Trading Drawing: How To Use TradingView Drawing Tools?
TradingView is a multifaceted platform that combines online trading, drawing, and charting functionalities with social networking capabilities, making it truly unique.
The topic of the article is “Trading drawing tools of TradingView.” However, it is important to gather more information about the platform mentioned above.
They launched the abovementioned platform more than ten years ago, in 2011. The company’s location is in Ohio, USA.
Nowadays, TradingView stands as a top-tier platform globally. This platform has truly transformed the financial sector.
The platform, which originates from Ohio, impressively showcases its versatility and allows users to tailor it to their preferences. What’s particularly noteworthy is its cross-platform compatibility.
Whether you’re on Android, iOS, Linux, or Windows, TradingView seamlessly integrates across various devices. It’s not limited to computers but extends to smartphones and iPads. This adaptability ensures that your financial charts are accessible with just a tap, no matter where you are.
How to use TradingView?
There are plenty of questions like, “Is it hard to use TradingView?” “How to use TradingView?”
Here’s a basic guide on how to use TradingView:
- Create an account: Visit the TradingView website (https://www.tradingview.com/) and sign up for a free account, or choose a paid plan if you need advanced features.
- Log in: Log in to your TradingView account using your credentials.
- Setting up your workspace: After you log in, the system will take you to the main charting workspace. TradingView allows you to personalize and organize your charts, watchlists, and tools to suit your preferences.
Creating a chart:
- To create a new chart, click the “Chart” tab in the top left corner.
- Select the trading instrument you want to analyze (e.g., a stock, cryptocurrency, forex pair) by typing its symbol in the search bar or by selecting from your watchlist.
Customizing the chart:
- You can customize the chart by adding technical indicators, drawing tools, and other features from the toolbar on the left.
- To add indicators, click on the “Indicators” button and search for the one you want to use.
How to Add Another Chart on TradingView?
To use multi-chart mode, follow these steps:
- Click the “Select Layout” button on the toolbar above your chart.
- Choose the desired chart setup.
Is TradingView Free?
TradingView has free and premium plans with different features and data access for users to choose from. The free plan offers basic tools and data. It is a great starting point for beginners or those who want to try out the platform.
With the free plan, users can try out different indicators, drawing tools, and chart options. This allows them to analyze market trends and make intelligent trading decisions.
However, for those seeking more advanced features and a wider range of data, upgrading to a premium plan is worth considering. The premium plans offer additional tools and functionalities that can enhance the trading experience. These advanced features may include access to real-time data, more technical indicators, advanced drawing tools, and the ability to set up custom alerts and notifications.
Upgrade to a premium plan for traders to access more market information and gain a competitive advantage. This is good for traders who need accurate and timely data to make quick decisions in fast markets.
Furthermore, premium plans often come with additional perks such as priority customer support, faster data streaming, and the ability to save and share customized chart layouts. These added benefits can greatly improve the overall trading experience and provide users with a more efficient and personalized platform.
Getting Started With TradingView
It is recommended to try out the TradingView platform with the free plan initially to get a feel for its features and functionality. This allows users to familiarize themselves with the platform and determine if it meets their trading needs.
Users can upgrade to a premium plan once they are familiar and skilled with the platform. This upgrade will provide them with advanced features and data access. By utilizing these features and data, users can improve their trading strategies.
Additionally, TradingView offers a vast library of educational content and tutorials to help you make the most of the platform.
Why Is TradingView So Captivating?
TradingView is a thriving platform with a global reach. It stands out by offering its website in multiple languages, including Chinese, Turkish, Spanish, Portuguese, and more.
But TradingView is more than just a versatile platform; it’s also the largest social network for traders and investors. Here, millions of traders come together to discuss various topics. In this vibrant community, users are ranked, providing valuable insights from the most popular traders and their strategies.
Competing with TradingView
Even for competitors like Robinhood and TD Ameritrade, challenging TradingView is no easy feat.
It’s worth mentioning that this highly adaptable platform boasts a multitude of features.
The platform offers a free tier. Let’s examine the account that is available at no cost, which encompasses the following features:
- 12 customizable chart styles
- Over 100,000 indicators developed by the community
- Access to all charts and indicators
The features listed above are just a fraction of the total features available.
However, if you’re a frequent user of the platform, it’s advisable to upgrade to a Pro account. The Pro account unleashes the full potential of the tool.
TradingView is a platform designed with the user in mind. Undeniably, the technology that powers the platform is what truly makes it user-friendly, speedy, and responsive. HTML5 powers the technology behind TradingView.
Trading Drawing Tools
Let’s explore how to use drawing tools on TradingView with ease:
- Begin by opening a TradingView chart.
- Locate the tool panel on the left side.
- Choose the drawing tool you want and open its subgroup.
- Now, in the fourth step, you have two options. You can either click and hold while dragging to create your drawing or simply click to place it.
- Remember to click on the area of the chart where you want to add the drawing.
- To lock the starting point, hold it. Then, drag to expand your drawing. Release the hold to finish.
- Feel free to customize your drawing tools, including changing their colours.
With these steps, you’ll be well-prepared to tackle any questions about using trading drawing tools in TradingView.
