Transcript for:
Guide to Using TradingView Effectively

this lesson I will be showing you how to set up tradeing View and how to navigate through it tradeing view is one of the most powerful programs to chart on and very user friendly it can be a little intimidating at first but I'm going to show you how you can use it and a lot of cool features that it offers so first what you want to do is you want to go to tradingview.com now trading view also offers a um downloadable platform that you can use but I prefer the web browser on the app version it can slow your computer down because it takes up a lot of storage and your candles may not move as fast as you would like so the web browser works and you can open multiple tabs to have different tickers on it so what you want to do is you come to tradingview.com and it'll look like this so first you have to create an account and after you create an account you can see the different plans that they offer so you go to products you go to pricing and it'll bring you down to their different plans and as you can see they have an essential a plus and a premium Now if you scroll down it shows you the differences between each plan and as you go further down it gives you all of the different features of each plan so personally I use the plus that gives me four charts s 10 indicators 10 10,000 historical bars that's for replay mode um you can go with the free version but you won't have as many um additives or features for it so um you can do the essential that gives you two charts or you can do the premium that gives you eight the plus works for me I don't need eight charts but I would like more than two so I go with the plus so after you um select what plan you you want you can choose to pay monthly or annually by clicking this now sometimes trading view offer some really dope sales last year they had a sale for if you did the annual plan the first six months was free so sometimes you can catch great sales like that so now that you have your plan and how you're going to pay for it you want to come down to Market data and you scroll down now Market data is realtime data this is very very very essential for your trading realtime data gives you updated candles and updated price in real time you don't want to be lagging on this because you don't want to enter or exit a position and your data is not current that can make you lose a lot of money or not get the best entry for what you're trying to do so you want to have real time data now you can select um individual datas here but they offer a bundle that includes the New York Stock Exchange the NASDAQ etc etc so I just go with the the bundle and that works now after you select the the bundle you want to go to account billing and look under extra data subscriptions and you want to verify that you're actually paying for that bundle if you're not paying for that bundle then it will not show up for Real Time data so let's move over to the charts so to get to the charts you want to click hover over products and click super charts now your screen will look something like this the first thing I want to show you is how to change the color of your screen personally I hate the white screen the white screen just screams at you it's loud it's it's too much I like to be a little more calm and have a bit of a contrast this white is is it's it's a bit much if you if you like the white you can keep it but I'm going to show you how to change it so the first thing you're going to do is you're going to hover over your username click it scroll down to dark mode now my settings are already in there but yours may look like this after you hover over the dark mode yours may look something like this so as you can see what I was changing I was changing the background of your actual chart the dark mode only gives you dark for the board order so to actually change the color of your chart you want to head right here where it says chart settings yours may look like a gear or a settings gear you want to click that and you want to go over to background now you can change it to whatever color you like and the cool thing about this is it breaks your chart into two halves so if you want to go with like a purple on the top and a white on the bottom or a purple on the top and a a dark black at the bottom it breaks it up and it kind of Blends it together so that's one cool thing you can do and you can play around with it whatever you like whatever works for you you can play around with it and find your chart scheme I personally like the black on black so I'm going to go with that so you can see I also have these vertical and horizontal lines in there if you want that you just click vertical and horizontal and you can change uh how strong you want the lines or if you want them more subtle you can customize this however you would like the next thing you want to do is you want to put on a watermark now what a watermark is it shows you the ticker and the time frame that you're looking that you're looking at so we're on the daily right now it shows you we're on Pepsi on The Daily and that's nice to have in a background so you always know what you're looking at you don't have to second guess so to navigate through this chart if you have a mouse and you want to go from left to right like this what you do is you click you hold and if you want to go to the left you swipe right on your mouse or you drag Dr right on your mouse and on the other side if you want to go right you click hold and then you drag your mouse to the left and that'll take you right if you want to enlarge these candles one way you can do is you can scroll on your mouse left if you scroll down it widens your chart if you scroll up it shortens your chart and then you can see more candles if you want to zoom in closer you come over to this price bar right here you click and then you swipe up and then you can scroll on your mouse and that'll key in to what level what what area you want to see so once again if I want to zoom out I will scroll down and then I can move