Get started

Informational

Informational: Using TradingView ideas to gauge market sentimentTradingView, being one of the leading charting platforms, boasts a vast and active community of more than 50 million users. One noteworthy feature that many users may be unaware of is the ability to display ideas shared by other users directly on their charts, without the need to navigate to the separate Ideas tab. This feature enhances convenience and streamlines the chart analysis process. By enabling this feature in the settings, users can choose to display only their own ideas or opt to view all ideas shared by the TradingView community. This functionality provides a seamless integration of community insights and analysis directly within the charting interface, facilitating easier access to diverse perspectives and trading concepts shared by fellow users. Once this feature is enabled, it provides an additional visual element to the chart by assigning colors to indicate the bias of each individual sharing ideas on a particular symbol. This color-coded information can be valuable in helping you determine your own bias for that specific symbol. By observing the color associated with each user's ideas, you can quickly assess whether the majority of users have a bullish (teal) or bearish (red) bias for that symbol. This can serve as a helpful reference point when forming your own analysis and making trading decisions. Having access to the collective sentiment of the TradingView community through color indicators adds an extra layer of information that can contribute to your overall market perception. 🔶 How to enable: Go to settings > Events > Ideas on chart > All Ideas After enabling this feature, you will begin to see ideas posted by other users directly on the symbol you are currently viewing. It is important to note that these ideas are specific to the timeframe you are analyzing and the ticker feed you have selected. To maximize the benefit of this feature, it is recommended to visit a popular exchange where ideas are frequently shared by the TradingView community. Additionally, switching to the daily timeframe can provide a broader range of ideas for your analysis. This timeframe often attracts more user-generated ideas, offering a wealth of insights and perspectives to consider. By combining these two suggestions—exploring popular exchanges and utilizing the daily timeframe—you can leverage the full potential of this feature and gain access to a wide range of valuable ideas from other users within the TradingView community. In addition to the previously mentioned tips, it can be beneficial to hide the chart symbol and adjust the scale of the chart for optimal viewing. By hiding the chart symbol, you can remove any distractions and focus solely on the chart itself, allowing for a clearer analysis of the price action and indicator data. 🔶 How to use this data The aggregation of ideas in this manner provides you with a valuable tool to gauge the sentiment for each specific day. The color-coded system further enhances the clarity of this sentiment analysis. A red color indicates a bearish idea, while teal/blue represents a bullish idea. An orange color indicates a neutral stance from the trader. By observing the distribution of colors on a given day for a particular symbol, you can gain a clear indication of what users within the TradingView community are thinking about that symbol. For example, if there are six bullish ideas and two bearish ideas, it suggests a strong bullish sentiment among users. Conversely, if there are six bearish ideas and two bullish ideas, it indicates a prevalent bearish sentiment. This aggregated sentiment can serve as an additional factor to consider when forming your own analysis and making trading decisions. It provides insights into the collective view of other traders and helps you understand the prevailing sentiment for a particular symbol on a given day. And here is how this played out on the candle stick chart
COINBASE:ETHUSDEducation
by ChristopherDownie
Informational: Market Screener: How to useContinuing with my objective of shedding light on the often overlooked and undervalued functionalities offered by the platform, I am delighted to delve into the market screener. This sophisticated tool stands as a testament to TradingView's commitment to empowering traders and investors by providing them with a comprehensive solution to efficiently navigate through an extensive array of financial symbols. By leveraging the market screener, individuals can effortlessly identify and unearth assets that align with their specified criteria and prerequisites. TradingView offers users two simple yet effective avenues to effortlessly access the powerful market screener tool. 🔹1st : The first method involves navigating the TradingView website, where users can easily locate the "Product" tab and select the desired option, such as "Screener" for Forex, Crypto, or Stock 🔹2nd : The first method involves navigating the TradingView website, where users can easily locate the "Product" tab and select the desired option, such as "Screener" for Forex, Crypto, or Stock. Once you've selected your desired screener, maximize the windows and you will see a list of options and features. Lets explore them. NB: Depending on the screener you currently have selected you may have more or less options. For simplicity we are using the forex screener. But the general features are applicable regardless of the screener selected. 1: This functionality enables you to navigate a range of preconfigured parameters, including options such as "trend following" and "oscillators." As a result, the metrics will be dynamically adjusted to reflect the values associated with the chosen preset. 