Crypto Academy / Season 3 / Week 7 - Homework Post for professor @yousafharoonkhan

Hello Everyone...!!!

I am much grateful participating in this week homework post by Prof @yousafharoonkhan. The detail lesson on Trading View was very comprehensive.

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Defining the TradingView site and how to register an account in tradingView? what are the different registration plans? (screenshot necessary)

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Defining the TradingView Site

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Trading View is a useful platform for cryptocurrency traders that was initiated in 2011 by Stan Bokov. It composed of information concerning the current and previous data of the crypto market.Trading View has a desktop version in a form of a website and also a mobile application. The TradingView platform enables traders to earn more profits through its exploration and use, by providing guide on how to utilize the tools involved.

Trading View composed of a lot of features which traders take advange by exploring and determine the trend of an underlying asset. It contains the Chart feature which comprised of indicators anabling traders to predict the trend and strength of an asset trend. This chart too contains the historic data of all assets from the day of its creation to date. Whenever a trader which analyse a certain cryptocurrency, he/she can easily explorer the site.

The platform offers a Free Version accounts registration which has a limited features but still very helpful for trader to learn and practice. The free accounts can easily be upgraded by paying a little sum of money which will enable you get access to all the features of the platform. For instance, some of the indicator within the chart feature are locked but with the upgraded version, traders will be able to access all the indicators.

The Stream feature also help newbies to learn live trading by joining expert who mostly stream their live trades for other to learn. With the trading view platform, traders can connect their trading wallets or Exchange platform for easy access to their assets. And with the Help option all question can be answered. These features of the trading view site will be explain later in this article.

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How to Register an account in TradingView?

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• You need to visit the official website of TradingView and click on the start free trial at the top corner of the window.

• Click on try free basic from the accounts plans page. You can find it at the bottom of the page by scrolling down.

• The next page that will appears is the Sign up page asking you to choose the platform you want to sign up with either google, Facebook, apple, Twitter or e-mail. I chose E-mail from the options.

• Fill in the blanks with the appropriate information like you name, email, password, agree to the terms and conditions of TradingView. I also check the Captcha Box and did verification to prove that I am not a robot. After all this processes, click on Create Account.

• After entering the correct details, a verification link will be sent to your E-mail for verification. Login to your E-mail and click on the link provided by the trading view website to activate your account.

• Finally, you have to setup your photo, first name and last name click on continue to confirm.

• Your Account on trading view has successfully being created.

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The differen Registration Plans in TradingView Site

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On the trading view platform, the registration plans consist of three different forms, the first on is what is explained above, try free basic. The other two are Monthly and yearly package. These two packages are all sub divided into Pro, Pro Plus and Premium. The only different between the Monthly and yearly sub divisions are the prices. Let’s explain them into details.

Monthly
As I said already the monthly package or forms are categorized into three different form. Let’s see what each package contains and the corresponding price value.

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Pro package, it’s the less costly among the three packages and so comes with the following benefits; access to 5 indicators per chart, use of 2 charts in a single window, provides 20 server-side alerts, comes with Ad-free, provides Volume profile indicators, ability to access Custom time intervals,comes with Multiple enhanced watchlists and finally Bar replay on intraday bars. All these come with a cost of $14.95 per month.

Pro Plus, this plan cost more than the pro plan and as well comes with benefits much better than that of the pro plan. Users with pro+ get access to 4 charts in a single window, with a chart 10 indicators can be inserted, charts are based on custom formulas. All these come with a price of $29.95 per month.

Premium, this is the most costly package and it comes with the most benefits, users have 25 indicators per chart, access to 8 chart in a single window, provides 400 serve-side alerts, provides second-based intervals and the Alerts that don’t expire. This comes with a cost of $59.95 per month.

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Yearly/Annual plan

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This plan or package is also categorized into three Pro, Pro+ and Premium. With the annual, 16% off is given which means two month free.