over with my mouse or another way is you can come down here click and hold drag left and drag right and that'll do the same thing now it may take you a while to get comfortable with actually doing this um but after you get comfortable you'll be able to quickly zoom into what you want to do and you just click and hold for whatever area that you want to see now if you have a trackpad then what you do is you put both two fingers on your trackpad and if you want to expand out you just separate your fingers you let them go away from each other and if you want them to come back in you just bring your fingers close together you swipe in with your fingers if you want in large you take your trackpad you click hold and then you swipe up if you want to make them smaller you click and hold and you swipe down now I highly highly highly recommend that you buy a mouse because it makes your charting way faster and it allows you to navigate through trading view much much quicker so if you don't have a mouse it's not necessary but I highly recommend it as you will cut down a lot of time with your charting and navigating so next I'm going to show you how to see multiple screens so if you come up here to this box right here this is showing that we have one screen now you can select multiple screens you can go to two screens side by side two screens up and down uh you can do six screens if you want to if you have the if you paid for the next higher tier uh I like four screens I like to do four screens you can do them like this you can do them like this however you would like to do but I like four screens um so I can look at different time frames with four screens and let me change the settings on this one boom boom now next what you want to do is you want to come right where you had layout click that and scroll down and you want to make sure that your Crosshair is turned on if your Crosshair is turned off whatever I do to one screen it will not show up on the other screens sometimes it may but sometimes it won't and you don't want to chart on one screen and lose everything trying to go to another screen so you want to make sure that your symbol is turned on if you want to see the same symbol on all four screens if you want to look at different symbols different tickers and contrast at the same time then you will turn symbol off but if you want to look at the same Ticker on different screens you want to make sure symbol is turned on and Crosshair is turned off I'm sorry symbol is turned on and Crosshair is turned on you want to make sure interval is turned off if you have interval turned on if I click a daily it will make all of these screens daily and that we don't want that so next I will show you how to add time frames so as of right now we have the daily time frame now if you want to add time frames you just click day and then more time frames will come up now you may not have all of these time frames that I have and that's because I added them so first yours may just say the day so let's favorite the day and that'll allow it to show up and if we favored let's say the week now the week shows up so if you want to add more time frames instead of clicking the daily now now that you have two time frames you click this drop this down arrow right here and then you can add more time frames so let's add the day the week and then if you click the star it favors it we'll add the month the 3 month and the 12 month and as you can see we have all of these different time frames right here so I'm also going to give you all of the time frames I use and we'll break down what these time frames mean in a future video but I will give them to you now just so you have them if you do not see the time frame that I'm referring to on your list what you're going to do is you're going to scroll all the way down and right here you see you have a number it says minute and add so let's say I wanted to add a 13 week so what I would do is I would come down here I would type 13 I would click this to week and then I would click add and now I have it in my list now if I wanted to favorite this and I wanted it up here all all I would have to do is favorite it and as you can see boom 13 wheat I'm going to take that off because I don't use a 13 week and then I'm going to delete it so here are all of the time frames that I do use so that you can also add them on your chart so I use a 15 minute a 30 minute 45 minute 65 1 195 and if you don't have the 65 or the 195 you can just use that same method scroll to the bottom type in 195 click it to minutes and then click add I use the one hour the 4 Hour the day the two day The 3 Day the 4 day the five day the 7 day the 10 day and the 20day the two we the 3 week four five um seven 9 and 12 uh we can take 12 week off just the nine and then for month we have the one month the two month the thre month the four month the six month and the 12 month now if you need to go back and um slow it down or pause it to add them you can do that now but now you we have all of the different time frames showing up right here in my list so I built the list of time frames now that I can just click on whenever I need them so now that we have our time frames we have Crosshair turned on in our layout and if you can't as this list grows if you can't find the settings over here all you have to do is either click this arrow and it'll move you over or you can swipe on your mouse and it'll it'll move you over now what you want to do is you want to go to this little Globe right here now yours may look like a paperclip but you want to click the globe and what this does is this syncs your layouts across all of your different layouts it syns your layout settings across the different layouts so you want to have that clicked on and whatever you draw on this one it should show up on the other ones so so as you can see I drew it on this one it showed up here here and you probably can't see it on here but it's on this one also and if I delete it off of this one it'll delete it off of all of them so next I'll show