How to Use TradingView: A Step-by-Step TradingView Tutorial
Welcome to our step-by-step TradingView tutorial! If you’ve been looking for a friendly guide to help you navigate the popular charting platform called TradingView, then you’re in the right place. We’ll take you through the entire process, step by step, and help you make the most of TradingView’s powerful tools. So, let’s jump right in and start learning how to use TradingView for beginners!
TradingView: A Quick Introduction
TradingView is an excellent, web-based charting platform that’s perfect for keeping an eye on the financial markets. It’s designed for traders and investors all around the world, and it covers a whole bunch of assets like forex, stocks, cryptocurrencies, commodities, precious metals, and even government bonds.
What’s great about this platform is its user-friendly design and advanced charting tools, which make it perfect for beginners and experienced traders alike. You can create custom charts, use technical indicators, and dive deep into market analysis – all without downloading any software.
One thing that really sets TradingView apart from other charting platforms is its focus on community and sharing knowledge. Users can post their own trading ideas, analyses, and strategies, creating a space where traders can learn from each other. You’ll find both articles and short videos, and you can follow, like, and comment on the content shared by others.
Thanks to this social side of TradingView, a lively, global community of traders has sprung up. This is a place where traders can connect, share their insights, and grow together. By giving traders a platform to show off their expertise, TradingView helps everyone learn more, develop their skills, and make smarter decisions in the world of trading and investing.
Getting Started with Your TradingView Account
Before we jump into the awesome features of TradingView, let’s set you up with an account. It’s super easy, and there are different subscription plans to choose from – Free, Pro, Pro+, and Premium. Each plan has its own features and pricing to fit the needs of traders at all levels.
First, head to the TradingView website and click the ‘Sign Up’ button. You’ll be asked to enter your email address and create a password. Or, if you want to keep things simple, you can sign up using your Google, Facebook, or Apple account.
After you’ve signed up, take a minute to personalize your profile. Add a profile picture, share your trading experience, and fill in any other relevant info. This not only makes your profile more trustworthy but also helps you connect with other TradingView users.
Now it’s time to pick a subscription plan that matches your trading goals. The Free plan is a solid choice for beginners, but if you want more advanced features like extra indicators, alerts, and faster data flow, you’ll need to go for a paid plan. Don’t worry, though – you can always start with the free version and upgrade later as you get more comfortable with the platform.
TradingView’s interface is super easy to use and understand. Let’s go over some key areas you’ll want to check out:
Homepage – TradingView
Products: Here, you’ll find excellent tools like price screeners, heatmaps, and alerts for stocks, cryptocurrencies, and other assets. These can help you spot trading opportunities and keep an eye on market trends.
Community: Connect with other traders, swap ideas, and learn from experienced pros. You’ll also find a huge library of trading indicators and strategies made using Pine Script™, TradingView’s programming language. Use these resources to level up your trading strategies and test your ideas.
Market: Quickly find and analyze the assets you’re interested in with curated watchlists and filters. You can make your own custom watchlists or use pre-made lists, like the “FANNG” stocks. Narrow down your search based on things like volatility, top gainers, or market cap.
News: Keep up with the latest news about your favorite assets. This section gives you real-time info on market events, so you can make smart trading decisions.
Brokers: Compare and review different brokers to find the one that’s perfect for your trading needs. You’ll get valuable insights into fees, available assets, and platform features.
How to Use TradingView’s Chart Window: Your Complete Guide
Chart Window – A Step-by-Step TradingView Tutorial
When you log in to TradingView or look up a symbol’s chart, you’ll see the chart window, as shown above. In this guide, we’ll break it down for you. The chart window has five key areas: the main window, top menu, left menu, right menu, and bottom menu. Let’s get to know them better in this step-by-step TradingView tutorial.
TradingView’s Top Menu
Top Menu – A Step-by-Step TradingView Tutorial
Symbol Search: In the top left corner, you’ll find the symbol search bar. Use it to find the stock, currency, or index you want to analyze. Type the ticker symbol or the name, and a dropdown list with relevant matches will appear. Pick the asset to load its chart.
Compare Symbol: To compare the price movements of multiple instruments on one chart, click the “Compare” button, enter the ticker symbol of the asset you want to compare, and a new line will be added to your existing chart. This helps you analyze the performance and correlation between different assets.TSLA vs NVDA – TradingView
Timeframe: You can adjust the timeframe of your chart to view data on various scales. Choose from intraday timeframes like 1-minute, 5-minute, or hourly, or longer ones such as daily, weekly, or monthly. Picking the suitable timeframe will match your trading style and strategy.
