Let's get it started and review one of the best free stock screener. TradingView has a vast client base because of its free features.
Traders and investors like this tool a lot, and some even subscribe to the pro version.
But is TradingView worth it? We think it is, and we tell you all about the functionalities and costs in this TradingView review.
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TradingView comes with many free features, and they can be used without any registration.
A subscription to the paid version makes sense once you feel the need for more functionalities like multiple charts, layouts, and custom time intervals.
Indicators and Charts
You can open one chart at a time per tab in the free version, while TradingView Premium supports up to 8 charts per tab.
Those who at least register for the free version, can save their charts per layout and choose between twelve different chart types.
In TradingView, saved chart layouts can be opened with just a few mouse clicks.
Pro-subscribers can export the chart data, set custom time intervals, and create spread based custom intraday charts.
More than 50 smart drawing tools are available to all plans. Thes include lines and trends, geometric shapes, patterns, and annotations.
Those drawing tools are the bread and butter of technical analysis. The markets can go up and down.
No matter what the direction is, TradingView helps you to understand the technical aspects of the markets even better.
Do you want to set price alerts at specific levels on your favorite stocks? With TradingView, you can do this with just a few mouse clicks.
Even the free version allows you to use server-side alerts. And the more you pay for your subscription; the more alerts can be set.
A nice feature is that those alerts can be set on a specific price, or even indicators or drawings. In total, you choose between 12 different alert conditions.
You get notified per SMS, Push to phone, via various webhooks, or email.
Believe it or not, but even the paper trading module can be used with all plans. Simulated trading is an exciting feature, and traders can test new strategies without any risk attached.
You can also create watch lists and trade without TradingView during the extended trading hours.
TradingView supports extended trading hours, customized scanning depending on your trading strategies, and a great community. Their stock screener empowers you to scan the market based on your scanning criteria.
The interesting thing is that some of the features within the most important TradingView subscription called Premium, are features regarding the social media community.
Users can use the app everywhere, and everyone who subscribes to Premium gets access to signature and website fields as well as to invite-only trading indicators.
Pro+ Subscribers and Premium subscribers gain access to custom community chats. Trading education is not part of their services. Consider using one of the best day trading courses to learn more about day trading.
The technical indicators allow users to plan their investment and trading strategies carefully.
However, some technical indicators are missing, and traders may need more expensive tools if you need access to them.
An exciting feature for users is the volume profile indicators. Those can be used with every paid plan.
The number of indicators per chart allowed depending on your subscription. From 3 to 25 indicators per chart, everything is possible.
There is a TradingView functionality within the app where users can screen the current Forex Markets.
The respective option within the TradingView navigations has the name "Currencies" and can be found under the "Markets" tab.
Popular Forex markets as EUR/USD, and USD/JPY are offered to traders and investors. And also, minor and exotic currency pairs are available.
Now let's proceed by taking a closer look at the paid versions.
The pricing is easy to understand. While TradingView Basic costs $.00, the Pro-Versions cost between $14.95 and $29.95 per month.
Traders who want to screen even more markets can use TradingView Premium for $59.95 per month.
The yearly subscription comes with a -16% discount. The best way to start, of course, is the free version.
Once you are convinced that TradingView is right for you, the monthly subscription fits the best.
This way, you are entirely flexible once you need even more features that come with the higher-priced plans.
TradingView offers different pricing models. In this sector of the review, you will find detailed pricing for the monthly subscriptions and the yearly subscriptions.
We did not make the best experiences with TradingView customer support. Sometimes it takes a bit longer until a question is answered.
If you have any technical questions, ask yourself questions regarding the indicators per chart, the saved chart layouts, or the charts per layout.
You should consider having a look at the online tutorials first.
Their community is active, and the chances are that people can help you solve your problems too.
TradingView Review Summary
Is it worth the investment and to subscribe to the TradingView app?
We think that TradingView is one of the best low-cost charting platforms on the web and worth the investment.
There isn't much in the way of competition when it comes to free and basic charting functionality.
However, the stock screening capabilities are limited compared to the market leader Trade Ideas.
For that reason, you have to define what is most important to you.
If it is charting and technical analysis, then TradingView is the right choice.
If you are looking for a bit more artificial intelligence-based technology along with a backtesting module, then TrendSpider might be the better choice for you.
And if you want to take your trading to the next level, then Trade Ideas is the only option you have.
Their artificial intelligence-powered stock screener finds the trades with the best potential every day.
They also provide a free trading room and hold free webinars every week.
Frequently Asked Questions
Is TradingView Free?
You can choose between two different free Versions. If you visit their website www.tradingview.com, then you can open their charting tool for free.
If you do so, the functionalities are limited.
To unlock more power behind the free TradingView version, register here for a free account.
Is TradingView Trustworthy?
TradingView is trustworthy, and more and more tools and brokerage firms implement their charting engine within their products. That's possible by using TradingView's white-label and API.
Is TradingView in Real-Time?
This is actually a pretty good and important question. TradingView's data is delayed when using the free version. The data refreshes once per second if you are not a subscriber.
Once you subscribed to the Pro, Pro+, or Premium version, your data will update in real-time.
This is true for worldwide indexes, 30+ cryptocurrency exchanges, currencies, and all major stock exchanges.
It is essential to understand that the free real-time data at any subscriptions are only based on prices from one location, the Cboe BZX, which includes some pricing form ARCA, NYSE, and NASDAQ.
If you need tick-data directly from major exchanges like NYSE, ARCA, or NASDAQ, then you have to pay for it. This will be important if you are a day trader.
It is not that expensive to get access to tick-data for those three exchanges since it costs $2 per month each. But if you want to subscribe to worldwide exchanges, then the pricing adds up fast.
What Exchanges Are Available in Real-Time?
As a paying customer, you can subscribe to real-time data of over 50 exchanges around the world.
Stock market data is affordable, with about $2-$5 per month per exchange. Futures Data from CME or CBOT costs $110 per month and per exchange.
Can You Trade on TradingView?
Online Brokers can integrate their brokerage into TradingView's trading platform. That's being done with their API.
That means that you can only trade on TradingView if your online broker uses TradingView technology.
What Are the Best Alternatives to TradingView?
For charting, TrendSpider and NinjaTrader are the best alternatives. When it comes to market screening and trade automation, then Trade Ideas is the best alternative.
About the Author
Alexander is an investor, trader, and founder of daytradingz.com. After devoting many years to educating himself on powerful day trading techniques and effective investment styles, he started trading and investing more actively. In the past 20 years, he has executed thousands of trades. In 2015, he began writing articles about trading, investing, and personal finance. He is very passionate about sharing his knowledge and strives for success in himself and others. Alexander has been featured on Benzinga, Rockstar Finance, and ESI Money.