Embarking on Your TradingView Journey: A Powerful Charting Tool for Traders

For the community of traders passionate about technical analysis, a comprehensive and user-friendly charting tool is crucial. Whether you're a newcomer to the financial markets or a seasoned veteran, among numerous options, TradingView stands out with its exceptional functionality and wide applicability. Unlike expensive Bloomberg terminals tailored for professional investors, TradingView offers a free membership option, lowering the barrier to entry and making this powerful tool accessible to more users.


Specifically, on the LBank trading platform, we have integrated TradingView into our system, allowing platform users to directly enjoy rich chart analysis services. However, beginners may feel overwhelmed by the plethora of tools and chart types available. To address this, we have specially prepared the "Beginner's Guide to TradingView" to help you gradually understand and master the various functions and operation processes of TradingView, enabling you to navigate market trends and technical analysis with confidence rather than confusion.


The following article will introduce TradingView's core features in an easy-to-understand manner, guiding you on how to customize charts and use strategy and alert functions to help you make more precise and effective decisions in the financial markets.

Exploring the Core Features of TradingView

TradingView is not just a charting tool; it's a comprehensive financial market analysis platform. Users can customize technical indicators on this browser-based platform, which means traders can adjust and create unique analysis models according to their needs. These models encompass various trend lines, pattern analysis, and other technical analysis tools commonly used by traders.


The strength of TradingView lies in its cross-platform compatibility. Whether on desktop or mobile, users can access the platform directly through a browser or download the iOS and Android apps for on-the-go market observation and analysis. Since its establishment in Westerville, Ohio, USA, in 2011, TradingView has amassed a large user base, with 8 million new accounts added in 2020, highlighting its popularity among global traders.


The platform supports in-depth chart analysis of multiple financial assets, including stocks, commodities, and cryptocurrencies (such as Bitcoin). Users can access some features for free and unlock more advanced services by choosing a paid account. One highlight of TradingView is its community function, where users can develop strategies and create personalized templates to share their analysis results within the community. This not only allows members to provide opinions and feedback but also enhances trading skills and market insight through interactive communication.

TradingView Application on LBank Exchange Platform

On the LBank exchange platform, the TradingView tool is seamlessly integrated into the user interface, providing traders with a one-stop service experience. Users no longer need to switch to other websites or platforms; they can directly utilize TradingView's powerful features to create and analyze charts while performing real-time trading operations within LBank. The toolbar on the left is designed consistent with the official TradingView website, ensuring that users can easily get started and make a smooth transition.


To help beginners quickly master how to efficiently use the TradingView tool within LBank's web page, we have specially written a tutorial titled "How to Use the TradingView Tool on LBank's Webpage." This tutorial provides detailed explanations of specific usage methods and steps for each function, allowing you to quickly understand and familiarize yourself with this interface and apply it to your actual trading strategy development.

Pricing Strategy and Account Types of TradingView

TradingView has attracted numerous users with its affordable pricing strategy, offering a free version for everyone and paid subscription packages tailored to different needs. For beginners, the free account on TradingView is sufficient to meet basic charting and indicator analysis requirements, including one chart and three custom technical indicators. Although the free account contains ads, their frequency is moderate and does not significantly impact users' experience.


Moreover, TradingView provides multi-tiered premium subscription services that allow users to increase the number of charts, unlock more advanced features, and enjoy an ad-free experience based on their needs. Specific price information can be found in the detailed list of various packages shown below. Users can choose the most suitable account type based on their individual trading habits and level of professionalism. Through this flexible pricing model, TradingView ensures that both entry-level traders and professional investors can find appropriate and efficient tools on the platform.

Exploring the Social Network Functionality of TradingView

TradingView is not just a financial chart analysis tool, it also builds an active social network for traders. This social feature is similar to the like and share mechanism on Instagram, where users can showcase and exchange their trading strategies, and get advice and feedback from others.


On the TradingView platform, the "Ideas" page plays a central role in information sharing and interaction. Here, charts, videos, and in-depth comments from traders around the world are gathered, providing rich learning resources for beginners. Community members can communicate in real-time by participating in discussions or joining chat rooms. However, it's worth noting that although everyone can express their opinions, each trader's style and strategy vary, so these personal insights should not be adopted as authoritative financial advice.


In addition, TradingView is exploring the live streaming function, allowing users to watch other traders create and interpret charts in real-time, just like watching game streams on Twitch. Although this innovative feature is still in the testing stage with limited content, it undoubtedly adds new vitality and possibilities to the TradingView social network, making the process of learning trading knowledge more vivid and intuitive.

Exploring the TradingView User Interface

The user interface of TradingView balances professionalism and ease-of-use, making it beginner-friendly. For clarity, we'll divide the main areas into the toolbar, chart type selector, trade panel, information & social section, and the main chart area.


Firstly, the toolbar sits atop the chart and includes a wealth of drawing and analytical tools, ranging from basic data line plotting to complex long-short position marking. Right-clicking on a tool icon reveals its extended options. While some advanced features might be challenging for newcomers, the default tools provided should suffice for everyday basic needs.


