TradingView Review: A Comprehensive Analysis Platform for Traders and Investors
Is TradingView the ideal choice for investing insights?
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TradingView Review Summary:
Bottom Line: TradingView Rating: ★★★★★ 5.0
Product Details: TradingView is one of the most recognized and popular charting platforms for traders looking to gain valuable insights and information to better guide their investments.
Pros ⚡:
- Powerful charting platform with excellent customization
- Active community of professional and casual investors
- Detailed economic calendar
- Flexible pricing
Cons⛔:
- Mobile app isn’t the greatest
- Pricing tiers can be confusing
- Community posts can be hit-or-miss
Cost:
- Basic — Free
- Essential — $12.95/month
- Plus — $24.95/month
- Premium — $49.95/month
Learn more ➨ TradingView’s website
Disclaimer: If you join, I may receive a commission, at no cost to you. This is a 100% honest review of a service I have used and loved.
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One of the most popular platforms for trading insight and information is TradingView. However, is it the right choice for you? Here, we will take a comprehensive look at everything that TradingView offers. That includes the platform’s major features, pros, cons, and pricing structure.
TradingView Review: What is TradingView?
TradingView is one of the most popular investing information and insight platforms. It is a powerful charting platform that offers a wide range of features for technical analysis. Founded in 2011, TradingView is designed for active traders who require advanced tools and features. Today, it is among the most popular choices for charting tools, real-time data, and collaborative community features.
Key Features of TradingView
TradingView is known for having one of the most robust sets of charting and analysis tools of any platform. TradingView offers a variety of technical analysis tools that cater to both novice and experienced traders, assisting in conducting detailed analysis and enhancing trading strategies. Here is a look at the most popular features available:
1. Social Networking for Traders
One of TradingView’s most popular features is its unique social media platform. Here, users can share trading strategies, discuss market trends, and post articles within the community. Users can share and learn from trade ideas within the community. This allows traders to easily access trading insights and strategies. Engaging with the community can help users enhance their trading skills as well.
It is important to note that the information on the social media platform is rarely verified. Therefore, it is important for the user to perform some due diligence before making any investment decisions. Furthermore, sometimes you need to sift through some unhelpful conversation within the community chats to find value.
2. Advanced Charting Tools, Technical Analysis Tools, and Supercharts
TradingView offers its unique Supercharts that reveal the movement of an asset over time. TradingView is known for its advanced charting software. Users can choose multiple assets and stock symbols or customize their charts to focus on a specific time period. Additional charts available include heatmaps, which provide an overview of the stock performance of a sector. Using both SuperCharts and Heatmaps can make it easy for traders to identify opportunities in the market. TradingView allows users to display multiple charts simultaneously on a single screen, facilitating a more efficient trading experience.
More experienced traders can make use of custom timeframes, bar replays, and the ability to layer multiple indicators. TradingView integrates various technical indicators for effective market analysis. While free users can only access limited indicators, upgrading to a paid plan allows for features such as utilizing more than one chart per layout, which is beneficial for comprehensive analysis. In short, TradingView offers just about any customizable solution for traders and investors of any experience level.
3. Screeners
TradingView also offers one of the most advanced stock screens in the industry. With stock screeners, you are able to filter stocks and other assets based on various parameters. Screens can allow you to easily discover stocks and assets that may offer outperformance over various time frames.
Here is a sample of some of the parameters you can filter by:
- Index
- Price
- Market Cap
- P/E
- EPS Diluted Growth %
- Sector
- Analyst Rating
- Return on Equity
Additionally, TradingView also offers stock recommendations ranging from Strong Buy to Strong Sell. For those who don’t have the time or inclination to use the screen, the stock recommendation offers a quick and easy way to find investing opportunities. Screeners are an essential tool for conducting technical analysis and identifying potential trading opportunities.
4. Economic Calendar
One of the most useful tools and one of my favorites is the platform’s Economic Calendar. With this tool, you can keep track of various events including earnings, central bank announcements, holidays, and consumer confidence ratings. Additionally, the Economic Calendar is also customizable to allow for the integration of personal information.
5. Mobile Experience
Like many other investing insight platforms, TradingView also offers basic features on its mobile app. This simplified version of TradingView offers basic charting tools as well as a watchlist. While the mobile app lacks deep analysis versus the desktop version, it is valuable for quick market updates on the go.
TradingView Plans and Pricing
TradingView offers a free version with limited features for users to explore the platform. Additionally, TradingView provides a detailed breakdown of various pricing plans, ranging from the free version to several professional tiers, with costs associated with each plan. Here is a look at the currently available plans as of 2024:
1. Basic Plan (Free)
● Limited charting features
● Access to the TradingView community
● Basic stock screeners
● Ad supported
2. Essential Plan ($12.95/month)
● 2 charts per tab
● 5 indicators per chart
● 10K historical bars
● 20 price alerts
● 20 technical alerts
● No ads
3. Plus Plan ($24.95/month)
● 4 charts per tab
● 10 indicators per chart
● 100 price alerts
● 100 technical alerts
● Access to custom charts (Renko, Kagi, etc.)
4. Premium Plan ($49.95/month)
● 8 charts per tab
● 25 indicators per chart
● 400 price alerts
● 400 technical alerts
● Advanced charting features (auto chart patterns, second-based alerts)
Professional Plans
Expert Plan: $239.95/month
Elite Plan: $419.95/month
Ultimate Plan: $599.95/month
Professional plans offer highly advanced tools and information designed for institutional investors. These plans are specifically tailored for professional traders who require the most sophisticated trading tools and data.
