Tradingview has become the leading trading charting software in the world, and for good reason. It simply is the best. So, it is no surprise that we often times get asked if we have any tradingview indicator that we recommend. Or, any tradingview tips or tricks.
And for good reason – TradingView has amplified the trading and profitability more traders than any other software (don’t quote us on that, just a hunch based on how popular it is.) So, we have (finally!) created some guides to help you get the most out of TradingView.
We have spent months compiling the most asked questions in order to create my complete TradingView Beginner’s Guide for 2024. This is an extensive look into the charting software that goes over the most useful tradingview indicator andtools that you will likely use.
Head on over to the article and feel free to leave any comments, questions, or suggestions!
Tip #1: Placing Support & Resistance
This is the most frequent question we receive: “How do you place know where to place your support and resistance?”
A lot of people will simply use the horizontal line, but that is actually not the best tool to use. The best tool for this is the Parallel Channel tool, which can be found on any tradingview chart..
This tool lets you have the shaded area which is quite useful for visualizing support and resistance in terms of being an area, not a line.
Simply double-click the parallel channel when you place it and you can change its looks. Tick the Extend box to make your channel extend across your entire charts too!
Tip #2: Risk-to-Reward Ratio Tool
This is one of our favourite tools on TradingView. You get so much information from this simple, easy-to-use tool.
It’s on the left hand side of TradingView, next to tradingview indicator and you can choose either short or long depending on your trade.
You can easily place and adjust this tool directly over the candle’s on your charts. This lets you quickly visualize your trading setup as well as giving you all the information you need for your trade parameters.
There are some cool additions with this tool, such as showing you how much you will lose or gain based on your account size.
Tip #3: Flag Pairs
This is a new feature on TradingView and has quickly become a a favorit of ours here at BullRush Academy.
If you’re like us, you may have quite a few pairs that you track across multiple different time frames. It can get tricky to keep track of everything which is where the flags come in.
There are 5 different colour flags that you can rename and use to categorize your pairs.
One example: we use the green flag for any active trades we have, orange for any potential setups on large time frames, and purple for short time frame setups.
You can categorize your pairs in any way you want. This is a big time saver as you no longer have to note down what pairs you are tracking, which you are trading, and so on.
Tip #4: Bar Replay (Back testing!)
The last handy tool is the bar replay feature.
For those of you that are interested in back testing but get frustrated with the price tags of back testing software, this is great for you.
This feature allows you to essentially replay price’s movement on any pair you want to practice on. Simply hit replay and a line will appear on your cursor.
If you click, it will delete all the candles to the right of the red line.
You can then add candles one at a time or play it at different speeds. Whatever the case, this is a great feature that is smooth to use.
That sums up the tips & tricks for TradingView. Let me know in the comments below if you want to know about some other features of TradingView and perhaps I will do some more videos and guides.
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