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In this Tradingview review, you’ll see if the popular chart analyzing tool is worth upgrading to pro!
After upgrading my plan, I decided to explore what TradingView has to offer and if it would help me make more profits trading FOREX.
After 2 years of using TradingView, I’ve uncovered hidden secrets of using the app to make 500+ pips per week.
How was this possible?
Let’s dive into the must-know Tradingview pros and cons!
Tradingview Review
Table of Contents
1. Full Customization
First, the customization control TradingView gives you over your chart is worth the investment alone!
When I started trading FOREX, poor usability on my broker’s platform made it hard to do a technical analysis of the chart.
With TradingView pro, you can…
– Change chart and candlestick colors
– Easily add and remove indicators
– Add shapes and other drawings
– Switch between candlesticks and line graphs
Having full control over your chart will make analyzing currency pairs(and everything else) smooth and less intimidating.
Imagine being able to sit in front of a chart, easily see which direction the market is going, and place a profitable trade. Also, being able to change the color of your chart can influence your emotions when trading!
Of course, nobody can have 100% accuracy with every trade, but the most profitable traders have full control over how they view the market.
This is best experienced with a Tradingview pro license.
2. Timeframe Control
Aside from being able to customize the chart to your liking, you can also see how the market is moving from different time perspectives.
Can you imagine being able to see how buyers and sellers are interacting in the market every hour, minute, or even second of each day?
Free users are restricted from accessing minute-by-minute charts, limiting their ability to make quick decisions. Pro users, on the other hand, can access charts with intervals as low as one minute!
This allows for faster decision making and the ability to capitalize on short-term trading opportunities. Additionally, Pro users also get access to real-time data feeds, allowing for the most up-to-date market data.
Time frame control is essential to every trader’s plan because it shows price action in a clearer picture then just looking at how it’s moving on the 4hr or daily trend.
Unlike other apps, Tradingview lets you trade on the 1-30 second time frames. Giving you an action-packed inside look into whose winning the market at any given moment(bulls or bears?).
It’s best to use the weekly time view for long-term trend prediction and the smaller times for short-term trading.
3. Premium Indicators
Using indicators can make you more money trading, here’s a few that are best to use on Tradingview…
– Williams Alligator
– Relative Strength Index
– Daily High/Low
Tradingview gives you full access to indicators that help you analyze charts more efficiently!
The best part?
You can easily switch them on/off, freeing up space on your chart when things feel cluttered.
Pro users can benefit from advanced drawing tools, including pitchforks, Gann Fans, and Elliot Waves. These tools can help traders identify potential trend reversals and significant support and resistance levels.
There are also more in-depth customizations available, such as the ability to plot several layers and save complex chart layouts.
4. Broker Integration
One of the key features of Tradingview is that it allows you to place orders!
This is convenient if you don’t have a desktop computer to analyze trades with.
Here’s a list of brokers that are compatible with Tradingview…
1. OANDA
2. Forex.com
3. Interactive Brokers
4. TD Ameritrade
5. IG
6. Robinhood
7. Poloniex
8. Bitfinex
9. Binance
10. Coinbase Pro
5. Advanced Trading Tools
Have you ever wanted to draw on your chart but haven’t had the tools?
Tradingview let’s you add…
– Support & Resistance Lines
– Supply/Demand Zone Boxes
– Trendlines(they even have preset designs!)
And my favorite tool to use, the long and short term position ruler!
This revolutionary tool shows green and red parameters to make trading simple.
The green area is where you’re in profit, red is in loss. This is convenient for when you want to see your take profit, entry, and stop loss numbers clearly.
If you really want to make your trading routine easier, use the “Pip Counter” tool to know how many pips you can make/lose with each trade!
6. In-App Updates
Fundamental analysis bores many traders, and it’s no surprise why!
All of the needless jargon traders encounter when examining news reports makes understanding fundamentals hard.
Thankfully, Tradingview offers news within the app that’s easy to read!
Simply tap the “News” icon to see a list of current news events that affect your pair. There’s also a built in buy or sell meter to help you make trades.
7. Free Strategies
In the “idea” tab of Tradingview, you can explore new methods of technical analysis and get updates on trending topics.
From politics to global economics, the idea tab fills you in on must-know information in the world of trading!
The platform has a social network-like infrastructure where traders can follow, comment, and interact with each other. Pro users have exclusive access to insights from TradingView’s most successful traders and analysts.
These insights can offer invaluable trading ideas and insights into current market trends.
8. On-Hand Watchlist
With Tradingview, you can save all of your favorite pairs in one list!
Not only that, but you can also add commodities, exotics, and indices to your watchlist so they’re ready to analyze.
One of my favorite things about the watch list is the organizational features it has.
For example, you can mark pairs with color-coded tags.
This comes in handy when you expect news to affect a pair and you want to keep it a priority on your list.
9. Alerts & Notes
Have you ever anticipated a pair to go one way, only to miss your entry later in the day?
This is where using Tradingview’s alert tool comes in handy!
Select the “+” and tap the clock icon to setup an alert on your chart.
You can choose from an array of different notification sounds and even add a message to each alert.
Those were the best reasons to upgrade to Tradingview pro!
Without the Tradingview platform, I wouldn’t
Is It Worth It?
Upgrading to TradingView Pro is an excellent investment for traders looking to take their charting and analysis to the next level.
The platform’s vast array of tools and features, including more indicators, advanced charting tools, exclusive trading ideas, enhanced alerts, faster time intervals, real-time data, and better customer support, offer a complete trading experience that can give traders an edge in the financial markets.
If you’re serious about trading, we highly recommend upgrading to TradingView Pro today.