Tradingview – A Charting Application or a Social Network?
Tradingview is a top-rated charting application, used by millions of traders worldwide. The platform is undeniably adored by all niches of the online trading world. Tradingview attracts forex, CFD, cryptocurrency, futures, options and stock traders from all walks of life. You might wonder, why Tradingview is so popular amongst different categories of traders and how it was possible to cater to them all. The success of Tradingview is largely due to the many social components integrated inside the charting application.
Tradingview has a rich set of features that most trading platforms struggle to contend with. There is a wide variety of chart types, workspace customization options, indicators and controls. One area where Tradingview excels is with annotation tools and chart objects. The application supports dozens of patterns, geometric shapes, Fibonacci, Gann, prediction and measurement tools. All of these accessories make Tradingview a very competent application for setting up and sharing trade ideas, theories and analysis.
Tradingview Ideas Stream
The number of annotation features available inside Tradingview has made it the perfect tool for traders to apply and communicate their ideas to other traders. Besides the many powerful and glorious tools which are available, Tradingview has introduced several community-oriented features which allow users to share ideas.
At the centre of Tradingview’s community is the Ideas Stream. Members can share their chart setups and backtests with a description. Very much like a social network, other members can like, share, follow and comment on posts. Not only can you follow specific users, trading pairs, markets, or types of analysis, but you can actively search for ideas in the feed. There is even a feature which shows past ideas plotted on charts.
While it might seem strange to take trading suggestions from complete strangers on the internet, Tradingview makes it easy to report users and their posts which allows the community to police itself. One brilliant feature is the ability to show recent market data on older trade ideas. For example, if you find a trade idea from 5 days ago and want to see how accurate it was, you can hit a play button, which loads new bars. Instead of having to compare two charts against one another, you’re able to see how the idea played out at the click of a button.
Tradingview Community Features
Although the Ideas Stream is one of the centrepieces of the Tradingview community, the platform offers many other networking features.
- Public chat rooms
- Private messaging
- Live streaming
- User profiles
A Professional Network for Traders
It must be said; there is no place on the web quite like Tradingview. While other social networks, messaging applications and online forums do provide habitation to trading communities, none of them come close to offering what Tradingview does.
Besides having so many trading-orientated features, many users appreciate that Tradingview is all business. Many traders liken it to the “Linkedin of trading”. You won’t find any memes, home-video fails, random news articles or dogs doing funny stuff.
While you’re chit-chatting to your peers, you will never feel disconnected from the markets. Tradingview streams price updates, news, market sentiment and more.
Trading on Tradingview
While everything in this article probably makes Tradingview sound so miraculous it would be impossible for any trading platform to compete with it. Here’s the thing; Tradingview isn’t primarily a trading platform. Tradingview makes its money in a few ways, they show ads in the application, and they sell subscriptions to traders who want an ad-free version with some premium features. It means you will still need to execute your trades in MetaTrader 4 or cTrader.
You may have seen Tradingview charts and widgets everywhere; in forex trading platforms, crypto exchanges and embedded on many investing websites. That’s because Tradingview offers a charting library for platform developers to use their products and widgets for new sites and blogs to embed on their websites.
Should you be on Tradingview?
Even though you can’t execute trades with brokers like Scandinavian Capital Markets, Tradingview can be an inspiring community to be involved with. It allows you to connect and engage with traders from around the world, share and debunk ideas and stay in tune with the markets.