TradingView Review 2019
TradingView has long been one of the best free tools on the Internet for traders in almost every market. TradingView has already been trusted by hundreds of thousands of traders around the world. Based on our TradingView review research and testing, TradingView gives you the ability to chart commodities, stocks, Forex, bonds, and more assets from markets all over the world.
With a highly intuitive interface, and the ability to make the charts look essentially however you want, we find ourselves looking at it on a daily basis. Beyond that, you also have the ability to trade through specific brokers, and even have the ability to paper trade without signing up for a broker.
This is the best of both worlds, the ability to access information without paying for it, or the ability to go deep into the information if you are willing to pay for it.
What is TradingView
To say that TradingView is simply a free charting platform with extra bells and whistles that you pay for is giving the platform a major disservice in its description.
Quite frankly, it‘s one of the best tools on the Internet for no matter what you are looking to do, be it trade currencies, trade cryptocurrencies, trade stocks, commodities, bonds, no matter where you are in the world.
That‘s one of the biggest selling points here: as long as you have an Internet connection, you have a trading platform that you can use for your technical analysis, and if you sign up with specific brokers you can also use it for transacting orders in the markets.
You also have the ability to read headlines for whatever estimate you are currently looking at, and also have the ability to measure charts against each other, for example you can compare gold versus the S&P 500, or any other combination that you can think of.
You can change the look of the platform in a multitude of ways, and even have the ability to have live pricing on the side panel for whatever market you‘re involved with.
Think of the website as a trading tool, as you can do a lot of paper trading as well. This can keep track of your strategy results, without risking any money.
The intuitive features and the seemingly endless ways in which you can design a chart and system on this platform has traders around the world flocking to the site.
Another major feature of TradingView is that you can watch somebody different markets at the same time that you can start to watch global correlations, something that is so important in this market these days as there is no such thing as a solitary market.
They are all moving in lockstep with each other, as high-frequency trading has taken over. In other words, you simply cannot trade the Australian dollar without knowing what‘s going on in the gold market.
Bonds will move the US dollar, stock markets can be moved upon bond markets, and so on. With the ability to watch all of these different marketplaces, you have the ability to profit if you understand the correlations and the technical analysis needed.
Without a doubt, the major feature TradingView is the charting package itself. With the ability to change the colors, the type of chart whether it be bars, candlesticks, line, histogram, mountain, area, or the whole host of others, you have the ability to see the markets how you choose to.
You can change the colors and add almost any indicator that you can think of, and in any combination.
Without a doubt, the charting package is probably one of the best on the Internet and are available for free if you choose to use the basic functionality.
In order to place trades through a brokerage firm though, you will of course need to have a brokerage that is compatible with the platform. There is an exhaustive list of brokers out there that do this, and that list is growing every day.
Below is an example of the ZB futures contract using default parameters in TradingView:
TradingView real time
TradingView does offer both real time and delayed quotes, depending on the market. For cryptocurrencies, the free account will offer you free quotes, but for example the futures markets won‘t be live quotes, as this requires a Pro account.
This makes sense though, because the CME, CBOT, and the like all charge for data is so this is obviously fair. However, if you are looking for end of day data, the professional platform isn‘t necessary.
If you are simply looking to do longer-term investment analysis, the end of day charting will work quite well for stock picks, etc. However, if you are looking to place intraday trade you will find that this type of account will be lacking.
One of the most interesting aspects of TradingView is the ability to paper trading account without having a brokerage attached to the platform.
This gives you the ability to try out strategies quite easily, and in a host of markets that you may not necessarily have experience in.
This is probably one of the best educational tools online, because it is risk-free, and with the bar replay if you have a paid subscription, you can really test out your strategies whenever you need, building experience in a very short amount of time.
This gives us the opportunity to become professional without the huge cost involved in opening up an account and losing thousands of dollars.
TradingView also offers chat opportunities, allowing people to post trade ideas on the website, perhaps ideas to place a trade, or just subtle observations of support and resistance.
There are people out there that are followed by hundreds of other traders, they give their opinions on the markets, sometimes even offering trade advice, although you should use a certain amount of discretion when following people, because at the end of the day it is still your trading account that you are risking.
Nonetheless, it can give you an idea of how other traders look at the market, and perhaps give you some insight into what‘s going on, especially if you are a newer trader.
There are a handful of really good traders out there that offer advice like day trading courses, or education via trading chat rooms, but you will have to dig through both good and bad posts to get there.
