I remember being introduced to TradingView by none other than our head trader George back in 2012.
I was using MetaTrader 4 to perform my technical analysis back in those days. The first time I logged onto TradingView, it was like a whole new world opened up in front of me!
Analyzing charts took a fraction of the time and I had a whole bunch of new, powerful tools at my fingertips.
Fast forward to 2019 and TradingView has made a name for itself as one of the best charting platforms in the industry!
They are in constant development mode and push out frequent updates. They also do a great job of listening to their customers and implementing feedback!
So in this post, we will take a look at some of the key tools & features that make TradingView such a go-to platform for active traders in 2019.
TradingView was founded by the creators of MultiCharts and is a cloud-based charting platform and trading social network.
Their mission is to make TradingView the only place you need for anything related to the financial markets.
They aim to provide the functionality of a premium desktop app with the speed and portability of a web-based platform.
This means that you can literally access your charts anywhere that you can find a stable internet connection!
So whether you’re on a desktop, laptop or smartphone. At home or on the road. You can always log-in to stay on top of the markets! This type of flexibility of access is what makes TradingView so popular these days.
Having used it for the last several years we can comfortably say that it is one of the most comprehensive, user-friendly charting platforms on the market! We’re definitely big fans!
Before we take a look at some of the key features of TradingView, let’s take a look at the pricing plans to see which one may be right for you.
TradingView Pricing Plans
Before we jump into the different subscription plans, let’s make one thing crystal clear:
Trading is a business and you have to pay to play!
In order to effectively track and trade the markets, you will need a good charting platform with direct access to a data feed for all major financial assets. This is simply the cost of doing business!
You can only get so far using free software in this game. This holds especially true the more active that you plan on being in the markets.
At the same time, if you have a small account, you don’t want to break the bank and hinder your profitability on a platform with excessive monthly fees.
One of the things that we love about TradingView is that it offers an affordable alternative to more expensive charting platforms like NinjaTrader or eSignal.
These platforms can cost you upwards of $100/month, whereas TradingView can get the job done just as well for as little as $14.95/month!
At the time of writing (May 2019), TradingView offers four different types of subscription plans.
As you might imagine, the Basic plan has some limitations when compared to the paid plans.
You will still get access to quality charts with over 100+ popular indicators and 50+ smart drawing tools. The caveat being that the data is not the fastest and some of the data will be emitted from the charts.
With that being said, the FREE membership is perfect for the beginner trader looking to hone their technical analysis skills and test their strategies in a simulated environment. Investors and position traders will also find value here as most of the delayed data will work if you’re only checking up on the market close at the end of the day.
Once you are ready to go live and get serious, you can look to upgrade to the Pro plan, which is only $14.95/month.
For the price of 3 lattes a month you will have access to a majority of the charting features and the fastest data flow with twice as much data on the charts.
You will now get access to one of our important tools: the market profile indicator (check out this market profile trading strategy here) and be able to view up to 2 charts per layout.
In addition to that, you can now make your own custom watchlists so you can track your favorite sectors and assets for opportunities. This upgrade also unlocks the screener tool, which is great for filtering out your favorite tickers.
The Pro plan is a great starting point if you swing trade stocks, ETF’s, forex and commodities! You will have access to all the tools required to start swing trade passively. To learn how to get started, check out our swing trader package.
Pro + Plan
If you plan on being more involved than a swing trader and trading the intraday timeframes then this membership is the one for you!
For $29.95/month, you will get all the features of the Pro plan plus you will be able to log in to your account from 2 devices simultaneously and you’ll be able to view 4 charts per layout.
This feature alone is absolutely crucial for multi-timeframe analysis and getting a good read on the markets we trade.
As the name implies, this plan is the creme de la creme of the memberships coming in at $60/month.
On this plan, you will have access to all of the features on TradingView.
This includes over 200 alerts, 8 charts per layout and up to 5 devices at the same time.
Not very many traders will require the additional features that this plan offers as the Pro + is the best value for your dollar.
That is just a brief overview of the different plans offered by TradingView. You can access this page here for more details on the different plans TradingView offers.
TradingView Tools and Features
Best TradingView offers some awesome services including a comprehensive stock screener, simulated and live trading, as well as bar replay and even a smartphone app to track the markets on the go!
Filter through thousands of stocks, currencies or crypto with over 100+ custom fields including descriptive, fundamental and technical. Find that needle in the haystack!
The ability to trade off of the charts is a huge bonus for us technical traders!
The fact that you can trade live through one of the supported brokers or in a simulated environment adds to the value of TradingView as a platform.
Testing strategies across any asset class in a real-time environment using virtual money offers traders a chance to hone their trading process and trade execution/management before going live.
Further to that point, another feature that we love is the bar replay! This handy little feature lets you go back in time and play the price action bar by bar on a single timeframe of choice. Whether it’s a daily or a 60-minute chart, this opens up a whole new world of backtesting opportunity all within a single platform!
Finally, the smartphone app is available on for both iPhones and Androids.
The app is actually pretty intuitive and has come a long way since the original edition! We never recommend trading solely from your phone, but this is a great way to keep track of any open trades and potential setups that might be forming.
Since we’re such huge fans of TradingView, we’ve been building up a playlist of tutorial videos on our YouTube channel.
To check out the tutorial page where these videos are located click here !
Here is the first video of the tutorial series for your viewing pleasure:
TradingView Final Thoughts
It’s no secret by now that we’re huge fans of TradingView.
They provide you a cheaper alternative that has all the tools and features that you need to find success in trading the markets. The social media aspect of it gives you good insight into how other market participants view the markets at any given point in time. This is what has made TradingView the collaborative community that it is today.
The platform is user-friendly and intuitive. Customer support is awesome. Constant developments and updates are being released. Customer feedback is being implemented.
What more can you ask for? You’d be hard pressed to find better value for your dollar than with TradingView.
Best of all, we’re not affiliated with them in any way so this is an authentic review of the platform. Give it a try and let us know what you think!
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The information contained in this post is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. TRADEPRO Academy is not responsible for any liabilities arising as a result of your market involvement or individual trade activities.