TradingView Review

Charting tools provide a visual representation of market data, allowing for easier identification of trends and trading opportunities. However, finding a suitable platform can be challenging for traders and investors. That’s why this TradingView review might be exactly what you’re looking for.

Now, you might have a lot of questions jotted down regarding this charting platform's features. Some might even be wondering if you can trade on TradingView. Here's a spoiler: you can, as the platform collaborates with crypto exchanges like Binance and Bybit to provide trading functionality.

By the end of this review, you'll know how to use TradingView and decide whether or not this platform is suitable for your trading needs.

What is TradingView?

Before getting into the pros and cons of the platform, let's start this TradingView review by delving deeper into the key question – what is TradingView? It’s one of the most popular charting platforms for various kinds of assets, from cryptocurrencies to government funds.

TradingView was established in 2011 by Stan Bokov, Denis Globa, and Constantin Ivanov. Prior to this, the founders had developed MultiCharts, a desktop software designed for professional traders. Their goal was to create a web-based version of MultiCharts that would be accessible to anyone with internet access.

Additionally, the founders aimed to incorporate social features that would allow users to engage and gain insights from each other's trading strategies.

As a result, TradingView has grown into one of the most-used charting platforms. Global traders use it for conducting technical analysis, sharing trading ideas, and following market data. Crypto exchanges and various trackers incorporate its charts into their interfaces.

Now, though, besides supporting a range of financial instruments, what unique points does TradingView have that make millions of traders and investors use it? Or perhaps there are some considerations to ponder? Let's address those in the upcoming sections of my TradingView review.

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TradingView Review: PROS

Let's start with the platform's core strengths that are praised in user TradingView reviews – from market data to community features.

Market Data Across Various Asset Classes

As soon as you land on the TradingView homepage, you'll be greeted by the market summary of various market data. TradingView compiles over 2 million instruments, including:

• Indices
• Stocks
• Exchange-traded funds (ETFs)
• Cryptocurrencies
• Forex
• Futures
• Bonds

You can select each financial instrument to see the graph and popular options on that asset. Click on the title [Market summary>] to direct you to the "Markets" page, which provides a more detailed overview of every asset.

To localize the results, click on the [Markets, everywhere>] button and select a specific country. This will allow you to focus on the markets most relevant to your geographic location and trading interests.

The "Markets" page is quite lengthy, compiling various financial instruments with their key information, including top gainers and losers, as well as popular options. Click one of the instruments to explore more details and charts for that asset.

Each instrument section provides tailored information based on its characteristics. For example, "ETFs" offer insights into the most traded options, the highest returns, and dividend yields, while "Crypto" displays market cap ranking and top gainers and losers.

If this page is too much to comprehend, hover over "Markets" at the top menu bar and click the category to see specific information. You can filter the results by industries, locations, or financial instruments, preventing you from being overwhelmed by the information.

Let's say you hover over the "Crypto" menu. Doing this shows you several sub-menus, such as "Market cap charts" to visualize the total market capitalization of cryptocurrencies and "Coins" to track all the supported cryptocurrencies on TradingView, starting from the most popular.

Once you select one of the sub-menus, you’ll see the Screener. But wait, what is TradingView’s Screener? It is a tool for searching assets and arranging them based on your preferred parameters.

For instance, the Screener for the crypto market provides filters like "Gainers" to show only top-performing cryptocurrencies and "52-week high", displaying cryptocurrencies that have reached their highest price in the past 52 weeks. On this page, there are two main menu bars at the top of the screen that offer various options for analyzing the data displayed, which are exclusive to the registered users.

The first bar functions as a sorting mechanism, enabling you to arrange the data according to various parameters such as market capitalization, 24-hour price change, and year-to-date performance.

In contrast, the bottom menu bar offers a more granular analysis of the selected cryptocurrency, providing detailed insights into its performance, valuation, addresses, transactions, and other relevant metrics. There’s also an option to change the table view into a chart view in this menu bar.

At the top of the page, you can switch between different exchanges like Binance, Kraken, and Coinbase to compare prices and show the asset information in that specific exchange.