Chart Types: TradingView has multiple chart types for different analysis styles. Click on the chart type icon to see options like line, bar, candlestick, hollow candlestick, area, baseline, and Renko charts. Experiment to find the one that works best for your analysis method.
Indicators: Amp up your technical analysis with TradingView’s vast selection of indicators. Click the “Indicators” button and browse categories, including trends, oscillators, and volatility indicators. Some cool trend indicators include Arnaud Legoux Moving Average, MA Cross, and Triple EMA.
Templates: Quickly apply a combination of indicators to your chart using pre-built templates. Pick a template from the dropdown menu, like Displaced EMA or Oscillators, and the chosen indicators will be automatically applied to your chart.
Alerts: Set up customizable alerts to let you know when specific conditions are met. Click the “Alerts” button, define your alert criteria, such as price crossing a certain level or a specific indicator reaching a threshold value. Choose to get alerts via email, SMS, or as a pop-up notification within TradingView.
Replay: The Replay feature allows you to review past market movements. Click the “Replay” button to scroll back in time and watch historical price action. This tool is handy for reviewing your trading strategies and learning from past mistakes or successes.
Undo and Redo: If you make unwanted changes on your chart, don’t worry! Use the undo and redo buttons to fix them. These options help you quickly revert or reapply actions, making fine-tuning your chart analysis a breeze.
Layout Selection: With several charts on one tab, you can easily monitor multiple stocks and use various timeframes for your research. However, the free plan limits you to just one chart per tab. To enjoy this feature, you must upgrade to a paid subscription.
Layout Management: In this section, you can duplicate and rename your layout. If you have a paid account, you can also download the chart’s data.
Settings: Personalize your chart’s appearance and functionality with the settings menu. Change chart colors, background appearance, or tweak other visual elements to create a comfortable trading environment that suits you.
Take a Snapshot: To save or share your chart analysis, click the “Take a snapshot” button to capture your chart’s current state. Save it to your computer or share it on social media platforms like Twitter.
Publish: Connect with the TradingView community by sharing your trade ideas and analyses. Click the “Publish” button in the top right corner to open the editing page. Fill in the required information and follow the instructions to publish your trading idea successfully. This feature encourages knowledge-sharing, collaboration, and mutual learning among traders, creating a supportive and growth-oriented environment.
TradingView’s Left Menu
Left Menu – A Step-by-Step TradingView Tutorial
Cursor Selection: Pick your favorite cursor style – Cross, Dot, or Arrow. Need to delete drawings on your chart? Just switch to the Eraser cursor for hassle-free removal.
Trend Line Tools: Boost your chart analysis with different trend lines, like horizontal, vertical, or even regression-based lines. These tools help you spot support and resistance levels, the trend direction, and possible breakout points.
Gann and Fibonacci Tools: TradingView’s left menu has advanced drawing tools, such as Fibonacci Retracement, Schiff Pitchfork, and Gann Box. Use them to examine price movements and predict potential support and resistance levels using math concepts.
Geometric Shapes: Add shapes to your chart for a visual boost or to emphasize specific areas. Pick from a variety of options, including rectangles, ellipses, and triangles.
Annotation Tools: Make notes on your chart with text boxes or link to idea articles right on the chart. TradingView provides a full suite of annotation tools to help you share your thoughts effectively.
Patterns: TradingView makes it easy to draw complex patterns like XABCD, Triangle, and Elliott Impulse Wave patterns. Use these tools to spot and analyze recurring patterns that could suggest future price movements.
Prediction and Measurement Tools: Create and track predictions with the Prediction tools, which show “Success” or “Failure” based on how accurate your forecasts are. Plus, use the Measurement tools to quickly find price ranges, date ranges, and total volume between two points on your chart.Price Range – TradingView
Icons: Personalize your chart by adding icons to emphasize specific data points or events.
Measure: Use the Measure tool to accurately find the date range, price range, and total volume between two points on your chart.
Zoom: Change the zoom level on your chart to focus on particular time periods or price ranges.
Magnet Mode: Turn on Magnet Mode to automatically snap your drawing anchors to the closest candlestick’s OHLC (Open, High, Low, Close) values for precise alignment.
Stay in Drawing Mode: Activate this mode to keep your chosen drawing tool active, so you don’t have to reselect it every time.
Lock All Drawing Tools: Avoid accidental changes to your drawings by locking all drawing tools. This mode stops you from editing or moving your drawings.
