How to Use TradingView – Detailed TradingView Review


The TradingView Chart is the most powerful and customizable chart for Technical Analysis you can ever find on any Trading Platform, either desktop or online. In this guide, you’ll learn how to use the popular charting and trading website. This TradingView tutorial will help you setup your charts and use the cutting edge features of this trading software.

May 11, 2020 | AtoZ Markets – TradingView is the number one place to be for the retail trader. If anything, only for having access to almost all the markets in the world. This great charting software provides traders with a comprehensive, easy to understand platform that enables you to trade at your best.

In this beginner’s guide, I will go over everything you need to know to start comfortably using TradingView. Without further ado, let’s discuss what this platform is.

What Is TradingView?

TradingView is one of today’s leading browser-based charting platforms.

With a wide array of customization options available to users and a smooth charting experience, TradingView is elevating charting industry standards. Brokers will often provide their own charting software that is clunky, difficult to use, and severely limited in its customization options.

TradingView specializes in providing a charting experience that gives traders the ability to personalize their charts. Additionally, TradingView is also a social platform for traders. You have the ability to join discussions, follow traders, and a whole host of other community-driven content.

There is a cost to using TradingView but for serious traders looking to improve, this is an investment to seriously consider. I will go through the different payment options available and which ones are best for you a little later in this guide.

What are the benefits of using TradingView?

Many brokers make more money when traders lose money. That’s a fact. From their point of view, there’s no real incentive to provide traders with charts that have state of the art tools and functionality. This will only improve your trading performance, resulting in fewer profits for them.

Why would they invest their time and money toward charting software when it would be better spent on other endeavors? Of course, not all brokers operate this way, but many do.

Charting platforms, on the other hand, generate profit by providing you with the best charts available. Their whole purpose is to give traders access to as many useful tools they can think of. The better the charting experience, the more users will adopt the platform.

In the end, it comes down to the businesses’ interests.

Brokers are focused on enabling trade transactions and they benefit when you lose a trade. Charting platforms aim to provide the best charting experience for traders. As a trader, you obviously want to make money. Would you use a broker’s charting software if you knew it was holding you back, making you less money? No, you wouldn’t, but that’s essentially what is happening in the industry.

So if you want to enable yourself to perform better, TradingView may be what you need to elevate yourself to that next level of trading. TradingView offers some of the best tools and functionality I have come across in my entire trading career.

In this guide, I will show you tools that I haven’t seen anywhere else online – tools that turn a 5-minute task into a 5-second task. For these reasons and more, I believe TradingView is one of the best charting platforms currently available to traders.

What you will learn in this beginners guide

In this TradingView Guide, I will teach you how to:

  • Create an account with TradingView.
  • Navigate TradingView.
  • Personalize and set-up your charts with TradingView.
  • Change time frames and save your chart layouts.
  • Create and save different watch lists.
  • How to connect your broker account with TradingView.
  • Where to find the most popular tools.

How to create a TradingView account

First things first, let’s look at creating an account. If you already have an account, feel free to skip to the next section where I will show you the different accounts and what they offer.

To create an account you can simply follow this link and click “join for free” in the top right corner. Follow the instructions and that’s it, you’re done! You have successfully created a free account with TradingView.

The free account gives you access to the following features:

  • Access to the charts.
  • 3 indicators per chart.
  • 1 saved chart layout.
  • 1 indicator template.
  • enhanced watchlist.

On the downside, using the free account means you will see the occasional advert. They can be annoying but they’re not too intrusive – with a paid account you won’t see any adverts.

You can continue using the free account for this guide, but if you plan on using TradingView as your charting platform you will likely want to upgrade to a paid account.

If you’re not sure about paying for TradingView, I highly recommend utilizing the free one month trial. You’ll have access to all the tools and it should give you plenty of time to get a feel for the software.

Just remember – the trial will end after a month and you will then be charged for whatever trial you signed up for. If you want to cancel, go to the billing tab in your profile. Here you’ll see all the subscriptions you have with TradingView and how to cancel them.

Let’s take a look at the different accounts that are available to you.

Types of TradingView accounts

TradingView offers 4 types of accounts (listed in order of cost):

  1. Free account.
  2. Pro account.
  3. Pro+ account.
  4. Premium account.

If you follow this link and scroll down a little, you will see a comparison of what all the different accounts have to offer. This is also the page where you can sign up for the free trial. Remember, the trial will automatically update to a subscription when it ends!

