Crypto Academy / Season 3 / Week 7: Assignment Post for Professor @yousafharoonkhan
Hello Everyone, so today I invite you all to read today's Homework on How to create an account on TradingView, how to use indicators, tools, features of the tradingview subject which are given by Professor @stream4u.
So let us continue with our homework.
TradingView:
Tradingview is actually a site or platform where all the data regarding any coin is recorded, and it is almost used by every trader nowadays. We can also do trading there, where we also can study any asset and can see or predict the trends of the market. Hereby market I mean the crypto, stock shares of the companies market, so as in tradingview it covers all of these markets. On this site, they offer different tools and systems to the traders by which the traders are able to predict the markets. These tools are usually the indicators, different features, which are usually or only offers by the tradingview.
On this site, we can easily access any of the assets or markets charts of forex, Gold, crypto, shares of the companies any many markets like that. On this site, we can do trading online in any of these markets. There are even options or features of teaching as if someone wants to teach someone there are options of making the video and also many features which can help one in teaching someone.
Tradingview is a site that is used by mostly every trader because of its niceness and easy functionality. And we can even use it for free for our purposes, but if someone wants to work on high profile things then there are options of taking pro plans and thins.
Register an account:
So to register into the Tradingview, we will first go to Google and type Tradingview there.
- From there we will land on to the main page of the tradingview.
- After landing on the main page we will have to click on the Start Free trial.
- After that there will be the option of Try Free basic, so we will click on that to continue.
- After continuing we will see the option to sign up there is options to get Sign Up with the Google ID, Facebook, Twitter, Yahoo, Apple ID, and Linkedin, or we can get sign up from directly putting our email and making a password.
- As I found it easy to directly Sign Up throw my Gmail Id so I click on that and it automatically connects to my Google ID.
- As you can see that I am now signed in throw my Gmail ID.
Registration Plans:
As I also have told you all above that the tradingview have many registration plans, so here below I am gonna show you all those registration plans and the things which they offer under those plans.
- So firstly we have to go to the main page of the trading view and will have to click on the Start Free Trial.
- Then the page for the registration plans will get open. And there we can see that it is giving us Four registration plans which are.
- Free Basic.
- Pro
- Pro+
- Premium
Free Basic:
In free basic, we will get the basic network of the tradingview, in which we will be able to see some normal basic tools. We will be able to see:
12 customizable chart types
Compare symbols
Dividend-adjusted charts
Interactive earnings, splits, and dividends
Extended trading hours
And some other basic tools.
Pro Plan:
In the Pro plan, it will cost us $14.95, and the things we will get are:
- We will get 5 indicators per chart
- The 2 charts in one window
- It will be Ad-free, which is definitely the best part.
- we will be able to see Volume profile indicators
- The Custom time intervals will also be provided to us
Pro + Plan:
In the Pro + plan, it will cost us $20.95, and the things we will get are:
- We will get 10 indicators per chart
- The 4 charts in one layout
- We can use 2 devices at the same time
- we will be able to see Intraday exotic charts and Charts based on custom formulas.
Premium Plan:
In the Premium plan, it will cost us $59.95, and the things we will get are:
- We will get 25 indicators per chart
- The 8 charts in one layout
- We can use 5 devices at the same time
- we will be able to see alerts that don't expire.
- And more data which will help in getting the perfect signals.
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So the Tradingview platform or the site has many features and sub-features, but it has 5 main characteristics, to which I will gonna show light. These 5 characteristics of the trading view platform are:
- Chart (charts)
- Trade (Brokers)
- Markets (Crypto, currencies, stock, Indices, Futures, Bonds, sparks)
- Screeners (Stock, forex, crypto)
- Community (Ideas, Scripts, Streams)
1. Charts:
So this one is the most used function of the Tradingview, which is charts. As traders use ut to the charts of the currencies or crypto assets prices volatility as if they are going up or down and traders then invest on that asset to which they found the best. It is basically used for the technical analysis of the assets.
