Hello, professor @yousafharoonkhan, I am glad to be part of your lecture and I present to you my homework post about how to create an account on TradingView, how to use indicators, tools, and features of TradingView that you laid out to the steemians.
Define the trading view site and how to register an account in TradingView. What are the different registration plans? (screenshot necessary)
TradingView is a general term used to describe an online community that is composed of traders who want to get vast knowledge about the financial markets, that is to say, it is a web-based platform that has a robust set of tools and options to help traders in performing technical analysis to know the market trends of an asset.
TradingView not only has the technical analysis tools but also gives different traders the opportunity to chat and share their analysis or ideas with other traders around the globe so that other traders can check out if the analysis will come through or will flop.
How to create an account on TradingView.
To set up a TradingView account, you need to go to https://www.tradingview.com/ and click on the signup option.
Thereafter you will be directed to a signup form that you are required to fill up then simply click on sign up to create a free account with TradingView.
It will then ask you to confirm your account by clicking on the link in the welcome email which is sent to your personal email address that you're provided while signing up.
After clicking on the link in your email, you will then be redirected back to the TradingView website where it will ask you to give your first and second name for your new TradingView profile. Either fill in your name or click on the cross on the top right corner of the page to continue.
And finally, you have successfully created a free TradingView account.
What are the different registration plans?
TradingView offers four plans with more features available depending on the expense of the account which is charged monthly or annually, that is, the basic subscription which is free, the Pro subscription that costs $14.95, the Pro+ subscription which costs $29.95, and the Premium subscription which costs $59.95 monthly.
Explain the different features of trading view and what is your favorite feature and why? (screenshot necessary)
There are several features of TradingView and I will be discussing the following features on the web-based platform.
Charts.
The chart feature of TradingView enables traders and investors to monitor and analyze the financial market charts, that is to say, it comes with a variety of tools used for technical analysis by traders to know the market trends of the particular asset they hold or trade.
On clicking the charts feature, the main body of the chart will then pop up showing the different movements of an asset that you desire to get acknowledged about.
At the top of the chart, there’s a toolbar that consists of the asset you want to analyze, different timeframes, different chart types, indicators, among others, and also has the publish button which enables you to share your analysis with the community online.
On the left-hand side of the chart, there is a toolbar that consists of different tools, for example, the Fibonacci retracement tools, shapes, lines, text app, among others that traders use to analyze the chart and price movements of a particular asset.
The right side of the chart has the watchlist where an investor can monitor the different assets they hold.
Trade.
The trade feature on TradingView shows the top-rated brokers and more information about the broker. It also shows the TradingView broker awards.
Markets.
The markets feature on TradingView shows the different financial markets, currencies, and prices of the different assets in the financial markets including forex, futures, stocks, indices, among others.
Screeners.
The screener feature on TradingView consists of a stocks screener, forex screener, and crypto screener while aid in monitoring the performance and activities that are currently occurring in the different financial assets in the markets.
Community.
The community feature on TradingView lays grounds for different traders around the globe to share ideas and analyses with other traders on the platform. Users can also be able to follow up with their favorite authors and financial market analysts to understand more about the market trend of the particular asset they own.
More.
The more feature consists of the help center where a user can contact for customer support, has more information concerning TradingView platform from the About section, and also has the option where a user can download the desktop app, among others.
Favorite feature.
My favorite feature on TradingView is the community. This is because I have attained vast knowledge from the platform through the community feature, that is to say, I have been able to follow up with some of the top-ranked authors and analysts who share their knowledge and analysis about a particular asset. The community has also introduced to me new trading tools and strategies to analyze the financial markets to know which ones favor my trading plan. Sharing of knowledge is key in being a successful trader, the fact that new tools and strategies are being developed every day.
How to set up a chart in TradingView and use two tools to edit it. (screenshot necessary)
Once you have signed up and logged in to your account, to bring up the charting window you have to click the chart button on the menu bar across the top of the page.
You will then be taken to the charting section of the website. By default, the chart has candlesticks and if you want to change this you just simply go to the candle icon and drop-down menu to select the type of chart you would like to see.
To change the color of the candles, right-click on the chart and go down to settings where under the style tab you can change the style characteristics of the chart including candle colors and the information shown.
On the scales tab in the settings window, you can change a variety of settings in relation to the scales of the charts. One thing you may want to turn on or off is the auto fit data to the screen which changes the scale of the chart as you scroll back to fit all the price data on the screen.
To change the colors of the chart, head over to the Appearance tab on the setting window where you can change the colors of a variety of the different aspects of your chart including the background, grid, and scales.
If you have linked your live or demo trading account to a TradingView account, you can enter, manage, and exit positions directly from the TradingView window through the trading tab at the settings window which lets you choose which trade information you want to be displayed on a chart when applicable.
To change the cursor type, simply click the cursor icon at the top of the sidebar on the left-hand side of the screen and click the type of cursor you desire to make use of.
I used two tools to edit my chart on TradingView which included a trendline to mark the support and resistance level and an arrow to show the direction of the market.
Explain how to add an indicator in the chart, what is your favorite indicator, and why. (screenshot necessary)
To add indicators to any charts, simply click the indicator button on the toolbar across the top of the screen, and a dialog box will then appear with a whole host of indicators to choose from. You can use the search function at the top left corner of the box to quickly find the indicator you are looking for and the list below the search box shows different libraries of indicators. In this case, I selected moving averages with exponential moving averages in particular.
After the indicator has been plotted on the chart, click on the setting icon to display the window where you will be editing the exponential moving average to make it more clear on the chart.
Finally, the exponential moving average has been added to the chart as seen below.
My all-time favorite indicator has always been the moving averages. This is because the moving averages indicate the direction where the market is going whether an uptrend or downtrend direction, that is, it helps acknowledge a trade an exit point in a trade or an entry point in the trader. This has reduced the massive losses and increased profits.
Do you think TradingView is useful in predicting the market for cryptocurrency (trend/price)?
According to the 4 years, I have spent using the TradingView website, I agree that the website is a convenient platform in predicting the market for cryptocurrency. In this sense, TradingView has several tools and indicators that help cryptocurrency traders to analyze and know the trend and movements of the market.
TradingView also has the screener feature which helps traders to know what exactly is going on in the cryptocurrency market from showing the performance of the different assets to showing the trend of the markets which has made it easier to predict the cryptocurrency markets.
Conclusion.
TradingView doesn’t only provide grounds for creating charts but also provides the social aspect where people get to share ideas and analysis to the community which distinguishes it from other charting platforms thus creating more grounds for newbies to learn about trading in the financial markets. Therefore, I would like to thank professor @yousafharoonkhan for such a wonderful lecture about TradingView.
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