Hello everyone, dear friends!
In the last article, we covered the most useful tools of the left and top menu of TradingView live chart. I hope you were interested in learning about the opportunities this platform offers for cryptocurrency and any other trader. If you have not read the article yet, I highly recommend starting with it: “Useful TradingView Charting Tools for the Beginner Trader”.
I also remind you that the capabilities of the service are not limited to the functionality of the chart, they are much broader, we discussed them in the article “TradingView – why is it for a beginner trader?” I advise you to start getting to know the site from her. And today we continue to consider the tools of the “TradingView” live chart and talk about the right and bottom menus, and the opportunities that they open to the trader..
- 1 Right menu – Tools and quotes menu
- 2 Lower menu
There are various auxiliary, but very useful tools, there are 13 in total:
- Menu of quotes, news and other useful information for a trader;
- Button for quick access to notifications (alerts);
- Data window;
- Market leaders;
- The calendar;
- My ideas;
- Personal chats;
- Ideas feed;
- Application panel;
- Depth of order (DOM);
Let’s start with the right side of the graph itself..
This is a scale with a range of asset prices. Accordingly, the upper numbers are the maximum that the price has reached. When we hover over it, we see the date when this event occurred. If we drag the scale, then we can scale it, detail these ranges, divide them into smaller price points and view the price we need also by date.
The lower numbers are the minimum price at which this asset was traded, and the horizontal dotted line running through the entire chart is the price at which it is currently being traded.
I would also like to say separately about this window:
This is the buy / sell panel. Here, the actual quotes of the asset, the cost of buying and selling it, as well as spread indicators are displayed separately. On the right, the “i” icon indicates that we have no brokers connected. The exclamation mark to the right says that if you connect any paid subscription of the TradingView live chart, you will receive data updates with each new tick and many other features..
This window prevents many traders from getting acquainted with the main functions of the chart, and they try to disable it, but do not find such an opportunity. I will tell you how to do it below.
Now let’s go directly to the tools on the right menu. To the right of the price movement scale is a menu of quotes, economic news and other key information for a trader. In expanded form, it looks like the screenshot below. Let’s analyze it in more detail.
Menu of quotes and economic news Watchlist
As I said, by default in the TradingView platform, the quotes menu is expanded. Here you can see the current quotes of the currency pairs you are working with. In this menu you can “add” all the assets with which you work and it is convenient to view information on them.
It is also very convenient to create a new list, import it, etc., such opportunities are offered by clicking on the first “hamburger” next to the menu. And finding the desired currency pair is as easy as in the search in the top menu: you start entering a new asset into the search bar by the first letters, and then select it, depending on the exchange you are interested in..
Under the information on quotes, there is actual data about your currency pair, which you are currently viewing on the chart: the range within which the value of your asset moved during the day, technical analysis. This data will be very useful for the trading panel (bottom menu). But this will be discussed a little later.
And even below, all the latest topical news from the world of economics, politics that are related to your instrument and can affect its behavior. In general, this is an invaluable panel for a trader who can thoughtfully analyze and predict a situation. News can be selected from 5 sources:
- news “Prime”;
- Yahoo! Finance
- Futures Magazine.
Next to the first “burger” is another “hamburger”, which is the first item on the right menu. It just allows you to collapse the news and quotes menu, if such a need arises and for some reason it bothers you. This is what the graph looks like without this menu:
If you do not want to constantly monitor the chart, you can set up alerts that signal that the price has reached or is approaching the value you need. On the right menu of the chart, we see a scale with divisions, reflecting the digital indicators that the asset value reaches. When placing a bet, we indicate our forecast on it.
When the price approaches it, or reaches it, the key moment for our deal will come. In order not to miss it, you can turn on the notification by mail, SMS. To do this, you need to set the value at which the notification should be triggered, select the notification method. The rest of the settings are basic: date, how many times to repeat, where to send (SMS mail, etc.).
In the last article, we considered the possibility of setting alerts from the chart. You can manage, configure, restart them in the same place or in this panel. Many chart tools can be “accessed” in several ways – use which one is more convenient for you. Also here you will see notifications of new alerts and their list itself.
