Is TradingView Worth It
TradingView is a powerful technical analysis platform, but is it worth the fee? Continue reading to find out.
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TradingView has established itself as your go-to charting platform. Many traders use it for technical analysis before placing an order.
You can already use TradingView for free, so is it still advisable to subscribe to its paid plans?
Read on to discover if a TradingView subscription is worth it or not.
Is TradingView Subscription Worth It?
Yes, subscribing to one of TradingView's paid plans can be worth it. However, it ultimately depends on what kind of trader you are.
Traders who heavily rely on technical analysis will surely find TradingView's paid features beneficial, especially the intraday charts, auto-chart patterns, and bar replay.
Compared to the basic plan, you get more chart layouts, indicators per chart, historical bars, price alerts, and technical alerts.
However, most of the really good features are paywalled until the TradingView Premium plan, which costs $599.40/year or $59.95/month.
This might be a minuscule fee for a trader with a large account but could be unfit for a small account trader, a beginner, or a fundamental analysis trader.
What Is TradingView?
Founded in 2011, TradingView is an investment analysis charting platform that makes trading tools accessible to all traders.
It's also a social community where traders of all levels get to connect with and learn from each other.
At TradingView, traders can share their live charts and technical analysis insights with one another.
Yes, TradingView is free in the US. TradingView's Basic plan is free in all countries. With the free version, you get access to all trading tools and can use one chart layout, 2 indicators per chart, and 5 price alerts.
Pricing
There are 3 paid plans in TradingView for you to choose from.[1]
With a Basic or Free plan, you already get decent charting features such as 2 indicators per chart, 5 price alerts, and 5,000 historical bars. Although, you'll get some ads.
However, with a paid plan, you can enjoy more, as seen here:
| Essential | Plus | Premium | |
|---|---|---|---|
| Price | $14.95/month or $$155.40/year | $29.95/month or $299.40/year | $59.95/month or $599.40/year |
| Charts Layout | 2 | 4 | 8 |
| Indicators per chart | 5 | 10 | 25 |
| Historical Bars | 10,000 | 10,000 | 20,000 |
| Price Alerts | 20 | 100 | 400 |
| Technical Alerts | 20 | 100 | 400 |
| Parallel Chart Connections | 10 | 20 | 50 |
| Ads | No | No | No |
Key Features
You get all these features with TradingView's paid plans:
- Charts
View 2 or more charts at the same time with TradingView's paid plans. This is a useful tool for multi-timeframe analysis. - Trading Tools
You can choose from hundreds of trading indicators and over 110 drawing tools. TradingView offers standard indicators such as the Moving Averages, volume indicators such as the Volume Profile, and auto-trend lines for Fibonacci retracements. - Alerts
Get notified as the price of the asset moves toward your entry or exit target. Depending on the plan, you can set up to 400 alerts based on price, indicator, drawing, or strategy. - Screeners
TradingView offers stock, forex, ETF, crypto pairs, and crypto coins screeners. You can use the screeners to filter the market based on your chosen parameters. - Community
You get to be a part of an active community of 60 million traders and investors. There are group chats based on the market that you trade in. - Market News and Data
TradingView has a News feature that streams the latest news from media outlets such as Reuters, Dow Jones Newswires, and InvestorPlace. - Educational Content
You get live streams of educational content and trade ideas from the community. There are videos that you can watch if you want to learn more about a trading strategy or a trading style. - Broker Integration
TradingView has over 50 brokerage connections: OANDA, FOREX.com, Interactive Brokers, Webull, TradeStation, Tradovate, StoneX, Gemini, and more.
Now, which of the 3 TradingView plans should you choose?
TradingView Plus vs Essential vs Premium
Here's a quick summary of the trading tools offered in TradingView Plus, TradingView Essential, and TradingView Premium:
| Essential | Plus | Premium | |
|---|---|---|---|
| Custom timeframes | ✔ | ✔ | ✔ |
| Volume profile | ✔ | ✔ | ✔ |
| Custom range bars | ✔ | ✔ | ✔ |
| Multiple watchlists | ✔ | ✔ | ✔ |
| Indicators on indicators | ✔ | ✔ | ✔ |
| Bar replay | ✔ | ✔ | ✔ |
| Chart data export | ✗ | ✔ | ✔ |
| Intraday Renko, Kagi, Line Break, Point, and Figure Charts | ✗ | ✔ | ✔ |
| Charts based on custom formula | ✗ | ✔ | ✔ |
| Auto-chart patterns | ✗ | ✗ | ✔ |
| Second-based alerts | ✗ | ✗ | ✔ |
| Non expiring alerts | ✗ | ✗ | ✔ |
| Second based intervals | ✗ | ✗ | ✔ |
All plans will give you access to useful trading tools such as bar replay, custom timeframes, indicators on indicators, etc.
Certain charts such as Intraday Renko, Kagi, Line Break, Point, and Figure Charts are limited to the Plus and Premium plans.
Chart data export and custom formula charts are also not included in the Essential plan but are available in the Plus plan.
TradingView Premium has all the features of Plus with the following added features: auto-chart patterns, second-based alerts, non-expiring alerts, and second-based intervals.
User Testimonies
TradingView has received both good and bad reviews from its users in Trustpilot. Here are some of those testimonies:
Frequently Asked Questions
- Do professional traders use TradingView?
Yes, professional traders use TradingView. It is used by experts and beginners alike. TradingView is a commonly used platform for analyzing charts. - Can you really make money from TradingView?
You can make money on TradingView through its affiliate program. You can earn cash for every user who subscribes to TradingView through your affiliate link. - Can you actually trade on TradingView?
For selected brokers, you can trade directly on TradingView. Not all brokers are integrated with TradingView. That's why trading directly on TradingView depends on which broker you use.
Bottom Line
TradingView is worth the subscription fee if you're a technical analysis trader. This is particularly worth it if you do multi-timeframe analysis as part of your trading strategy.
However, it is worth noting that the free plan is already sufficient to make an analysis of the chart. So you may want to try out the plan's free trial first before making a commitment.
References
- ^ TradingView. TradingView Subscriptions, Retrieved 05/23/2024
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