In that we can modify the charts or graphs, we have the tool to write in that and to draw lines and boxes.
We can see trend lines.
We can add different indicators and use different tools to make our trading easy.
2. Trade:
This function is after charts, as when we do technical analysis of any data, then we try to trading and for that, we have this function of trade where we can trade our assets, so fiat to crypto or crypto to crypto.
There are also brokers in that trade where we also can exchange our assets or sell or buy the assets throw the brokers.
3. Market:
So in the market, we can see the assets, prices, market capitalization, or in other words, we can see the market trends of all the markets including crypto, forex, stock and etc.
Here we can see the current prices of the assets of different markets
As on the right side it shows the exchanges which told us which asset is listed on which exchange.
Here it has access to all of the market, assets, and its pairs.
4. Screeners:
Here is actually made out a whole screen for the stock, crypto, and Forex market.
There made a whole screen of the possible pairs of the assets.
Then it shows the Last prices, changes in the market, High, Low, Volume, and the exchanges on which it works.
It's like a whole screen of the assets.
They also show the performance of the assets and the trends following.
5. Community:
The Community and the trade are a little bit connected to each other as on trade we also can see the Best Broker and Brokers Awards and in the community, we can see the reviews on those brokers and also the latest news, which the users have written about their experience.
My Favorite Feature:
So if I see the tradingview from top to bottom, every feature of that is useful and is best in its own way, everything has its purpose and everything works on its own way and all of that are interlink but I guess the feature which I liked the most today, as before I never research on the trading view and didn't say it's option except the charts but as today I get into the whole platform and saw it's every feature I guess I can say that I like the Crypto Screener feature the most.
So the reason why I like this feature is a lot, the most important thing about this feature is that usually, people don't know about this, as it shows the crypto pairs and their Top prices in the Exchanges. As some days ago I got to know that every exchange has a little difference in its prices, as if I see the price of BTC in Binance it can be $46k and on any other exchange it can be $45.5k or $46.5k(just an assumption), so in this feature, we can search the asset of our choice and there it can show us the exchange which is giving the highest price for the asset.
It also shows the performance of the asset we want to see and its performance is of different time frames like of week, month and year also and in the right, it shows that what is the volatility of the current asset of the certain exchange. It also shows the Oscillators rating as if it is a buy signal or a sell signal in the current market. And then in the last, it also shows us the trend-following of the asset.
So now I am gonna show you that how we can set up a chart in the tradingview. I have just randomly selected the market and now I am gonna show you all that on that chart.
- So firstly we will have to click on the setting, as that is the option from where we can set up a chart.
- Then it will show the option, from where we can configure or set up the whole chart according to our likings. And below are the things to which we can make changes.
- Symbol: So in the symbols tab we can change the color of the body, borders, wick, and many other things. the green and red colors are randomly selected by we also can change those colors.
But it is not recommended as our eyes are familiar with those colors and changing the color will take time to come to normal. But still, it's everyone's choice.
- Status line: here we can also configure the Status line of the asset, which includes the symbols, bar change values, buy and sell button, and many other things which are important for trading we will check all the buttons there.
- Scales In scales we will click on some important scales we want to see such as Symbol last price, no overlapping labels, and things like that.
- Appearance: In this tab, we can change the appearance of the chart, we can color the chart according to our own likings, as you can see I have put the gradients colors in the chart.
- trading: Here we also click on the main things such as show positions of the candles, show orders, extend line left, and much more.
- Events: It shows dividend on the chart, also splits the charts, also show the earning on that chart, so we will click on all of that as we wanted to see all that.
Tools:
So now below I am gonna use 2 tools to edit the chart. And the 2 tools which I will gonna use will be Cursor and the Trend Line.
1. Cursor:
So here we have the tools which are Cursor, we can now choose any of the cursor types we want from the options they have given to us, The cursor tools are used on the entire chart, usually for the traders to roam on the charts and then the people who teach others on these types of charts.
