Tradingview Review 2023 – Don’t Pay For PRO Until You Read THIS.
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TradingView is a technical analysis charting software for day traders and swing traders.
It’s fast, reliable, powerful, and affordable.
If you’ve used the free version of TradingView (or even if you haven’t) and are wondering if the paid versions are worth it, you’ll get my unequivocal answer in a few paragraphs.
I’ve been a regular day trader for the last 6 years and am also a huge fan of finance software (hence my role at WallStreetZen).
I’ve tested nearly every day trading software and charting platform on the market.
While it may have been a waste of time for me, this TradingView review is the culmination of that “research”.
TradingView is my #1 choice for charting software. And it’s not even a close race.
In this TradingView review, I’m going to cover why it’s the best, what you can do on it, what you can’t do on it, how much it costs, and how to get started with a 30-day free trial.
And as is the case with all my review articles, we start with the conclusion:
Is TradingView Pro Worth It?
The Bottom Line: Yes, TradingView Pro is worth it (though I recommend you use TradingView Pro+, more on that later).
TradingView is the best charting platform in 2023 because of its comprehensive feature set, speed, ease-of-use, coverage, reliability, and extreme affordability. It’s the best solution for new and veteran traders alike.
If you’re a day trader, the Basic (free) plan will not be enough. You need to upgrade to a paid plan or use another software.
Accessibility: 5/5.
Quality of Research/Analysis: 4/5.
Price: 4.5/5 (TradingView Pro+ costs $17.95/month when billed annually)
What is TradingView?
TradingView is a comprehensive charting platform used by more than 30 million traders.
It allows traders to chart, add indicators, and analyze real-time data to accurately predict stock price movements and profit from short-term price changes.
TradingView was primarily built for stocks and ETFs, but has recently added coverage for cryptocurrencies. You’ll find financial derivatives like futures and CFDs, too. While you’re at it, be sure to check out the best platform for CFD trading.
In addition to its key charting features (covered below), TradingView offers paper trading (virtual trading to hone your skills before risking real money), fundamental data, broker connections, and more across its browser-based application, iOS and Android apps, and desktop software.
Who is TradingView For?
TradingView is a platform for active traders to perform technical analysis primarily on stocks and crypto.
While long-term, fundamental investors may want to do some basic charting for entry/exit points (which they can do with the free version of TradingView), they’re not who TradingView is built for.
Here’s what TradingView does really well: It’s easy-to-use for new traders who are learning about different indicators, trading strategies, and developing their own unique style while being exceptionally powerful for traders with decades of experience and their own custom scripts.
Key Features of TradingView:
I mentioned this above, but it’s worth repeating: If you’re a day trader, the Basic (free) plan will not be enough. You need to upgrade to a paid plan or use another software. I’ll cover the limitations in each of the categories below.
TradingView is absolutely packed with features while maintaining an exceptionally sleek interface, which is why it’s the perfect solution for both new and veteran traders.
Here are a few of TradingView’s key features – if you’re interested in everything it has to offer, head to their website for more details.
Charts and Technical Analysis.
Charting is the reason you’re considering investing in TradingView, and you won’t be disappointed.
There’s A LOT to unpack here, so I’m just going to cover the highlights.
You can choose from:
14 Chart types 20+ Timeframes 90+ Drawing tools 100+ Pre-built indicators 100,000+ Community-build indicators 70+ Exchanges from 50+ countries.
However, when it comes to actually using these features (especially in combination), you’ll be severely limited by a Basic plan. First off, here are the chart limitations:
And here are the technical analysis limitations:
There’s really no question: If you’re serious about your trading, you need to upgrade. Fortunately, you can experience TradingView’s full capabilities risk-free with a 30-day free trial.
Screeners.
Beyond your few favorite assets you like to trade, you need a way to quickly sift through thousands of securities for potential trades.
Stocks Forex Cryptocurrencies.
There are endless filtering options for each screener based on whatever criteria and quantitative data you find most important. Notably, you can filter by technical indicators.
For example, you can filter by stocks with an overbought RSI if you want to look for potential short opportunities.
The screeners also include TradingView’s Technical Rating which ranges from Strong Sell to Strong Buy. These ratings are calculated based on measuring the interplay between a number of technical indicators.
When you’re finished, hit the export button to download the data into a CSV for further analysis.
Here’s the feature comparison across plans:
Alerts.
Most traders follow many stocks at once – you need to in order to find the best setups to trade.
