Crypto Academy/ Season 3 / Week 7/ [Homework Post For @yousafharoonkhan] / Trading View by @sparta5005
Hello everyone. It is another week of the steemit crypto academy season 3 and I’m here to present my homework task on a lecture thought by professor @yousafharoonkhan TradingView. It is a nice topic to write on and below is my research on this interesting topic.
Question 1
TradingView is a trading platform that gives investors the chance to discuss on different trading ideas. It consists of information regarding the cryptocurrency market. The TradingView platform also assits investors to work on their income by giving them detailed information they need to know, which aids in assisting them during trading.
Trading view provides indicators to traders that they use to do technical analysis before deciding on which cryptocurrency to invest in. It is a well known platform and has great and unique features.
Knowing the use of Indicators is vital in case you want to ended up being a great trader so tradingview contains over 100 built in indicators such as Normal Genuine Extend, Adjust of Control, Bollinger Groups, Ravenous Methodology, Relative Vortex File, and many more.
In trading view, a trader can accurately predict the prices of crypto assets with the help of a feature known as the screener feature. It also gives its users the required information about crypto assets. With trading view a trader can check his assets without any difficulty with the assistance of a feature.
Here i will be following the necessary steps involved in creating an account on tradingview and below are the steps involved;
1. You visit the tradingview site using the link (https://www.tradingview.com/).
2. From the homepage you then click on the avatar icon on the top right corner of your screen.
3. Now click on start free trial.
4. From the next page click on Try free basic to register.
5. Now you will be given different signing up options to pick one. I will be selecting the email for the purpose of this assignment.
6. Now i put in my email address and my password and accept their terms and conditions. And click on Create Account to continue.
7. A link was sent to my email address for me to click and activate my tradingview account.
8. After clicking on activate account, you will be asked to provide a profile picture which i won’t be adding now. And your account is created successfully.
Basically, there are two main registration types on tradingview;
1. Monthly Registration: This type of registration also comes in different forms, pro+, pro and premium.
Under the monthly registration all the categories have their respective prices;
Pro is $14.95 under monthly registration
Pro+ is $29.95 under monthly registration
Premium is $59.95 under monthly registration
2. Annual Registration: The annual registration too comes in this same three categories and their respective prices.
Pro is $155 under annual registration
Pro+ is $299 under annual registration
Premium is $599 under annual registration
Question 2
The tradingview platform consists of so many features that enables its users to perform several activities without any difficulty. Some of these features are; trade, chart, market, community and many more.
1. Chart: The chart feature at the menu of trading view is used to access various charts of different markets for technical analysis. With this feature a user can access different kinds of indicators used in determining the price movement of crypto asset.
2. Trade: This feature shows brokers who are using trading view. Some of these brokers on trading view are, FCMT and many more. Each broker benefit is shown and their maximum leverages as well.
3. Currencies: The Currencies feature is found under market which gives information on the prices of some currencies. Some of these currencies maybe major, minor, exotic fiat currencies. It gives information on African, Asian currencies and many more.
4. Indices: This indices feature categorizes indices into Major world indices, US indices, S&P Sectors, and Currency indices. The value of indices are usually calculated from market cap.
5. Screeners Feature: Screeners feature gives information on stock screener, forex Screener and crypto screener. It shows how the performance of stocks, forex or cryptocurrencies, rating to either buy or sell, market volume, market cap, employees etc.
6. Community: The community feature gives users trading ideas, educational ideas, scripts, streams, market insights and so much more.
7. More Option: It gives other relevant features of TradingView including; Pricing, Features, Help Center, Desktop app, About, and Business aspects.
Trading view has a lot features which are all important as cryptocurrencise are concerned. With all the above mentioned points, i will say my favorite feature is the Community feature and below is my reason for choosing this feature;
With the community feature, i will be able to get more information concerning trading from different trading view users. It will again help me to make the best and right decision on which crypto asset to invest in.
I can also extend the ideas i have about trading in crypto currencies to others with the assist of the community feature.
Queation 3
In this question i will be giving the necessary steps required in setting up a chart in trading view.
1. You will click on chart on trading view to launch a chart.
2. After successfully launching the chart, you then click on the setting icon.
3. Now the chart setting is open and it enables a user to set charts using appearance, scale, status line and many more.
4. I decided to change the background of the chart, which can be find under appearance. I now change the background color from white to red.
5. I decided to remove the indicator lines and change symbol to ticker and description. And this can be done under the status line.
6. You can change the settings with respect to all the indications under the settings button. Now my final chart looks like this.
Question 4
1. Click on indicator at the top of your screen.
2. Now, you then search the indicator you will like to add. In this question i will be adding the MACD indicator.
3. After clicking on it you then close the indicator and search menu and you can clearly see your indicator being added to the chart.
Below are some of the reasons why I prefer using the MACD indicator;
1. The MACD Indicator is very friendly to use and it has no complexity in its indication of patterns like other indicators.
2. This indicator also helps in predicting the future trend of crypto assets in the crypto world.
3. A user of the MACD indicator can always use it at anytime in trading being it a week, month or daily.
4. The MACD indicator with collaboration with the RSI indicator gives a 100% accurate results, where the MACD always gives about 80% accuracy.
5. The MACD Indicator is also best in predicting the movement of crypto assets in short term trading.
Here i changed both the Signal line from orange to black color and the Macd line from blue to white color.
A MACD indicator showing an UPTREND movement.
A MACD indicator showing a DOWNTREND movement.
Question 5
YES, Trading View is exceptionally valuable to anticipate any cryptocurrency market. The features of this platform assist its users in predicting the price movement of crypto assets in the market. It provides all the necessary information needed to predict the price movement of crypto assets.
The Trading view site has technical indicator tools that makes it unique and accurate in trading. Technical indicator tools such as relative Strength index (RSI), moving averages, vortex indicator, volume and many more.
With trading view, a user can have access to so many information from different users with the help of the community feature. Which also add to their predicting accuracy and understanding as well.
With all the above mentioned, it is always advisable to have a background knowledge about any indicator you want to use before choosing to use it. You might get wrong analysis with confusing yourself with some of these indicators. So it is always good to make a research on the indicator you want to use to get a little understanding of it before using it in analyzing your work.
To conclude with, i will say trading view is a good and a reliable site that provides its users with technical indicators that they can use in predicting the movement of crypto assets. It also provides them with technical analysis of the market information.
It is one of the largest and good trading platforms due to it unique features that users use to predict the trend of the market. It is also a social platform where users can share ideas with each other to enhance their trading skills.
Thank You All
Respected first thank you very much for taking interest in SteemitCryptoAcademy
Season 3 | intermediate course class week 7
in question 3, you did not apply chart setting very well, you did not use tools very well, screenshot not showing very well,
thank you very much for taking interest in this class
Thanks for the review