TradingView: your workspace
Lesson 22 of 23 in the course “Technical Analysis”. Free, with animations and a quiz.
Setting up the screen
TradingView is the most popular charting service, used by traders worldwide, and it has almost any market: crypto, stocks, currencies, gold. Start simple: a candle chart, volume and one indicator. Draw levels and the trend on the weekly and daily, and look for the entry on the 4-hour and 1-hour. Save the finished layout as a template so you don’t rebuild it each time.
The free plan is enough
On the free Basic plan you can add 2 indicators to one chart. The paid Essential, Plus and Premium give 5, 10 and 25. For this course the free plan is enough: volume plus RSI or an EMA is already a working set, and levels, lines, Fibonacci and waves can be drawn without limits. Check current terms on TradingView’s site: plans change from time to time.
Hotkeys
Five keys that save a ton of time. Alt+H: a horizontal line for a level. Alt+T: a trend line. Alt+F: Fib retracement. Alt+V: a vertical line, handy for marking a news day. Alt+C: the cross line. On a Mac press Option instead of Alt.
Tools and the magnet
All drawing tools live on the left toolbar. The patterns group has ready-made Elliott waves: impulse 1-2-3-4-5, correction A-B-C and a triangle; you place them by clicking the turning points. Turn on the magnet: points stick to candle prices by themselves, like in our trainers. And you can put an alert on any line, so TradingView pings you when price gets there: no need to sit at the screen.
Check yourself
- How many indicators can you add to one chart on TradingView’s free plan?
Correct answer: 2. Basic allows 2 indicators per chart. So pick what matters: usually volume and one more. - Which key draws a horizontal line for a level?
Correct answer: Alt + H. H is for horizontal. Alt+F is Fibonacci, Alt+T is a trend line. - Why put an alert on a level?
Correct answer: So you don’t sit at the chart and show up when price reaches the zone. A TradingView alert only tells you about the price. You still make the trade decision, by your plan.