TradingView Review

TradingView is a leading technical analysis platform. But is it worth the subscription fee? Read on to find out.

TradingView is a premier platform that offers charting tools and a social network for traders and investors. Its subscription plans offer a wide range of features that can help you find profitable trading opportunities.

However, a lot of these features are offered in the free plan. So, would a monthly subscription be worth it?

In this review, learn about the key features along with the pros and cons of TradingView's Plus plan and see if a subscription would fit your needs.

What Is TradingView?

TradingView is a market-leading technical analysis charting platform used by more than 60 million traders and investors.

It offers a wide range of trading tools and allows the trading of various assets. It also has an active community of traders with whom you can exchange trading ideas.

Who Is TradingView Best For?

TradingView is best for:

• Traders who rely on technical analysis
  
• Beginner traders who want to study the charts
  
• Traders who want to backtest a strategy
  
• Traders who are looking for a trading community
  
• Investors who want to know the best point of entry

Who Should Skip TradingView?

If you're a trader or investor who primarily relies on fundamental analysis, you should probably skip TradingView. You won't benefit from a lot of the tools it offers.

You should also skip TradingView if you're a long-term investor. You might not need the advanced charting and real-time data that TradingView offers.

Pros and Cons

Pros

• Key features are offered free on its Basic plan
  
• Has an active trading community
  
• Paid plans have a 1-month free trial

Cons

• Trading alerts are sometimes not sent on mobile
  
• There is a delay of a few seconds in the market movement

Pricing

TradingView offers a Basic plan that offers 1 chart layout per screen, 2 technical indicators per chart, and 5 price alerts. It also includes drawing tools, watch lists, and market news. This plan is free, but it also has ads.

Unfortunately, TradingView's free plan doesn't offer Volume Profile indicators, Custom Range bars, and Custom timeframes.

Here's a breakdown of their three paid plans (Essential, Plus, and Premium):^[1]

Are TradingView's Paid Plans Worth it?

Yes, TradingView's paid plans are worth it if you're an active trader who relies on technical analysis. They can give you a quick view of a price chart across up to 8 timeframes on a single screen.

They also offer up to 25 indicators per chart, which is a significant increase from the 2 allowed in the Basic plan. This could help traders who rely on multiple indicators to make investment decisions.

With the paid plans, you can set up to 400 price and technical alerts compared to the 5 price alerts you're allowed in the Basic plan.

All of these extra tools at your disposal could earn you back the subscription cost in no time.

Key Features of TradingView's Paid Plans

TradingView has one of the most comprehensive trading functionalities among all trading analysis platforms. You can actually do sufficient trading analysis through its free features alone.

However, paid plans are best if you want to use multiple charts and timeframes, more alerts and indicators, custom time intervals, real-time market data, data exports, and trading community involvement.

Charts

One primary difference between the free plan and the paid plan is the number of charts that can be opened on a single screen. TradingView's free plan lets you open one chart, while its paid plans allow up to 8 open charts simultaneously.

Being able to open multiple charts on a single screen is extremely beneficial if you're doing multi-timeframe analysis. With one look, you can see the trend across different timeframes.

Each opened chart can have varied timeframes and indicators. You can also customize the timeframes and range bars with all the paid plans.

If you want to export chart data, you can do it with the Plus and Premium plans. This can be useful if you're analyzing charts on external software.

Trading Tools

TradingView's free plan offers most of the trading tools that are on the paid plans. The only difference is the number of indicators you can use on a single chart.

The free plan allows only 2 technical indicators in a chart, while the paid plans offer up to 25 per chart. You can also replay market performance for backtesting strategies.

With the paid plans, you can choose from hundreds of trading indicators and over 110 drawing tools. TradingView offers standard indicators such as the Moving Averages, volume indicators like the Volume Profile, and auto-trend lines for Fibonacci retracements.

You can also code your own custom indicators using TradingView's scripting language.

Alerts

TradingView's paid plans offer up to 400 price and technical alerts. These can be set on a certain price or a specific indicator, drawing, or trading strategy. This way, you can monitor the charts without having to stare at your screen all day.

You will be notified through visual pop-ups, push notifications, emails, or SMS if the alert is triggered.

Screeners

TradingView offers stock, forex, ETF, crypto pairs, and crypto coins screeners. You can use them to filter the market based on your chosen parameters like income statement details, performance, dividends, valuation, margins, or oscillators.

You can use these screeners on the common chart timeframes, which you can also add alerts for.

Fundamental Data

You'll like this feature if you use fundamental data alongside your technical analysis. TradingView offers a visualization of fundamental data from balance sheets and income statements on a chart.

When you open a stock chart, you can add figures like revenue or dividend yield to a chart window. This lets you analyze market performance after company news or earnings announcements.

Community

TradingView brings you into an active community of more than 60 million traders and investors. This gives you the opportunity to ask questions, share trading ideas, or discuss the latest trends.

There are group chats based on your preferred trading markets. You can participate in as many or as few of these group chats as you like. You can also send private messages to traders in the community if you want to discuss something one-on-one.

Market News and Data

TradingView has a News feature that streams the latest news from media outlets like Reuters, Cointelegraph, and InvestorPlace. These outlets cover various investment categories, such as stock, forex, crypto, futures, bonds, and indices.

There's also the Snaps feature. This gives you the latest news from stocks and crypto traders who have posted snapshots.

Educational Content

TradingView provides streams of educational content and trade ideas from the community. You can watch videos if you want to learn more about a trading strategy or a trading style.

There are also videos for live trading and market analysis from trading experts.

Broker Integration

TradingView has over 50 brokerage connections: OANDA, FOREX.com, Interactive Brokers, Webull, TradeStation, Tradovate, StoneX, Gemini, and more.

These connections let you integrate your preferred broker with TradingView, allowing you to trade directly from the platform after analyzing the charts.

Customer Support

Unfortunately, TradingView doesn't have a public number or email. Paid plan users, can get support from TradingView's Customer Success team by submitting a support ticket and selecting a category of concern. From there, you'll be asked a series of questions to pinpoint your specific concern.

User Testimonies

Here are some user testimonies from users of TradingView, reviewed on Trustpilot:

Alternatives to TradingView

Not sure if TradingView is the right fit for you? MetaTrader 5 or Ninja Trader may be good alternatives.

MetaTrader 5

MetaTrader 5 is also a technical analysis trading platform with highly customizable graphs. It offers 38 technical indicators, which is much less than TradingView's 100.

MetaTrader 5 also offers a range of timeframes. The shortest one minute timeframe is available, while TradingView offers timeframes as short as one second.

Both MetaTrader 5 and TradingView allow the trading of a wide range of assets like cryptocurrencies, indices, commodities, currencies, and stocks.

NinjaTrader

Like TradingView, NinjaTrader offers a wide range of charting options. It has over 100 indicators, analytical features, and tools. NinjaTrader also lets you create your own technical indicators.

It also has a replay feature for backtesting strategies and a large community of traders with whom you can discuss trade ideas. You can also trade a wide range of assets.

Bottom Line

TradingView can be an extremely useful technical analysis platform, especially if you're an active technical trader. Its paid plans are particularly useful if you're doing multi-timeframe analysis.

If you want to try it out, there's a free plan that offers some of its key features. It's limited, but it's good enough to try out the indicators, timeframes, and drawing tools.

There's also a one-month free trial for its paid plans, letting you experience the full range of tools and services TradingView offers.

References