You think only professional investors use Tradingview. Maybe it's too hard and costs money!
Actually Tradingview is quite easy to use even if you are a newbie. And there is also a free version so you don't have to buy it.
I also know nothing about technical analysis and can "catch the bottom, sell the top" quite a few times.
Of course not 100% because nothing is absolutely accurate. Besides, there is a limit to my skill level.
So what is Tradingview and how to use Tradingview.
What is Tradingview?
First, Tradingview is a set of technical analysis tools for financial markets such as stocks, forex (Forex), cryptocurrencies…
In addition, Tradingview is also a miniature social network between traders. You can read other people's opinions or publish your own.
It is a platform trusted by 30 million users worldwide.
So why should you use Tradingview? Can't use it?
The answer is up to you!
Because many crypto players follow the school of technical analysis. That is, they just need to analyze the project, the team, the problem that the project solves... and then buy it without looking at the chart.
Some people think that the chart provided by the exchange is more than enough for trading, so they don't need Tradingview anymore
Maybe you find Tradingview too complicated to use or you don't even know what Tradingview is
Why you should use Tradingview:
- Free (if you want to use more features, you can upgrade later)
- Friendly interface, easy to use even if you are a newbie and have never known indicators and forecasts in technical analysis
- Support many languages, including Vietnamese
- There is an app for computers and on iOS and Android phones. Those of you who use the big screen will see how it is
Sign up for Tradingview for free
First, go to the following link to register for a free account: https://vn.tradingview.com/.
Then you click the [Register] button.
A window will appear, you just need to choose how you want to register.
If you want to register quickly, you can register with your Google, Facebook account ...
For example, here I will register by email, so I click on the Email section and then do the following:
- Type your email
- Set password
- Tick the box I have read and agree to…
- Click on the box I'm not a robot
When done, click [Create account]
So that's it then. You can use Trading view right away and always.
Tradingview 2022 User Manual
Before using, you can download Tradingview to your computer or phone if you want! After downloading, install and log in with the information created above.
Download link: https://vn.tradingview.com/desktop/
After registering for Tradingview is complete. To view the chart, at the homepage of Tradingview, hover your mouse over the [Products] tab and select [Chart]
NOTE: You can switch the language and turn on the dark mode (Night mode) by clicking on the profile name and changing it to your liking.
Depending on what your purpose is to see the chart, add it to the list!
To add a chart, do the following:
- Click on the list image
- Click on the . sign
- Type the code/pair for which you want to see the chart. For example, here I type BTCUSDT . pair
- Click the ➕ sign next to the floor you want. For example, here I choose this pair on Binance exchange
Do the same with other codes/pairs. As you can see in the picture, Tradingview supports stocks, bonds, forex, cryptocurrencies...
Example you want to see:
- Gold Price (GOLD): XAUSDT
- ADA Coin: ADAUSDT
- EURO/US Dollar Pair: EURUSD
- Ratio of BTC capitalization to the entire crypto market cap: BTC.D
- Total crypto market capitalization minus Bitcoin: TOTAL2
How to draw Fibonacci on Tradingview
It can be said that Fibonacci is my favorite tool. Simple but effective.
I just show you how to draw! Ignore the accuracy problem. Because I'm not a technical analyst.
On YouTube, there are many detailed instructions on how to draw Fibonacci you can refer to.
Just because you know it doesn't mean you'll draw correctly. You need a lot of practice to get better at it.
I find that just a pro tool is better than a tool, any indicator can be used but not expert.
How to draw Fibonacci on Tradingview:
- Click on the toolbar with the Fibonacci image
- Select Fibonacci retracement. You can press the star to add to favorites. Favorites will be right on the screen
- In an uptrend: Place the cursor at the lowest position.
- Hold and drag the cursor to the top of that trend. Release the mouse. In a downtrend, do the opposite.
You can also double-click on the newly created Fibonacci, adjust the level for accuracy, change the drawing color, the background color as you like...
Add indicator to Tradingview
To add an indicator to Tradingview you do the following:
- Click on [Indicators]
- Type the indicator name in the search box
- Click on the indicator, indicator or strategy you want
Some popular indicators for newbies that you can refer to are:
- Volume Profile
Depending on the type of cryptocurrency, stocks, bonds, Forex pairs… you want to trade there will be different strategies.
You should experiment and filter out the indicators that work best for you.
In addition to the free package as above, Tradingview also has the following paid packages:
- Pro: $15/month
- Pro+: $30 / month
- Premium: $60/month
I think for newbies, just using the free plan is enough. Later, when you are profitable, it is not too late to upgrade to higher packages.
So I just went through what Tradingview is and how to use basic Tradingview for newbies. I will continue to update.
Wish you success!