- Stock Charts
- Technical Indicators
- Ease of Use
TradingView is a free stock chart service (with paid options) with beautiful charts, an impressive selection of technical indicators, and an abundance of valuable features. Our review explains the highlights of this service and how you can make the most of it.
- About TradingView
- Pricing Options
- TradingView Platform Features
- Platform Differentiators
- What Type of Trader Is TradingView Best For?
TradingView.com is browser-based financial markets charting and analysis platform for traders and investors. It is a powerful and flexible platform with a ton of features and social media integration with a built in community of traders all available for a monthly or annual subscription fee. It’s cloud-based technology enables users to access the platform from any computer or mobile device, making it portable and powerful. The platform is amazingly flexible covering global equities, futures and forex markets. This is possibly the best browser-based charting platform currently on the market in terms of function and value.
Co-founded by Stan Bokov in 2011, the platform offered free powerful browser-based charting to grow the site from 2,000 daily visitors to a 15 million worldwide user base. The community has grown to over one million registered users. This growth has been spurred by the genius widget-apps placed on various high traffic blog sites like Investopedia. Unlike other communities that converse on opinions, rumors, spam and so-called fundamentals, TradingView is based almost solely on technical analysis and charts. This tends to weed out the pump and dumpers and spammers, thankfully. You can also follow some of the best technicians, which is a nice idea generator in itself.
It is free to set-up an account with limited access and delayed quotes to kick the tires. However, intra-day traders will need realtime quotes and chart data and ability to save charts with indicators and tools on them. TradingView offers three levels of paid subscriptions. All subscriptions come with a 30-day trial period; however, all subscriptions require exchange fees for realtime data. The PRO plan is 9.95 per month with discounted rates for yearly and 2-year pre-payments. This plan allows for two charts per layout on a single device with five indicators per chart and five saved charts. This plan only allows for regular market hours charting.
The Pro+ plan is $29.95 per month with prepaid discounted rates for yearly and two-year plans. This plan allows four charts per layout on two simultaneous devices with 10 indicators per chart and 10 saved chart layouts and most importantly extended hours charting. The PREMIUM plan is $59.95 per month allowing eight charts per layout on five devices simultaneously with 25 indictors per chart and unlimited saved chart layouts. It also supplies the user with a customer support phone number for immediate technical support. All plans incur monthly exchange fees.
TradingView Platform Features
TradingView started off as just a charting platform but has continued to add features at a tepid pace. It has grown into a full-fledged community of technical traders and investors featuring instant messaging streams per market and much more. Here’s a rundown of the key features.
The charts are still my favorite aspect of the platform. From basic candlestick and bar charts to Heikin Ashi and Renko charts are available to users based on their subscription plan. Each browser window can feature up to eight individual chart windows, based on user’s subscription plan. Each of the charts can be linked to same or different time intervals or same symbol on different time intervals. The charts can also be expanded or shrunken and easily resized just by left clicking in the window and dragging. The “auto” button on the lower right side of the chart will autoscale the chart to smooth it out for the select time period in the chart window. This is a very useful tool especially when you have a lot of indicators on the chart. The drawing tools are vast and impressive to say the least providing everything from harmonic pattern plotting, to Elliott Waves to pitchforks, Fibonacci and Gann-based plotting. It’s a virtual all-you-can-eat salad bar of tools.
The platform has a TON of indicators including all the traditional Built-In technical ones including moving averages, stochastic, MACD, RSI, CCI, Pivot Points, etc. They also have a Public Library segment with custom indicators created by users. The Marketplace Add-Ons are 3rd-party indicators that can be purchased on a subscription basis ranging from $19.95 to as high as $149 per month.
Automated Technical Analysis
TradingView recently launched an automated technical analysis tool similar to the one Barchart offers. The tool uses a variety of technical criteria to determine whether the stock is a buy or a sell.