you how to search a ticker so if you want to see a different ticker you just come up here to this magnifying glass and then you can type in whatever you want so if you want to look at Coca-Cola you type in Ko if you don't know the symbol for what you're looking for you can type out the name of the company and it should pop up um but if you know the symbol's name you could just type in the symbol's name click KO and then this will take me to Coca-Cola let's go back to pep so now we have our ticker search next I will show you our toolbar so if you come over to this left side you'll see we have different tools now the first one right here this is your cursors so Some people prefer to use the standard mouse cursor and you can move around freely like this if you want to but I prefer to use the cross now the reason I like the cross is it gives you a line vertically and horizontally so if I hover over something I can see how many times candles in the past may have touch that same area so if I hover over if I hover over this right here if I hover over this line I can scroll to the left and I can see how many times did other candles touch it so that's why I like to use the cross and if you want to zoom in on a specific pain all you have to do if I want to look at this layout right here I just click the these two arrows that are pointing away from each other click that and that maximizes the chart for me so now I'm looking at the daily and if I want to click out of it I just hover over the bottom and I can minimize it and go to back to the four charts so that's how you do that the next one is we have our drawing lines our trend lines we have our trend line ray extended line horizontal line horizontal aray um and if you like a tool what you can do is you can favorite that tool and it'll show up in this box right here so you can build like a little uh toolbar so let's say I want to favorite text I can just start and now text shows up right there so if there's a tool that you use pretty frequently you just favorite it and you don't have to come over here and look for it every time it'll be right here and you can also move this wherever you want it to I like to put mine at the bottom and out of the way here we have our FIB levels which I will teach you about Fibonacci retracement in future videos here we have our patterns here we have our wrist to reward ratio tool so the cool thing about this is this can give you your or risk to reward so if we are looking at a long position or C or we expect price to go up what we can do is we can click this tool click long position and let's say we think it's going to go up from here and we think price is going to go to here we can place where our stop loss will be so let's say our stop loss will be right here and this will give you the risk to reward ratio so if we have a stop loss here and we expect to take profit up here we have a 5.5 to 5.5 to1 ratio and you can do it on the opposite end if you think price will fall um then you go to short position and let's say you think price will fall here all the way down to here with the stop loss of here you have a 4 to1 ratio so this is a pretty cool feature to have also uh here we have our paintbrush so you can mark up on things they also have different shapes so if you want to Mark a arrow you can do that there um the text very useful tool if you want to be able to type something you can add text to your charts you can change the color of the text um if you go to the settings you can change the color you can change the how big the letters are you can make them bold and a Tyle size and it will pop up there here we have our magnet now the magnet is very very important to have on and you can just go with the weak magnet you don't have to have strong magnet the reason you want to have your magnet on is because in trading you want to be very very precise where you mark your entries and your exits so if I want to draw on this chart and I don't have my magnet on let's say I want to enter here now as you can see it says that this line is at 16739 if I hover over this candle if you look right here it shows you the values of this candle so this shows that the eight or the high is 16741 but this line says 16739 that's because this line goes wherever you place it now if you turn the magnet on this allows the line to snap to wherever you place it to so if I place it here I see that it says 16741 hover over the candle It also says 16741 right there and if I go here it snaps to all high points open points close points and low points any anywhere that there's a point on this candle it snaps to it and that's very essential when you are marking your entries so you want to make sure that you have your magnet turned on the next tool is the staying drawing mode tool so normally if you want to click a drawing such as this horizontal array every time I want to put a new horizontal array I have to come back down and click it again like so if you go to stay in drawing mode you can just click it once and click multiple times and it'll pop back up now to turn this off you unclick it you come over back to your cross or your cursor whichever one you use and then you are out of that mode and now you can click around if if you don't unclick this and you stay in this mode if you try to drag your chart it's just going to keep putting lines so you want to unclick it first go to your cursor and then you can get out of that mode now if you want to lock your drawings you hit this little lock button and what this does is no matter if I click this or not it will not move the drawings that I have and this can be very useful when you're trying to navigate through through um the trading view chart if you don't have this on sometimes when you're swiping if you're trying to swipe down you might accidentally bump or move one of your lines so you can lock it and that way you will not interfere with these lines now the next thing you can do is you can hide all of your drawings at the same time so if you click this little I right here you