31
Jan, 2019
tradingview-review

TradingView Review

Here it is, the most comprehensive, in-depth review on one of the best charting platforms in the industry. This TradingView review will take a deep dive into what makes this platform so powerful.

tradingview-review

TradingView is an extremely user-friendly web-based platform that supports stocks, futures, forex, CFD, and cryptocurrency traders all over the world. (keyword). I was introduced to tradingview.com early in my career as being the best stock charting website available at the time. Little did I know at the time is that was an understatement!

TradingView made it super easy to get started honing my technical analysis skills and crafting the strategy that has led to my success, trading the Futures market. Without having to download any software or purchasing a new PC, since I was using a MacBook, I was able to jump right into viewing charts for free without having to create an account. All the tools and indicators are available immediately for free. For additional features, such as multiple charts per layout, SMS alerts, and volume profile indicators, they have subscriptions to fit any budget. Once you develop a winning strategy the cost can be quickly offset within a single trade. 

TradingView Review and Tutorial Video

Subscription plans

TradingView offers several plans to fit any budget. The difference between the plans is the features you have at your disposal to use in your trading toolbox. Plans start with a free version that gives you the bare minimum core features of the platform and delayed data.

Out of the paid versions, the pro level offers plenty of features and tools to get you in the game, plus stock market data.

See the image below for a quick snapshot of the difference between the subscriptions. The image also serves as a link to learn more about the TradingView platform. Click the image below to get started with the TradingView platform.

Tools of the Trade

TradingView has all of the popular tools and indicators used by most traders plus much more. Not only does the platform come with hundreds of default tools and indicators, traders can also share their indicators and strategies with each other. All of these are easy to locate and user-friendly to implement unto the chart to fit each individual trader’s needs.

The layout of the platform makes it very easy to access the tools quickly when you need them.

The charts

The charts are probably the most user-friendly, interactive charts I’ve used. TradingView’s chart are the sole reason I kept coming back. Depending on the subscription plan you choose, you have several options for laying out charts on your screen. Also, additional features such as synchronization of drawing tools, time intervals, scroll time, symbols, and crosshairs makes performing technical analysis simple and efficient. All of these features can be turned on and off as needed with just one or two clicks of the mouse.

The settings menu allows for many ways to customize the look and feel of the chart. Colors for every element of the chart, including the background, text, and grid lines, can be adjusted in the settings. Also, you can make several adjustments to the style, scales, time zone and session, trading, and events.

There are a couple default templates you can choose from or you can create your own.

Replay

TradingView’s Replay mode is a very useful tool for back-testing, using historical data. Replay is easy to use and conveniently located at the top of the charting platform, indicated by an icon similar to a rewind button on a remote control.

Using this tool, traders can fine-tune their strategies and skills by picking a time in the past to replay as it happened in real time. This creates a safe environment for traders to iron out the kinks without risking real capital.

Stock screener

The stock screener is one of the best in the industry, giving you a wide variety of options to find the perfect stock to place a trade. And the best part about their screener is it’s completely FREE to use.

Rather you’re into technical analysis, fundamental analysis, or a hybrid of the two, Stock Screener gives you all the tools to find the perfect stock in your daily research. This makes it the perfect tool for day traders, swing traders, and investors.

You can test Stock Screener out for yourself below. Go ahead and give it a try! Just be warned… you may fall in love. (LOL)

AAPL chart by TradingView

Get a more in-depth review of their screener here.

Pine Editor and Strategy Tester

Another cool feature of TradingView is it provides a home for traders interested in coding, using the Java language. With Pine Editor, you can create custom strategies and indicators within their platform. You can test out those indicators and strategies using their Strategy Tester feature.

Check out this review that explains why a Forex trader switched to TradingView from Metatrader 4 (MT4) and why Pine Editor was a key factor that contributed to the switch.

Click here to read this Forex trader’s TradingView review here.

Paper Trading

TradingView’s paper trading feature is another one of my personal favorites of the platform. Switching on this feature is as easy as going to the conveniently located menu at the bottom of the charts and clicking “Connect” in the settings under the “Paper Trading” tab.

There’s no need to have a separate account or go through another login procedure. You can easily access their Paper Trading tool right there from the chart and trade right from the chart with your favorite setup. Paper Trading seamlessly works the same as trading live from your broker account.

