How to use TradingView for beginners

Before trading crypto, traders need to prepare technical analysis to ensure that their trading activities are profitable. in conducting this analysis Traders need platforms or tools that can facilitate technical activities. One of the most popular platforms used by traders is Trading View.

As a technical analysis platform, TradingView is not aimed at experienced traders only. But it is also friendly to beginner traders. If you are a beginner trader who wants to familiarize yourself with the platform. Here we will show you how to use TradingView for beginners.

Get to know TradingView

TradingView is an all-in-one browser-based trading platform. This means that you can get almost all the equipment you need to trade crypto on this platform. TradingView includes real-time trading charts. technical indicators and social networks in one place

TradingView was launched in Ohio in 2011 and currently has over 13.7 million users. from beginners to experts

Users can analyze issuers. commodity Cryptocurrencies and more through TradingView. Not only is the chart support very complete, You also get relevant news about the commodity or cryptocurrency you are viewing on the chart.

For novice traders, TradingView can be used to “heep” advanced trader strategies through its community and livestream features. Additionally, TradingView’s built-in tools and indicators are less intimidating for new traders than more “serious” platforms like Bloomberg.

How TradingView works

TradingView is a web-based platform. To access all of TradingView’s features, you can visit the official page directly at tradingview.com. https://www.tradingview.com. From here, you can access all chart types available without the need to log in or have an account first.

From the main TradingView page, you can find trading chart Whatever you want through the search box, TradingView lets you choose which charts you want to look at, from stocks, cryptocurrencies, bonds, indicators, to forex.

For example, if you want to view trading charts for cryptocurrencies. You just need to choose the currency pair that the chart will be displayed on. After that, the platform will open the chart in real time. with all indicators

You can view open, high, low and close data for the time period displayed on the chart. Users can also search for bids. (Benchmark for Sales) and Inquire (Benchmark for Buying) when the chart is updated. You will find a countdown to the next chart.

If you want to do more analysis You can login to your account to create your own indicators. Join other traders through the community. and access to all features. TradingView is not a broker or a broker that can facilitate you to buy and sell assets. But this platform can connect you to the global broker you use.

On the main TradingView page, there are four menus at the top of the page. Descriptions of the four menus are as follows.

1. Product

The product menu covers the main features of TradingView, including Charts (a chart viewer), Screeners (organizing charts to your liking), and Heatmaps (viewing market conditions). Ripto, while Heatmaps can only be viewed on Stocks and Cryptos. The full range of features makes TradingView one of them. best stock screening software.

There are three features under the Community menu: Live Streams (online broadcasts from other users), Ideas (forums for sharing ideas and communication), and Scripts (custom user-created identifiers). ) Community is TradingView’s social media.

3. Market

The Markets menu displays financial markets from different sections. of the world as the name shows. Here you can access crypto stocks, forex, indices, commodities. and bond market

4. News

The News menu is an indirect support for charts and indicators displayed in TradingView. You can access relevant news from all over the world about stocks. Cryptocurrencies, Forex, Indices, Commodities and Bonds

TradingView provides a platform with tools that help traders make things easier. technical analysis. These tools can be found when the platform displays charts or trading charts.

The following is a complete description of the tools in TradingView.

• Top Toolbar: Chart Customization
  The toolbar at the top of this chart allows you to customize the chart according to your tastes and personal conditions. Users can change the shape of the chart from the default candlestick to line or area. You can also change the time period shown on the chart. from default per day to per week, per month or even per minute.
  There is also an option in this toolbar to compare assets between user-owned categories, for example, crypto-assets and gold. You can also add an alert if the trade reaches a certain point.
• Left Toolbar: Chart Customization
  The row of tools on the left is an editing tool for customization that can be applied directly to the chart. Here you can draw trendlines, add text, use Fibonacci retracements, measure chart movements, and more.
• Right toolbar: Community
  The tool on the right side of the screen connects you to the community. where you can share trading ideas and strategies with other users. Includes chart sharing and custom indicators.

How to use TradingView

After getting familiar with the tools in TradingView, you can start using this trading platform to conduct technical analysis. You must have an account and be logged in to continue using TradingView.

Here are three easy ways to use TradingView for beginners.

How to create your own indicators in TradingView

To create your own price indicator in TradingView, follow these steps:

• Click the ‘more’ button next to the name of the indicator you will use as an external input.
• Select ‘Add indicators/strategies on…’ and then specify which indicators to use as inputs.
• Right-click on the indicator of your choice, then press ‘Add Indicator’.
• Make sure both scripts are loaded on the price chart. To confirm, click ‘Settings’ next to the name of the indicator you will associate. You will find the ‘Input’ tab. Source from dropdown column
• In the ‘Settings/Input’ tab, add an external input.

How to show volume in TradingView

amount Shows the number of trades made at a particular point in time. To show volume on your TradingView chart, here are the steps:

• Click the ‘Indicators’ menu.
• In the search box, type ‘volume’.
• Access the ‘Settings’ menu, set the trading volume you want to display, e.g. the moving average. or change the color for the highest and lowest indicators

How to use Fibonacci retracement in TradingView

There are two ways to use Fibonacci (Fib) retracement e.g. manually and automatically

manually

Click the four horizontal lines icon under the Trend Line tool. point to the chart Then mark on the timeline or price you want.

Manual Fib retracement tool Allows you to change the colors and lines, coordinates, and graph style.

The Fib retracement on TradingView can show you 24 different Fibonacci levels, including 0% and 100%, which are caused by huge differences when you draw the line.

automatically

To access automatic Fib retracement, simply click on the ‘Indicators’ menu and then select ‘Auto Fib Retracement’. The Fib retracement will be automatically printed on the price chart of your selected asset.

That’s how TradingView works for beginners. I hope this is helpful.