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Pro package, it’s the less costly among the three packages and so comes with the following benefits; access to 5 indicators per chart, use of 2 charts in a single window, provides 20 server-side alerts, comes with Ad-free, provides Volume profile indicators, ability to access Custom time intervals, comes with Multiple enhanced watch lists and finally Bar replay on intraday bars. All these come with a cost of $155 per year.

Pro Plus, this plan cost more than the pro plan and as well comes with benefits much better than that of the pro plan. Users with pro+ get access to 4 charts in a single window, with a chart 10 indicators can be inserted, charts are based on custom formulas. All thses come with a price of $299 per year.

Premium, this is the most costly package and it comes with the most benefits, users have 25 indicators per chart, access to 8 chart in a single window, provides 400 serve-side alerts, provides second-based intervals and the Alerts that don’t expire. This comes with a cost of $599 per year.

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Explain the different features of TradingView and what is your favorite feature and why? (screenshot necessary)

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Features of TradingView

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Trading View crypto platform comprised of a lot of features that help crypto traders in their scalping or swing trades. Let’s explorer the features and see its benefits.

• Chart
  This feature contains all the crypto possible assets pair which enable traders to monitor the trend of any assets from its initiation to date. The chart feature contains a lot of indicators which is inserted in any assets pair to determine the trend, support and resistance, overbought and oversold, trend reversal, buy and sell positions and many others, for traders to take advantage of the market. We can also edit the chart to suit our vision and our trading style.

• Trade
  The trade feature provides the brokers on the platform and the leverage that all offer for traders. These brokers on the platform are legit and won’t run away with investors assets. The minimum amount of capital to start a trade are all listed with the brokers. The brokers are rank for more assurance.

• Market
  It contains sub-features like cryptocurrency, Indices, Bonds, Money, Currencies, Futures, and Sparks. Let’s look at the sub-feature one after the other.

Cryptocurrency: this sub-feature of the market feature displays the prices of all the crypto assets. It also contains Defi coins and Market cap chart.

Currencies:this feature gives the users with the current prices of major, minor, African, American currencies.

Stocks :This contains list of top gainers, top losers, Most active, Most volatile, Overbought, Oversold, All-time high, All time low, High-dividend, Sector and Industry.

Indices:This feature displays indices by categorizing them in Major world indices, US indices, S&P Sectors, and Currency indices.

Future this feature provides information on Agriculture, Energy, currencies, Metal, World Indices, Interest rates.

Bonds:This feature provides information by classifying them based on continents types such as Americas, Europe, Asia, Pacific, Middle East, Africa and as well as Mahor 10Y.

Sparks: this feature provides the users with daily information about cryptocurrencies.

• ** Screeners**
  This feature provides the user with information they need on the stock screener, forex Screener and crypto screener. This feature also give a guide on when to enter a buy and sell positions.

• Community
  With this feature, users on Trading View get to interact with expert traders on guides to trade crypto currencies.

• More
  This feature provides other relevant features of TradingView including; Pricing, Features, Help Centre, Desktop app, about, and Business aspects.

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what is your favourite feature and why?

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From all the features discuss above, the Chart feature is my favourite and below are my reasons.

For a crypto trader, there is a saying that the market is your friend and so when you trade against the market you will have a lot to loss. The chart feature provide traders with assets market trend and historic data to reference their analysis.

The chart feature also provides indicators to determine the resistance and support, buy and sell positions, overbought and oversold, strength of trend and so many signals to determine the trend of the market in order to make profit. This feature generally help traders in their analysis to determine entry and exit points of the market to make profit and avoid loss.

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How to set up a chart in TradingView and use two tools to edit it. (screenshot necessary)

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How to Set up a Chart in TradingView

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• How to set up a Chart in TradingView from the trading view features.

• To setup your chart you have to know the type of chart you want to setup either a stock, futures, forex, crypto, index or economy. Here I will be using STEEM/USD pair.

• The STEEM/USD pair chart has been setup.
  

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Using two tools to edit

• Now, I clicked on Settings Icon on the top right corner of the chart window to make some adjustments to my chart graph.

• From the chart settings, I will make my adjustments by using the Appearance and Symbol tools.