If their paper trading feature wasn’t already cool enough, they continue to make it better! TradingView’s paper trading tool has been recently updated to where your desired stop loss and target settings are saved by contract. This was one of my issues with it before, but TradingView listened to traders’ concerns and made a much-needed improvement to their platform.

Updates and Reliability

TradingView frequently keeps their platform up-to-date. Updates and maintenance usually happen on the weekends so that it doesn’t interfere with traders’ experience.

Also, they do a great job reliably keeping the system up and running during market hours. Throughout the year of 2018, the platform has only had market hour issues a grand total of two times making it more reliable than many of its competitors. Before switching brokers to AMP Futures, many times I had to switch to TradingView due another platform I was using having data issues in the middle of a vital trading time in the market.

TradingView also has an app for optimal use on iPhones and iPads that can be downloaded from the app store.

Community

Other than being able to trade directly from the charts, one of my favorite features of TradingView is the various options to share my ideas and notes. I use this feature frequently to share my charts on Twitter, the Mv3trader community, and anywhere else I like to share ideas. 

TradingView also has one of the best trader communities in the industry. Traders can share their ideas and strategies with each other. And of course, this is a free feature within TradingView as well. Your membership allows you to see shared ideas and strategies of other traders at all level within the community.

There’s a plethora of knowledge being shared in their community from some of the most successful traders in the industry, including from one of my favorite Real Life Trading. Traders within the community also share the strategies they create that you can plug into your own system. All of these ideas can be found right from the convenience of the chart layout.

How does TradingView compare to competitors?

Web-based Platforms

Out of the web-based trading platforms I’ve used, there is no comparison to TradingView. As of this writing, TradingView is the fastest and most reliable web-based platform on the market. The ability to trade from the charts for so many different instruments sets TradingView way ahead of its competitors.

Many brokers recognize the power of TradingView’s platform to the point where they integrate TradingView within their own platform. As is the case with Oanda, which is a popular Forex broker based in Canada. One of the reason’s Oanda is a favorite amongst Forex traders is the ease of use and versatility of their platform compared to other major brands like Metatrader. Thanks to TradingView, Oanda stands out as a leader in their industry.

Software Platforms

With the number of features available on TradingView it would be more reasonable to compare it to software platforms. Still, TradingView stands high amongst the list of downloadable charting platforms. TradingView’s extensive collection of available tools and customization capabilities gives traders the same tools and capabilities as other powerful platforms, such as Sierra Chart, Interactive Brokers, and TD Ameritrade’s Thinkorswim.

Throughout my trading career, I’ve used several different platforms and TradingView is the one I’ve stuck with the longest. That says a lot about the platform. Before finding AMP Futures, I only used other platforms because the brokers I was with did not integrate with TradingView. I think that’s a mistake on their part because, as you can see, they lost a customer even though they had good commission and data fees. If Generic Trade integrated with TradingView, maybe I would still be trading Futures with them. But I digress…

Flexibility

TradingView was a key factor for me opening an account with AMP Futures. While I love trading on Sierra Chart, I’m limited with Sierra Chart as it is only available for PC. Having a Macbook, TradingView gives me perfect flexibility when I’m traveling or as a backup if something happens to my PC. With TradingView I can continue trading from anywhere as long as I have an internet connection.

The Cons

Now that I’ve covered the good about the platform, let’s talk about some of the cons about TradingView. No platform comes with some areas of improvement and TradingView is one of the platforms that has very few.

Bracket Orders

While it’s great to be able to place trades from the charts on a web-based platform, there is some room for improvement with how a trader can go about doing that. One thing I would love to be able to do is setup bracket templates. They’ve improved this area a bit as I mentioned above, but having the option to save bracket order templates would be even better.

Futures Data Fees

Another con would be the live data fees if you are trading Futures and your broker doesn’t integrate with TradingView. Before opening an account with AMP FuturesI was easily paying more than $200 per month for Futures data. However, the pricing is segregated by their respective market. Click here for more exact pricing for data services.

If you plan on trading from TradingView or using it to see live data to make trading decisions, I would highly recommend finding a broker that allows integration of data with TradingView. AMP Futures is a good one for Futures and OANDA is great for Forex from what I know.

*Note: Data for all markets is free, which is delayed by 5 minutes. Having a paid subscription will activate live data. So, if you only plan to use TradingView for only back-testing and studying, there is no need to pay extra for any data services.