Secondly, on the left side of the interface is the chart type switcher and asset search area. Users can choose different chart forms such as candlestick charts, line charts, or area charts based on preference and easily change the financial assets they're monitoring through the search bar. Notably, the "Indicators & Strategies" button serves as a powerful feature entrance, allowing users to insert predefined technical analysis patterns like moving averages and Relative Strength Index (RSI).


When it comes to trading platforms, while TradingView itself doesn't offer brokerage services, it integrates a "Trade Panel" tab that enables users to directly execute trade operations with partnering brokers within the website. After opening an account with the relevant company, you can use this function to place buy or sell orders. Additionally, the "Strategy Tester" feature provides investors with a backtesting platform to help them evaluate and optimize their trading strategies.


Next, TradingView's social and information module includes real-time news updates, personalized watchlist management, private messaging, idea sharing, live streaming, and an integrated calendar system to keep track of market events and important happenings.


Lastly, the main chart area is the epicenter of all interactions, where users can switch between viewed assets, analyze charts using various tools, or place technical indicators with highly customizable settings. In later chapters, we'll delve deeper into how to customize TradingView charts personally, as well as effectively utilize chart tools for trendline drawing, fork line analysis, and setting up trading strategies and alert functions.

Customized TradingView Charts

In TradingView, each trader can personalize chart settings according to their trading habits and visual preferences. The process is highly intuitive and straightforward - simply right-click on the chart area, select "Settings," and a window with a wealth of options called "Chart Settings" will open.


Firstly, in the "Product Code" section, users can customize the color of the candlestick chart, including the line colors for opening price, highest price, lowest price, and closing price. This helps quickly identify key points of price fluctuations and makes the chart more consistent with individual reading habits.


Secondly, by adjusting the content displayed in the "Status Bar," you can decide whether or not to show OHLC data and essential information such as buy and sell buttons in the top-left information bar. For example, you can clearly see the current quote range, with red boxes indicating the lowest bid and blue boxes showing the highest ask. The difference between these two values represents the bid-ask spread.


In the "Coordinates" area, you can specify the indicator type that the right axis tracks, such as adding marks for the day's high and low prices, or even setting countdowns for bar closes, among other advanced features.


The "Appearance" option allows you to change gridline styles, background colors, coordinate axes design, and other interface elements to ensure the overall visual appeal of the chart is both aesthetic and practical.


If you have connected a broker account, the "Trade" settings help you customize visual cues related to trading, optimizing the order experience.


Additionally, the "Events" setting lets you choose whether to annotate dividends, splits, and other significant company events on the chart to better grasp market dynamics.


Regarding time intervals, clicking the button farthest to the left on the top bar displays a list of different time units ranging from seconds to months. You can switch between various timeframes to analyze asset movements and bookmark frequently used intervals for quick access.


Finally, one of TradingView's standout features is its auto-save mechanism. Regardless of how much you modify chart configurations, the system saves all your editing content in real-time, ensuring that no personalized settings are lost upon logout and subsequent login. This makes TradingView a genuinely flexible and highly personalized chart tool catering to the needs of various traders.

Mastering Trend Line Drawing Techniques in TradingView

In TradingView, trend lines serve as the foundation for beginners to analyze price action. In this section, we will delve into an easy-to-understand introduction on how to draw trend lines in TradingView and discuss their applications in trading strategies.


Firstly, open a chart and select the line tool from the left toolbar. To enhance the accuracy of drawing, enable the Snap to Data function, which automatically attaches to OHLC (Open, High, Low, Close) data points on the candlestick chart, ensuring that the drawn trend lines more closely follow the actual market movement.


When drawing a downtrend line, we need to find a series of consecutive local highs (i.e., "swing highs"), such as points 1, 2, and 3. Starting from the first significant high point, click your mouse to choose where the line starts, then try to make the line pass through as many adjacent highs as possible, and finally click the mouse again to end the line drawing process. Note that at least three points are required to determine a valid trend line; two points may just be a coincidental overlap and have no reference value. When the price breaks through the original trend line (as shown at point 4), it usually indicates that the previous trend might change, and therefore, it is time to consider redrawing a new trend line.


Similarly, to identify an uptrend, you need to select a series of consecutive local lows as the starting point for the line, making the drawn trend line lie below the candlestick chart.


After drawing trend lines, traders can formulate corresponding trading strategies based on the information they provide. For instance, during a downtrend, when the price touches and tests the trend line, traders may opt to sell. Conversely, during an uptrend, they may look for buying opportunities when the price approaches the support level of the trend line.

Mastering Fork Line Drawing and Application in TradingView

Fork lines, as an extension of the trend line concept, provide traders with more refined and abundant market insights on TradingView's chart analysis tools. This technical indicator was created by investment master Alan Andrew and reveals potential support, resistance, and price targets through its unique graphical construction method.


