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Top 7 Unique TradingView Features to Benefit Traders
Trading is a dynamic world where decisions are made in the blink of an eye, and the right tools can make all the difference. TradingView is a popular platform that has gained a strong following among traders and investors. It offers a wide range of features. Whether you are a seasoned pro or just starting, this platform has something to offer. Know about 7 unique features of TradingView that can benefit traders significantly.
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Top 7 Unique TradingView Features to Benefit Traders
These are:
1. Multi timeframe settings
This feature can be useful for you in many ways, such as:
a) Selecting a Comfortable Layout
– Locate the ‘Select Layout’ option at the top right corner of the TradingView interface.
– Click on it to reveal a dropdown menu of layout options.
– Choose a layout that suits your preferences and trading style.
b) Changing Time Frames Across Three Periods
– To adjust the time frames across different periods, first, click on the chart itself.
– As you do so, the chart will be highlighted, and a blue border will appear around it.
– Look for the option to change the time frequency, typically indicated by a red arrow.
– Select your desired time frame from the available options.
This setup allows you to view price behavior across all selected time periods simultaneously.
c) Utilizing the Crosshair Tool
– With the multi-time frame layout in place, you can use the crosshair tool effectively.
– Hover the crosshair over a specific price point on the chart.
– The selected price point will simultaneously appear across all the time frames displayed.
This feature aids in gaining a comprehensive perspective on price action across various time frames.
d) Focusing on a Specific Chart
– If you wish to concentrate on one particular chart out of the three displayed in the layout, use the toggle button located at the right bottom corner.
– Click on this button to expand the chosen chart, making it more prominent and easier to focus on.
e) Annotating and Making Notes
– The TradingView platform offers the option to annotate and make notes on the chart.
– You can add comments, draw shapes, and mark important price levels. Furthermore, you have the flexibility to make these annotations visible on only the desired time frame.
By following these steps and utilizing these features, you can enhance your trading experience on TradingView, gaining valuable insights into price movements across multiple time frames while customizing your charts to suit your needs.
Do not miss out our useful post on TradingView Charts: What are the Different Types?.
2. Undo-Redo
This feature is not only enjoyable but also highly practical. Often, charts can become cluttered with incorrectly placed trend lines and indicators.
In most other trading platforms, removing these errors usually involves selecting the trend line or indicator and deleting it manually. However, with TradingView, you can achieve this with a simple click. It’s worth noting that the undo function in TradingView only reverts the most recent action.
3. Visibility
Another remarkable feature within TradingView is its visibility settings, which allow you to control the display of specific drawings or trend lines according to your chosen time period.
You can avail a unique feature in this platform where you can lock a study to a specific time frame, ensuring that it remains visible only within that designated period.
For example, if you want a particular study to be visible exclusively on an end-of-day chart, you can set it accordingly.
Consequently, when you switch to a different time frequency, this study will not show up, maintaining clarity and relevance in your analysis.
4. Go-to date
Sometimes you may face situations where you need to examine the behavior of stock prices at a specific time on a particular date.
Typically, you would have to sift through various charts. After several attempts and adjustments, you would pinpoint the exact date. However, with TradingView there is no longer such inconvenience thanks to its ‘Go-to’ feature.
This dynamic feature can guide you directly to the precise candle, even on an intraday basis. This tool is readily available at the very bottom of the chart.
5. HD images
At times, you may generate an informative chart after extensive research and wish to share this via messaging apps or Twitter. The common practice of capturing a screenshot can often compromise the quality of the image, detracting from its readability and appeal. A solution to avoid poor quality is to produce high-resolution images of your chart specifically on TradingView.
To obtain a high-quality image, simply press ‘Alt + S’. This will prompt the option to either save the image or directly share it on Twitter.
6. Customizable charts
One of the standout features of TradingView is its highly customizable charts. Traders can tailor their charts to their specific needs, adjusting timeframes, chart types, and overlays with ease.
The platform also provides access to a vast library of technical indicators, allowing traders to fine-tune their analysis. Whether you are a fan of moving averages, Bollinger Bands, or RSI, you will find them all here.
Customizable charts and indicators empower traders to develop unique trading strategies and adapt to changing market conditions.
7. Pine Script Programming Language
For traders who want to take customization to the next level, TradingView offers the Pine Script programming language. Pine Script allows you to create your own custom indicators and strategies.
This feature is a game-changer for traders who have specific trading algorithms in mind.
Whether you are a seasoned coder or a beginner, TradingView’s Pine Script editor makes it accessible for all levels of expertise. It is a powerful tool to turn your trading ideas into reality.
Go through our informative post on TradingView Charts: How Can New Traders Use it Like a Pro?
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Conclusion
The unique features of TradingView cater to traders of all levels and styles, and make it a powerful tool in the trader’s arsenal. Whether you are a day trader, swing trader, or investor, it provides the tools you need to stay ahead in the competitive world of trading. Explore these features, harness their potential, and elevate your trading game with TradingView.
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