2: This section displays the metrics utilized for filtering purposes. By hovering your cursor over a particular metric, you can modify its settings for future use. For instance, you can select "BB," representing Bollinger Bands, and define specific values for the desired BB configuration. It is worth noting that filtering can only be applied to price data that exceeds the median line, as an example. 3: This section allows you to modify the indicators utilized for the filtering process. Through this option, you have the ability to add or remove filters according to your requirements. 4: This section enables you to apply filters to the symbols or tickers being utilized. As you are currently utilizing the forex screener, you have the ability to filter the symbols based on categories such as major pairs, minors, and exotics. This allows you to focus specifically on the desired subset of forex trading instruments. 5: Offers an advanced filtering feature that provides you with a wide range of over 50 options. These options are designed to assist you in refining your search results to precisely match your specific criteria. This advanced filtering capability enables you to locate the exact information or data you are seeking with a higher level of precision and customization. NB: You also have the flexibility to adjust the timeframe for which you are applying the filters. 🔶 How to practically use this in your trading. During your preparations for the trading week, you may want to create a watchlist of stocks or currency pairs to monitor and annotate. In this scenario, you are particularly interested in currency pairs that are currently exhibiting oversold conditions on the Relative Strength Index (RSI) below 30, and are trending below a 50-day moving average. You specifically want to focus on major and minor pairs. By inputting these criteria into the screener tool, it will generate a list of currency pairs that meet these requirements. This allows you to easily identify the pairs that align with your desired conditions and further analyze them for potential trading opportunities throughout the week. and just like that the screener has returned the pairs that meet my requirements Please be aware that the screeners for cryptocurrencies, stocks, and forex on TradingView share a similar structure and functionality. Consequently, the information provided in this publication will be applicable to all three types of screeners. However, it is worth noting that TradingView has recently introduced the Stocks Screener 2.0, a more advanced version with a broader range of metrics. In the future, I will be publishing another guide specifically dedicated to the Stocks Screener 2.0, which will explore its enhanced capabilities and additional features in detail. Another noteworthy feature to include in this publication is the Hotlist feature, specifically designed for stocks. This feature provides a pre-made watchlist of stocks that is updated daily. If you are seeking a convenient and ready-to-use watchlist of stocks for your trading activities, the Hotlist feature proves to be extremely beneficial. It saves you time and effort by curating a list of potentially interesting stocks on a daily basis, ensuring that you stay up-to-date with the latest market opportunities without the need for manual research and compilation.
FX:ETHUSDEducation
by ChristopherDownie
2
Informational: SPARKS, meticulously crafted watchlistTradingView provides a wide array of features, and it can sometimes feel overwhelming to grasp them all. However, one particularly valuable but often overlooked feature on the platform is SPARKS. These specialized watchlists, curated by TradingView, offer an effortless way to monitor and follow specific industries within the market. It is important to note that while SPARKS can serve as a useful starting point for research, they should not be regarded as comprehensive representations of an entire industry. They provide valuable insights, but additional analysis is recommended for a complete understanding. Now, let's delve into the process of accessing and utilizing SPARKS effectively. 1: Load the TradingView website and look towards the top you will see "Market" Hover your cursor over the markets tab and then hover over "SPARKS" You will now see a list of preliminary categories Lets select "Work" for testing purposes 2: You are now presented with a list of additional categories showing anything having to do with work and employment. You can also see the performance of each portfolio listed below the portfolio Currently A.I is a major topic of discussion. Lets go ahead and look at the A.I portfolio named : " A.I Stocks: RISE of the machines" 3: You are now presented with a overview of the portfolio and a option to save the watchlist which will add it to your watchlist tab to the right. : If you continue down you will now see information regarding the performance of the portfolio and as you can see for this portfolio year to date performance is up by 30% Tradingview also shows you the distribution of the sectors used in the portfolio: Below that you will now see a list of all the individual symbols and you can filter by type and sector You can also select specific symbols to compare their performance, below I have selected Nvidia, Microsoft and good to see their 1 year performance in the portfolio. This feature will also filter the news by only showing you news evens directly related to the symbols in the portfolio. : And finally you can create your own custom watchlist and click on the button shown below the see the performance of that portfolio just the same. The SPARKS feature on the platform is an incredibly valuable resource that often goes unnoticed by many users. It is highly recommended that you take the time to thoroughly explore the numerous SPARKS portfolios that are readily available. By doing so, you can unlock a wealth of useful insights and enhance your trading experience.
