Is Tradingview good for Trading?
Zero Dollar
No Credit card needed
Use it Free, until You set your Mind to Commit
First see how the Market works on each circumstances.
Then You can jump on through TradingView Platform for high dive-in experiences.
Table of Contents
“We highlight products and services we believe will benefit our audience. Some of these may be from partners who provide us with compensation.
While this may impact the topics we cover and the way products are displayed, it does not influence our opinions or the conclusions we share.”
Is Tradingview good for Trading?
Let's understand!
Trading is a highly competitive industry where success hinges on skill, discipline, and persistence. Daily, millions of traders engage in this zero-sum game, striving to outmaneuver one another.
While the potential for earnings is limitless, the intense competition demands that traders utilize every available advantage to stay ahead.
From choosing the right broker to investing in cutting-edge hardware and charting software, having the right tools is non-negotiable.
Without these essentials, traders face significant disadvantages in a field where even small missteps can be costly.
The Value of TradingView in Modern Trading
If you’re exploring charting platforms, TradingView stands out as a top-tier solution. This software has revolutionized technical analysis, offering unparalleled features for active traders.
Having been a loyal user for over three years, I can confidently assert that TradingView is worth every penny. Here’s why this platform has become indispensable for millions of traders worldwide.
What is TradingView?
Founded in 2011 by Constantin Ivanov, Denis Globa, and Stan Bokov, TradingView was designed as a web-based solution to democratize access to professional-grade charting tools.
Unlike its predecessor, MultiCharts, which catered to desktop users, TradingView embraced accessibility by being available across web, desktop, and mobile platforms.
What sets TradingView apart is its integration of social features, enabling users to share strategies and insights.
This combination of community engagement and advanced technical tools has earned TradingView a loyal following among active traders.
Who Should Use TradingView?
TradingView is ideal for active traders who prioritize precision and efficiency in their trading activities. While the free version offers basic functionality, serious traders will benefit from premium plans like Essential or Plus.
These plans unlock advanced features that streamline the trading process, making them invaluable for those who regularly analyze multiple assets or rely on technical indicators.
For long-term investors or those trading infrequently, TradingView may feel excessive. However, for traders who want cutting-edge tools to refine their strategies, TradingView is unparalleled.
Choosing the Right TradingView Plan
TradingView offers four plans: Free, Essential, Plus, and Premium. While the free version is sufficient for beginners, upgrading to a paid plan unlocks additional features tailored to specific trading styles:
Essential: Best for traders focusing on a few assets and using minimal indicators.
Plus: Suited for those managing multiple assets, setting frequent price alerts, or working with multiple monitors.
For pro experience, I would recommend to use the Essential plan as it aligns perfectly with trading needs, offering the ideal balance of functionality and simplicity.
Key Features of TradingView
The stoner-friendly interface of TradingView contains a wealth of features for dealers of all experience situations.. Here are some standout features:
Comprehensive Charting Tools:
With over 400 built-in indicators, 110+ drawing tools, and 20+ chart types, TradingView provides everything a trader needs for precise technical analysis.
Global Market Coverage:
Access data from over 150 exchanges across 50+ countries, covering stocks, forex, cryptocurrencies, and more.
Customizability:
Users can build unique charts tailored to their strategies, offering both flexibility and control.
These features have made TradingView the preferred platform for traders worldwide, earning it an impressive 4.9-star rating from over one million reviews.
Why TradingView is a Must-Have for Serious Traders
In a field as demanding as trading, the right tools can be the difference between success and failure. TradingView’s robust functionality, ease of use, and global reach make it an invaluable resource for active traders.
By investing in a plan that suits your needs, you can gain the competitive edge necessary to thrive in today’s fast-paced markets.
For anyone serious about their trading journey, TradingView is a platform worth exploring. With a free trial available, there’s no reason not to experience its capabilities firsthand and decide how it can enhance your trading strategy.