• With the appearance option, I will change the background colour to Black

• See from the chart graph, the background colour is black.

• From the Symbol tool, I will change the candles colour too, by default the bullish candle is green but I will change it to blue. Also by default, the bearish candle is red, I will change it to black

• From the chart graph below the blush candles are changed to blue while the bearish candles are change to black.

• I will also use the edit tools at the left side of the chart to do some editing.

• I will start with the text editor, this help us label important points on the chart.

• With the text editor, you can change the font size of your text, the font colour and the position of the text.

From the charts above, the font colour of the text market trend has change.

• The next tool I will use is the Prediction and Measurement tool, this tool help plot points to indicate a well-defined trend

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Explain how to add indicators in the chart, what is your favourite indicator and why? (screenshot necessary)

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How to Add Indicators in the chart

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We have a lot of indicators in trading view chart and we have learnt some of the indicators in some lesson of other professors. I will add the Ichimoku-kinko-hyo Indicator.

• First, you have to click on fx (indicator and strategy) at the top part of the Chart window.

• Type Ichimoku-kinko-hyo Indicator in the search box that appears.

• Now close the indicators and Strategies search menu and we can see the effect as shown in the screenshot below.

We can see the line of the Ichimoku indicator on the chart above.

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Why is Ichimoku Kinko Hyo indicator my favourite?

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Ichimoku Kinko Hyo indicator is my favourite due to the following reasons.

• Consisting of five different lines Tenkan Sen, Kijun Sen, Senkou Span A, Senkou Span B, and Chikou Span.All this lines can be used in determining the direction of market trend. This provide nearly accurate signals as all indicators are not perfect.

• The Kumo cloud, that is the space between Senkou Span A and Senkou Span B can be used in forming a support and resistance point, which enable traders to mark entry of buy and sell positions.

• The settings of the Ichimoku Kinko Hyo indicator can be adjusted to suit the trading style of any trader. For instance, a scalping trader can reduce the length period of the lines to suit his/her style. Also a swing trader can increase the length periods.

• The indicator is user friendly and some of the line can be hidden to focus on only your desire lines.

• The Ichimoku Kinko Hyo indicator moves with market trend, when trend is in bullish market, the indicator move up and when trend is in bearish market, the indicator move down.

Ichimoku Kinko Hyo indicator showing an Uptrend

As i said already, when the Ichimoku Kinko Hyo indictor lines move upwards, a bullish market is signal and traders should be in a buy position.

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Ichimoku Kinko Hyo Indicator showing a Downtrend

When all the lines of the indicator start to project downward, a bearish signal is given by the indicator and traders should be in a sell position.

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Do you think TradingView is useful in predicting the market for cryptocurrency (trend / price)?

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Usefulness of TradingView in Predicating the market Price of Cryptocurrencies

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Yes!!! Trading View is a platform that provide traders with a lot of information on cryptocurrencies. It has a lot of features which help traders to understand the crypto world. The stream feature of Trading view help newbies to learn all kind of live trades from expert by watching live streams on the platform.

The historical data of all the crypto currencies are in trading view and traders can make reference when necessary. Also, Charts provide traders with market trend. The previous year’s chart of an assets can be study by traders in predicting the trend of an asset.

All kind of indicators are included in Trading View like the RSI, MACD Bollinger Bands, ADX, Golden and death cross and many others. These indicators provide signal for a bearish and bullish market. SO when this indicators are well studied, determining the price or trend of an asset is very easy. It also, provide options to use several indicators on a single chart for an accurate determining of trend.

Trading view has a watchlist feature which you can put all currencies you wish to invest in and study its trend without necessary investing in the currencies.

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CONCLUSION

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Trading View is a useful platform which traders should employ in their analysis when trading cryptocurrency. It provide features which identifies market trend. Consist of a lot of indicators like RSI, MACD Bollinger Bands, ADX, Golden and death cross that helped reduce the loss rate of so many investors.

The platform has a user friendly interface and creating an account is very easy and simple. In creating the account you can sign in by several ways which makes recovering of accounts very easy.

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Thanks For Your Attention