Trade Ideas and TradingView are geared toward serving the needs of very experienced traders who prefer to manage their investment portfolios personally. They also offer a wealth of trading education resources to help novice traders become very advanced and independent traders. That’s especially true for Trade Ideas.
In this article, we’ll examine these two trading resources in detail, comparing the features that each respectively offers, noting the particular strengths of each platform, and, of course, running down the pricing for you.
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Stock Screener Compared
These two companies offer many of the same services to traders but with different relative strengths in their services.
Both websites offer stock scanners and outstanding charting platforms with the ability to apply dozens of technical indicators, chart across multiple timeframes, set trading alerts, and bring up market news and data relevant to the security being charted with just a mouse click.
Overall, TradingView’s charts offer substantially more indicators and custom features – such as the ability to import custom indicators designed by members of TradingView’s extensive social network community.
Both the Trade Ideas platform and TradingView platform offer users a variety of news and education resources. TradingView provides free delayed data and charges an extra fee on top of the subscription for every stock exchange where real-time data is needed.
Trade Ideas Unique Features
Just to give you an idea of how high-end Trade Ideas’ features are, its stock scanner and other products were originally created to be marketed to hedge funds and portfolio managers. Although the company has since shifted its focus to primarily serving independent retail traders, many of its clients are still investment advisors or professional asset managers.
Backtest Trading Strategies
TI’s “Oddsmaker” is a proprietary backtesting program that can backtest the performance of technical indicator trading signals, a trading strategy, and even specific stock screens.
Trade Ideas’ top-line A.I. trader – “Holly” – gives traders specifically, statistically weighted market entry trading signals, along with proposed trade exit points based on various levels of risk.
An interesting TI charting feature is “Compare Count,” which shows the comparative performance of two different trading strategies in real-time.
The Ultimate Stock Screener
Trade Ideas’ stock scanner is simply second-to-none. In addition to enabling traders to customize stock screens for endless variables, the program comes pre-loaded with 40 stock scans. They are categorized as bullish, bearish, or neutral – including scans such as “Unusual Social Mentions” that shows stocks garnering the largest social media attention on websites such as Stocktwits.com, Reddit, and Twitter.
Other pre-configured scans to choose from are “Stocks under $20 that are moving up fast”, stocks “Down Big Yesterday, Up Big Today,” and stocks evidencing “Bullish Candlestick Patterns.”
TI also lets you keep dozens of stock screens running throughout the trading day, automatically refreshing every few seconds. TradingView offers a similar but slightly less robust scanner features.
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TradingView Unique Features
More Than Just a Stocks
While Trade Ideas strictly focuses on the stock market, TradingView also covers the commodity, forex, bond, and cryptocurrency markets. In addition to its stock screener and heat map, it also offers forex and cryptocurrency screeners and a crypto heat map.
TradingView’s stock screener is excellent, offering flexibility and various angles of analysis – it’s just not quite the equal of TI’s stock scanner.
One thing that TradingView has that TI doesn’t is a mobile app. However, Trade Ideas for Web can be used anywhere on any device by utilizing the browser of your operating system.
Both programs have a downloadable desktop program that offers the largest selection of features. The desktop installations are beneficial for day traders who need market data transmitted as fast as possible or if automated trading algorithms are used.
News
The look of TradingView’s home page instantly clues you in on the fact that its focus is on market news and charting rather than on specific trade recommendations. However, it does offer “Editors’ Picks” and articles on publicly traded companies that are essentially evaluations of the company’s stock. You could easily spend the day on TradingView’s website just reading news stories relevant to trading opportunities you’re considering.
Advanced Charting Platform
In the end, TradingView stands out, literally, for the views that it offers with its incomparable list of charting tools. No other charting platform provides all of the following:
- More than 100,000 technical indicators
- More than 50 drawing tools
- Recognition/Alerts of Candlestick Formations
- Its own programming language – PineScript – to easily create indicators with
TradingView vs Trade Ideas – Which One Is Really Better?
There are two winners in this comparison. Trade Ideas is the clear winner for day traders of U.S.-listed stocks who need fast data with many stock screening capabilities. Also, their AI trading feature is stunning and definitely something to closely monitor as it evolves.
TradingView on the other hand is perfect for all who want to have more market coverage (e.g. Europe and Asia) and more technical analysis based tools.
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