Here you can see detailed information about the price of your chosen asset in a particular timeframe:
- opening price;
- maximum threshold for the selected TF;
- candle closing price;
- data on changes;
Market leaders by volume and percentage
This tool allows you to view:
- growth leaders in terms of volume;
- growth leaders in percentage;
- falling leaders in percentage.
Here you can select assets that showed themselves especially brightly during the day (daily timeframe) and find out which prices were falling and which ones were growing in price. It also allows for high quality predictions..
An additional menu (“hamburger” next to each of the above items) allows you to select exchanges, individual features of the shares:
Allows you to view upcoming events, events of high importance, filter them by country. Also here you can see analysts’ forecasts and real values (the forecast came true / did not come true).
Ideas and Ideas Feed
Thanks to the capabilities of the TradingView chart, you can view other people’s forecasts, market vision, listen to the opinion of more experienced, top traders – right on the chart and publish your own. By clicking on a tool, its menu appears, as well as green circles on the chart. By clicking on any of them with the right mouse button, a context menu appears, in which you can select:
- all ideas;
- ideas of those who are subscribed to;
- only their.
- Red dots – the ideas of the authors indicate a decline in prices;
- Green – for growth;
- Yellow – for a general idea, or lateral movement.
By clicking on one of the points, you can see the author of the idea, its brief description. You can go to the trader’s profile, subscribe to it if you are not subscribed yet, see a detailed description of the forecast, reviews and likes on his other forecasts, and get acquainted with other ideas.
The arrow on the side allows you to return to the idea at any time, to check whether the trader’s forecast was successful or not. These are the unique opportunities provided by the TradingView chart.
Also in the menu “Ideas” there is a cross, through which you can add your idea. It can be private – just for you or public – for everyone.
If the author’s idea seems interesting to you and you want to study it in more detail, you do not need to draw each element from scratch. Few people know, but the idea can be copied to your live schedule and work with it as with your own!
To do this, under the idea you like, click on the button in the form of a loudspeaker – “Share”, and then, just click on the big blue button “Make your own”.
Then you will see how all indicators and elements of an idea will magically transfer to your personal live chart..
There are two types of chats in the menu – general and private. Here you can ask experienced traders questions, share your opinion and comment on the opinions of others. Comments are superfluous here – everything is like in other communication services. The same goes for notifications – they come, as in any other services about all events.
Request Panel Tool
The order panel is available only if connected to a broker. This is a trading tool and you will need it. When you have already decided to fully trade and make transactions.
This is a tool that allows you to quickly place a bet on the purchase or sale of an asset, starting from the price:
This tool is also suitable for trading, practicing traders.
The bottom panel is often updated, let’s see what it has. These are just 7 tools:
- Stock screener;
- Pine editor;
- Trading panel;
- Strategy tester;
- The ability to collapse the chart;
- The ability to expand the chart to full screen.
Tools 6.7 need not be considered as this is a button that allows you to partially collapse the chart to view data on tickers and expands the chart to full screen. The functionality here is clear and simple. Consider other tools.
TradingView Live Chart has three of them: Forex Screener, Stock Screener and Cryptocurrency Screener. This is a very useful tool for a trader, since having chosen a screener of interest, he can view in detail the behavior of an asset in dynamics, then export this data if necessary. In addition, notifications for a particular event related to the behavior of the currency pair of interest are also included here..
Viewing is possible in the overview mode, dynamics, oscillators, trend – the rating of moving averages, Bollinger bands, other most popular and effective technical analysis tools. For each parameter, you can sort currency pairs.
For example, in the “Browse” mode, you can sort them by exchange, by rating. The dynamics allows you to do this according to the time interval, volatility, and so on – it is better to go to the screener menu on your own and see all this, press, then it will become clearer.
In the search window, everything is as simple as everywhere else: the first letters of the asset name are entered. You can select the pair of interest, and the graph will be displayed in your window. If you expand the screener window, you can view in detail the data on the behavior of the asset and see the current market reaction (rating): “Sell”, “Buy”, “Actively sell”.
This is very convenient if you are a novice trader and still cannot make predictions on your own, then in this case you have the opportunity to test whether such ratings are wrong.
Allows you to record any information. Here you can find an old one or create a new one. The rest of the functionality is standard for this kind of menu..