can draw you can hide all of your drawings so you click that and they're gone and here is how you delete all of your drawings at the same time so boom that is how you do that the next thing I'm going to do is I'm going to show you how to set an alert so if you want to set an alert let's say you don't have time to look at the chart all day or you just want to know um whatever you looking for when it's about to happen so what you can do is you can use one of these lines you can use this one you can use any line you want and what you do is you come up here you click the line you come up here and you click the alarm clock now this allows you to create an alarm you can pick when it's Crossing when it's Crossing up when it's Crossing down however you want it to trigger and then you can choose how many times you want it to trigger you want it to trigger every time it touches it once per minute um those are your different settings for there you can pick when do you want this alert to expire and then you can name the alert so you can click up um you can put whatever message that you want to put a Pepsi is clicking is going one um is crossing a horizontal array whatever message you want to put and what this will do is once price touches this line it'll send an alert to your phone and it will also make a blaring alarm sound so if you're not looking at your computer you can come over to your computer and see why the alarm why the alert is going off so that's one way you can set the alert another way that you can set alerts and if you want to delete the alert you just hit the trash can it'll make sure it'll ask you to confirm that you want that alert deleted and you just click yes another way you can do it is you can click alerts right here you can click add create an alert and then you can go to the price point that you want to create an alert at I like to personally put a line line on it so I can see it and um I can actually watch it cross through so um you can create an alert like that and it'll give you a line this is your alert right there and then you can delete it if you want to do it that way so next I'm going to show you how to add indicators so if you come over to this this right here this is where your indicators are going to be so if you wanted to add a indicator let's say you wanted to add volume you would type in volume and it will pop up now usually the most basic indicators will be at the top and as you scroll down more there'll be more um different scripts that people input on here and they may have their own um vers version of volume they may have added some things but your most common or your most basic is going to be at the top and if you want that then you click it and if you want to add it to your favorites you just start and that will add it to your favorites list like so so I'm going to add uh let's add this one boom so now I have my indicator now you when you first put your indicators on here yours may look something like this and you'll have all these different values going across your screen I like to turn that off because that's just unnecessary information on your screen and I also only like the ticker name right here I don't need the full name or anything like that so what you do is you come back over to your settings you click status line first you go to title and this will change it we will change this just to Ticker so now it just says pep and then if you come back down to indicators what you want to do is you want to turn off arguments and that will take the that will take all of those words off now let's say I wanted to add whatever settings I had for this indicator I wanted to put a I wanted to put this indicator on here I wanted to put this indicator on here and they all had their individual settings if I'm happy with those settings and I want it to I want these indicators to work together with these specific settings what I can do then is I would come over to indic indicator templates it's these four little boxes right here and then I can save this indicator template so let's say I wanted to save this as whatever you want to call it and you can put you can put this template on a specific ticker too so if I want Pepsi to specifically have these indicators I can go to remember symbol um if I wanted to go specifically to Pepsi daily I can go to remember interval so we're going to save this and watch what happens even when I delete them I'll take them off now if I go back to that template click that they're right back so that's one way you can put a template on your indicators So speaking of templates I'm going to show you how to create templates for your tools so templates are very useful to have because when you're charting you're charting the same thing constantly you chart the same um words the same um you chart the same thing over and over so what templates allow you to do is instead of having to type out the same thing over and over and over again it saves a specific setting that you have and it allows you to just C cck it and you don't have to go back in there and edit the settings so for instance if I use this tool and let's say we make this uh we'll make it Pink and we'll click the settings we'll make it Pink we'll make the words this color we'll make the font 20 we'll make it bold and italicize and we're going to put uh let's put Friday let's type in Friday if I come down to template click the arrow and I click save as and let's say we name this as fry and I click save no matter what I do it'll always come back to this um format so let's say let's click the let's click it again we're going to change all the settings on here so let's say we have this color yellow text this whatever we'll make this dotted and we'll make it thick right now you see how it says this if I come over and click the line I can either click this right here and these are my templates or I can rightclick the line hit templates and we saved it under fry and it'll come back to exactly how we saved it and this could be very useful when you're charting the same things