TradingView is one of the most valuable tools when it comes to technical analysis. It’s a free tool, with a huge library of indicators, drawing tools, and social media aspects to.
- It’s an online tool used for Level 1 technical analysis
- It’s free to use, but the pro version is exceptionally useful
- Signup using the link below to get 30% off pro (if you decide to upgrade).
- A TradingView account. (Click here to make a TradingView account now.)
What is TradingView
Popular trading tool — TradingView is where most traders go to perform chart-level technical analysis.
Browser-based — It works in your browser, so you don’t have to worry about what platforms it runs on.
Free to try — Use the big button above, and create an account. You don’t need to pay for the full package, but it will limit how many indicators you can use.
Find a cryptocurrency pair
TradingView makes it really simple to find cryptocurrency pairs.
- Go to the search bar at the top.
- Input a cryptocurrency pair. (for example,
- Select a pair from an exchange with high volume. (for example Binance.)
Open up a ‘full-featured’ chart
After you’ve selected a cryptocurrency pair, you’ll be taken to another screen. Like the one below.
You should see a ‘Full-featured chart’ button, above the chart. Hit this button, and you’ll be taken to the proper charting tool.
How to use TradingView
Assuming you’ve found your way to the BTCUSDT chart on TradingView, you can start testing out the toolset.
Don’t worry if it looks scary at first, we’ll cover it all.
Reading the Price Chart (above)
There’s a deeper tutorial on reading candlestick charts in the Crypto Trading course. For now, …
We’ll keep it short and sweet.
- The details in the top-left of the chart — Bitcoin / TetherUS is the cryptocurrency pair, 15 means each candle is 15mins, BINANCE is the where the price data is coming from, Heikin Ashi is in reference to the type candlestick chart.
- The green and red candlestick line — shows us the price changes over time.
- The blue smooth line — this a 100 period moving average. (Read more about moving averages.)
- The right axis (USDT) — this shows the value of BTC in USDT,
- The right axis labels — the bid price is shown in green, the ask price is shown in red.
- The bottom axis — this shows the date (or time if you use a lower timeframe)
Change Timeframe in TradingView
It’s important to consider multiple timeframes.
- Higher timeframes give you more of a ‘macro’ view of trends and market moves.
- Lower timeframes give you a view of ‘micro’ changes.
Try changing the timeframes, and see how the chart changes. You’ll be surprised at just how volatile cryptocurrencies are.
Switching price charts
You can switch between: Candlesticks, Bars, Heikin Ashi, Line, Area charts and more.
Different charts give the trader different information. Line charts are less busy, but really, you should familiarize yourself with candlesticks.
The candlestick chart is the most common chart that people use.
Green bars — show periods where the price closed higher than it opened.
Red bars — show when price closed lower than it opened.
Heikin Ashi also makes charts cleaner, and, for some, easier to trade.
Candlesticks are similar to the standard candlestick chart — but instead, bars only change if the previous bar closed either or lower too.
Compare the chart below with the chart above. Notice how the Heikin ashi has less noise.
More coming soon.