Indicator scripts that are created by traders themselves in Pine Script, for example:
There are several ways to write indicators for your own needs and understand the algorithms of their work – tip # 1: if knowledge of English allows, study the Pine Script Tutorial.
This is a fairly detailed and easy-to-understand tutorial from tradingview.com, which will teach you the basics of Pine Script coding with simple examples..
To open this tutorial, just click on the “Help” button in the Pine editor. In addition to the tutorial itself, there are many other useful features, but the tutorial itself is by far the most important of what you can find there..
Tip # 2: Look at how the scripts themselves work. The easiest way is to just look at the source code of other already created scripts, of which there are a great many both on TradingView itself and on the Internet..
To insert a ready-made script from another source, for example, from channel telegrams, you need to follow the step-by-step instructions, which is illustrated in the figure above:
- Open the Pine editor;
- We press the button “New”;
- Click on “Empty Strategy Script”;
- We insert the script code into the window, at the same time overwriting what was there before;
- Click “Save”;
- Click “Add to chart”.
It is a demo account, the balance is replenished with virtual $ 100,000, which you can use to practice making forecasts of price movements, selling and buying. As long as you do not have a single broker connected, when you go to the trading panel, you will have a choice of brokers, among which you can choose Paper Trading – a demo account from TradingVeiw.
So far, there is no real trade right here on the site, but let’s hope that it will be implemented in the near future.
Here you can view current positions, orders, create a new order or set up trading by right-clicking, or disconnect from the trading panel.
Here you can also track the history of your orders – keep a diary of transactions, view the account status and receive notifications on orders.
And it is here, if you click on the gear, you can display or hide the buy / sell panel (remember, at the beginning of the article, I promised you to reveal this secret, over which many novice traders are racking their brains?), A detailed order panel, order book. Here you can also reset the demo account balance – return lost demo money, set up trading, study trading instructions and choose another broker..
Trading here is very simple, click “Buy” or “Sell” and fill out the application form:
- “Market” is a market order. The lot size, TakeProfit and StopLoss values are indicated here. Upon reaching them, the order is executed;
- “Limit” and “Stop” is a pending order. Here you can fill in the order price, absolute and in ticks, and you can also select the order validity period. Those. in this case, you can specify the price parameters at which it should start executing and at which it stops buying / selling in order to limit risks and losses.
To test a strategy, it must be on the chart. To do this, we can use the ready-made one in the “Indicators and Strategies” section or write our own in the Pine editor. Consider the example of the popular Bollinger Bands:
Here it appears on the chart, you can see the entries and exits of the trade, and in the “Strategy Tester” menu:
Now we can configure and test it here as we like. The menu allows you to set arguments, change properties: currency, initial capital, order volume, etc., edit the strategy source code to suit your needs, and much more:
That’s all. Our review of the TradingVeiw chart, its useful tools for the trader and the platform’s capabilities in general has come to an end. To make it complete and complete, I would like to briefly dwell separately on the personal account menu, because we have not touched on it in any of the articles. And its capabilities are also wide and deserve special attention..
Here you can quickly navigate to all your ideas, scripts, view your account status and pay for paid subscriptions, as well as all your subscribers and those you subscribed to. The personal account, like everything else in TradingView, is distinguished by its convenience and simplicity.
There are two ways to trade using the TradingView live chart:
- monitor information, compare it with the broker’s data, make predictions, study traders’ ideas and train here at TradingView, and trade on the site of your broker;
- use third-party resources that offer a “TradingView” chart “embedded” into your platform with all the possibilities and even more. You can use it on more favorable terms. If you trade in cryptocurrency, then the 3commas.io service is for you
Here you can not only use all the possibilities of the “TradingView” live chart, but also use other chips. I wrote about them in previous articles, this is the ability to use TradingView advisors for activated signals, robots for alerts set on TradingView, and many other features. In addition, the service has so many training materials for beginners that it is much easier and faster to get acquainted with the capabilities of the service. I recommend!
In new articles, I will introduce you to the capabilities of a platform like Binance.com. Most likely, you have already heard about it, because it is one of the largest cryptocurrency exchanges, with a lot of tools and advantages that I personally use with pleasure. From my point of view, it deserves attention. And why you need it – you will find out in my next publications! See you soon!
Good luck and good profits!