Markets Overview: Comprehensive Insights for Informed Trading Decisions
TradingView is an advanced charting provider providing a web-based platform for analytics, trading and strategy validation. The platform includes 10 types of charting, as well as a large set of tools for graphical and technical analysis.
Work comfortably with TradingView's charts
The first thing you notice when you enter the platform is the flexibility of setting and scaling charts. At the same time, the same zooming, unlike most other providers based on browser technology, is smooth and intuitive. But this is most likely the merit of the chosen technology, because all of the service's graphics are built on HTML5 - the most modern web standard. Also, the platform has some unique features. These features include rather rare types of charts and graphical tools.
The interface of the platform looks minimalistic. The control elements do not get in the way and are scattered around the edges of the screen. In the center is the graph, which takes up probably 90% of the entire workspace. Each menu has its own special purpose, so let's consider them in detail.
Menu for choosing the work symbol and timeframe of the current chart. The field for entering an instrument supports the whole list of arithmetic operations: division, subtraction, addition, multiplication and exponentiation. This allows constructing a spread chart of any complexity.
Choice of the chart type.
Adding an additional tool to the chart. This function can be used for paired trading or for spread trading of a basket of instruments.
Adding an indicator to the chart.
Create customized alerts. Here you can specify the alert condition, delivery method and the message itself.
Changing the chart layout on the screen (you can open up to 8 charts in one window).
Menu for selection of graphical tools.
Flexible price scale.
The integrated Pine language allows programmers to extend the platform's functionality with their own scripts.
With the trading ideas service you can share your own trading inputs or use other traders' methods in trading.
The interface of the platform looks minimalistic. The control elements do not get in the way and are scattered around the edges of the screen. In the center is the graph, which takes up probably 90% of the entire workspace. Each menu has its own special purpose, so let's consider them in detail.
Menu for choosing the work symbol and timeframe of the current chart. The field for entering an instrument supports the whole list of arithmetic operations: division, subtraction, addition, multiplication and exponentiation. This allows constructing a spread chart of any complexity.
Choice of the chart type.
Adding an additional tool to the chart. This function can be used for paired trading or for spread trading of a basket of instruments.
Adding an indicator to the chart.
Create customized alerts. Here you can specify the alert condition, delivery method and the message itself.
Changing the chart layout on the screen (you can open up to 8 charts in one window).
Menu for selection of graphical tools.
Flexible price scale.
The integrated Pine language allows programmers to extend the platform's functionality with their own scripts.
With the trading ideas service you can share your own trading inputs or use other traders' methods in trading.
Types of charts available on the advanced TradingView platform, with which it is convenient to analyze the markets
Bars are one of the most popular methods of displaying prices. A bar is a vertical line with the top indicating the maximum price for the period and the bottom indicating the minimum. The line to the left shows the opening price and the line to the right shows the closing price. A rising bar is drawn in green and means that at the end of the period the price was higher than at the moment of opening. A receding bar is drawn in red if the close price is lower than the open price.
The chart in the form of Japanese candlesticks is almost similar to the bars, the only difference being that the candlestick itself has a distinct body, and the direction is determined exclusively by the color of the body.
The chart in the form of Japanese candlesticks is almost similar to the bars, the only difference being that the candlestick itself has a distinct body, and the direction is determined exclusively by the color of the body.
Renko's are also a development of Japanese traders. Renko refers to the type of chart that takes into account only the price scale in the calculation. The chart represents individual blocks ("bricks") of a fixed size. When the price rises relative to the maximum of the previous brick by a predetermined amount, a green brick is drawn on the chart. When the price goes down by the size of a brick, a block of red color is drawn.
On a linear breakout chart, a new bar is drawn every time the price moves out of the previous period. If the price has not changed during this time, no bar is drawn.
A Kagi is a sequence of vertical lines connected by horizontal bars. The chart continues until the trend changes direction, that is, when the price passes some distance in the opposite direction. When the price exceeds the previous maximum or minimum, the line changes color.
A crosses and zeros chart shows the price movement as vertical sequences of crosses and zeros. In case of an upward price movement by a predetermined value, a cross is drawn on the chart. In case of a downward price movement, a zero is drawn on the chart.
On a linear breakout chart, a new bar is drawn every time the price moves out of the previous period. If the price has not changed during this time, no bar is drawn.
A Kagi is a sequence of vertical lines connected by horizontal bars. The chart continues until the trend changes direction, that is, when the price passes some distance in the opposite direction. When the price exceeds the previous maximum or minimum, the line changes color.
A crosses and zeros chart shows the price movement as vertical sequences of crosses and zeros. In case of an upward price movement by a predetermined value, a cross is drawn on the chart. In case of a downward price movement, a zero is drawn on the chart.
Graphical analysis using TradingView's technical tools
An important part of the platform are the graphical analysis tools. The list of different patterns takes the breath away from a seasoned technician. In addition to the long list of the most common ones, there are many exotic tools like the Fibonacci spiral and sinusoidal cycles. The first one, by the way, is an approximation of the logarithmic spiral, the so-called Golden Spiral.
Gann supporters are also not spared, the following tools are available: fan, box and Gann square.
Traditional patterns are very easy to use. Each of the key points is signed and even people with one common ailment will find it very difficult to confuse right and left.
In fact, the whole emphasis is on ease of use. The number of clicks required to put a pattern on a chart never exceeds the number of points of the pattern itself.
Gann supporters are also not spared, the following tools are available: fan, box and Gann square.
Traditional patterns are very easy to use. Each of the key points is signed and even people with one common ailment will find it very difficult to confuse right and left.
In fact, the whole emphasis is on ease of use. The number of clicks required to put a pattern on a chart never exceeds the number of points of the pattern itself.
Many people think you can drown in such an ocean of information, but once you understand how to use TradingView, you want to forget about any MetaTrader and other "trading" stuff. Even if you work with binary options or stock assets, the service will provide you with honest and up-to-date information. You can select the quotes of a specific broker - if they collaborate with the service - and work with real trades, even in parallel with the standard MT5.
The TradingView live chart is not designed by software enthusiasts, but by traders for traders, to make each of us more efficient and easy to understand. Get connected and make money!
The TradingView live chart is not designed by software enthusiasts, but by traders for traders, to make each of us more efficient and easy to understand. Get connected and make money!
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