Hide All Drawings: Temporarily hide all drawings on your chart for a clutter-free view of the price data.
Remove Object: Use this option to selectively remove specific drawings from your chart.
TradingView’s Bottom Menu
Bottom Menu – A Step-by-Step TradingView Tutorial
Screener: The screener tool helps you filter and discover stocks, forex, and crypto pairs based on specific criteria. Click the right option in the bottom menu and adjust the market and timeframe to your preference. With filters like price, volume, and technical indicators, spotting potential investment opportunities becomes a breeze.Stock Screener – TradingView
Pine Editor: The Pine Editor is fantastic for creating custom indicators and strategies using TradingView’s unique Pine Script programming language. While exploring Pine Script goes beyond this beginner’s guide, you can check out community-shared scripts or make your own from scratch. Click the Pine Editor tab in the bottom menu to dive in and start working on your trading scripts.
Strategy Tester: Backtesting is essential in investment analysis, as it lets you see how a trading strategy has performed historically. Even if you’re not an expert at programming strategies, TradingView offers plenty of pre-built ones to choose from.Indicators, Metrics & Strategies – TradingViewClick the strategy tester tab in the bottom menu to begin. Select a strategy, adjust the parameters using the “gear” icon, and then examine the signals generated by your chosen strategy and analyze its performance over time.Backtesting – TradingViewKeep in mind that past performance doesn’t guarantee future results, but backtesting can give valuable insights into a strategy’s potential effectiveness.
Trading Panel: The trading panel allows you to connect your brokerage account directly to TradingView, so you can trade without leaving the platform. Click the relevant tab in the bottom menu to access the trading panel. Follow the steps to link your broker, and you’ll be able to place orders, view positions, and manage your account seamlessly within TradingView.
TradingView’s Right Menu
Right Menu – A Step-by-Step TradingView Tutorial
Watchlist and Details: Keep an eye on your favorite stocks, forex pairs, or cryptocurrencies with the watchlist. Add a symbol by searching for it and clicking the ‘+’ icon. Under the watchlist, you’ll find detailed info about the chosen symbol, like its open, high, low, and close prices, plus volume data.
Alerts: Stay on top of essential price moves or technical indicator signals for your watchlist with the alerts section. Click the ‘Alerts’ tab in the right menu and set your criteria. You can also see existing alerts and any triggered ones for future reference.
News: Check out the ‘News’ tab to stay informed about news and events impacting your watchlist. You’ll find a curated list of articles related to your selected symbols, keeping you in the loop on market happenings.
Data Window: Get a quick overview of key info for your selected symbol by clicking the ‘Data Window’ tab. You’ll see the date, open, high, low, close, change, and volume data at a glance.
Hotlists: Discover trending stocks or cryptocurrencies with the ‘Hotlists’ feature, highlighting popular financial instruments based on factors like market cap, volume, or percent change.
Calendar: The economic calendar is essential for tracking upcoming market-moving events, such as GDP, CPI, and earnings releases. Click the ‘Calendar’ tab to see the schedule of crucial data releases and plan your trades accordingly.
My Ideas: Keep all your published trade ideas and analysis in one place with the ‘My Ideas’ section, making it easy to track your thoughts and strategies.
Public Chats: Join TradingView’s chat rooms to discuss market insights and opinions with fellow traders. There are rooms for various topics like cryptocurrency, stocks, and even specific ones like TSLA.Public Chat – TradingView
Private Chat: For one-on-one conversations, you can use the private chat option.
Ideas Stream: Stay updated on the latest ideas and analysis from authors you follow on TradingView. The ‘Ideas Stream’ tab gives you a feed of fresh content from your favorite authors, ensuring you never miss valuable insights.
Streams: Browse the ‘Streams’ section for a feed of all publicly shared trade ideas and analysis on TradingView. Explore the content to find new perspectives and strategies that can boost your trading knowledge.
Notifications: Keep track of updates related to your TradingView account with the ‘Notifications’ tab. You’ll be informed about new followers, comments on your ideas, or changes to your subscription plan.
Conclusion
In this all-encompassing TradingView Tutorial, we’ve explored the many aspects of the TradingView platform. We mainly focused on the chart window and its top, left, bottom, and right menus. TradingView offers a vast array of tools and features to meet the unique needs of traders and investors. It’s a must-have resource for anyone looking to analyze markets and make smarter decisions.
By learning how to use TradingView effectively, you can greatly enhance your trading experience and make more informed choices in the financial markets. We hope this guide has shined a light on the TradingView platform and inspired those who haven’t tried it yet to give it a whirl.