The types of the cursor here are the Cross, Dot, Arrow, and Eraser.
2. Trend Line:
So these tools are used to draw on the trend line on the charts, as the traders used it so they don't forget it after some time for their ease, and it is also used by the teachers as well who teach crypto on these charts as well.
As below I also have shown you that how I have used the trend line in the chart.
Adding an Indicator to the Chart:
Adding indicators to our chart is an important part of trading, as it helps in finding the trends and show us that when to enter into the market and when to exit the market. And to be honest, some months ago I didn't really know about the indicators but after starting studying the Crypto academy courses I have learned to use some of the indicators and I am using 3 indicators at the moment as it helps me a lot which are Bollinger Bands, MACD, and the Vortex Indicator.
But now I am gonna show you that how we can add the Vortex Indicator as I think it is my favorite one in all.
- So firstly we will click on the fx to open the section, where we can search the indicator we want to use.
- Then in the search box, I will write the indicator I want to add as I wanted to add the VOrtex indicator so I write it and then click on that.
- And now as you can see the indicator is now added to the chart and now I can use it as I want.
Why Vortex Indicator is my Favorite:
I think this is the best indicator I am come across to so after reading the question the first indicator I got in my mind was the vortex indicator or the VI. Why? because there are many reasons for it, as it is easy to use it and it is easily understandable for the people as I think it is the most important thing as everything almost become perfect when people get to understand that.
So it is also very reliable and has got good scalability, it shows the signal really fast, and it works of the length as on default the length is 14 and we use it in the normal timeframe, but if we go for big time frame like a week, so usually we also increase the length to 28 or according to your choice, so it gives the most perfect signals and if we decrease the length it then gives the signals really fast, usually faster then another indicator, as somedays ago I was reading charts with MACD and the VI and there I see that VI shows the downtrend but in MACD it was not started yet so I wait some time and I see that the market starts going in the downtrend, so by that, I got to know that we can enter and exit the market at the perfect moment because of that indicator.
You can see the difference in the chart below:
It is a yes from my side, as from the top if I see my homework, the things I have told in my homework, definitely show that the Tradingview is very useful in predicting the market for a cryptocurrency about its trends and price. It offers the perfect tools and features which can perfectly predict trends.
In Tradingview, people can predict the price by using the tools, and the features of the platform. Tradingciew is one of the best and updated sites for traders. It really helps the traders in doing the technical analysis with the help of tools of any market such as crypto, stock, forex, and other markets as well. If we see that in predicting the market the most important thing is the technical analysis and tradingview is the perfect site for doing the technical analysis, as it has the best tools, indicators, and settings to set up the whole chart.
Even if we go to the community section or the feature of the tradingview there people have shown the predictions of the assets or coins there to which we can see and also learn it.
And to predict the market they also have the best indicators such as RSI, MACD, Bollinger Bands, and many more, and the best one is the Vortex Indicator to which I also have told you all about a little above.
Conclusion:
So now this is going to be the end of the Homework, as today I have learned a lot from the lecture and especially in making the homework as always.
We got to know about the tradingview, that it is one of the best sites to do the technical analysis, it is used by almost every trader and is very easy to use. It also got the best tools and indicators which we can use for the trader, we also have learned that how to use those tools in the chart and how to set up a chart.
we see that how to register into the tradingview account as I don't usually have money so I enter into the free basic plan wise there are also plans such as Pro, Pro +, and the premium which we can buy, to do some professional trading.
It also has got the some best of the features which we can use to see the market and to predict its prices, as Tradingview can be used in stock, forex, and crypto markets. We also have got the screener, trade options throw the brokers the whole community where people can show their predictions and write the reviews about the brokers.
And that was all for the conclusion.
Regards,
@maazmoid123
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Season 3 | intermediate course class week 7
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