A Beginner’s Guide to TradingView: Settings and Handy Tools You Need to Know

If you're just getting started with trading or investing, one of the best platforms to use for charting and analysis is TradingView. Whether you're trading stocks, forex, or cryptocurrencies, TradingView offers powerful tools that can help you make smarter decisions. In this beginner's guide, we will walk you through the essential settings and handy tools on TradingView that every new trader should know.

What Is TradingView?

TradingView is a cloud-based charting and analysis platform that allows traders to track price movements, use technical analysis, and share ideas with others in the community. With its intuitive interface and wide range of tools, TradingView is ideal for both beginners and experienced traders.

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Why Choose TradingView?

User-Friendly Interface: TradingView’s clean and intuitive design makes it easy for beginners to get started with technical analysis.
Real-Time Data: Access live market data from various global exchanges, including stocks, forex, cryptocurrencies, and more.
Customizable: You can personalize your charts and layout to suit your trading style.
Community Features: Join a vibrant community of traders who share ideas and strategies.

Getting Started: Basic Settings for Beginners

Before diving into TradingView’s tools, let’s first set up your account and adjust some basic settings to improve your user experience.

Creating an Account

To start using TradingView, you’ll need to create an account. Here’s how:

Go to Tradingview.com
Click on "Sign Up" and create an account using your email or social media profiles like Google or Facebook.
Once logged in, you can start customizing your profile and settings.

Pricing and Subscriptions: Choose the Right Plan for Your Needs

TradingView offers a range of subscription plans to suit different types of traders, from beginners to professionals. Whether you’re just starting or looking to access advanced features, TradingView has a plan for you. Here’s a breakdown of the available options:

Free Plan

Features: The free plan is perfect for traders who are just starting out. It includes basic charting tools, limited indicators, and one chart per tab.
Limitations: You can only set up one alert at a time and the data is delayed by a few minutes for some markets. Start Here!

Pro Plan

Price: $14.95 per month
Features: The Pro plan offers more features, including access to more indicators per chart, multiple charts in one tab, real-time data, and up to 10 alerts. This plan is ideal for traders who need more flexibility without the full suite of features.
Benefits: Enhanced charting tools, more indicators, and better customization options. Get Here!

Pro+ Plan

Price: $29.95 per month
Features: This plan includes all Pro features plus the ability to save more chart layouts, access to 30 alerts, and priority customer support.
Best for: Intermediate traders who need advanced charting tools and more alerts for monitoring the market. Get Here!

Premium Plan

Price: $59.95 per month
Features: The Premium plan is the most comprehensive, offering unlimited charts, 400 alerts, advanced technical indicators, and priority customer support. You can also enjoy other premium features like backtesting, custom chart layouts, and more.
Best for: Professional traders who need the full suite of TradingView tools for high-frequency trading and in-depth market analysis. Get Here!

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Customizing Your Chart Appearance

Customizing the User Interface

TradingView offers several options to personalize the user interface to your preferences, making it easier to navigate and use its features. Here's how to customize the layout and appearance:

Themes: TradingView allows you to change the color scheme of your platform. If you prefer dark or light modes, you can easily adjust this in the settings by clicking on the gear icon in the lower left corner and selecting your preferred theme.
Toolbar Customization: The toolbar on the left side of the chart can be personalized to suit your trading style. You can add, remove, or rearrange the tools you use most often, such as drawing tools or technical indicators.
Multiple Chart Layouts: If you prefer to analyze several assets simultaneously, TradingView allows you to open multiple charts in a grid layout. This is especially useful for comparing different timeframes or markets. You can select a layout from the top toolbar and choose how many charts you want to view at once.

Exploring Technical Indicators and Tools

TradingView is renowned for its extensive library of technical indicators, drawing tools, and charting options. Understanding how to use these tools effectively can give you an edge in your analysis.

Adding Indicators: Click on the "Indicators" button at the top of the screen and search for the specific tool you want to use. Popular indicators like Moving Averages, Bollinger Bands, and the Relative Strength Index (RSI) are available.
Drawing Tools: The left toolbar includes a variety of drawing tools that help you mark up your charts. For example, you can use trendlines, support and resistance lines, Fibonacci retracements, or text annotations to highlight key levels or patterns.
Pine Script: For those who are more technically inclined, TradingView’s Pine Script allows you to create custom indicators and strategies. This feature gives you the ability to write your own scripts to automate your analysis or backtest strategies.

Tradingview Paper Trading

If you're new to trading or want to test a new strategy, TradingView offers a paper trading feature where you can practice trading with no financial risk:

Activate Paper Trading: Open the "Trading Panel" at the bottom of your screen and select "Paper Trading" to start using a simulated account with virtual funds.
Test Strategies: Practice entering trades, analyzing markets, and adjusting your strategies. This feature helps you get comfortable with the platform and improve your trading skills without risking real money.

Connecting TradingView to Brokers for Live Trading

Once you’re ready to trade live, you can connect your TradingView account to supported brokers. Here’s how to get started:

Link Your Broker: In the "Trading Panel" at the bottom of your screen, select your preferred broker from the list. TradingView supports popular brokers like OANDA, Interactive Brokers, and Alpaca.
Execute Trades: After linking your account, you can place live trades directly from TradingView’s interface. Monitor your positions and track performance in real time.

Special Offer: Get $15 Off Your TradingView Plan

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How to Claim Your $15 Discount

Click the Link: Use our exclusive affiliate link to visit the TradingView subscription page.
Sign Up for Your Plan: Choose the TradingView plan that best suits your needs (Pro, Pro+, or Premium).
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Conclusion

TradingView is a powerful and versatile platform that caters to traders of all levels. By setting up your account, customizing your chart layout, utilizing the alert system, and exploring the wide range of technical indicators, you can make more informed decisions and streamline your trading process. Whether you’re paper trading, analyzing assets, or executing live trades, TradingView has everything you need to enhance your trading experience.

Start your TradingView journey today and take your trading to the next level!