There are also a long list of rules that you must follow as far as conduct, as is typical with these things.
TradingView offers a robust stock screener that allows you to look at performance, extended hours, valuation, dividends, margins, income statement, balance sheet, and oscillators.
You have the ability to look at multiple countries around the world, as it will show a huge amount of filters available to pick out the stocks that you‘re looking for. If you have a system for finding stocks, this is an excellent tool to use.
However, if you do not have a system for finding stocks, this is an even more important aspect: because it can teach you various ways to find stocks and you can add that to your trading repertoire.
It even breaks down the sectors, so that you can initially look for the correct sector that you want to invest in, say technology, and then look for the best in that particular sector.
This allows you to pinpoint opportunities out there in the complex world of financial instruments. This works across all countries that the platform covers.
With that, and the ability to customize filters with a professional subscription, you have the ability to find plenty of opportunities that meet a long list of demands before putting money to work.
While offering news, it should be pointed out that it is based upon Yahoo finance, which is a bit slow at times. However, this will give you a 30,000 foot view of what‘s going on in the world and what is prevalent to the security that you are trading.
However, news trading is something that machines do these days, with analysis being almost impossible on the fly the same way that an analytical trading program can do.
Nonetheless, this does give you the opportunity to cease of the fundamental driving factors in whatever market you are trading.
Quite frankly, if you are looking to trade based upon news you will need something along the lines of a Bloomberg terminal, which starts at about $400 a month.
With that being the case, the news that appears on websites should be taken with a grain of salt, this place of course included.
Range of Markets
The range of markets available at TradingView is truly astonishing. There‘s over 50 exchanges, and you can find such diverse financial instruments as Bitcoin, foreign currencies, stocks in New York City, Frankfurt, London, Hong Kong, and even as far away places as Reykjavík Iceland.
Beyond that, you can even see bond markets in places like South Africa.
With that being the case, it‘s obvious that you would be hard-pressed to find charting package is with more options than you have here.
Plans | Costs | Pricing
TradingView of course has several different TradingView plans and pricing opportunities. There is the free light version, which is good enough for people looking to make longer-term investments.
This offers enough functionality to see which direction the market is going, and of course the overall trend as well as signify where support and resistance is, highs and lows, and much more.
For many of you out there, this could be an alternative to the charting package that some brokerage firms offer, as they are very rudimentary to say the least.
For those using the free platform, this is almost like a halfway point between poor brokerage charts, and a professional platform.
TradingView Pro is available at $14.95 a month, or $9.95 per month if you bill every two years. It has essential features for traders and investors, as it gives you the ability to trade certain markets in real time.
Using the Pro version gives you the ability to have a couple of charts per specific layout, server-side alerts, five indicators per chart, and five saved chart layouts.
You can replay the market bar by bar in one of the most useful features.
TradingView Pro Plus is available for $29.95 per month, or $19.95 per month billed every two years. This simply allows you to have more indicators, with as much as 10 per chart.
You can also then use two devices at the same time to trade and monitor the markets, giving you a bit more flexibility. Upgraded extra kinds of charting are available as well as bar replays on any timeframe.
TradingView Premium allows you to trade up to 5 devices at the same time, a ton more server-side alerts, up to 25 indicators per chart, of the 24 indicator on indicators, unlimited saved chart layouts, priority support, play-by-play on any timeframe, and much more.
Free Trial | Promo Code
TradingView offers a free trial of any of the paid subscriptions for 30 days. This gives you plenty of time to get involved in the markets, to try out all of the bells and whistles, and decide for yourself.
However, I would point out that the free trial speaks for itself in a lot of ways, as 30 days as much longer than many brokerage firms offer their platforms for.
This shows just how much they believe in the platform, and that they have a lot of success getting people to sign up. 30 days will certainly be plenty of time to figure out whether or not it will work for you, but quite frankly it’s hard to imagine that they won’t.
This is especially true considering that some other charts and charting packages can run several hundred dollars per month.
If you are looking to trade for a living, or at least in it for the long run, we suggest taking advantage of the two-year subscription plan, but it should be pointed out that there is a slight discount for those willing to pay for only one year in advance.
However, you need to look on the site pretty deeply find that opportunity.
In fact, as a professional trader this stock screener is even more robust than major platforms such as Interactive Brokers TWS, which is extraordinarily professional and has a multitude of routing options and markets as well.
