Why Trading View Is Crucial For Anybody Involved In The Business Of Trading

Being a stock broker, trader, or anyone involved in the business of trading requires a lot of things: a financial background, the ability to work comfortably with numbers, the capacity to think and perform well under pressure situations are some of the few characteristics.

However, whether you are a novice or professional, there is another indispensable tool you need to be an active part of the trading sphere: TradingView. What is this site, what’s special about it, and why is it useful? This article answers those questions.

What is the Trading View Tool?

As the name suggests, this essentially gives the user a “trading view”, i.e., access to everything one would ever need to be a trader. TradingView is an all-in-one website for anyone involved in stock market trading, covering everything from basic price charts to complex strategy backtesting. It also provides a social platform where traders across the world can interact with each other and place live orders.

What Features are Available?

There are four types of accounts you can have on TradingView: basic (free of cost), pro, pro+, and premium, and based on which package you have chosen, you get access to some or all of the features available on the site. Note that if you refer a friend to the site, both of you get a $30 discount!

1. The Best HTML 5 Charts

TradingView has a lot of advanced visualization features like spread charts, volume-based Rengo and Kagi charts, and several smart drawing tools to create custom charts based on your requirements. Comparisons of indexes, prices, and currencies are things that every trader does daily, and this site provides you with the features like the multi-chart layout to do that. There are also specialized charts available to capture drastic price movements.

2. Instant Alerts

Just like how you set market parameters in algorithmic trading to meet a certain standard to trade, TradingView can give you instant alerts via mobile or email if the market scenario meets the custom criteria you set. For example, you could ask to be notified if the 50-day moving average for the Google stock (GOOG) goes below (or above) a certain threshold. Whether you want alerts on market indicators or drawing tools, you will always get notified thanks to the powerful and backed-up servers.

3. Stock Screener

There may be times when you don’t want the stock of particular companies, but you want any stock that meets some specified criteria. That is what the TradingView stock screener does: it lets investor filter and find stocks that meet criteria specified by them. You can filter stocks based on an index, performance, price range, and so on and also get notified when the screener finds a match.

4. Data Coverage

Be it Forex, stocks, futures, or even cryptocurrency, TradingView’s commercial data feed has direct access to all the markets and indices. Data regarding company earnings and dividends, major economic events that could swing prices, and hundreds of global reports are some of the other tools you can access through the platform. You can also follow financial news, make notes online, and keep track of the top best/worst performing stocks every day.

5. Public Chats, Comments and Scripts

After verifying their phone numbers, new users will be able to view the ideas and posts of others and comment on them. Conversations in the main public chat rooms are only in English – for everyone to understand – and are restricted only to trading and related topics (custom chat rooms allow other languages too). As long as you maintain good etiquette in the chat rooms, you can participate, share ideas, and learn from experts.

As a broker, you can also leave a review to talk about your experience. If you publish a new idea that you wish to share, it will accessible be on your blog or profile page, and with a direct link, your followers will also be notified. The best, most meaningful, and interesting ideas will be floated to the top of the page under the “Trending” category.

It is good practice to spread knowledge in a like-minded community. That’s why, just like publishing your ideas, you can also share your scripts and code on TradingView (it will appear under the Scripts tab on your profile).

You can choose the visibility options if you share a script: who can view, access, and edit the code. Make sure the script is original and that it has comments and descriptions so that everyone can understand.

6. Free Widgets

Do you want a cool pricing chart or live market quotes on our blog or website? TradingView gives free stock widgets like charts, technical analysis widgets, market data widgets, and more that you can incorporate in your website for free.

7. Lightweight Charting Library

Interactive, live financial charts give a wealth of information about the current market scenario. With a library that weighs just 43 kB, TradingView’s open-source charting library is completely free! With rich features and plenty of style options, this high-performance mobile-friendly feature seems too good to be true, but it is.

8. Trading

After all the charting, math calculations, and analysis, ultimately, traders want to buy or sell securities to make profits. TradingView gives learning simulated trading platforms where they can practice the skill with virtual money before being part of the real market.

For those who are confident, the website also provides a way to connect to other brokers and the live market to place orders. You can also automate repetitive tasks to make your trading process smoother and more efficient.

The trading platform is standalone and is licensed to brokers with associated licensing fees. With a front-end of industrial standards, the platform is responsive, fast, and can be accessed from both the web and through a mobile app for convenience.

Sign Up Today!

With a plethora of features for traders of all levels and markets, TradingView is the ultimate tool for everyone in the trading space. The one-stop-shop gives you access to enough visualization tools, data, and trading practice for you to go from novice to professional. Make an account today and also check out the collaboration between Alpaca and TradingView for commission-free trading!

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