Enhancing Market Analysis by Screeners:
Screeners are among TradingView’s most utilized tools, providing traders with the ability to sift through thousands of securities to find potential trading opportunities.
Catering to diverse trading needs, TradingView offers six primary screeners: Stock, Stock 2.0, Forex, Crypto Pairs, Crypto Coins, and ETFs.
These screeners enable users to filter assets based on a wide range of parameters, such as market capitalization, industry classification, and technical indicators like RSI (Relative Strength Index).
For instance, if you’re interested in identifying undervalued large-cap tech stocks, you can tailor your filter criteria to these specifics.
TradingView also offers a Technical Rating feature, which combines insights from 13 indicators to categorize assets from “Strong Sell” to “Strong Buy.”
While helpful for gauging market sentiment, this rating is best used as a supplementary tool rather than a standalone decision-making metric.
Heatmaps, another standout feature, provide a visual representation of market performance across sectors and individual stocks.
Traders often refer to heatmaps shortly after the market opens to assess prevailing trends and investor sentiment at a glance.
Stay Ahead Without Constant Monitoring by Alerts:
As shown in above snapshot, once you right click on screen Alert box will open. Once you click on 4th line Alert option, one separate box will open like shown. You can get two locations for “ALERT” one is right hand side as shown after clicking right click on mouse and another one is on heading bar.
Tracking multiple securities can be overwhelming, but alerts in TradingView simplify the process. Once triggered, you can quickly shift your focus to the asset for potential entry or exit opportunities.
This feature allows traders to step away from their screens while staying informed, enhancing efficiency and reducing screen fatigue.
Perfect Your Trading Strategy
The Bar Replay feature is a game-changer for traders looking to refine their strategies. By replaying historical market data, users can simulate trading scenarios, analyze setups, and practice execution in a controlled environment.
This tool is particularly beneficial for honing technical analysis skills, as it allows traders to fast-forward through periods of market activity and focus solely on areas of interest.
Many users attribute significant improvements in their trading to consistent use of Bar Replay.
Learn and Grow Together by Community
TradingView cultivates an active community where traders exchange strategies, share educational resources, and provide custom scripts.
This collaborative environment enables users to learn from seasoned traders, explore diverse trading styles, and gain insights into critical concepts like risk management and market psychology.
Beyond technical skills, the community also emphasizes the importance of soft skills like discipline, focus, and mental clarity — all essential for long-term trading success.
Additional Features to understand
Is TradingView good for Trading
TradingView’s offerings extend beyond its core tools. Other notable features include:
Fundamental Data: Access key stock metrics for in-depth analysis.
Broker Integration: Trade directly through partnered brokers.
Custom Scripting: Create personalized indicators and strategies.
Chart Exports: Save and share your chart layouts.
Paper Trading: Practice trading without financial risk.
Global News: Stay informed on market-moving events.
Backtesting enables traders to analyze how their strategies would have performed using historical market data.
Pros and Cons of
TradingView as Good for
Trading platform
PROS
User-friendly design, Suitable for traders of all experience levels
Over 400 built-in indicators, Coverage of 1.3M+ securities
Reliable, fast, and user-friendly
CONS
Though the free plan comes with restricted features
Feature-rich platform may feel overwhelming
Final Verdict
Is Tradingview good for Trading or not!
With over 70 million users globally, TradingView’s popularity speaks volumes about its quality and reliability.
Its extensive features, sleek design, and community support make it a top choice for both new and seasoned traders.
If you’re unsure whether TradingView suits your needs, the free 30-day trial is an excellent way to explore its capabilities. Chances are, you’ll find it an indispensable tool for your trading journey.
Frequently Asked Questions
Subscription options vary, starting from a free plan with basic features and ads to premium plans priced at $49.95 per month. Higher-tier plans, such as Professional, can cost up to $499.95/month.
Yes, but the free version has restrictions, like using only two indicators per chart.
Yes, TradingView connects with over 50 brokers, enabling seamless order execution.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
