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Guide to Using TradingView Effectively

Sep 7, 2024

Setting Up and Navigating TradingView

Introduction

  • TradingView is a powerful and user-friendly charting software.
  • Offers both a web browser version and a downloadable app.
  • Recommended to use the web browser version to avoid slowing down your computer.

Getting Started

  • Go to: tradingview.com.
  • Create an account to access different plans: Essential, Plus, and Premium.
  • Plan Details:
    • Essential: 2 charts
    • Plus: 4 charts, 10 indicators, 10,000 historical bars
    • Premium: 8 charts
  • Look out for sales like last year's offer: 6 months free on an annual plan.

Market Data

  • Importance: Real-time data is crucial for trading.
  • Options: Select individual data or a bundle including NYSE, NASDAQ, etc.
  • Verification: Ensure bundle purchase is reflected under Extra Data Subscriptions.

Customizing Charts

  • Access Charts: Hover over 'Products' and click 'Super Charts'.
  • Dark Mode: Recommended for a calmer view.
    • Navigate to your username, click, and select dark mode.
  • Chart Settings: Change the background color and line strengths.
  • Watermark: Shows the ticker and timeframe for easy reference.

Navigating the Chart

  • Mouse Navigation:
    • Left to Right: Click, hold, and drag.
    • Zoom: Use mouse scroll.
  • Trackpad Navigation:
    • Use two fingers to zoom in/out or enlarge.
  • Recommendation: Use a mouse for faster navigation.

Screen Layouts

  • Multiple Screens: Select up to four screens to view different timeframes.
  • Crosshair and Symbol Settings:
    • Ensure both are turned on for synchronized viewing across screens.

Adding Timeframes

  • Access and add more timeframes by clicking the day and starring desired frames.
  • Common Timeframes: 15min, 30min, 1hr, 4hr, daily, weekly, monthly, etc.

Layout Sync

  • Use the globe icon to sync layout settings across different screens.

Searching Tickers

  • Use the magnifying glass icon to search for tickers.
  • Type the company name or ticker symbol for quick access.

Toolbar Overview

  • Cursor Options: Standard or Cross for precise alignment.
  • Drawing Tools: Trend lines, FIB levels, patterns, and risk/reward ratio.
  • Favorites Toolbar: Star frequently used tools for quick access.

Setting Alerts

  • Create Alerts: Use lines or directly from the alert menu.
  • Settings: Customize trigger conditions and messages.

Indicators

  • Access indicators through the corresponding icon.
  • Customization: Turn off unnecessary data display for clean charts.
  • Templates: Save specific settings for quick application.

Organizing Tools

  • Templates: Save settings for frequently used chart elements.
  • Object Tree: Group and manage chart elements for organized charting.

Watchlists

  • Creating Watchlists: Add tickers and organize them in sections.
  • Sharing: Enable sharing and copy the link for others.

Chart Features

  • Snapshots: Take and share chart images effortlessly.

Bar Replay

  • Purpose: Practice strategies and learn price action by replaying historical data.
  • Usage: Jump to specific points and play bars at different speeds.

Additional Features

  • Earnings and Analysis: Access company performance and analysis ratings.
  • Personalization: Customize every aspect of your charts to suit your trading needs.

Conclusion

  • TradingView is highly customizable and enhances trading efficiency.
  • Experiment with settings to find what best suits your trading style.
  • Utilize resources like DMs or forums for additional help.