In Detail Review with real user-ratings: TradingView

TradingView user-ratings $0
  • Asset varierity - 0/10
    0/10
  • Trading platform - 0/10
    0/10
  • Support - 0/10
    0/10
  • Fees - 0/10
    0/10
  • Deposit/Withdrawal - 0/10
    0/10

Facts about the company:

  • Type: Forex, CFD, and Stocks trading analysis software
  • Regulation: not regulated
  • Minimum deposit: $0
  • Demo account: Free
  • Markets: Forex, CFDs, Stocks, Shares, Indices, Futures, Cryptocurrencies
10/10
Comments Rating 10/10 (1 review)

Pros

  • Free of charge
  • Numerous analytic tools
  • Good usability and adaptability to individual needs
  • Trading ideas and sharing charts
  • Professional charting at the highest level

Cons

  • Not really suitable for direct trading, rather for charting
  • Email and telephone support are not for free

About TradingView

Tradingview.com is a very popular trading software for the analysis of numerous markets and assets. The platform generates more and more attention and popularity among private traders, which is why I personally became aware of this software. In this experience and test report, I will explain all functions of Tradingview to you.

Screenshot of the TradingView landing page

What is TradingView? – Advantages for traders

Tradingview.com was developed in 2011 by the company Multicharts in 2011. Since then, numerous features have been continuously added and improved. So Tradingview.com is not a “one-time product” but is constantly evolving.

Traders can use this software completely free of charge. In addition to the free version, there are also upgrades to a paid version (I will go into this later). With Tradingview you can view and analyze any asset. Use the quick search function and the software will open the chart for you.

In addition to charting, Tradingview.com offers other content such as analyses, news about the markets, chats with other participants. You can also publish trading ideas yourself on this platform and thus reach other traders. All in all it is a very large network of hundreds of thousands of traders. I will go into more detail on the individual points in the following sections.

The advantages of Tradingview.com are as follows:

  • Free to use
  • Every market is available
  • Fast charting functions
  • Web-version and mobile version
  • Infinite analysis tools
  • Analyses from other traders
  • The latest market news
  • Watch lists, alarms, and screeners

How much does Tradingview.com cost?

Tradingview.com is completely free in the basic version. So you can already use 95% of the functions of the platform. For a monthly plan, you get more functions activated. These include the HTML5 charting platform, multi-charts, professional tools, fast market data, futures data, and more.

You can save up to 16% with an annual payment plan. Prices are settled in USD. It is possible to chose between the following options:

  • Basic $0.00
  • Pro $14.95
  • Pro+ $29.95
  • Premium $59.95

Is it worth buying a plan?

In my experience, it is not necessary for the private trader to buy a plan at Tradingview.com. Personally, I am satisfied with the basic version in all its facets. You have to decide for yourself if a plan is worthwhile for you. Every trader has different requirements. For a normal chart analysis with some indicators and tools, the basic plan is perfectly sufficient.

In the table below you will find the unique selling points of the plans:

Plan:BasicProPro +Premium
Price:$ 0 a month$ 14.95 a month$ 29.95 a month$ 59.95 a month
Charts per tab:1248
Custom time intervals:NoYesYesYes
Custom range bars:NoYesYesYes
Volume profile indicator:NoYesYesYes
Screener:NoYesYesYes
Fastest data feed:NoYesYesYes
Real-time data (Futures, stocks):NoYesYesYes
Publication of trading ideas:YesYesYesYes

Which markets are available at Tradingview.com?

You can find almost all markets and assets on the platform. Just enter the name or the identifier in the search field (ticker). This will open a new bar with all markets and assets that have the entered word or code.

The assets are divided into the following categories:

  • Shares (Stocks)
  • Futures
  • Forex
  • CFDs
  • Cryptocurrencies
  • Indices (Index)
  • Economy (Economy)

On the right side under “All Exchanges” you can see the stock exchanges or brokers that offer the market. These can also be filtered. In summary, all markets can be found very quickly using the search function and you can access chart histories and information free of charge.

Market data

Tradingview offers free market data for each asset, but there are important details to be aware of. Forex and CFD data is completely free and in real-time. Data for stocks and futures are not in real-time but shifted. To get real-time data, you need to upgrade your account for a fee. A real data feed from the exchange always costs money. It is an advantage that the data is offered free of charge for futures etc.