Beyond the Screener, TradingView offers a heatmap for a quick visual overview of key asset classes. The heatmap allows you to filter by various criteria, including total value locked (TVL), 24-hour volume, and coin types, helping you refine your selection. Click on the asset to see its chart and key statistics, like price and circulating supply.

While this platform tracks a respectable number of cryptocurrencies, with 3,999 coins in total at the time of writing this TradingView review, it may fall short for traders seeking a more extensive selection.

Meanwhile, the BitDegree tracker, one of TradingView's alternatives for crypto traders, comes with a more comprehensive list of over 21,300+ coins and tokens tracked.

Robust Charting Tools and Technical Analysis

Now, another strong point of TradingView is its charting tools. After all, it supports 21 visual chart types. In addition to the standard candlestick patterns and bars found in many price trackers, TradingView offers unique chart types like Renko and high-low-close charts.

Renko charts are a simplified form of price representation that focuses solely on price changes without considering time or volume.^[1] On the other hand, high-low-close charts emphasize price changes over a certain period, allowing traders to ignore the less significant open price value.

This variety of visual charts helps traders read crypto chart patterns, analyze trends, and develop trading strategies. Each chart type has its own strengths and weaknesses, and by understanding its unique characteristics, traders can choose the most appropriate chart for their specific analysis needs.

How to use TradingView's charting tools? Click [Products] on the top menu bar and select "Supercharts". There, you should see an area with the charts for the instrument you want to analyze. Find your preferred instrument by clicking on the pair at the top left. There are stocks, funds, crypto, and other options, along with some filters to refine your search based on specific criteria.

Other than charting tools, I also want to highlight this platform’s various technical analysis features in this TradingView review. It comes with hundreds of built-in indicators, strategies, and drawing tools that may help you measure the market’s interest and conditions.

If the built-in indicators aren’t suitable for your needs and you still don’t want to upgrade, consider creating your own custom studies or modifying existing ones using Pine Script. The tool is accessible in the lower panel of "Supercharts", designed for writing and editing code.

Once you finish making your custom indicator or editing the existing one, you can add it directly to the chart, save it for further use, or publish it on TradingView’s community channel.

Overall, I think "Supercharts" is pretty much similar to other crypto screeners – it has a chart area, indicators panel, watchlist, trading panel, asset information, and news feed. However, the platform supports more financial instruments than just cryptocurrencies.

For instance, the watchlist has multiple sections for different assets, and it has financial data for stock traders. The data includes a company’s income statements, balance sheet, and cash flow. Knowing this helps traders learn more about a company’s profitability or capital structure before deciding to invest in its stock.

This arrangement may suit you if you’re a professional trader eyeing various instruments. You don’t have to jump between dashboards, especially with the paid version of TradingView, where you can customize multiple chart layouts. Meanwhile, new users or people who want to focus on a specific instrument may find this platform a bit intimidating.

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Trade Without Leaving the Platform

One might ask, "With the chart panel provided by the platform, can you trade on TradingView?”. Yes, you can.

To get started, locate the "Trading panel" below the chart area and connect to your accounts from supported crypto exchanges (or other platforms if you want to trade other financial instruments). At the time of writing this TradingView review, it partners with 80+ brokerage and crypto exchange platforms, including popular options like Binance and Bybit.

Some exchanges like OKX even provide options to live trade and create a TradingView demo account to practice your skills without using real funds. Meanwhile, others require you to input your username or API key to start trading.

Knowing this mechanism, people with privacy concerns may wonder, "Can you trade on TradingView without connecting your brokerage account?". The answer is no. TradingView is primarily a platform for technical analysis and charting, not a crypto exchange itself.

By connecting your account, you allow TradingView to access its information, including your trading history, positions, and balances. So, the trading itself happens on the platform you've connected.

If you have privacy concerns, it's important to carefully consider the risks and benefits of connecting your brokerage account to TradingView. You may want to research the platform's security measures and privacy policies to ensure that your information is protected.

