- Stock Charts
- Technical Indicators
- Ease of Use
TradingView is a free stock chart service (with paid options) with beautiful charts, an impressive selection of technical indicators, and an abundance of valuable features. Our review explains the highlights of this service and how you can make the most of it.
TradingView is browser-based financial markets charting and analysis platform for traders and investors. It is a powerful and flexible platform with a ton of features and social media integration with a built-in community of traders all available for a monthly or annual subscription fee. Its cloud-based technology enables users to access the platform from any computer or mobile device, making it portable and powerful. The platform is amazingly flexible, covering global equities, futures, and forex markets. This is possibly the best browser-based charting platform currently on the market in terms of function and value.
Is the platform right for you? Keep reading our TradingView review to find out.
Co-founded by Stan Bokov in 2011, the platform offered free powerful browser-based charting to grow the site from 2,000 daily visitors to a 15 million worldwide user base. The community has grown to over one million registered users. This growth has been spurred by the genius widget-apps placed on various high traffic blog sites like Investopedia. Unlike other communities that converse on opinions, rumors, spam, and so-called fundamentals, TradingView is based almost solely on technical analysis and charts. This tends to weed out the pump and dumpers and spammers, thankfully. You can also follow some of the best technicians, which is a nice idea generator in itself.
It is free to set-up an account with limited access and delayed quotes to kick the tires. However, intra-day traders will need real-time quotes and chart data and the ability to save charts with indicators and tools on them. TradingView offers three levels of paid subscriptions. All subscriptions come with a 30-day trial period; however, all subscriptions require exchange fees for real-time data. The PRO plan is 9.95 per month with discounted rates for yearly and 2-year pre-payments. This plan allows for two charts per layout on a single device with five indicators per chart and five saved charts. This plan only allows for regular market hours charting.
The Pro+ plan is $29.95 per month, with prepaid discounted rates for yearly and two-year plans. This plan allows four charts per layout on two simultaneous devices with ten indicators per chart and ten saved chart layouts and, most importantly, extended hours charting. The PREMIUM plan is $59.95 per month, allowing eight charts per layout on five devices simultaneously with 25 indictors per chart and unlimited saved chart layouts.
Paid plans also have access to extended trading hours, which can be helpful if you plan on using TradingView for real-time trading data. Extended trading hours data can be used in real-time or plotted across a longer-term chart.
Paid plans also offer better customer support. Customer support levels range from regular to priority to first priority. While it isn’t entirely clear what these customer support levels entail, it’s interesting to see that support varies by plan.
It should also be noted that all plans incur monthly exchange fees.
TradingView Platform Features
TradingView started off as just a charting platform but has continued to add features at a tepid pace. It has grown into a full-fledged community of technical traders and investors featuring instant messaging streams per market and much more. Here’s a rundown of the key features.
The TradingView charts are still my favorite aspect of the platform. TradingView has everything from basic candlestick and bar charts to Heikin Ashi and Renko charts (chart types vary by subscription plan).
Users have a lot of options when it comes to chart layouts. Each browser window can feature up to eight individual chart windows, based on the user’s subscription plan. Each of the charts can be linked to the same or different time intervals or the same symbol on different time intervals. The charts can also be expanded or shrunken and easily resized just by left-clicking in the window and dragging. The “auto” button on the lower right side of the chart will autoscale the chart to smooth it out for the select time period in the chart window. This is a very useful tool, especially when you have a lot of indicators on the chart. The drawing tools are vast and impressive, to say the least. They provide everything from harmonic pattern plotting to Elliott Waves to pitchforks and more. The best part about the drawing tools is that they are saved to your chart and can be accessed at any time.
TradingView charting is hands down the best online charting option available right now.
The platform has a TON of indicators, including all the traditional Built-In technical ones, including moving averages, stochastic, MACD, RSI, CCI, Pivot Points, etc. They also have a Public Library segment with custom indicators created by users. The Marketplace Add-Ons are 3rd-party indicators that can be purchased on a subscription basis ranging from $19.95 to as high as $149 per month.
You can have up to 25 indicators per chart, depending on which plan you are subscribed to.
Automated Technical Analysis
TradingView recently launched an automated technical analysis tool similar to the one Barchart offers. The tool uses a variety of technical criteria to determine whether the stock is a buy or a sell.
Here’s an example of one of the analyses:
What I like about this tool is that it allows you to switch between timeframes. You can choose to analyze a stock using intraday timeframes, daily timeframes, weekly timeframes, and monthly timeframes. The introduction of time into this analysis makes the results more accurate. For example, a stock may breakdown intraday while still holding strong on the daily chart. Traders can use these different timeframes to align the analysis with their personal trading styles.
Of course, like its manual counterpart, automated technical analysis is not a foolproof system. First, technical analysis doesn’t factor in fundamental data, market conditions, or company news. Second, technical analysis is a speculative art that is difficult to automate with accuracy. That said, TradingView’s automated analysis is an interesting feature. It can be a helpful starting point for your own analysis, or it can serve as a way to automate some of your own analysis processes.