I personally use the pro account because it offers everything I need for my strategy. I typically recommend traders upgrade to the pro version as I’ve found this to be the best value package.

At the end of the day, you will know best if you would benefit from the additional features provided by the other accounts.

Overview of charts

Before we take a look at the charts, here’s a quick tip:

You can undo almost anything you do on your chart by using the ctrl+z / cmd+z shortcut.

You can also use the undo arrow on the top toolbar. So if you change something and you realize you: a) have no idea what you changed, or b) don’t like what you just did, don’t worry, you can instantly undo it!

How to Use TradingView

In the screenshot above, I have labeled green the main sections of the TradingView charting platform for you. I’ll be discussing in detail for each of these sections as you read on.

    1. This is the top toolbar where you can find things like time frames, indicators, layouts, etc.
    2. This left side will be your most-used section on TradingView. It houses all the tools you can place on your chart.
    3. This is the main chart area where you’ll be applying all your indicators and tools.
    4. Here you can find your currency pairs and watch lists, as well as some handy tools such as alerts, an economic calendar, and some social tools.
    5. The bottom toolbar is mostly used for notes and testing. It is also where you go to connect your broker account with TradingView, enabling you to enter trades straight from TradingView (if your broker allows this).

Main Chart Area

Whew – if you’ve never used TradingView before, you’re probably seeing a lot of things you don’t like right now. Maybe you prefer a line chart over candlesticks, or perhaps the color scheme isn’t quite your taste. Fortunately, it’s very easy to customize your charts.

How to Use TradingView

Simply right-click in the main area and click on Settings. This will open up a new window where you can change everything.

Here you’ll find things like the Scales section. Some people like seeing where the current price is, whilst others are fine with just having it highlighted on the axis. Simply tick or untick the System Last Value Label box. You can also switch your chart’s theme from white to black, or even blue! There is a Template box in the bottom left of the Chart Settings. I highly recommend setting some time aside to personalize your charts – it’s your trading space so you should make it your own!

If you would like to start with a clean slate and have no indicators or drawing tools on the chart, TradingView makes it very easy to delete everything.

You can right-click on the main chart area and select Remove All Indicators or Remove All Drawing Tools to remove what you want in an instant!

So, if you ever feel like testing out a tool or adding a bunch of indicators to your chart just to see what they look like, you can easily delete them all afterward. There’s also a trash icon on the left toolbar that you can use too.

This right-click menu holds a lot of features that will come in handy for you. One of those features is the Reset Chart feature. If you’ve been messing around with the size of your chart, you can click Reset Chart to go back to the default size as well as the current open candle.

Another handy feature in the right-click menu is the Add Alert feature. This will allow you to add an alert at the exact price point where you right-clicked. It will open up a new window, where you can then change all the options to your liking – you can even change the value if you want.

How to Use TradingView

As you’ll now see, TradingView can send you alerts via popup, e-mail, SMS, or on their dedicated app (both Android and iOS). Unfortunately, if you want to get an SMS alert, you need to upgrade to the premium account. Once you’re done, simply click “create” et voila! You’ve got an alert set up.

Right-clicking also allows you to add the pair you’re looking at to your watch list. Very quick and easy!

TradingView Top Toolbar

The top toolbar of TradingView has quite a few useful tools, but there’s also a couple that you won’t need. Let’s take a look at the essentials you need to know.

To make it easier for you, here’s an image with all the buttons numbered:

AtoZ Markets Numbered tools

First things first, you probably want to change the bars on your chart. Click the button I have highlighted as number two in the picture above. Most of you will only use this button once to switch from the default bar graphs to whatever your preference is. I prefer Japanese candlesticks, the second option.

You can find the time frames to the left. I’ve marked these as one in the picture. If you’re using the free version of TradingView, you will not be able to customize these time frames. This will be similar to charting with a broker – frustrating, I know. Luckily, the provided time frames are better than what most brokers offer you.

If you are paying for TradingView, you’re one of the lucky ones! You can click the right-hand arrow to change your time frames.

You’ll notice that when you hover over the different time frames, there’s a star to the right. Clicking the star will highlight it, which means you’ve set that time frame as a favorite. It will be put at the top of your chart, giving you quick and easy access.