Now, once your TradingView account is connected to one of its trading partners, an order form column will appear to let you sell or buy an asset and choose an order type with varying execution conditions (market, limit and stop-limit).

Besides the order form, there’s depth of market (DOM), a visual representation of the current buy and sell orders for a particular asset at different price levels. It shows the quantity of orders at each price point, providing a snapshot of the market's supply and demand. Traders often use DOM to analyze the market and determine the optimal price and quantity for their orders.

This trading functionality seems useful, especially on desktop, right? However, can you trade on TradingView using its mobile app? Thankfully, the TradingView mobile app is available for both iOS and Android devices and offers many of the same features as the desktop version. Likewise, you can view charts, place orders, and manage your positions directly from your smartphone or tablet.

While the integrated trading functionality in "Supercharts" seems convenient, it may lack certain features compared to directly trading on the exchange. For instance, I couldn't implement trailing stop loss orders when connecting to Binance through TradingView. This limitation restricts my ability to protect profits from potential market reversals.

Another trading feature worth mentioning in this TradingView review is "Bar Replay". It allows users to simulate past price movements for strategy testing, helping traders refine their strategies by analyzing historical market trends and practicing trading decisions without risking real money.

Other than "Bar Replay" and creating a TradingView demo account, you can access paper trading to get a hands-on experience at trading without any risks. Paper trading simulates real-world trading conditions without using actual funds.^[2] Your starting balance is automatically set at $100,000, but you can easily reset it whenever you like.

How to use TradingView’s paper trading? Like real trading, there are three ways to use this feature on this platform:

• Use the [buy/sell] buttons for quick order placement on the chart.
• Right-click directly on the chart at your desired price point. Existing orders can be adjusted by simply dragging them up or down.
• Navigate to the order form and fill in your buy or sell order details there.

Once you're confident with your paper trading strategies, consider joining "The Leap". What is TradingView’s "The Leap"? It’s a paper trading contest where traders worldwide compete and discover how their skills stack up against others (with top contestants sharing a prize pool). That said, check the schedule of the competition, as it's an on-and-off program.

Connect With Other Traders

TradingView has multiple social features to allow you to connect with other traders. For one, you can use "Ideas" to share written content or videos with TradingView tutorials or general trading topics. You can also comment and engage with other users' posts. Plus, there's "Minds", TradingView's social media feed accessible via "SuperCharts".

Anyone, including users with a TradingView demo account, can browse and read the "Minds" feed, but those with a paid subscription can publish posts and leave comments. If you're curious about how "Minds" works, consider taking advantage of the TradingView free trial to explore the social capabilities of this platform for 30 days.

Additionally, you can share market analysis with others and receive valuable feedback from the chart area, or send private messages. Make sure to verify your account by entering your phone number and a confirmation code to unlock this feature.

Aside from sharing and exploring content, you can access free scripts the community has created. The TradingView "Community Scripts" section offers three types of scripts: indicators, strategies, and libraries. The indicator and strategy scripts can be directly applied to your charts, while libraries are designed to be imported into code and used indirectly.

Tracker for Important Economic Events

TradingView not only lets you track market data but also gain insights into the economic spectrums around the globe. Take the economic calendar, which gives you the scoop into key financial events and statistics, including:

• GDP and interest rates;
• Announcements from central banks;
• Employment reports;
• Tweets from certain world leaders.

Each event listing includes the time of the announcement, the country of origin, and a visual indicator of its importance. Given the complexity and uncertainty of the markets, the economic calendar can aid in understanding market movements due to certain events and indicators.

By clicking on an event, you can access detailed information, including a chart, news, and the option to add it to your Google calendar.

To focus on specific regions, filter the results by country. This customization feature allows you to tailor the economic calendar to your trading interests and preferences.

Another way to filter the results is by clicking the "High importance" button to show only events with the highest importance to help you focus on key data.

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TradingView Review: CONS

Although TradingView has its perks, every tool comes with its share of drawbacks, which is what I'll discuss next in this TradingView review. After all, knowing the downsides of the charting platform can shed light on areas where this platform might not meet everyone's needs or expectations.