To draw a fork line, first select the fork line tool from the left toolbar. Unlike simple two-point linear trend lines, fork lines require selecting three key points to build. The specific steps are as follows:


1. Identify the first significant low point (Point 1) in a downtrend, which serves as the starting point for the fork formation.


2. Then find the high point (Point 2) in an uptrend, marking a reversal and forming the upper boundary of the fork, i.e., the resistance level.


3. Next, determine another low point (Point 3) in the next downtrend, which will decide the lower boundary of the fork, i.e., the support level.


When these points are connected, we get a fork shape. Among them, the top line extended from Point 2 indicates a possible price rebound position, while the bottom line extended from Point 3 suggests a potential pullback support area. The middle line is usually considered a critical point where price tendencies converge.


When using fork lines, traders can combine support lines to look for buying opportunities and judge selling times based on resistance lines. At the same time, stop-loss orders can be set below the support line to achieve risk management. However, like other technical indicators, fork lines do not guarantee absolute accuracy. It is recommended to combine other technical analysis methods and trading strategies for comprehensive judgment to effectively reduce risks.

Uncovering the Power of TradingView's Strategy and Alert Features

In the process of trading analysis, formulating and executing effective trading strategies are paramount. TradingView offers robust strategy building and real-time alert capabilities to help traders stay on top of market dynamics and act promptly.


Firstly, TradingView incorporates a built-in script editor enabling users to create custom technical indicators, trading strategies, and backtesting systems using the programming language PineScript. Whether it's a simple moving average crossover strategy or a complex multi-indicator judgment, these can be achieved through scripting and results displayed directly on charts for more intuitive and precise decision-making.


Moreover, TradingView's alert functionality grants traders the ability to monitor price movements in real-time. Users can set various types of alerts based on their needs, such as triggering an alert when prices reach a certain level or reminding when a specific technical indicator meets predefined conditions. These alerts can be pushed via web notifications, sent via email, or delivered through SMS, ensuring that market dynamics are swiftly captured even when offline.


For instance, a trader can set up a buy alert when Bitcoin breaches its 50-day moving average or a sell signal when the MACD indicator exhibits a golden cross. Once preset conditions are met, TradingView will immediately notify the user, allowing them to respond quickly and execute corresponding trade actions.

An Analysis of TradingView's Strengths, Weaknesses, and User Experience Considerations

TradingView is a widely popular financial chart analysis platform with numerous advantageous features and unique services. Its HTML5 chart technology ensures that users can access real-time charts seamlessly on various devices through web browsers without the need to download or install any software, providing great convenience for traders.


For beginners and general users, one standout aspect of TradingView is that most functions are available for free use, significantly lowering the technical threshold for investors entering the market. In particular, its server-side alert system allows users to receive timely notifications about price changes even when they're not on the platform, ensuring they don't miss crucial trading opportunities.


Not only does TradingView integrate with platforms like LBank, enabling users to directly call up TradingView charts for cryptocurrency buying and selling within the trading interface, but it also supports custom indicator development. Advanced users can create and save their personalized strategy indicators using the Pine Script programming language to meet individualized trading needs.


Furthermore, TradingView boasts an extensive asset selection range, covering various investment vehicles such as stocks, securities, commodities, and foreign exchange. It also features powerful backtesting capabilities, allowing users to verify their strategies with historical data and optimize their trading decisions.


However, there are areas where TradingView could improve. For instance, while the concept of live streaming and sharing opinions in the community is appealing, the quality of content varies greatly, and some more speculative suggestions might mislead novice users. Additionally, controversial viewpoints occasionally appearing in the comment section may cause confusion among users.


Customer service is another point of criticism for TradingView; currently, only paid subscribers can report issues and receive support from customer service, leaving free users unable to get satisfactory answers and assistance. Moreover, although TradingView integrates multiple brokers and trading platforms, the available options are relatively limited.


Regarding data sources, some U.S. stock prices displayed on TradingView do not come directly from relevant stock markets but are provided via Cboe BZX Exchange, meaning there may be slight price differences. Furthermore, real-time data from the trading platform requires an additional fee for purchase. Users should exercise caution when referring to TradingView charts and cross-verify information with other reliable data sources.

Conclusion

In summary, TradingView, as a powerful charting tool widely used by global traders, has demonstrated unparalleled advantages in the field of financial market analysis. From usability to functionality, TradingView provides comprehensive support for traders of different levels, including but not limited to a rich variety of chart types, customizable technical indicators, cross-platform compatibility, and real-time alert functions. The integrated application on the LBank trading platform further reduces the learning curve for users, allowing traders to complete in-depth analysis and instant trading on one interface.


Looking forward, with the continuous deepening and innovation of TradingView's social networking functions, such as the testing and promotion of live broadcast functions, and the ongoing optimization of user experience, we have every reason to believe that TradingView will continue to lead the trend in the trading community, helping more traders enhance their market insights and trading strategy formulation capabilities.