Pros and Cons of TradingView
With its high number of features and stellar reputation, there are many reasons to consider the platform. However, there are also some drawbacks to consider. Here, we will explore the pros and cons of the platform.
Pros
Charting Tools
Perhaps one of the most compelling reasons to consider the platform is that TradingView is a powerful charting platform with amazing charting capabilities. With TradingView’s Supercharts, you can customize information in an almost infinite number of ways. Whether you are looking to integrate basic chart lines or more advanced candlestick patterns, you can use TradingView’s charts to easily create what you are looking for. Additionally, the graphic design allows for easy interpretation of the charting information no matter how complex the information. The chart refresh is also very quick and efficient. I have used services in the past where the analysis was hampered by sluggish chart load speed. Thankfully, that’s not the case with TradingView!
Active Community
As one of the most popular trading platforms, TradingView has one of the most active trading communities that you will find. That includes professional and casual investors who provide a nice range of insights. If you are new to trading, you may find the community to be rather valuable in gaining trading insights. However, it is important to note that TradingView is not a direct trading platform; users need to utilize additional broker platforms for executing trades.
Economic Calendar
One of the most important features of TradingView is its Economic Calendar information. With these features, you can stay up to date on market-moving information and this can allow you to set-up trades during the most volatile times of the trading year.
Flexible Pricing
Finally, TradingView provides a pricing plan for just about anyone. Whether you are just starting out or you are an institutional investor, you can find a plan that is ideal for both your budget and your trading needs. That also includes a free price tier which allows you to test out the platform before committing to it financially. The TradingView cost ranges from a free version to several professional tiers, with the Essential and Plus options being popular among serious traders due to their comprehensive features, while the free version may have limitations for in-depth technical analysis.
Cons
Limited Mobile App
One of the biggest drawbacks of TradingView is its limited mobile app capabilities. Quite simply, TradingView is designed to be used on a desktop. The mobile app is simply designed to provide basic information if you happen to be away from your desk. Therefore, if you are looking to do most of your trading analysis by phone, then TradingView’s mobile app may not be the ideal choice for you.
Quality of Community Posts
One of the biggest complaints about TradingView is the fact that some of the comments in the community posts are not very helpful. That is not to say that there are no valuable insights to be found. It’s just that you may have to sift through some unproductive posts in order to find the gems that you are looking for. TradingView can benefit from better community monitoring.
Learning Curve
Finally, TradingView does offer an array of indicators and charting features to drive analysis. Some features have more of a learning curve and could be a turn-off for some new investors.
Conclusion — Is TradingView worth it?
Overall, TradingView is an excellent choice whether you are a serious investor who relies on the latest news and tools to execute a trading strategy or a beginner looking for a free charting service to get your feet wet. No matter which pricing plan that you choose, you will find some excellent value with TradingView. That being said, if you are looking to trade exclusively on your phone, then you may find TradingView’s mobile app to be somewhat limited. Additionally, is TradingView safe? Yes, TradingView is a secure platform that holds minimal user data and ensures security through bank-level encryption for its broker connections.
A Robust Platform for Investors at All Experience Levels
TradingView is one of the most robust trading strategy platforms with one of the top investing communities for traders at any level. If you are considering TradingView, then you may want to consider the free plan or try any pricing plan with its 30-day trial period. Overall, we highly recommend TradingView for both new and experienced traders and investors. TradingView provides a wide range of trading tools, alongside educational opportunities and community engagement, which help users enhance their trading strategies and improve their understanding of market psychology.
TradingView Alternatives
- TrendSpider — Another well know platform with advanced charting, analytics, automation, and market research that assists traders in becoming more efficient and precise in their analysis. Check out our review of the platform here, https://medium.com/the-investors-handbook/trendspider-review-advanced-technical-analysis-made-easy-50aca4e0d005.
- Scanz — Another popular option that is primarily used by day traders and swing traders. The platform features a pro scanner, easy scanner, news scanner, charting, as well as breakout signals. They offer a free trial, but the monthly pricing is higher than most similar services.
- Finviz — There is a free version of the platform which does a nice job of providing great value at no cost. Overall, Finviz is a great option for swing traders looking for both fundamental and technical options for scans, but if you want to get at some of the more powerful tools such as back testing and advanced charting you will need to sign-up for their Finviz*Elite service. Pricing is very reasonable though at $39.50/month OR $299.50/year ($24.96/month).
Frequently Asked Questions (FAQ)
Can I use TradingView for free?
Yes, TradingView offers the Basic Plan which is always free of charge. This free plan allows you to test out the platform to see if it is right for you.
What is the main benefit of the TradingView community?
With TradingView’s community, you will be able to see other trader’s strategies and insights. This could be particularly helpful if you are a new trader looking to get an edge in the markets.
Are TradingView’s paid plans worth the cost?
TradingView offers pricing plans that provide advanced charting tools, more indicators, and additional features that can help you become a more profitable trader. If you have a larger account, the TradingView priced plans are worth it. If you are just starting out as an investor or trader, then the Basic Plan is recommended.
How does TradingView compare to other platforms?
TradingView’s unique features include the integration of charting tools along with an active social media community. While other trading platforms may be a little easier to use, TradingView provides one of the most robust platforms on the market.
Is TradingView suitable for beginners?
The Basic Plan is ideal for beginners. However, the paid tiers may be somewhat more complex than what is needed for someone starting out on their trading and investing journey.
What are TradingView’s professional plans, and who are they for?TradingView’s professional plans deliver extensive real-time data and analytics that are ideal for professional investors. These plans are more expensive than tier designed for individual investors.
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