Charting software can make or break your trading journey, and most beginners are not even aware of that. As far as software goes, TradingView has been a leader in the market for quite some time mainly because of its comprehensive and easy-to-understand nature. It allows you to trade exactly the way you want, irrespective of whether you are a beginner or an expert in the field. In this guide, we will go over some aspects of the TradingView app that you must know as it will help you get started and also make the most out of it.
TradingView Offers Multi-Timeframe Settings
This is a very special feature of TradingView that comes in handy during technical analysis and developing a trading strategy. Let us say you have chosen a certain company’s shares to trade on a particular day, but before you do that, you need to know how those shares perform during certain time frames. According to regular practice, this can be anywhere between 1 day to even fifteen minutes. So, you will have to keep looking at the charts constantly at such time intervals. This will give you an anchor to work upon and build a perspective. But doing this manually is cumbersome, which is why TradingView offers 1-day charts, 30-minute charts, and 15-minute charts, and you can look at them all at the same time.
There is an Undo-Redo Option
Yes, you heard it right! There are not many trading software packages out there that offer this option to users. This is a fun feature but extremely useful at the same time. Let’s say you have placed the trendlines where you didn’t want them, and now the charts are all messed up and don’t make any sense – don’t worry because you can simply undo them. But keep in mind that you can undo only your most recent action with this function and not the previous ones.
It Has a Go-to Date Feature
This one is a really cool feature. I’m sure many of you had come across situations in your life when you wondered how the price of a stock behaved on a certain date in a specific time frame. Right? Well, figuring this out is no longer a hassle because TradingView has brought to you a special feature meant specially for this purpose. In fact, even on an intraday basis, it can take you to the exact candle you have in mind.
This App Has HD Images
Last but not least, TradingView offers its users HD images. Many a time, it so happens that you have created a meaningful trading chart, and you have put a lot of effort into it. Suppose you want to trade a specific chart pattern, and now that you have developed a strategy for it, you either want to share it with a friend or maybe tweet about it, but due to the lack of a good-quality picture, you can’t. But from now on, that won’t be an issue at all because, on this platform, you get high-quality images of the chart.
In this article, we spoke about four very interesting features of TradingView that set it apart from the others in the market. Creating an account on this platform is a pretty straightforward process. If you visit their website, you will get the link. From there, you just have to follow the instructions that pop up on your screen, and you are pretty much done. You will have created a free account on TradingView.
On this free account, the features that you can access will include the charts, one saved chart layout, three indicators per chart, one enhanced watchlist, one indicator template, and one indicator on the indicator.