The fact that we see this available on the website and for so cheap makes TradingView very attractive for this reason alone.
Who Is TradingView Best For?
When asking the question who TradingView is best for, the answer would be quite a few different types of traders/investors.
For example, if you are simply trying to find out what one of your major holdings are doing, then the free platform is more than enough to give you an idea as to the performance.
It can also give you an opportunity to find areas to pick up value, or perhaps tell you when it’s time to liquidate your investments.
For those looking to trade intraday, TradingView is also an excellent choice, assuming that your broker marries up with it.
The charting platform is one of the more clear and concise platforms on the Internet, and of course the fact that it is based upon HTML 5 technology, you can access it anywhere.
It is because of this that those who choose not to sit in one spot for any length of time find it very useful. Short-term scalping is possible due to the fact of the speed that is offered and shown.
However, if your brokerage offers free charts that are robust, and some do - there probably isn’t going to be as much of a demand.
It really comes down to whether you are a short term trader or not. TradingView certainly favors the short term trader as you can add things such as volume profile which of course is very important for those looking to scalp the markets during the day.
Futures traders seem to be particularly attracted to this platform as well, as it is offered at so many of the brokerage firms.
TradingView does have a few competitors, although you’re going to be hard-pressed to find the functionality that they offer here when looking for classical charting.
A couple of the larger competitors would be bigcharts.com, and stockcharts.com, but both of those competitors offer nowhere near the functionality that we see here at TradingView.
Beyond that, the fact that you can have a free account for the most basic of functions, you will probably find that although there are alternatives, there’s no real competition.
TradingView competes heavily and quite significantly against standalone platforms, so you will find that other web-based platforms are light years behind. For example, take a look at the attached chart for Apple at stockcharts.com, as it is no match:
It should be noted that barchart.com is also a major competitor, but it does not have the ability to trade as many markets through your brokerage.
However, they offer a bridge through CQG to trade futures, which a lot of brokerage firms use as well.
They do not have as much in the way of markets though, but they do have multi-monitor support which is nice. That being said, even though they have nice charting, the wealth of choices at TradingView clearly makes it superior.
However, trading the traditional way putting efforts in scanning for trading opportunities is the old fashioned way. If you are serious about trading with the help of A.I., then Trade Ideas is a good alternative to TradingView. Read the Trade Ideas Review to find out why Trade Ideas is better than TradingView.
TradingView Review Summary
Free Resources | Free Trial
Ease of Use
TradingView is by far the best low cost stock screener on the web. There isn‘t much in the way of competition when it comes to functionality.
If you are looking for a mobile platform, one that you can access anywhere there is an Internet connection, this is probably going to be your new home. So, if you would like to giveit a try, just go on and check it out: https://www.tradingview.com/
Enter your teaOne of the biggest considerations that you have to keep in mind is what type of execution you need, what type of market you need, but most importantly whether the cost will be justifiable for your trading.xt here...
For example, if you make two or three investments a month, and tend to hold onto those stocks for six months or more, there‘s absolutely no reason to pay for live feeds, and quite frankly just about any type of static charting will work.
Having said that, there is the free account that you can have that serves the same function.
The fact that you can trade a huge amount of markets around the world also is a major plus for TradingView, and one of the things that makes it so unique.
One of the big disadvantages to their competitors is that they tend to be US centric, and therefore you will find stocks and other countries almost nonexistent, with perhaps the London and the Toronto exchanges being most likely to show up.
Another major advantage is the fact that the platform offers so many different types of financial instruments. Some brokers charge varying data fees that can really start to add up.
Because of this, you may find that the cost of doing business here is cheaper than at your own brokerage firm. With that in mind, this is one of the most essential tools that we have found online.
It‘s a rare trader the will be able to benefit from these tools, and of course the charting packages. Ultimately, the website is popular for a wealth of reasons, most of which can be clearly seen on the chart.
However, before you jump in right away, make sure to check out the eSignal review and NinjaTrader review. Both are the main competitors when it comes to charting, while Trade Ideas is very well known for its Artificial Intelligence based trading strategy evaluation and automated trading.
Overall, the market is full of other possibilities and choices, but quite frankly there is a reason why so many brokerage firms are starting to add TradingView to a list of the charting package is.
Because brokerage firms don‘t want to spend the money to reinvent the wheel or perhaps try to do better than what is working so well for so many of you.