Some cool features on Tradingview!Many times we search for holy grail strategies that works and we tend to ignore some little stuffs that can help us defeat that 'Goliath', the giant market. We all know that there's no such thing as a 'holy grail' strategy. There are only certain things (simple things) that needs to be combined and when used well these can be good strategy to help us defeat that furious Goliath.
In this article I am going to discuss about some cool tradingview features which are important to every trader and which we should not dare ignore. You might be familiar with these or perhaps already use these in your day to day trading activity.
The first one is Alert.
This feature allows you to set alerts on certain levels of interest or price. Once the market reaches the price or level you specified you get notified immediately by visual popups, audio signals, email alerts and email-to-sms alerts. You can set alerts like, "Alert me if Bitcoin crosses above $25000."
You can set alerts on your trendline, indicators like moving average and once the market touches the desired level of your indicator you receive a notification. How cool is that!
Instead of you watching the chart 24/7 to wait for Bitcoin to reach $25000, you can set an alert on that level so you get notified once price reaches there. Why alerts relevant in trading? Just like you need alarm in the morning so you don't miss an important appointment, you need alerts so you don't miss important trading opportunities. Alerts have really helped me to focus on quality trades. All I do is set an alert in advance if I see that Gold will reach a strong support in few days, because there can be a lot of interruption. Once Gold reaches the support level I get notified.
Go have fun with your friends buddy, just set that alert and be notified once the market reaches your desired level.
The second feature is Replay
Replay tool on tradingview can be used to study past price action and trading history.
Why is this feature relevant?
Well, if you want to master your strategy one way to do is to study historical data or price action. With the replay tool it can allow you to go back moment in time and replay the same price action that occurred in the past. That way you can practice your strategy and see how you could have traded that market.
The third feature is News/Headlines
If you want to receive news and headlines of what is shaking the market then you should not ignore this feature. With just a click of a button you can view important headlines that is moving the market. What I find interesting about this is, the news or headlines you see is specified by the instrument that you are currently viewing on the chart. For example, if you are currently on EURUSD, once you click on the news icon, most of the headlines you will see there are those that will have a direct impact on that pair. How beautiful is that! Instead of you having to struggle to search for fundamental information affecting the market, this feature has everything you need to stay on top of financial news.
The last feature in this article is Screener.
Screener is a tool that can be used to scan and filter instruments based on market cap, dividend yield, volume to find top gainers and most volatile instruments.
Why is this important?
If you want to learn which instruments are gaining or weakening then the first place you need to go is to the screener. By looking at the stock screener it helps me gauge how the stock markets are doing thus it helps me have informed decision as to what to focus on and it helps me have strong conviction in my biased.
Do you use these tools in your trading?
Note: Some of these features you need to have a paid plan with tradingview for them to be enabled.