Market overview

After you have found the market you want to analyze, a new button opens with a complete overview. For example, I have opened the EUR/USD market and now I see the normal line chart first.

In the Forex market, you can see the different prices of the different Forex brokers. Not every forex broker is available at Tradingview.com (more about this later). Look further down the page and you will see trading ideas from other traders, the latest news about the market, and an assessment of the technical analysis. You can also view some rough facts about the chart (volume, daily range).

Tradingview offers:

  • General asset information
  • Analysis and trading ideas of other traders
  • Technical analysis (automatic)
  • Comparable charts
  • News (News)

Test of the tradingView chart functions

In the next part of this field report, I would like to go into detail about the charting function of Tradingview. I will introduce the most important functions and give you a detailed tutorial. On the sides of the chart, you will find the functions of Tradingview. In the following points, I will go into the different sidebars and their functions.

Upper sidebar:

  • Change the market at lightning speed using the search bar
  • Change the time unit of the chart
  • Change the chart type
  • Compare the chart with other charts
  • Add indicators
  • Fundamental data for stocks
  • Save templates (Templates)
  • Set alarms
  • Take a screenshot
  • Publish your analyses

Time Units And Chart Types:

Tradingview offers time-based and motion-based charts. In the free version there are even rangebars. Other professional chart types are available in the paid versions. In general, more than 10 different chart types are available. You can use any chart type.

  • All-time units available
  • Bars
  • Candles
  • Hollow Candles
  • Heikin Ashi
  • Line
  • Area
  • Baseline
  • Renko
  • line break
  • Kagi
  • Point & Figure
  • Range

Tradingview Compare function:

In my opinion, one of the most interesting functions is the Compare function. You can compare the chart movement of several markets. This allows you to find correlations that are suitable for hedging. For example, you can see a comparison of EUR/USD and gold. You can clearly see that gold falls when the EUR/USD rises.

Indicators:

Another advantage of Tradingview is numerous indicators. A total of over 100 are available and free of charge. Only the known indicator volume profile is locked in the free version. Click on +indicators and find the right indicator for your trading strategy. The names can be entered via the search function.

After inserting the names you can set and configure the indicators. The colors (style) and the size of the lines can also be adjusted. Tradingview offers you here any leeway to realize your ideas.

  • Over 100 different indicators
  • Configurable at will
  • Bollinger Bands
  • MACD
  • RSI
  • Ichimoku Cloud
  • Keltner Channels
  • And many more indicators (free of charge)

Left sidebar:

Via the left sidebar you can access the drawing tools, which are irreplaceable for every trader who wants to perform an analysis. Tradingview is also a pioneer in this area and offers countless tools that can be customized independently.

  • Choose your mouse design
  • Lines to draw
  • Fibonacci and more
  • Rectangles, circles and more
  • Text fields
  • Pattern
  • Risk/profit ratio
  • Zoom
  • Consolidate all drawing tools
  • Hide all drawings
  • Delete all drawings

Tradingview simply offers all imaginable drawing tools. These are also fully configurable for your needs.

Popular drawing tools:

  • Trend Lines
  • Horizontal lines
  • Channels
  • Fibonacci
  • Rectangles

Profit/risk ratio Tool:

This tool is very unique, as very few brokers offer it. The Risk/Reward Tool can be applied to your trading positions. It allows you to show the potential risk and profit of your trading idea in the chart. For successful traders, it is important to create a good risk/reward ratio. In my opinion one of the best features of Tradingview.com.

Right sidebar:

The right sidebar is less concerned with chart analysis. You can access the following functions:

  • Watchlists
  • Alarms
  • Asset data
  • Hotlists (Volatile Charts)
  • Calendar
  • Own trading ideas
  • public chats
  • Private chats
  • Trading ideas (Stream)
  • Notes
  • Order mask
  • Order book

Watchlists:

Watchlists are a very important tool for every profitable trader. Click on the top icon of the right side list and the watchlist menu will open. There you can insert any symbol you want to watch. You will see the current symbol and the daily change.

Details and news:

For more information about the market that is currently open in the chart window, see Details and News. You will see the daily range, annual range, and technical analysis. Below this, you will find the latest news or news for the market. Various news portals feed the information into the trading view platform.