This will come in handy when you’re doing your analysis. Being able to go through all the different time frames quickly will help you understand what price is doing in about a quarter of the time.

Here’s a handy little trick for you Pro users, you can simply type a number and this will pop up:

Tradingview time interval AtoZ Markets

It will default to minutes, but you can change this by typing d for day, w for week, and m for month after you chose the number you want.

For example, if you want to look at the two day time frame, simply type 2d and press enter. This will come in handy when you want to look at a time frame that isn’t one of your favorites and that isn’t included in the list.

The next useful button is the indicator button. I’ve highlighted this button as number three.

This contains a list of all the indicators used in trading. It’s huge! There’s a built-in list to the right. If you want to look for a specific indicator, you can!

Simply type the name of the indicator and all the indicators with that name will pop up. Feel free to mess around and add a few indicators to your chart. You can easily undo any of this with the ctrl-z (cmd+z on mac) shortcut!

To the right of the indicator button, you’ll find the templates button (Number 4) and the alert button (Number 5).

Tradingview alert button AtoZ Markets

The alert button is one of those buttons I think you might use.

The name kind of gives it away: this is the button you click to create an alert. It is easier, however, to right-click on the main chart window at the price level you want the alert.

If you’d rather use the button, you will have to enter the required information yourself. Right-clicking will save you some time and effort, but ultimately it is up to you which one you prefer!

Finally, we have the top right of the toolbar. The first button that looks like a square is actually the layout for your main window.

This function is only available to paying members, but don’t worry! This is more of a quality of life function than a necessity.

When you click this button, you will see that you can divide the window into different sections. This will allow you to compare different currency pairs. Pro users can compare two pairs, Pro+ users can compare four pairs, and Premium users can compare eight pairs.

The next button on the list is arguably the most useful button.

See the little cloud with Unnamed next to it? Can you guess what this means? If you guessed this is some kind of cloud-saving feature, you are correct!

This button allows you to save your chart layouts. With layouts, TradingView doesn’t just mean the pair layouts. Any customization you have done to your chart can be saved with this feature.

Indicators, drawing tools, favorites – you name it. Your charts actually save automatically, even when you close your browser.

This button allows you to have multiple layouts for different purposes. For example, you might want different layouts for trading regular currencies and cryptocurrencies.

Again, the amount of layouts you can save depends on your payment plan. You can check how many you can save right here.

If you click on Load Chart Layout in the drop down menu, you will see all the layouts you can easily switch between. It’s always a good idea to save at least one layout, just in case anything strange happens to your charts. I haven’t experienced anything like that just yet, but better safe than sorry!

The last two buttons are your standard Properties and Full screen buttons.

Properties open up a window with all sorts of customization options, and the full screen button will put your chart into full screen. To get out of full screen simply press escape.

Throughout 2019, TradingView regularly improved and updated their platform which is great news for those of us using their service – hopefully it continues in 2020! One of those updates was to the Replay feature.

AtoZ Markets Tradingview top bar replay

The replay feature, highlighted in the image above, allows you to essentially backtest on TradingView! This feature was available when I first wrote this guide, but since then there have been some great improvements. To the extent that I think it is now worth including it in my guide.

Backtesting is hugely important if you want to test out a strategy, or tweaks you have made to a strategy without having to wait for months or years’ worth of results. You simply click the button and a vertical, red line will appear. Click on the chart where you want to replay the price from! A big improvement TradingView has now incorporated is that you can switch between time frames and still remain in the replay function (this was not possible before).

This replay feature is fast becoming a viable option for backtesting, meaning you don’t need to spend more money on loads of different platforms.

You made it, we’ve gone through the top toolbar! Are you ready for the next one? Keep on reading to see what the right toolbar has to offer!

Right toolbar

The right hand toolbar has a lot of functions that you won’t need to use as a beginner on TradingView. We will take a look at the functions that are the most useful.

You will be using the right hand side of TradingView quite often.

Before we get into it, you can resize the Details and Headlinesboxes to your preference. If you don’t want to see these boxes at all, you can drag them down to the bottom and they won’t show you any information.

As you might have guessed, the details box contains some information about the pair you are looking at. The headlines box will show you news related to the pair. Keep in mind that this is not the most reliable or quickest way to find out about news.

Above these two boxes, you will find the watch list. This is where you will manage the pairs you want to trade or keep an eye on.

How to Use TradingView

The watch list can be customized in a couple of ways.

