If you are a professional trader, you will probably be familiar with TradingView tool. However, for non-professionals, this name may be too strange. So what is TradingView? Readers learn with Taimienphi.vn offline!
Founded in 2011, Tradingview is still considered as one of the in-depth analysis tools for traders. So what is Tradingview? What are the pros and cons of it, please read along with Taimienphi.vn to answer those questions!
What is Tradingview? Advantages and disadvantages of Tradingview
Table of Contents:
1. What is Tradingview ?.
2. Advantages of Tradingview.
3. Disadvantages of Tradingview.
I. What is Tradingview?
Tradingview is an online portal that provides trade and market analysis charts. It is also a social networking site where merchants are gathered and people can share their views on trade. You can access Tradingview on multiple devices and from any country.
Currently, Tradingview is offering the following usage packages:
– Free: view one chart at a time with indicators.
– Pro ($ 9.95 / month): has a few extra special features
– Pro Plus: there are quite a few features that a trader may need
– Premium: includes a few additional features such as SMS notifications
Access Tradingview HERE.
II. Advantages of Tradingview
1. You can draw anything on the chart
Compared to Meta Trader 4, you only draw vertical and horizontal lines or a few basic patterns, TradingView is superior.
When you want to explain something to someone or sketch for your reference, you can use TradingView to draw. Although drawing with a computer mouse will be a bit difficult but gradually you will get used to it.
2. You can divide the screen into multiple synchronized charts
Depending on your trading style, you may need to consider several time frames before entering a trade. Often you need to click a button and switch back and forth between time frames. If not, you can open multiple charts in advance while the drawings / indicators you are working on will only appear on one chart.
TradingView makes it much easier to view time frames by allowing you to view multiple charts on the same screen. What’s even better is that your drawings can be synchronized across all charts if you choose.
3. You can share charts, views on trade
TradingView allows you to share your charts and views with other traders and you can see the shares of these traders. Accordingly, people can interact with each other easily and this way will help you learn and improve your knowledge and skills.
III. Disadvantages of Tradingview
1. You have to pay for some basic features
The great features of Tradingview are probably not to be discussed anymore. However, one of these features will require you to pay if you want to use them. For example, the ability to view multiple charts on one screen will require you to purchase Pro Tradingview.
2. You need to use 2 platforms at all times
Tradingview itself is not a trading platform for you to make trades. While Tradingview is affiliated with brokers such as Oanda and FXCM, it is almost impossible for you to engage in trading with this charting platform. Therefore, you will be required to use your broker platform (almost every time). This is a bit inconvenient because maybe you are used to doing everything on the same platform but using it for a long time will make you familiar.
3. Not all charts are always synchronized
One of the great drawbacks of Tradingview is that you never really know whether the drawings you make on your chart are saved or not. Sometimes, if you close the browser too quickly, you may lose all the analytical tasks you have done before.
With the information above, we hope readers will have an overview of Tradingview. If you have any questions or concerns regarding the above content, please feel free to leave your comments in the comments section of the article!