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How to use TradingView effectively for traders

TradingView is an online trading and technical analysis platform for traders. In addition, the TradingView app is also a large community of investors. A place where we can share, exchange, and learn from each other. In this article, Learn Forex Trading will introduce you to the things you should know to effectively use How to use Tradingview. As well as detailed instructions on how to use TradingView with the most basic account types and tools.

Things you should know to learn How to use Tradingview effectively

To be able to use TradingView maximally and effectively, traders need to understand some basic information about this tool as follows.

What is the TradingView app?

TradingView started out as an online platform. Where professional traders regularly trade foreign exchange or CFD products choose to use. TradingView was born in 2011, with the goal of creating a place to exchange and learn for foreign exchange financial investors.

Here, users can share and discuss product trends. At the same time, express your views, opinions, and comments on each other’s articles. Therefore, this is like a normal social network.

In addition, TradingView is also a support tool for traders in market analysis. Traders can use it alone or in combination with MT4 to make more accurate investment decisions. The platform supports many different chart analysis tools. These include Supply Demand, Elliott, and Harmonics…, The tools are all beautifully designed and easy to use.

See more: Interesting about Tradingview may not know

Who should use the TradingView chart

TradingView is a useful tool for anyone interested in the financial markets. Whether you are a professional trader an amateur, or a long-term or short-term investor. The TradingView app helps you grasp market trends, dynamics, and opportunities. Therefore, traders need to know How to use Tradingview to make effective trading decisions.

The TradingView app allows you to view and analyze charts of thousands of different assets. Traders can use many different types of charts. From candlesticks, bars, lines, area charts, etc. You can also customize parameters such as time frame, color, line style, resolution, and width of the chart.

How to use Tradingview
How to use Tradingview

TradingView is more than just a technical analysis and trading platform. This is also an educational and mutual learning platform for traders. Here are some reasons why traders should know How to use Tradingview :

  • TradingView provides you with a huge amount of data. Includes charts, indicators, news, forecasts, trading ideas, analysis, and reports from experts and the community.
  • TradingView allows you to trade directly on the platform. Traders can trade different types of assets. Including stocks, cryptocurrencies, forex, precious metals, and energies.
  • TradingView is a large and vibrant community of traders and investors. This is where you can share, exchange, and learn from each other. You can monitor, evaluate, and respond to other members’ trading ideas, analyses, and reports.
    How to use TradingView
    How to use TradingView

How to use Tradingview with account types

TradingView has many different account types. Quite suitable for the basLearn Forex Trading needs of traders. You can choose from free TradingView accounts or paid TradingView accounts.

TradingView account is free

TradingView free account is a free account type. Allows traders access to the most basic features. Includes viewing and analyzing charts, monitoring and receiving notifications, joining the community, and trading live. However, the free TradingView account has some limitations, such as:

  • A maximum of 1 chart can be opened per tab.
  • A maximum of 3 indicators can only be used per chart.
  • A maximum of 1 chart layout can be saved.
  • Traders cannot access advanced features.

Paid TradingView app account

A paid TradingView account is an account type that gives you access to all TradingView features. With different prices and service packages. You can choose from 3 types of paid accounts: Essential, Plus, and Premium.

Supported account types
Supported account types

Instructions on How to use the Tradingview app for traders

To use TradingView in a basic way for beginners. Traders can refer to some detailed instructions below on the interface and basic tools.

Introducing the interface of the TradingView app

When you open the TradingView app, you will see its main interface, which includes the following sections.

Search toolbar: allows you to search for resources in TradingView. From forex, stocks, commodities, and indices to cryptocurrencies. Additionally, you can also search for trading ideas, indicators, and traders you want to follow.

In the Menu bar, TradingView categorizes topics by-product for traders to easily update and track such as:

  • Products: Supercharts, Screeners, Economic Calendar,…
  • Community: Overview, Livestream, Trade Ideas,…
  • Markets: Country, Assets (Stocks, Forex, Crypto, …), …
  • News: There is information about the economic calendar, and financial news from many different sources that TradingView links,…
  • More: Where traders can TradingView download to their device. Contains information for users such as the Show section. Information about the TradingView website. Blog & News categories. Solutions for websites and brokers are provided by TradingView.
    TradingView's interface
    TradingView’s interface

See more: Instructions for registering an XTB account

Instructions for using TradingView with the most basic tools

To use TradingView with the most basic tools. Traders can refer to how to use tradingview for beginners for some of the following basic tools:

  • Select chart type: Located in the upper left of the chart. Allows you to choose the type of chart you want to view, from candlestick, bar, line, area, etc. You can click this button to open a list of chart types and choose the chart type you like.
  • Timeframe: Located at the top left of the chart. Allows you to choose the time frame you want to view, from 1 minute, 5 minutes, 15 minutes, to 1 hour, 4 hours, 1 day,…
  • Indicator: Located at the top right of the chart. Allows traders to choose and apply the technical indicators they want to use. From popular indicators such as Moving Average, RSI, and MACD, to other advanced indicators.
  • Drawing tools: Use basic drawing tools such as trend lines, straight lines, and curves. Up to advanced tools like Fibonacci, Gann, Pitchfork,…
  • In addition, there are some other common tools. These include color, width, resolution, layout, other options, etc. for the chart.
    Tools on TradingView
    Tools on TradingView

How to use Tradingview with chart portfolio area structure

TradingView has a clear and scientific design. For sections and bars, there is specific information as follows:

  • Part 1: The Top Toolbar area allows you to change the trading time frame, type of technical indicator, and type of chart (column, candlestick, line…).
  • Part 2: The Left Toolbar area contains tools for you to apply to the price chart, such as editing, drawing support, resistance lines, price channels,…
  • Part 3: The Main Chart area displays the price chart, where you can observe prices, indicators, and used tools.
  • Part 4: The Right Toolbar area displays the names of market types (stock codes, cryptocurrencies, Forex pairs,…), economic information calendar, news, and discussion groups for traders.
  • Part 5: The Bottom Toolbar area is used to take notes and provide market testing functions. This is an advanced tool for you to check the stability and backtest your trading method on TradingView. This place also allows you to connect your exchange account to TradingView, if your exchange has this feature.

So the article on Learn Forex Trading has guided you on How to use Tradingview. This is a technical analysis platform and a large community of traders and investors. Hopefully, this article has helped you get a basic overview of How to use Tradingview most effectively.

FAQs

What is the TradingView app?

TradingView is an online tool that supports traders in market analysis. This is a tool to help traders make more accurate investment decisions.

What account types does TradingView support?

TradingView has many different account types. Includes free TradingView account and paid accounts Essential, Plus, and Premium.

Which investors is TradingView suitable for?

TradingView is a useful tool for anyone interested in the financial markets. Whether you are a novice trader or a professional.

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