TradingView: The Best Cryptocurrency Charting Platform
TradingView is a U.S.-based provider of financial markets data charts and analysis. You can access the service via a mobile app for iOS, Google Chrome Browser App, and an Android application.
The cross-platform charting product from TradingView is a significant milestone for the cryptocurrency trading industry. It allows users to get an in-depth analysis of multiple cryptocurrencies alongside alerts about developing news within the digital currency sector.
In this guide, we examine the crypto trading platform to unravel how it can be a useful tool to enhance your crypto trading endeavours.
TradingView Features and Tools
TradingView is ideal for both beginners and advanced traders. The platform has developed several vital tools to help crypto investors, thereby simplifying the process of analyzing the market.
On the platform, users can access numerous cryptocurrencies alongside their trading charts and conveniently search their preferred coins on any exchange. For example, if you are looking for Bitcoin, just enter BTC/USD or any other pair in the search bar. TradingView will then display a list of all supported exchanges, after which you can select the one you want to analyze.
The available cryptocurrency charts offer in-depth-analysis, time frames, comparison of support and resistance levels, Fibonacci levels, among other options. TradingView has an extensive library of technical indicators for cryptocurrencies to help you understand the markets. To add an indicator, click ‘Insert Indicator’ and search for the corresponding tool.
If you are a beginner in crypto trading, the paper trading simulator is a handy feature specifically designed to help novice traders through the whole trading experience in a simulated environment. Therefore, you can practice trading strategies with virtual coins before going “all in” with real-life money.
Another of the platform’s highlights is the fact that it provides you with multiple charting options and features. The best thing is that everything is fully customizable. Hence, you can create simple charts to track one or more digital coins, as well as create multiple dynamic charts that actively track various crypto markets of your choosing.
Market Coverage And Server-side Alerts
TradingView allows you to access all major global exchanges such as Binance and Coinbase, giving you instant access to unlimited cryptocurrencies such as Bitcoin Ethereum and Ripple. The platform also provides the option of accessing all sorts of calendars (economic and earnings calendars), gains, splits and dividends, extended trading hours, time zone options, and custom time intervals.
Server-side alerts are another reason why TradingView is regarded as one of the best platforms of its kind. You can set alerts for all a plethora of factors and conditions. You will then get notified when something happens in the crypto markets that meet your requirements.
Moreover, TradingView has a social network feature that offers traders and investors a platform to interact with each other. The social network functionality is a great tool that allows users to share charts and to learn about other traders’ ideas on a specific cryptocurrency.
To exploit this fantastic feature, simply click on the cryptocurrency ‘Screener’ tab and choose ‘Cryptocurrency Signal Finder.’ You can then select between tabs Performance/Oscillators and Trend Following.
Under Oscillators, you can find settings related to trading indicators like MACD and RSI. You can then select your preferred exchange like Binance, Bitfinex, among others, and narrow down to available options like “buy strong,” “neutral,” “strong sell,” and “any.”
In the next stage, you will then select the timeframe you would like to screen. Once done, you can set alerts to notify you when the signal triggers your settings and receive an E-mail or SMS.
How to Use TradingView
TradingView was created to be easy and intuitive for beginners to use, but also powerful enough for advanced chartists to master.
Basically, TradingView gives you a wide range of charting tools. Each chart shows a horizontal and vertical axis that tracks the corresponding timeframe and price of digital token, helping traders get the necessary info to make informed trades.
There are several display options for the price on a typical crypto chart, as can be seen in the example below:
Candlesticks are popular in the trading community because more information is available to you as a trader around what buyers and sellers are doing through each trading session. Green candles point to an upsurge in price from the close of the previous candle, while red candles indicate the opposite. Candles provide three distinct pieces of information:
- Opening price.
- Closing price.
- High and low prices for the selected timeframe
TradingView Improving the Crypto Trading Experience
Just recently, on Feb. 18. 2020, FXCM Group, a leading international provider of foreign exchange trading, CFD trading, cryptocurrencies, and related services, launched an API-powered integration with TradingView that allows traders to execute orders directly from the charting platform.
With access to TradingView’s powerful charting tools, advanced data analytics, and user-generated research, customers will now have the option to gather new sources, assess market moves, and trade in real-time.
Additionally, Gemini exchange recently integrated popular TradingView’s trading chart analysis service on Feb. 4, 2020, allowing its institutional customers to trade or invest directly through the charting platform.
TradingView has been actively developing in recent years, expanding support for several crypto indices, including those of crypto exchanges like Huobi. After raising $37 million in a Series B financing round led by Insight Venture Partners in 2018, TradingView made its first-ever acquisition in April 2019, bringing on board multi-broker trading services TradeIt.
In June 2019, TradingView added the so-called CIX100 index — an artificial intelligence-powered index for the 100 strongest-performing cryptocurrencies and tokens. TradingView also listed the index alongside financial terminals of major global publications like Reuters and Bloomberg.
TradingView is loaded with tools for crypto traders to use for making their trading experiences the best that they can be. The ability to handle both beginner and experienced traders makes the platform stand out.
Traders can access charts, infographics, blogs, and more when they sign up on TradingView. It is a one-of-a-kind website that crypto traders are flocking to in high numbers.
With TradingView, you can track different crypto prices from anywhere, in real-time. Additionally, the free package has enough tools to get you started. Note that tools like technical indicators and Cryptocurrency screeners are vital to maneuver the highly volatile crypto market.