Here’s an example of one of the analyses:
What I like about this tool is that it allows you to switch between timeframes. You can choose to analyze a stock using intraday timeframes, daily timeframes, weekly timeframes, and monthly timeframes. The introduction of time into this analysis makes the results more accurate. For example, a stock may breakdown intraday while still holding strong on the daily chart. Traders can use these different timeframes to align the analysis with their personal trading styles.
Of course, like its manual counterpart, automated technical analysis is not a foolproof system. First, technical analysis doesn’t factor in fundamental data, market conditions or company news. Second, technical analysis is a speculative art that is difficult to automate with accuracy. That said, TradingView’s automated analysis is an interesting feature. It can be a helpful starting point for your own analysis or it can serve as a way to automate some of your own analysis processes.
TradingView’s automated analysis isn’t using any proprietary algorithm. It uses basic rules of technical analysis. For example, a stock trading above its 200-day moving average would be considered bullish in the long-term. TradingView’s automation can compute this on the fly.
Here are the indicators they use:
The news feed is basically pulled from various websites including YAHOO! Finance, TheStreet, Motley Fool, and Briefing.com. There isn’t a dedicated scrolling real-time newsfeed, so news-based momentum traders are out of luck here. Most of the news is headlines that open up in a separate browser window when clicked.
The screener is pretty basic here. You can scan based on fundamental metrics including valuation metrics like price-earnings, dividends, margins and analyst ratings. This is very generic and provides basic information. If you’re looking for a more advanced free scanner, you should consider FinViz.
TradingView allows users to set alerts on the chart. It’s just a matter of right clicking on the chart at the price level you want for the alert, very convenient. It also allows alerts based on indicators, drawing tools and pine (their trading language).
Order Entry/Compatible Brokers
TradingView allows you to link supported online brokerage account to place trades. Check with the your broker to confirm.
Watch lists can be constructed easily with alarms to boot. There are no level 2 quote screens on this platform.
Customization and Saved Layouts
Charts and layouts are saved on the cloud, which makes them accessible from any mobile device. My biggest gripe is the file management system that can be very confusing. Unlike most other platforms that allow you to save all your charts in a single layout for easy access with changes, Trading View has a 1,000 indicator maximum limit per layout. This doesn’t mean 1,000 stocks but a total of 1,000 indicators which include anything from moving averages, pivot points which can number 5 or more, each retracement line on the a Fibonacci retracement chart, which can easily number 8-20 alone and so forth. The more detailed your charts are, the less space there is for them. Also, when you save a layout, be sure not to open a new layout in the process or else it will only save changes to the new layout. The automatic auto-save feature is clunky as it will stall our your charts while it autosaves constantly. If you have duplicate layouts open and make changes on one layout, it will not save to the other layout. Make sure you remember this before you spend 30-minutes putting together a detailed chart only to realize it was never saved or written over by an old layout. The file management system is the biggest problem with TradingView.
TradingView can’t be beat in terms of value and features. Comparable platforms can cost upwards of $200 a month making this one a great value for $19.95-$59.95 monthly plus exchange fees.
Another benefit of the TradingView platform is that it works with a broad range of markets. You can use the charting for stocks, currencies, cryptocurrencies, and much more.
What Type of Trader Is TradingView Best For?
This platform is for traders and investors who primarily favor technical analysis. I can’t stress how versatile the charting is. It even has a playback feature that let’s you review how the price history played out from a specific date to present. The features are amazing. The programmers have really thought out everything that traders could or would need. I personally love the countdown timer on the candlestick charts that let you know how much time is left for the candle to close. Very often you can see how the algos will sweep the bids or asks to “paint” a bullish or bearish candle right before it closes.
- One of the best charting platforms on the market
- Numerous indicators and tools
- Great value for the built-in features
- Accessible through web browser and smartphone app for true mobility
- Growing community of chartists providing good ideas
- Globals markets and even Bitcoin data can be charted
- Weak newsfeed and fundamental analysis tools
- Confusing file saving system and irritating symbol limit pop-up warnings