Tradingview is a modern financial charting platform. It is fast, reliable, fun, and best of all: it is free. Here is my review
When it comes to financial charting platforms, there is a problem that many charting providers do not address: their platforms not keeping up with modern technology. But not in the case of tradingview.
Unlike other charting platforms – from a technical point of view – tradingview is not based on obsolete technologies such as Flash, Java or Silverlight. What’s the problem with these old technologies? Well, first of all, there is a compatibility problem. More specifically, the lack of it. It is a known fact already that people are ditching PCs in favor of mobile & lighter computers / gadgets – such as tablets, phones and ultrabooks. And there’s no secret to anyone that mobile platforms like the iPad are extremely popular and not really friendly with Adobe Flash, Java and Silverlight charts. We can add dotNet to the list of frameworks not supported on iPads or Android based devices.
And here is where the new HTML5 comes to the rescue, because it is supported on all platforms and Operating Systems. Tradingview is built on HTML5. So it will run just fine on a modern browser, no matter what Operating System you are using.
Here you can find a description of its most visible features. I will briefly discuss some of them.
The charting area and the tools are pretty much standard: you have the tools above and to the left of charting area. A few months ago, all tools were on top of charting area, which made the toolbar kind of bloated. New features comparing to other platforms, on the right toolbar, we have:
- Daily price range – updated in realtime as an horizontal slider. This widget is pretty cool: you can see an horizontal reflection of current daily range – where price is currently vs. the daily high and low.
- Headlines widget – some headlines from DailyFX at this time (if you’re watching the FX charts, not the stocks). It would be nice to include some more headline sources in the future – maybe allow the user to customize it.
- Conversation / chat widget – I presume it is useful when you’re staring at a chart for an extended period of time and look for clues. Using this chat widget you can start conversations with other trader folks watching the same instrument. That’s very nice, as long as spammers don’t ruin the party.
- On the lower toolbar there are the buttons to save and load charts, followed by the screenshot and twitter buttons which you can use to take picture snapshots of charts or share the charts on twitter. Last but not least is the “Publish idea” button. I think this one is the real deal. Once you press it, you will publish the entire chart, including your studies and comments, on tradingview.com. So other traders from the community will have a chance to see it. That’s how you can share your trading ideas and opinions.
But, in fact, I’d like to call this button “the ice-breaker”. It’s the first thing before engaging in the social space of this site. In a nutshell: you publish your ideas, other traders see them, they post comments or follow you, you follow them back and this is how you make new friends. And that’s just great.
- The social part of this platform makes it very useful for collaboration purposes, as you and other people can share charts & analysis.
What I like about tradingview.com
- It is a modern platform and I just love modern stuff. Other charting providers who are still using Java and Flash should get their heads out of sand and learn from the guys at tradingview.
THIS is how you keep up with technology. And I’m thinking about providers like Stockcharts and Barcharts: hey guys, you are still using static pictures in your charting platform. It’s 2012, hellooo ?! There’s a good chance that a random archaeologist will find a chart of yours printed on a paper next to some dinosaur fossils in Nevada Desert.
- Support is excellent. If there’s something you need, just contact them. When I first used tradingview, I included their charting platform on my site here. I remember I had some problems with it and failed to figure out how to fix it. It was not displaying the chart at all. So I went to their support forum and asked for help. Their reply was almost instant and more than that, their developers worked on fixing the platform for me. Thumbs up!
- Social media integration. They managed to create a nice & growing community of traders. That chat widget looks quite promising and the whole idea of sharing thoughts with people watching the same instrument is very cool. I wish them good luck keeping the spammers and snakeoil salesmen away from it, though!
- You can login using your (other) social accounts such as Facebook, Twitter etc.
- It provides tons of instruments: currencies, stocks, futures etc. What’s very useful is that you can add several different instruments in the same chart to compare them. I care a lot about correlation between instruments, such as FX risk-sensitive pairs and the stock indices, so this feature is a must-have for me.
What would make me like it even more
- I’d really like to be able to set the number of decimals. Maybe I’m the only one in the universe – but I really hate the 5th decimal on currency pairs such as EURUSD. I do not scalp, I do not own any HFT bots, therefore I really don’t care about the 5th decimal. I can even survive with two decimals. I hate MT4 for not letting me setup the number of decimals but I’m lucky because there still are a few bucket shops using 4 on majors. But they’ll soon be extinct – most likely.
- One big feature it is currently lacking is the possibility to create a Watchlist / Scanlist consisting of several instruments. Such as this one on Finviz. I have some predefined templates on MT4 consisting of several pairs on daily time frame, several on hourly, 4hrs and so on. I switch through them constantly while searching for interesting trade setups.
- The ability to add/develop custom technical indicators – this is another nice feature to have.
- Native platform for Android and iOS.
- The ability to customize the News Headline widget. Perhaps some traders would like to include my site feed… just sayin` :)
What I don’t like
Sometimes it gets disconnected in the middle of the action. Or sometimes the charts are not loading when I switch them. Not sure if it’s because of my connection / some time-outs or because of tradingview. Anyway, I can live with that – because I am mostly focusing on short-term charts.
Tradingview is by a mile the best web-based charting platform you can find nowadays. It also beats most of the software-based platforms we know. The project is managed by a great team – really nice and helpful guys over there. The social community is growing and I think it stands a good change to become a very nice place to share charts / ideas and learn new things. And the best thing about it is that it is free! I never understood why someone would pay several hundred bucks/ month for an old charting platform while he can get the same charts, if not better, for free.
I highly recommend you to use it.
By the way, even if I am not too active in the public stream yet, you can follow me on Tradingview here.