TradingView offers a comprehensive charting system with 14 types of charts, 90+ drawing tools, and 100+ pre-built indicators.

It’s also got screeners for stocks, forex, and cryptocurrencies, providing you with a wealth of data at your fingertips.

You’ll appreciate the server-side alerts for price notifications, keeping you in the loop at all times.

TradingView isn’t just a tool, it’s a community. You can share ideas and strategies with over 30 million traders worldwide.

With access to over 70 exchanges in 50+ countries, the opportunities are virtually limitless. With TradingView, you’re not just trading, you’re part of a global trading community.

Who is TradingView Best For?

Whether you’re an active trader seeking advanced charting tools or a newbie dipping your toes into investing, TradingView caters to a diverse range of trading enthusiasts.

It’s an ideal platform for those who like to perform technical analysis, as it offers a rich array of charts, indicators, and drawing tools.

If you’re a seasoned trader, you’ll appreciate the real-time data and the ability to customize your own scripts.

As a beginner, you’ll find the user-friendly interface and the community-driven idea sharing incredibly useful.

It’s also a great choice for cryptocurrency enthusiasts, given its extensive crypto coverage.

Use Cases for TradingView

Having understood who can benefit from TradingView, let’s explore some practical ways this platform can be utilized in your trading strategy.

You can utilize TradingView for technical analysis, which involves studying price movements and using statistical trends to predict future price changes.

It’s a great tool for conducting market research and keeping track of your stocks, ETFs, futures, and cryptocurrencies.

You could also use it to backtest your trading strategies using historical data, which can help you improve your decision-making process.

You can use the social networking feature to interact with other traders, share your ideas and gain insights from their strategies.

With TradingView, you have a myriad of tools and resources at your fingertips to enhance your trading experience.

Pros

Let’s dive into the advantages of TradingView, starting with its comprehensive range of features that cater to both novice and experienced traders.

You’ll appreciate its easy-to-use interface, which makes complex trading concepts more accessible. With over 100 pre-built indicators, it’s got your analysis needs covered.

TradingView is also browser-based, which means you can access it anytime, anywhere, without the need for downloads or installations.

It offers real-time data and charts for stocks, ETFs, cryptocurrencies, futures, and CFDs, giving you a wide market reach.

One standout pro is the community aspect. You can connect with other traders, share ideas and learn from their insights.

In short, TradingView equips you with tools for informed trading decisions, making it a powerful ally in your trading journey.

  • Comprehensive features for all traders.
  • Easy-to-use and accessible interface.
  • Over 100 pre-built indicators provided.
  • Browser-based for easy accessibility.
  • Real-time data for various markets.
  • A community for shared insights.
  • Powerful tools for informed trading.

Cons

Despite the many advantages of TradingView, it’s important to consider some potential drawbacks too.

For starters, the free version of TradingView comes with limitations. You’ll encounter restricted access to some advanced charting features, and the number of indicators per chart is capped.

Real-time data feeds come at an extra cost that can add up quickly. Another downside is the platform’s complexity. For novices, the sheer array of tools and settings can be quite overwhelming.

While the social trading aspect can be beneficial, it’s essential to remember that not all advice on the platform will be sound.

Customer support can sometimes be slow to respond, which could be frustrating when you need immediate help.

  • Free version of TradingView has limitations.
  • Real-time data feeds are costly.
  • Platform’s complexity can be overwhelming.
  • Social trading advice varies in quality.
  • Customer support can be slow to respond.

Alternatives to TradingView

While TradingView is a powerful tool for traders, you might also want to explore other equally robust alternatives in the market.

MetaTrader 4 and 5 are popular choices, providing comprehensive technical analysis tools and automated trading features. They’re particularly favored by forex traders.

Stockcharts is another option you may consider. It offers high-quality charts for stocks and ETFs.

For a more community-driven platform, you can check out Finviz. It provides market maps, portfolio tracking, and a forum for traders.

Lastly, Coinigy is an excellent alternative if you’re into cryptocurrency trading. It supports over 45 crypto exchanges.

  • MetaTrader
  • Stockcharts
  • Finviz
  • Coinigy

Final Verdict

When it comes to making a choice, TradingView stands out as a compelling option for both novice and experienced traders due to its feature-rich platform and interactive community.

Its intuitive interface, coupled with robust charting tools, makes it an invaluable aid in your trading journey.

You’ll appreciate the vast array of indicators and the ability to customize charts to suit your trading style.

The social aspect of TradingView sets it apart, fostering a space where traders can exchange ideas and learn from each other.

While the Basic plan offers a taste of what TradingView can do, investing in a paid plan unlocks its full potential.

Frequently Asked Questions

Does Tradingview Offer Any Educational Resources or Tutorials for Beginners?

Yes, you’ll find TradingView provides educational resources and tutorials for beginners. They’re geared towards helping you understand the platform’s tools and features, making your trading journey easier and more effective.

There are no reviews yet.

Add a Review
Comment
Your rating
TradingView
Freemium

Where the world charts, chats and trades markets.

  • Pricing:
    Freemium
  • Type of Tool:
    Market Tracker
  • Best For:
    Technical Analysis
  • Learning Curve:
    Intermediate

Get Tool