TradingView is a comprehensive trading and charting platform that provides tools for analyzing charts, designed to assist in investment decision-making. It offers the most complete features and the widest selection of investment assets from around the world. TradingView allows users to plan their trades from the very beginning, all the way through to making potential profits, in just six simple steps:
TradingView users can select the coin or token they wish to trade using the menu located at the top left corner of the screen. You can choose to analyze coins or tokens listed on major brokers and exchanges through different trading pairs, including stablecoins or Bitcoin (BTC). The selection ranges from small to large market-cap coins. You will also be able to execute trades directly through the TradingView interface.
Before starting a trade, you will first need to select the type of chart that will display price movements. One of the most popular charts used by traders is the candlestick chart, which shows the price behavior of each coin clearly. However, users experienced with other chart types can choose their preferred format as well.
After choosing your chart type, the next step is to select the time frame, ranging from minute to yearly intervals. Short time frames, such as 1-minute or 30-minute intervals, are suitable for short-term speculative trades, while longer time frames like daily or weekly charts are more appropriate for long-term investors. Select the time frame that best fits your trading style and risk tolerance.
Indicators are tools used to analyze price trends based on historical data, employing different formulas to forecast future prices. Popular indicators include Moving Average Convergence/Divergence (MACD) and Relative Strength Index (RSI), with each serving different purposes. After selecting an indicator, it will appear on your trading screen.
TradingView users can access over 100 indicators via the menu situated on top of the screen, including custom-built indicators created by other users. Advanced traders can even design their own indicators.
If you are relying on price patterns to analyze trends, TradingView offers drawing tools accessible through the side menu on the left. You can draw vertical, horizontal, and diagonal lines to create trendlines, as well as various price pattern tools. The use of price patterns requires slightly advanced knowledge and experience for effective analysis.
Aside from making profits, managing risk is crucial in trading. Before placing any trade, it’s essential to calculate a stop-loss level. TradingView offers tools to calculate the risk-reward ratio, located in the "Projection" menu on the left side of the screen. Selecting the "Long Position" option allows users to calculate the ratio based on the entry price, helping determine whether the trade is worth the risk.
At this stage, you can now start placing your trade orders on TradingView. With all these features provided by TradingView, traders of all levels—from beginners to professionals—can analyze and execute trades seamlessly. TradingView offers you a wide range of customizable tools, making it an all-in-one platform for planning and managing trades successfully.
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*Cryptocurrencies and digital tokens are highly risky; investors may lose all investment money. Investors should study the information carefully and make investments according to their own risk profile.
**This content is provided by Bitazza Co., Ltd. in collaboration with TradingView