so here I have a list of things that I'm constantly putting on my charts and I don't have to go back in there and change the different settings I can just click the template and it'll go to the settings that I set for it so that could be very very useful so next I'm going to show you the object tree so with the object tree this allows you to stay organized with your tools your indicators your templates all of those different sorts so for the object tree it'll look like this stack of papers right here yours may be down here but it's this stack of papers right there now what this does is if I put let's put some different lines on here right so now we have individual lines the object tree allows you to group certain categories and you can make changes on all of them instead of doing it one by one so what you would do is you would come to this little folder with the plus sign right here you click that and then it says group one you can rename this to whatever you want you just click it and let's name this as um we could stick with Friday again and now what you want to do is you want to add these other ones to the group so you can click and hold command release and then you drag them sorry try try that again click release and then you drag them to the group and you know they're in a group when they're all lined up like this you seen how before some of them were over here they're all lined up and now what I can do is I can lock all of these at the same time I can hide them all at the same time and I can apply templates to them all at the same time so if I rightclick Friday and I click settings I can add different templates to them and they will all change at the exact same time so this is pretty cool for grouping things that you um use pretty frequently and you can do this for any of the other tools now when you add templates to the different tools it will only add a template for that specific tool so this is a horizontal array if I go to a horizontal line that will have its own specific set of templates so each tool you use will be a different set of templates so if I do that one if I use a a line that's going to have its own set of tools if I use a rectangle that's going to have its own set of templates so whatever you whichever tool you're using is it's going to have its own specific set of templates and you have to build your templates based on that tool so that is how you do that I'm going to um if I want to delete all of these at the same time I can just go to the group Friday click the X and it'll delete all of them at the same time now let's say you only wanted to do something for one of the lines right and they're in a group you don't know which one is which you just click that line uh let me get out of this you just click that line and it'll highlight which one it is and then you can do whatever you want to do individually to it so we're going to delete these so the object tree is very useful very um it's a very good way to for you to stay very detail oriented and have everything grouped how you want them to when it comes to charting you're going to be charting a lot so you want to make things as easy as possible as systematic as possible so that you don't have to waste time you want to be able to C uh cut down your charting time as much as possible so let's see how to add tickers to a watch list so if you come over here and you click this right here you may not have any tickers here now so if you want to add tickers what you would do is you come to this plus symbol click add symbol and then you can add all of the tickers that you want to add so let's say I want to add apple I want to add um oh I added the wrong one Apple uh Microsoft meta and you just click enter and it will pop up right here so now you have different tickers that you can add into this watch list now if you want to break up these this into different groups if you click settings you click add a section let's say we want this section to be uh next week so we'll be looking at this next week you can add that section right there and then you can add more tickers to that specific group so let's say we have Tesla uh Nvidia boom and now those are added under its own group and you can change the name to whatever you want your watch list to be now if you want to share your watch list with somebody then you just click these three dots right here make sure share list is turned on and then you go to copy link and that'll copy it to your board and then you just have to paste it wherever you want to send it if you want to screenshot and share your chart a picture of your chart with someone all you do is you come right here you click this camera where it says take a snapshot click that now you can either download it and it'll go straight to your downloads and on your computer or you can click copy image and it will screenshot this for you and wherever you want to send that chart you can uh paste it there and it'll show you the picture that you snapshotted so that's another cool feature now one of the best things about trading view is something called bar replay now if you want to go to Bar replay it's this little rewind button right here and what bar replay allows you to do is it allows you to go back in time and cut out some of the bars so that you can test your strategy um you can learn price action or you can just see how things play out and how you would have um dealt with them in real time it allows you to see things as if they're as close as possible how they're happening in real time so what you do is you click the jump to right here and then it allows you to cut out what wherever you want to cut out so you can also draw lines on them so like if you want to practice your charting you can do that and you can jump to a smaller time frame also and those lines will still be there and it'll still be on the same date that you jump to now the smaller time frame you go to the more bars there will be so if you have a regular plan or just the if you have basic plans it only allows 10,000 previous bars so