You can click and drag to rearrange the pairs, resize the width, as well as remove and add any pairs you want. You can remove pairs by hovering over them and clicking on the x that appears on the right.

To add a pair, start typing in the Add Symbol box to the top right. If you type in BTC, a long list of available Bitcoin pairs will pop up. Too long, really!

You can make this list shorter by choosing the right market. The Forex tab is going to have all the regular pairs you are looking for. There is also a cryptocurrencies tab, a stocks tab, futures, and more. Pretty easy!

Another thing to be aware of when choosing your pairs is who the provider of the data is. If you look at the image below, you can see I am trying to add BTCUSD to my watch list.

BTCUSD watch list AtoZ Markets

To the far right of all these options, there are different company names: Bitfinex, Bitstamp, Coinbase, etc. This tells you who is providing the data for the charts.

When adding pairs to your TradingView watch list it is always best to find your broker’s data. Unfortunately, not all broker’s data is available.

If you can’t find your broker on the list I recommend you stick with the same broker for all your pairs. You could always go for a popular broker or do a quick google to see who provides the most accurate data, but you want to be consistent in your choice.

The right toolbar also has an option to save watch lists. If you click on the small button to the right of the Add Symbol box, you will find options to create, save, and load a watch list.

Tradingview watchlist button AtoZ Markets

This menu also has your saved watchlists at the bottom for quick and easy switching.

The watch list section is one of those tools Tradingview provides that you will not find with your broker. These tools allow you to organize your charting in a way that improves your efficiency and the quality of your analysis. This is why you need to use a charting platform that is separate from your broker.

There is a new feature that has arrived on TradingView in the latter stage of 2018: customizable flags!

This is a fantastic quality of life improvement that really shows how small additions to your chart can amplify your trading experience. There are 5 colored flags now available to help you further organize your pairs.

When you hover over a pair, you will see a grey flag on the left side. Simply click that and your screen will look something like this…

Tradingview Flags AtoZ Markets

Now you can flag any pair with any color, but what’s the point in flagging them if you don’t know what each color represents?

Well, you can actually customize these flags and give them names. To do that, you need to go to the menu in the top right and you will see the flags that are currently on your list.

Tradingview Flags Version 2 - AtoZ Markets

You then select the color from this menu and it will show you all the pairs you flagged with it. To rename it, simply click the menu button once more and choose Rename List…

You can utilize these flags on pairs you are watching and trading. You could have one color for large time frame trades, another for short time frame trades, a color for specific setups – the list goes on and on. It is possible to organize these flags in any way you want!

The next buttons we are going to take a look at are the three buttons to the right of the watch list.

The top button is simply your watch list button. The button underneath it is a list of the current alerts you have set.

You can also set alerts from this section, but as mentioned before, it is easier to use the right-click menu.

The second to last button I want to discuss is the calendar one. You can find it three buttons below the alert button.

Tradingview Calendar button - AtoZ Markets

This is an economic calendar that lists upcoming events. It’s pretty useful, even though there are better economic calendars out there. It provides a great snapshot of the day’s events which are essential for day trading.

The very last button for this right-hand side is the help button. If you ever want to contact support or you want to check the shortcuts, this is where you go.

With that, we are done looking at the right-hand side! Next up I’ll go through the left toolbar which is going to be very important for your charting.

Left toolbar

As mentioned before, the left-hand side is going to be important. Here you’ll find all of the drawing tools. There are quite a few buttons here and you will be using a lot of them!

All the tools can be added to your favorites toolbar. Simply hover over the tool you want to add and click on the star. If you don’t have the favorite toolbar up you can find it in the right-click menu. Go down to Drawing Tools and click Favorite Drawings Toolbar.

The very first button is your profile button. Here is where you go to change your profile settings. You probably won’t use this very much, but it is useful to know where it is.

Below the profile button is the crosshair button. This allows you to change your mouse cursor to a dot, an arrow, or a crosshair – whichever one you like the best.

Next, below the crosshair button, is where you’ll find all the Line tools. Things like trend lines, vertical lines, as well as the horizontal lines and parallel channels.

The horizontal line does exactly what the name suggests – it places a horizontal line on your chart. The Parallel Channel and the Flat Top/Bottom tools allow you to place a highlighted channel on your chart.

If you need to place more than one, remember you can use the ctrl-c ctrl-v shortcut. This will save you quite some time when putting downtrend lines and support/resistance areas.