Public and private chats:

Use the public or private chats to exchange information with other traders. Tradingview is a large trading community with over 100,000 daily users. In the public chats, analyses and trading ideas are exchanged. There are also extra chat groups for specific markets. You can also create a chat group. Share your own analyses and ask for opinions of other traders.

Stockscreener (stock searcher)

Another good feature for all stock traders is the Stockscreener. This is a tool with which you can find stocks according to certain criteria. Find extremely undervalued or overvalued stocks for investment using important key figures.

With the “Filter” you can set the individual criteria. Tradingview then shows you the stocks according to certain sorting.

Search for stocks:

  • Sectors
  • Stock exchanges
  • Countries
  • Size of the company
  • Employees
  • Highs and lows depending on the period
  • average true range
  • Dividends
  • Indicators
  • And many more criteria

Screener types:

StocksForexCrypto
AvailableAvailableAvailable

Which broker can be used in connection with Tradingview.com?

Tradingview.com supports some brokers, but not the most popular Forex or CFD brokers in the European region. Possible integration of your favorite broker is not possible, because Tradingview decides itself which brokers should be supported. If the broker is supported by Tradingview you can trade directly from the software.

Tradingview supports the following brokers:

  • TradeStation
  • Oanda
  • forex.com
  • FXCM
  • Alpaca
  • Gemini
  • AMP
  • CQG FCMs
  • iBroker
  • Saxo
  • Tradovate
  • Alor

Free demo account

Surprisingly, Tradingview.com also offers an integrated demo account for every trader. This virtual trading account is built directly into your account. You can open virtual positions using the Sell and Buy buttons.

The account is filled with virtual $100,000 and can be recharged at any time.

FeesTrading amount:Rechargable:
Free of charge$100,000Yes

Forex and CFD brokers use Tradingview for charting

From my experience, Tradingview is already integrated with many Forex and CFD brokers. This means the charting platform is available directly from the broker. Often you can find the hint “Charts by Tradingview”. The software is becoming more and more popular and this could mean that Tradingview will soon be offered by many major brokers.

My broker recommendations:

Tradingview already offers some brokers for trading, but they do not have the best conditions from my tests and experiences. I personally use Tradingview for my long-term analysis and execute trades with my Forex broker.

The following providers are fully regulated and can provide you with the best conditions. GBE Brokers is particularly cheap in comparison and has very low spreads and commissions. Switching to this provider can save you many fees. BDSwiss is another top broker, which even offers high leverage of up to 1:500. In addition to GBE Brokers and BDSwiss, IQ Option can also shine with a variety of tradable markets and a good trading platform.

Is there a support at Tradingview.com?

Free support is available via the “Help Center”. There, the most frequently asked questions are answered in various categories. There you will find information on every topic of the platform.

Support available:24/7
Telephone:Not free of charge
Address:Not for free
Languages:20+ languages

Personal and active customer support is only available in the paid versions. Premium Accounts get the fastest support by email, phone, or chat. According to my tests, the support in the free version is completely sufficient, because the “Help Center” is quite diverse and filled with detailed information.

Conclusion: Tradingview is one of the best charting software

According to my tests and experiences, Tradingview.com is a recommendable analysis platform and offers only advantages for the private trader. The software will raise your analysis to a new level.

I especially like the user-friendliness and the handling of the chart. You can easily move, zoom, and arrange the chart. Furthermore, Tradingview.com benefits from a lot of tools. Indicators and drawing tools are abundantly available for technical analysis. Each tool is customizable to your trading style.

Trading with this software will help you to make a correct analysis of the chart. Or you can simply use the platform to monitor the latest price movements and prices. Tradingview offers so many advantages, so here is a clear recommendation from me.


Most asked questions:

Is TradingView a broker?

No. You can use the software for practice purposes that include simulated trading as well as the benefit of exchanging papers. To place a real order, you need to open an account with the associated online broker.

How much does a basic account on TradingView cost?

The most basic option to use TradingView is free of charge. If you want to gain further access to additional functions, there are several possibilities to chose from.

Is TradingView good for daytrading?

It depends on what functions are needed. Generally speaking though, a versatile day trader might prefer a paid plan over a free subscription to day trade well with the software.

Where does TradingView obtain its Data?

TradingView gains its Data from a professional commercial feed that has direct access to a variety of indices, futures, stocks, Bitcoin, Forex and CFDs.

One Response

  1. Andre Witzel September 13, 2020

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