As an analyst or trader who wants to analyze particular crypto, stock, or commodity tradingview is one of the best recommendations for you. In our contemporary world, trading has become more tactical and has gone beyond the trade of normal currency pairs I.e USD/EUR, due to the emergence of blockchain technology which gave rise to cryptocurrency (a digital currency in which transactions are secure and decentralized rather than centralized which is handled by authorities).
Before you make any investment, it is expected you look at the price chart to know what you are investing in. What is a price chart? A price chart is a chart that shows the sequence of prices plotted over a specific timeframe. While some people just take a quick look at the price chart to look at the uptrend or downtrend others might want to do serious technical analysis which involves drawing support and resistance lines to find the perfect entry-level.
In this article, we talk about how to set up Tradingview for crypto, the Types of Markets on TradingView Different Tools for analyzing crypto on Tradingview, and indicators. Also, answers to some frequently asked questions will be given. It is advised you read through this article properly in other to get the full context.
What Is TradingView?
Tradingview is a charting platform Used by traders, educators, investors, and market enthusiasts to analyze and keep track of the market. Also, it is a place where people connect to share ideas and talk about the market.
With over 30 million traders and investors worldwide tradingview has become one of the world’s most used and trusted charting platforms.
Types of Markets on TradingView
TradingView offers data on multiple types of markets not just crypto:
Finally, Detailed sortable screeners are available for the forex, cryptocurrency, and stock markets that provide users with market attitude info.
Step-by-step guide on How To Use Tradingview for Crypto
Time Needed : 5 minutes
We have listed below a few steps to take on how to properly set up and use tradingview for crypto.
- Create an account or sign in
To get started you need to create an account. When you sign up, TradingView will automatically save your default chart template, which is very helpful. - Customizing you chart
undefined after creating an account, and opening up the price chart of an asset you watch the most, you can start customizing the settings. First I suggest you choose how you would like the price to be shown, candles, bars, line, or something else. You can do this from the top left corner next to the time frame, and also while you’re there you can adjust the default time frame you’d like to use. After that, you can start to customize further how you’d like your chart to look.
To access the basic layout settings you can either right-click the screen to access them, or you can directly access them by clicking the settings icon (looks like a gear) from the top right corner. Here you can find loads of stuff, some of which are purely aesthetic, while others can be truly useful in performing analysis. - Indicators
At the top of your screen, you’ll see the text “indicators” with a symbol next to it. This is where you’ll find every indicator you could ever imagine. There are two types of indicators, the indicators built-in by TradingView and a public library. The public library is excellent for those who follow someone via youtube or other places, and who like to make their indicators.
However, there are a lot of options to choose from. Their built-in indicators are the most commonly used and you will find some familiar and useful ones there. The public library on the other hand is endless. As you can see there is the number of likes next to the name of each indicator which gives you a good overview of whether it’s something useful or not. You can also search for a certain one if you know what you’re looking for.
Tools
- Mobile phone, tablet, or a computer
Materials
- Tradingview
Tools in Tradingview and What They are Used For
In addition to the numerous extra settings in Tradingview for crypto, the chart itself can be configured by right-clicking on it and selecting the “settings” option. Below are some of the things you’ll find in the settings and what they are used for.
FAQs on How to Use Tradingview for Crypto
What exchanges are on TradingView?
The Exchanges and Pairs Included are only exchanges supported by TradingView for crypto:
- Binance
- Bitstamp
- Bittrex
- Coinbase
- Gemini
- Bitfinex
- Kraken
- Poloniex
- HitBTC
Many other top exchanges are not included, because they are not supported by TradingView
Can I trade directly from TradingView?
Once your brokerage is supported in the TradingView Web Platform TradingView users can then sign in to their brokerage accounts (or create a new one if needed), receive the broker’s streaming data & send orders directly to the broker.
What is the best indicator in TradingView?
The Pi Cycle Top Indicator has so far been effective in picking out the timing of market cycle highs within 3 days. Also, It uses the 111-day moving average (111DMA) and a newly created multiple of the 350-day moving average, the 350DMA x 2.
How much does it cost to trade on TradingView?
Tradingview pricing is easy to understand. TradingView Basic is free and costs $0.00. This, the Paid Plans cost between $14.96 for Pro, $29.96 for Pro+, and TradingView Premium for $59.95 per month. There are also yearly subscriptions for the paid plans available.
Does TradingView sell User data?
Tradingview does not sell your personal information. Also, you have the right to request the deletion of personal information collected from you.
Conclusion
Using Tradingview for crypto is a great step to take toward becoming a great analyst or trader. With its special indicators and features analyzing any crypto, stock, or commodity.
Nonetheless, after reading this article on how to use Tradingview for crypto we are sure you now know what trading view is about and how to use it for crypto.