The next few buttons are all buttons that place indicators on your chart or that allow you to draw on your chart and place shapes. The button with the pitchfork, for instance, has a bunch of different Fibonacci tools for you to explore. Feel free to have a look through each of these! You will gain familiarity by exploring the software.

The next tools I want to talk about are my personal favorite on TradingView. I’ve highlighted the button in the image below so it’s easy for you to find:

How to Use TradingView

This button gives you access to the Long Position and Short Position. These tools are amazing.

It lets you place your stop loss, entry, and take profit on your chart with an awesome visual aid. On top of that, it will tell you the amount of pips your stop loss and your take profit cover, as well as your risk-to-reward ratio (RR).

With this tool, you don’t need to waste time calculating your RR – it is right there in front of you. Isn’t that great?

Once you’ve placed it down, you can double click on it to open up a window with all the information regarding the trade.

This tool will save you so much time, and as a trader, you know that time equals money. As far as I am aware, TradingView is the only charting platform that provides this tool. Brokers will certainly not offer this! If you know of any other charting platform that has this tool, let me know. I’d be very interested in checking out that platform because, quite frankly, this tool is an absolute time saver!

The ruler button is also a handy little tool. It allows you to measure the amount of pips and days a certain area covered. The shortcut for this tool is very easy to remember: simply hold down the left shift on your keyboard, then click and drag your mouse.

All the way at the bottom of the left toolbar is the remove button. It looks like a bin so it’s very easy to remember what this one does. It has the option to remove all drawing tools, remove all indicators, or remove both.

This wraps up the essential buttons on the left toolbar. There are many buttons I didn’t cover but these are the ones you need to know about.

It might take a while before you remember where every button is and what it does. It helps to favorite the important ones, and you can always right-click to find some of the same functions. I will be going into more detail on some of these buttons in a more advanced guide in the future.

Bottom Toolbar

This toolbar can seem overwhelming at first, but don’t worry! I will help you sort through the most beneficial aspects.

The bottom toolbar gives you access to a lot of different information and data. Don’t worry, you can resize this area as well if you don’t really care about this information. However, there are some useful things on this toolbar.

How to Use TradingView

The first is the time zone which you can find on the right side, above the small camera icon.

You can change the time zone to whatever you need it to be. It will automatically be set to wherever in the world you are. This is great for when you are traveling or if you have an account that is shared between multiple users and computers.

Following this, you have ext%log, and auto. These are your axis options.

I mentioned earlier that for crypto trading you will want to use the log scale. This is where you can find the button for it, but as I mentioned earlier you can also find it in the right-click menu.

The camera icon I mentioned before allows you to take a screenshot of your main window. It’s useful for logging your trades, data, or to show others your chart. It will generate an image URL for you right away, and it will also give you the option to save the image or tweet it.

The Publish Idea button is for TradingView’s social aspect, something I will be covering in a different article.

Over on the left side, we have a Go to… button. This button is just a really quick way for you to jump to a certain date and/or time. Next to this button, there are a few different lengths of time. This is a fast way for you to look at a pair for that specific time span.

If you click on All, for example, it will show you the movement of price for the entire time that pair have been tradeable. Depending on which time span you chose, the time frame will also change. This will be handy for those of you who like to trade on bigger time frames, as it will allow you to check what price has done over a certain amount of time.

The last two essential things you need to know about are the Text Notes and Trading Panel. You can find these underneath the buttons we just saw.

Text notes allow you to take some notes for pairs, as you probably already guessed.

The trading panel is a bit more interesting. You can select Paper Trading which is basically a demo account within TradingView! If you’ve selected this but want to connect your broker’s account, you will need to click on the cogwheel to the right and choose Select Another Broker.

If you’re lucky, your broker may allow you to take trades on TradingView without having to log in to your broker’s platform. To link your accounts, simply click the broker you are with and provide the information TradingView requires.

You might have to check your broker’s help section to find exactly what you need. For some, you simply need your login details, whereas for others you might need something called an API key.

Conclusion

Whether you’re into active trading or just curious about what the market is doing from time to time, TradingView is an excellent tool to use for researching, charting, and screening your favorite stocks. You get a ton of research tools for free right on the home page, and with a basic account, the avid beginner can practice charting and mock trading for free before placing trades at their favorite brokerage.

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