BITSTAMP:BTCUSDEducation
by ChristopherDownie
5
INFORMATIONAL : THE UPSURGE OF PROPRIETARY TRADING FIRMS There has been a recent upsurge of CFD prop firms appearing. These prop firms offer traders the opportunity to trade with their capital and earn a percentage of the profits. But are these prop firms better than trading with a broker? And what are the risks and benefits of joining them? In this publication, we will explore these questions and more. 🔹What are CFD Prop Firms? CFD prop firms are different from traditional prop firms in several ways. Traditional prop firms typically employ traders and give them access to proprietary trading tools and tactics as well as training and coaching. Contrarily, CFD prop businesses fund traders once they successfully complete a task or audition rather than hiring them. Typically, the audition entails paying a fee and achieving specific trading goals within a predetermined time span. A profit target, a maximum drawdown limit, a daily loss limit, and other risk management guidelines could be part of the trading objectives. If a trader passes the audition, they will receive a funded account with a certain amount of capital, ranging from $10,000 to $1 million or more depending on the prop firm. The trader can then trade with the prop firm's capital and keep a percentage of the profits, usually between 50% to 80%. The prop firm will also monitor the trader's performance and enforce the same trading objectives as in the audition. If the trader violates any of the rules or loses too much money, they may lose their funded account or have to start over. 🔹Benefits of Joining a CFD Prop Firm Joining a CFD prop firm gives traders access to more capital than they would otherwise not have, which is one of the key advantages. As a result, they may be able to trade more instruments, diversify their portfolio, and boost their earning potential. Another advantage is that the trader's downside risk is diminished because they are just putting their audition fee at danger and nothing more, not their own money. Additionally, certain prop companies provide extra advantages like coaching, education, community support, scaling plans, and bonuses. 🔹Drawbacks and Challenges of Joining a CFD Prop Firm However, joining a CFD prop firm also has some drawbacks and challenges. One of them is that it can be difficult to pass the audition and maintain the funded account, as some of the trading objectives can be very strict and unrealistic. For example, some prop firms require traders to make a 10% profit within 30 days while keeping their drawdown below 5%. This can put a lot of pressure on traders and force them to overtrade or take excessive risks. Some prop companies may not be transparent or reliable and may not actually supply real money to trade with, which is another disadvantage. Instead, they might run a Ponzi scheme or use the audition fees to distribute the earnings. Therefore, before joining any prop firm, traders should exercise due diligence and investigation. The repute of the prop firm, regulation, fees, profit splits, trading products, leverage, platform, customer support, and withdrawal procedures are a few of the variables to take into account. Finally, another challenge is that having more capital does not necessarily mean being a better trader. Trading with more money can also increase the psychological pressure and emotional stress that traders face. Therefore, traders need to have a solid trading plan, strategy, discipline, and risk management skills before joining a prop firm. They also need to be realistic about their expectations and goals, and not rely on prop firms as a shortcut to success. 🔹Conclusion In conclusion, CFD prop firms can be a viable option for traders who want to trade with more capital and earn more profits while limiting their downside risk. However, they also come with some challenges and risks that traders need to be aware of and overcome. Therefore, traders need to weigh the pros and cons of joining a prop firm versus trading with a broker based on their own circumstances and preferences. Trading with a CFD prop firm can be a great opportunity for traders who have a proven track record of profitability and want to leverage their skills to make more money. One of the main issues is that the CFD prop industry is heavily unregulated and lacks transparency and accountability. This means that traders may not have legal protection or recourse in case of disputes or frauds. Moreover, some prop firms may impose strict rules and conditions on their traders, such as high fees, unrealistic targets, or limited withdrawal options. Therefore, before signing up with a CFD prop firm, traders should always conduct their due diligence and research. They should search for reputable and reliable prop companies that have a good track record, transparent terms and conditions, and equitable profit-sharing plans. Additionally, they should contrast various prop businesses and pick the one that best matches their trading preferences, objectives, and style. Additionally, traders should keep in mind that the best option to guarantee complete control and security over their trading activity remains opening their own trading account with a reputable broker.
PEPPERSTONE:BTCUSDEducation
by ChristopherDownie
15