TradingView’s automated analysis isn’t using any proprietary algorithm. It uses basic rules of technical analysis. For example, a stock trading above its 200-day moving average would be considered bullish in the long-term. TradingView’s automation can compute this on the fly.
Here are the indicators they use:
The news feed is basically pulled from various websites, including YAHOO! Finance, TheStreet, Motley Fool, and Briefing.com. There isn’t a dedicated scrolling real-time newsfeed, so news-based momentum traders are out of luck here. Most of the news is headlines that open up in a separate browser window when clicked.
The stock screener is pretty basic here. You can scan based on fundamental metrics, including valuation metrics like price-earnings, dividends, margins, and analyst ratings. This is very generic and provides basic information. If you’re looking for a more advanced free scanner, you should consider FinViz. That said, the TradingView stock screener can be helpful for coming up with trade ideas that can be analyzed directly within the TradingView platform.
TradingView allows users to set alerts on the chart. It’s just a matter of right-clicking on the chart at the price level you want for the alert, very convenient. It also allows alerts based on indicators, drawing tools, and pine (their trading language).
Order Entry/Compatible Brokers
TradingView allows you to link supported online brokerage account to place trades. Popular broker integrations include TradeStation, Tradovate, Gemini, and Oanda.
Watch lists can be constructed easily within the TradingView platform. You can create as many watch lists as you need.
Customization and Saved Layouts
Charts and layouts are saved on the cloud, which makes them accessible from any mobile device. My biggest gripe is the file management system that can be very confusing. Unlike most other platforms that allow you to save all your charts in a single layout for easy access with changes, Trading View has a 1,000 indicator maximum limit per layout. This doesn’t mean 1,000 stocks but a total of 1,000 indicators, which include anything from moving averages, pivot points which can number 5 or more, each retracement line on a Fibonacci retracement chart, and so forth.
The more detailed your charts are, the less space there is for them. Also, when you save a layout, be sure not to open a new layout in the process, or else it will only save changes to the new layout. The automatic auto-save feature is clunky as it will stall our charts while it autosaves constantly. If you have duplicate layouts open and make changes on one layout, it will not save to the other layout. Make sure you remember this before you spend 30-minutes putting together a detailed chart only to realize it was never saved or written over by an old layout. The file management system is the biggest problem with TradingView.
The last important feature of TradingView is the social networking component. TradingView allows users to share trade ideas with annotated charts. This is one of the best attempts at social trading that I’ve seen. Whereas StockTwits quickly became reminiscent of old stock market message boards, TradingView actually has some legitimacy.
Users can share their trading ideas and tag them by symbol so all ideas come up when you search for a ticker. You can also check the credibility of a user based on a “reputation” metric that is unique to the TradingView platform. While you should never assign too much weight too other people’s trading ideas, it is definitely convenient to be able to review the analyses of other traders.
TradingView can’t be beaten in terms of value and features. Comparable platforms can cost upwards of $200 a month, making this one a great value for $19.95-$59.95 monthly plus exchange fees.
Another benefit of the TradingView platform is that it works with a broad range of markets. You can use the charting for stocks, currencies, cryptocurrencies, and much more.
What Type of Trader Is TradingView Best For?
This platform is for traders and investors who primarily favor technical analysis. I can’t stress how versatile the charting is. It even has a playback feature that lets you review how the price history played out from a specific date to the present. The features are amazing. The programmers have really thought out everything that traders could or would need. I personally love the countdown timer on the candlestick charts that let you know how much time is left for the candle to close. Very often, you can see how the algos will sweep the bids or asks to “paint” a bullish or bearish candle right before it closes.
Is TradingView Premium Worth It?
TradingView is one of the few online charting platforms that offer a feature-rich free version. Most traders are likely to discover TradingView while looking for free charts.
There’s no doubt that the free version of TradingView is worth it. You get access to tons of powerful tools for free – it’s a no brainer.
As part of our TradingView review, we wanted to help users decide whether or not the premium packages are worth it. So, should you pay for a TradingView subscription?
The short answer is – it depends. If you already have access to a standalone trading platform like DAS Trader or ETRADE Pro, you may be hesitant to pay for another charting service. While TradingView offers a ton of valuable tools, the star of the service is definitely the charting.
If you are looking for an excellent charting platform that stores your charts on the cloud, TradingView premium services are an excellent choice. I recommend starting with the free version and upgrading as you hit limitations. Honestly, TradingView is one of the few platforms I’ve reviewed where the free version is almost too good. For many users, the free version is adequate, and there is no reason to upgrade to the paid version.
That said, the paid versions are absolutely worth it if you need access to real-time data, extended trading hours, more indicators per chart, and the other advanced features.
- One of the best charting platforms on the market
- Numerous indicators and tools
- Great value for the built-in features
- Accessible through a web browser and smartphone app for true mobility
- A growing community of chartists providing good ideas
- Globals markets and even Bitcoin data can be charted
- Weak newsfeed and fundamental analysis tools
- Confusing file saving system and irritating symbol limit pop-up warnings