Poor Customer Service

Many user TradingView reviews show criticism for the company's customer support. One of the common complaints is its limited support options. TradingView primarily relies on an online ticketing system for customer support, which can be time-consuming and frustrating.

Once connected with the representatives, some expressed frustration because the agents often sounded dismissive or unwilling to go the extra mile to assist customers. This lack of empathy can make it difficult for customers to resolve their issues.

Meanwhile, some users seemed to consider a TradingView alternative after experiencing unclear communication. They said the company's refund policy can be ambiguous, leading to confusion, misunderstandings, and potentially unexpected charges.

At the same time, its policies are rigid, particularly regarding refunds. Customers who have encountered these kinds of problems may find it challenging to get a satisfactory resolution.

If you're considering using TradingView, it's essential to be aware of these potential issues and take steps to mitigate the risks, such as carefully reading through its terms of service and refund policy to understand your rights and obligations.

Features Locked Behind a Paywall

Another TradingView's drawback is that a lot of the useful features are locked behind a paywall. While the free plan gives you access to the basics, like one chart per tab and three indicators, that’s where it stops.

On top of that, the free version bombards you with pop-up ads and prompts to upgrade, which can be super distracting while you're working. These interruptions can break your flow, especially when you're deep into analysis or watching market trends.

TradingView Pricing

Speaking of paywalls, let's look into TradingView's pricing. Those who are just curious about the features can access the website for free, even without signing up. However, you have to register to unlock some features, including items on the watchlist, sorting and filtering options on the "Screener", and commenting on someone’s ideas.

Apart from the "Basic" plan, TradingView offers five paid plans, with the three most affordable categorized as "Non-professional" and the rest as "Professional". All paid plans are ad-free, although some user TradingView reviews have reported seeing ads in their paid subscriptions.

The cheapest paid subscription, "Essential", is priced at $14.95 per month, while the most expensive, "Ultimate", costs $239.95 per month (with the monthly plan). Each comes with its own TradingView free trial to let you test the features before committing to a subscription.

Table: TradingView pricing plans

All the plans also have different flexibility and supported features. Suppose you want to have more freedom to use multicolored flagged symbols for watchlists and have more chart layouts. In that case, I suggest you subscribe to at least the "Premium" plan.

For those who are interested in buying subscriptions, TradingView accepts multiple payment methods: credit cards, PayPal accounts, Apple Pay, and crypto payments (annual plans only). If you purchase a plan on its mobile app, it’s possible to use any method supported by Google Play or App Store.

As this platform offers trading capabilities, you might wonder if any fees are charged. Well, TradingView itself doesn’t mention whether it charges any trading fees. However, it's important to note that when you connect your brokerage/crypto exchange account to TradingView for live trading, you will be subject to the trading fees and commissions charged by the platform in question.

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How to Sign Up to TradingView

If you decide to give TradingView a try, let's talk about setting up an account on it:

I chose the Basic plan by clicking the [Sign up] button inside the [$0 forever] box.

After going through the steps in this short TradingView tutorial, you’re all set up to get hands-on experience on how to use TradingView.

Conclusions

Summing up this TradingView review, it's obvious that the platform offers extensive market data for multiple financial instruments and a range of features for technical analysis and charting. Its community features can also help users access insights and resources from other traders.

However, it's important to consider the platform's limitations, such as the need for a paid subscription to access certain features and unresponsive customer support.

Additionally, while TradingView offers trading functionality, it may not be as comprehensive as directly trading on an exchange like Binance or Bybit. Consider creating a TradingView demo account to try its features and see if it fits your trading needs before committing to a paid subscription.

Ultimately, whether TradingView is the right platform for you depends on your needs. If you’re looking for a tool with data for various financial instruments, TradingView may be a good option.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. Kozak J., Kania K., Juszczuk P.: 'Permutation Entropy as a Measure of Information Gain/Loss in the Different Symbolic Descriptions of Financial Data';

2. Dakalbab F., Talib M. A., Nasir Q.: 'Artificial Intelligence Techniques in Financial Trading: A Systematic Literature Review'.