Trading is a serious business, and most people want to excel at it. However, no matter how experienced one is, expert analysis tools are always needed to make informed trading decisions. That’s where TradingView comes in as a popular and best trading app in India.
This article discusses how to up your trading game by using TradingView’s features to conduct technical analysis.
The Advantages of TradingView as Your Trading App in India
TradingView is one of the top-rated trading apps in the world, and for excellent reason. It’s an all-in-one platform that provides traders with credible market data on various global exchanges. TradingView is a web-based platform that functions on all devices, has an easy-to-use interface, and is accessible anytime and anywhere. Another standout feature is its free access to valuable tools such as charts, technical analysis tools, and global economic calendars.
TradingView Features that Make It the Best Choice for Traders
TradingView has various features that make it an exceptional trading tool. First, it offers access to numerous markets including equities, futures, options, forex, and cryptocurrency pairs. Additionally, TradingView provides users with real-time streaming data and trading volume data on multiple live charts, which is a priceless benefit for any trader.
TradingView has an incredibly user-friendly interface that makes traders’ lives easier. The user interface is well-organized, easy to navigate, and offers an array of customization options, such as personalized dashboards and chart preferences. This feature offers traders flexibility and control over the type of data they want to consume when trading in India’s diverse markets.
Another value-adding feature is TradingView’s social trading network, which allows users to share ideas and collaborate with other traders on the market. Traders can also view and comment on trade ideas from other experts, making it ideal for collaborative trading experiences.
How to Use TradingView for Technical Analysis
TradingView offers a broad range of technical analysis tools, including over 100 pre-built charts as well as customization options to tailor the charts according to the trader’s preference. TradingView’s most useful technical analysis tools are indicators, drawings, and patterns.
Indicators on TradingView are mathematical calculations derived from historical pricing data, which are super helpful in forecasting future price movements. There are over 100 indicators available on TradingView that are highly customizable, allowing traders to combine and refine them to suit their analysis.
On the other hand, drawings on TradingView are chart annotations that analysts can use to identify trends and support/resistance levels on live charts. Users can use vertical lines, horizontal lines, and trendlines to mark up their charts and communicate their findings and predictions. These drawings are highly customizable, and TradingView allows users to create complex drawings easily.
Finally, patterns are useful technical analysis tools that help traders identify trading opportunities to maximize potential profits. TradingView includes auto-generated pattern recognition tools traders can use to identify bullish and bearish trading patterns, reversals, and breakouts.