if you have a more upper tier plan I believe it allows you 20K and so forth but just keep in mind the the lower the time frame the more bars you will have and the harder it will be for you to go back into replay mode because it won't have that data you really don't need to go too far back on a smaller time frame anyway ways if you are looking at a um at the bar replay now to actually start the bar replay there's two ways you can do it you can either press play and you can change the speed of it and you can just let it play out you can speed it up or you can slow it down like this or what you can do instead of that you can press this little fast forward button and every time you click it it'll give you a new bar and you can just keep following it along so that's how you would use the bar replay and to get out of this mode you just come back up to the bar or you can go to jump to real time but you'll still be in bar replay mode to get out of the mode completely you just click this do you want to exit bar replay mode yes and boom you are back to real time and you can go back to whatever chart that you were looking at so I credit a lot of my trading success trading knowledge to the bar replay mode it's a very very useful tool after you learn something and you don't want to wait all day to see it play out in real time you can use this bar replay Mo replay mode and it'll show you as it's happening in a real time so you can see if you are right if you are wrong and you can kind of perfect and hone in on your strategy so that is highly recommended that you try the bar replay mode you play around with it and you actually use it as you're learning on your journey I think it's very very very helpful so let's get out of this now as you navigate through the different screens if I want to go back to my for screen I just click this it's important that if you're going to use a multiple screen layout don't stay on the one layout screen chart and chart on this and then try to click to a different layout if you want to look at one screen just maximize that screen and then chart on that because what can happen is if you only chart on this one right here and then you click the four or the two or the three whichever one you you like to chart on it may not save your drawings to those other charts so you would have wasted all of your time by drawing on one chart and you have to go back and draw on the other ones so just start on the four and then minimize to one if that's how you want to do it but if you want to look at multiple screens I don't recommend you staying on one just click whatever number screens you want to look at and just zoom in and maximize that specific chart now trading view also offers um some other things if you take a look over here we went over to object tree we look at the alerts um if you scroll down you can see um earnings on here we have a Calendar's earnings um you can look at that if you scroll down on a ticker you you can see uh some fundamental analysis they have their reports their earning reports dividends income statements you can see their performance over a certain amount of time and it also shows you the technical and Analysis ratings so for Pepsi the technicals say that it's at a strong sale and if you look at the analyst ratings it tells you that you should buy it now you have to take this with a grain of salt but trade and view does offer you to see the analysis the analyst ratings for whatever you're looking for it also shows you when earnings is and how they perform so if you come down here hover over it click it it shows you when earnings was and how they did it also shows you when the next earnings is coming up they just had a earnings so you won't see it but it shows you when the next earnings will be coming up and then you can go back in the past and see how they did on previous earnings it shows you when Dividends are paid out right here and sometimes it'll drop some news for you some headlines so that's another cool feature you can save different layouts if you want you can come up here and have different settings for different layouts um you want to make sure you save them keep this on so you don't do all your hard work and then exit out and it's not there anymore so you can have different layouts for what you're trying to do so trading view is very customizable it's very personal it's whatever you make it it's part of your personal journey and it makes trading a lot easier when you know how to navigate through trading View and you know how to automate things you want things to be the same every time so you can just go here go here you're done with it you don't have to sit there and fumble around with it it may take you a a little bit to get used to but once you get used to it it kind of never goes away it's like riding a bike you always know where stuff is you always know what templates you have saved you want to set yourself up for a success and be organized so when it's time to trade all you have to do is execute you don't have to think you can just chart you already had your chart your charting done previously to the trading day and now you're just ready to execute so as you go along with this try to find things that you like try to personalize it for you if you like Hollow candles you can make them Hollow if you want you can make this whatever you want if you want to change the color of the candles you come up to your settings and you can change the colors right here however you like it trade and view has something for you so I hope you go back through this video and pause it for wherever you need help for setting up trading View and have fun with it it's your platform it's however you like it and it will be a great help for you to use if you have any questions what help setting up trading view that I didn't cover feel free to send me a DM one of the other moderators or admin send them a DM or hit our beginners chat and we will help you with that and yeah guys thank you for coming for this lesson and I will see you in the the next one