Advanced Alerts

Additionally, and I feel like I’m being super picky here, but some additional customization could be added to their alerts feature. Now, I must note here that this opinion is a result of using an alerts system like in Sierra Chart. Before using Sierra Chart, TradingView’s alert settings worked perfectly for what I needed. I would say it’s perfect for newer traders getting comfortable with their trading habits and strategy. So honestly, it’s not much of a con after all!

And that is about all I have as cons. I really do not have many problems with TradingView as evident by it being the only platform that I have stuck with since I began day trading.

Conclusion

By now I think it should be clear why I consider TradingView to be the best web-based trading platforms available on the market. No matter your style, experience, or desired market, TradingView is a great choice for all traders. Even if it’s not supported by your broker for live trades. TradingView’s charts can be used to simplify your trading which is the key to reaping continuous success from the markets. I could see TradingView easily taking over the industry if more brokers would at least integrate their data with them.

20
Jan, 2019

Sierra Chart Review – Trading and Charting Platform

Sierra Chart is one of the most comprehensive trading platforms on the market. This platform provides a ton of features that any retail trader can use to trade Futures, Forex, and CFDs like a pro. Sierra Chart is by far my favorite trading platform (with TradingView a close second) that I could easily go for days with this Sierra Chart review explaining the reasons why, but I’ll try to keep this article short.

I have used several platforms, including Thinkorswim, TradingView, Generic Trade, and more. After giving the Sierra Chart platform a try when changing brokers to AMP Futures, I fell in love instantly and haven’t looked back since.

At the end of this article are videos where I give an overview and tips on the Sierra Chart platform. You can check it out after reading this short article, or you can skip the read and go straight to the videos.

Loads of Good

For me, Sierra Chart was like combining everything I loved about other platforms I have used into one. Before finding this platform, my setup consisted of various platforms that I would reference in order to trade and make decisions. Now, I can conveniently do everything I need, (trading, back testing, etc) all from one platform.

Plus, one of my favorite things about this platform is how lightweight it is, even with the robust functionality of the system. Coupled with AMP Futures, I have full flexibility to analyze years of data at my discretion.

Features Galore

Here is a list of some of the key features this platform has to offer.

  • Stable and Highly Customizable
  • Highly Customizable Charts
  • Basic and Advanced Back-testing Functionality
  • Highly Customizable Alerts
  • Full List of Studies, Indicators, and Drawing Tools
  • Automated Trading Using Spreadsheets or Studies
  • Chart and DOM Trading
  • Advanced Custom Studies, Indicators, and Trading Systems
  • Supports Numerous Data and Trading Services
  • Supports Stocks, Futures, Currencies/Forex and Options
  • Excellent Comprehensive Documentation

Click here for a full list of features and pricing.

The above list is just to highlight some of the key features of the Sierra Chart platform. There are so many ways to customize the system I could literally write a series of books on the platform. BUT, instead of writing books, I decided to cover some of those features in a video series.

The first of this series of videos gives an overview of the system and how I personally use the platform. I will be continuously posting videos about the Mv3Trader channel that can be found here.

The Not So Good

As with anything else, with the good there has to come some “bad”. With so many bells and whistles, this platform can be a bit overwhelming, especially to a newbie. It takes a bit of time to get used to all the different elements and features of the system. While you definitely don’t need to use every inch of the platform to get the job done, there is a learning curve to getting a feel for the system depending on how you like to trade.

While I haven’t needed to use it as of yet, I have heard some not so good reviews about their support. They do not have phone or chat support to help when you are stuck with something. Most support for this system is achieved through their forum. While their help documentation can pretty much assist with most of the issues you will run into, not everyone is a fan of reading through technical documentation to solve a simple problem.

On that note, their documentation is not very user-friendly either. As mentioned above, you have to be a fan of reading since there are no video tutorials or visual references to help the user understand the material easily.

Video Reviews and Tips

This is one of the main reasons I decided to make a Sierra Chart video series. I don’t mind reading the documentation or figuring something out through trial and error. I’ve learned a lot about the platform since I started using it and I’m still learning new things.

Below is a series of videos where I cover Sierra Chart. These videos can help you get started with the platform. In the future I will be adding to this series, going into more details about various features of Sierra Chart, so stay tuned for more!

Enjoy!