Tradingview Charting Software Review

by OTC Financial | Last Updated: 10 months ago
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Tradingview is charting software that offers users the ability to create and share interactive charts on their websites with free and paid subscriptions.

It’s comparable to Yahoo Finance in terms of features but has many more advanced tools for drawing and analyzing price movements.

Chartists can use these advanced tools in Tradingview, such as Bollinger Bands or Fibonacci Retracements, illustrating when a stock may be overbought or oversold.

Equally important, showing support and resistance lines and using easy-to-use charting software to help make your overall trading process simpler.

If you have tried to trad before, you understand how difficult and overwhelming it can be.

Of course, experienced traders have a hack around most of their trading activities, but it could be even more complicated for beginners.

This isn’t to say that skilled traders can’t make mistakes on their own.

Still, there are chances of failing.

The secret to great trading is mitigating the risks of losses by reviewing data.

One of the best ways to ensure your trading is successful is to use trading tools.

One such trading tool is Tradingview, and this article will discuss what it is and review it if it’s worth your money and time.

By the end of the article, you’ll have known about the following:

What Is Tradingview?

Tradingview is a charting software, stock screener, and research platform used for stock trading.

It was introduced in 2012 as a social media platform for traders and featured a scripting language that allows traders to customize charts and indicators.

The platform has different features that traders can use to understand and trade successfully.

Users can learn new concepts, research market trends, communicate and practice trades on this platform.

The main goal is to learn how to make successful trades while mitigating risks.

Below is a detailed review of the platform.

Can You Use Tradingview On Mobile?

Considering Tradingview is a cloud-based platform, mobile features mirror the desktop app’s features.

Some of the features in the mobile app include the following:

Push Alerts

When using Tradingview on your mobile, you can set push alerts so that you get notified when assets meet predefined requirements.

Also, you can use it when the asset moves from the current range.

Real-Time Market Quotes

The mobile app allows you to get real-time market updates without being tied to your computer.

It’s crucial if you’re a frequent trader who wants to stay informed about market movements.

Account Sync

Tradingview has an automatic syncing feature that allows you to switch between mobile and desktop apps.

The plus side of this feature is that you can’t lose your progress during the switch.

Features Of Tradingview

As earlier stated, Tradingview has powerful features that can form a great asset to any trader’s portfolio.

The platform offers more than just a stock screening feature.

Here are some of them:

Stock Screeners

Traders can easily find stocks based on their customized criteria.

This feature allows you to get all the required information about a particular stock, including prices alerts and trends.

Indicators And Charts

Trading view allows you to open up to eight charts per tab when working under the premium account.

However, under the free version, you can only open one chart.

You can also set the chats per layout and choose between the twelve different chart types.

Drawing Tools

Tradingview offers more than 50 intelligent drawing tools under all the plans.

Such tools include geometric shapes, annotations, and patterns, which form the backbone of technical analysis.

Paper Trading

Traders under all plans can use paper trading features to simulate trading and test strategies without attaching any risk.

You can also create a watch list and trade without using the Tradingview during extended trading hours.

Pricing Plans

Tradingview has four different pricing plans billed after a month, a year, or even two years.

The plans are as follows:

Basic

The basic account is free and perfect for those getting started or those who only want to know how Tradingview works.

However, the features under this plan are limited.

For example, you only get access to one chart per layout, one alert with three indicators, and no access to customer support.

But you can still get access to the social media platform and economic earnings calendar.

Pro ($14.95/month)

Under this plan, members get access to five indicators per chart and two charts in one window.

Custom time intervals and bar replays on intraday bars.

Volume profile indicators and 20 server-side alerts.

Pro Plus+ ($29.95/month)

This plan includes all other benefits listed under the pro plan plus the following:

Ten indicators per chart and four charts in one layout.

One hundred server-side alerts plus 10 saved chart layouts.

Also, the charts are based on custom formulas, supporting chart data export.

Premium ($59.95)

Under this plan, traders can enjoy 25 indicators per chart and eight charts in one layout.

Four hundred server-side alerts and unlimited saved chart layouts.

Alerts that don’t expire and four times more data on charts.

Pros And Cons Of Tradingview

When using Tradingview, there are several benefits that traders can take advantage of.

Pros:

Here are some of the pros:

  • An impressive selection of research tools can help traders understand trade patterns and trends to help mitigate risks
  • Comprehensive stock screening that extends to selected stocks
  • A wide range of educational materials together with free accounts can help beginners

Cons:

However, the platform also has several disadvantages like the ones mentioned below:

  • Customer service choices are not all-inclusive
  • Some parts of the website are poorly organized hence challenging to navigate
  • The premium and the pro+ plans are high-tiered and way put of many traders’ budgets

Is Tradingview Good?

Tradingview has very powerful charting and indicator tools that are one of the best in technical analysis of the stock market.

Moreover, when it comes to the basic plans, the functionality and the features that Tradingview offers are unrivaled; hence, beginners can benefit from it.

However, if you’re looking for a more advanced platform that uses AI, you should opt for TrendSpider instead.

Also, Trade-Ideas offer more intelligent and accurate stock screeners than Tradingview, which can help traders find stocks that have more potential each day.

Conclusion: Brining It All Togeather

Tradingview is an excellent stock screening and charting software that every trader should have.

The charts are excellent because they allow traders to open up to eight charts in one layout.

Also, the platform supports server-side alerts, and the mobile capability means that you don’t have to be tied on your desktop all day to use the platform.

If you’re interested in using Tradingview, you can do so by signing up on their platform.

Try using the basic plan and upgrade later if it suits your needs.

Try How Easy It Is To Use TradingView Charts For Yourself By Clicking Here!

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