But it also gets overwhelming, and constantly switching between different assets can be a large mental drain.
TradingView solves this problem by offering server-side alerts. These alerts allow you to set price alerts on the assets you’re following around key support/resistance levels so you can be notified when a stock is approaching or leaving a major price.
I use alerts all the time so I don’t drive myself crazy switching back and forth between every stock in my watchlist.
The total number of alerts is the key limitation by not upgrading:
Community.
Trading is really hard. Plus, it can get lonely.
On TradingView, you can easily share your ideas with other experienced traders and see what strategies are working for profitable veterans.
Sure, reading books on technical analysis and practicing with paper trading is beneficial, but one of the best ways to improve your trading is by learning from others and having them test your assumptions and strategies. This is one of the fastest ways to pick up on the nuances of trading, which is often the difference between profits and losses.
In TradingView’s Trade Ideas section, millions of traders are posting their trades and setups they’re looking to enter. This is one of the fastest ways to level up your trading skills and discover new technical analysis techniques.
Beyond improving your technical trading skills (pardon the pun), you’ll also learn about risk management, trading styles, market interpretation, trading plans, and so on. Though these “soft skills” are less talked about, experienced traders know the vital role they play in consistent profitability.
TradingView’s Community gives you direct exposure to learn every facet of effective trading from some of the world’s best traders.
Other Features.
Here are a few other notable features:
Assets: Stocks, futures, commodities, forex, CFDs, cryptocurrencies Markets: Most major indices and 50+ exchanges Broker connections Web-based platform and desktop and mobile apps Bar replays Paper trading Enhanced watchlists Fundamental stock data Backtesting Trade ideas Chart exports Heatmaps Real-time, global news Earnings calendars.
TradingView Pricing: How Much is TradingView?
You can use various features for free within the Basic plan, but traders will want to upgrade to a paid plan: Pro, Pro+, or Premium.
These paid plans will give you access to more indicators, multiple charts, custom time intervals, advanced chart types, and more – all the bells and whistles. Each of these paid plans is extremely affordable and a great value, but only one is the best option. TradingView also ranks #1 as my best platform for swing trading.
My Opinion: TradingView Pro vs Pro+
Volume Volume Profile RSI MACD 2 EMAs and a MA.
The Premium plan unlocks even more functionality, but it’s total overkill in my opinion (unless you’re running a trading firm or some other business using TradingView’s software). For just $17.95/month (when billed annually), TradingView Pro+ is the best charting subscription in 2023.
If you use fewer indicators than I do and don’t need as many charts in one window, TradingView Pro is an excellent price.
Final Word: TradingView Review.
TradingView is an absolute necessity for my trading. I don’t need an alert service or a bunch of trade ideas. I want a place to chart that’s fast, reliable, and affordable – TradingView is a home run. It has every indicator and analysis tool I need (and much more) and its minimalist design makes trading simple and effective. Plus, it’s extremely affordable. And it’s a great solution for you, too. If you’re still wondering, “Is TradingView good for day trading?”, here’s your answer: Yes it is. It’s trusted by more than 30 million traders because no one can find anything they don’t like about TradingView. Use the link below for your 30-day free trial and experience the difference TradingView makes:
See my full list of tools for traders.
FAQs:
Is TradingView free to use?
Yes, you can use TradingView for free. However, the free version of TradingView comes with a number of limitations (only 1 chart per tab, only 3 indicators per chart, no custom time intervals, etc.) and is not ad-free. If you’re a trader (and not an investor looking for basic entry/exit points), I would highly recommend the 30-day free trial of Pro+.
What is better than TradingView?
In my opinion, nothing is better than TradingView for active day and swing traders who want a fast, reliable, and intuitive charting platform. My favorite alternative is TD Ameritrade’s thinkorswim platform, but only because it’s completely free (for people with Ameritrade brokerage accounts).
How much does TradingView cost?
TradingView has a free plan and 3 paid plans: Pro is $10.50/month, Pro+ is $17.95/month (my recommendation), and Premium is $30/month. *All prices above are when billed annually. You can try any of their paid plans for free for 30 days.
Can you actually trade on TradingView?
Yes, TradingView has broker integration which allows you to trade from directly within the TradingView platform. TradingView currently supports 15 brokers, including TradeStation, Interactive Brokers, and Ally Invest.
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About the author.
Lincoln is an investor and content marketer. He has worked for financial advisors and institutional investors at a publicly-traded fintech company. Lincoln holds degrees in Finance, Economics, and Accounting.