Trading crypto can be one of the most profitable endeavors if you’re able to do it successfully, but it’s also one of the most difficult.
TradingView offers the most advanced platform available to the public, giving you access to real-time charts and detailed market analysis so you can make informed trading decisions—but only if you know how to use it properly!
This guide will give you step-by-step instructions on how to trade crypto on TradingView, enabling you to explore every facet of crypto trading without leaving your browser!
So let’s get started
Table of Contents
What is TradingView?
Tradingview is a web-based charting platform that offers a wide range of features for technical analysis. With the platform, you can create charts, analyze crypto pairs and, some of the time, place your orders directly on the platform.
In addition to the above features, it serves as a social network for both traders and investors. With its social networking service, traders and investors can communicate with trading partners, other beneficial tools, and also market news.
You can either use the browser base version of the platform, or decide to download it for mobile, IOS, or desktop devices. Each version has all the necessary charting tools.
How Much Does Tradingview Cost?
Tradingview is free for everyone. Although the pro account can give access to higher services, with the free account, you have access to the charting tools, access to use three indicators in your analysis and many others services.
However, you need a pro account to access advance services like Multiple charts, layouts, and customs time intervals.
Tradingview pro-account cost between $14.95 and $29.95 per month. Traders who want to screen even more markets can use TradingView Premium for $59.95 per month.
You can even get a discount of 16% if you are doing a yearly subscription.
Making Use of the Tradingview Social Network
Tradingview has a social networking feature where traders can share trading ideas and strategies. These tips will be displayed in a feed like a social media feed where others can stream and pick up ideas.
In this feed, you can see comments, videos, and charts set up by other users. This helps you have a closer relationship with other investors and traders without any distance barrier.
How to Use The TradingView Charting Tools
If you are not familiar with charting tools, then using the tradingview UI might be intimidating to you. Let me show you how to use the Tradingview charting tools.
Section 1:
This section holds the charting tools obtainable in the format. There, you will see the trendline, position tool, add text to the chart, zoom in and many other functions. You can hover over any of the icons found there to see a tool tip on what the particular tool is used for.
Section 2:
In the second section, you will find an option to change the candle type, select your preferred timeframe, or even set an alarm. As always, you can hover over any of the icons to see a tool tip on what the tool is used for.
Also in the section, you will find the option to add an indicator to the chart. If you are using a free account, you will be allowed to add a maximum of 3 indicators to the chart.
Section 3:
This is the section where you will be able to connect to your broker or test your strategy on the platform.
The “Trading Panel” tab in this section allows you to trade since TradingView doesn’t provide a brokerage service. If you click on the tab, you will be taken to a page to select your broker and connect it to Tradingview. If you don’t have any broker account before , you can create a new one from there.
Recommended: How to connect Broker to TradingView
Additionally, you can use the “Strategy Tester” feature to backtest your strategies.
Section 4:
In this section, you will find news and social elements. In addition to that, you can customize your watchlist, connect and explore ideas from other users. This section is more for information and data gathering.
Section 5:
When you select any pair that you want to trade from the watchlist or start making use of those tools available on the platform, it will take effect on the charting area, which is the one labeled section 5.
How to Trade Crypto on TradingView
To trade crypto on Tradingview, you need to open an account, integrate your crypto exchange with the platform, and start trading. Here is a step-by-step guide on how to trade crypto on Tradingview.
Step 1: Login to your tradingview account.
Before you can trade crypto on TradingView, you need to set up an account. You can do this by going to the website and clicking on the “sign up” button. If you already have an account with them, then you need to login.
On the tradingview homepage, locate the “profile icon” and click on “sign in.”
Then input your credentials to log into your account.
If you don’t have an account with them yet, you can click on the “get started” button to create one.
Step 2: Connect your Broker to Tradingview
After setting up an account, the next step to trading crypto on tradingview is to connect your broker to the platform. Not all brokers can be connected to TradingView. If you are not sure if your broker can be connected to Tradingview, check our article on the list of brokers that can be linked to Tradingview.
If your broker is not among the list, don’t worry. Skip this step and move to next step.
Connecting your broker to Tradingview is very simple. First you need to open the charting page, navigate to the trading panel, select your broker, and complete the process by logging in to your broker.
Recommended: How to connect Broker to TradingView
Step 3: Import Your Exchanges Watchlist.
After you have connected your broker to Tradingview, the next step to trading crypto on Tradingview is to import your exchange watchlist. You can import your exchange watchlist by looking for a website that updates your broker’s watchlist daily, downloading and importing it by navigating to watchlist>Import watchlist.
Note: You can only import watchlist if you are using a tradingview pro account.
Alternatively, you can access your broker’s watchlist by tapping on the “add symbol” button and typing in the name of your exchange. For the example in the image below, I have tried to access Binance Watchlist.
Then select the list of pairs that you want to add to your watchlist.
Recommended: How to Integrate Binance to tradingview.
Recommended: Step 4: Do your Technical analysis and place your trade.
In order to trade crypto on TradingView, you’ll need a few prior knowledge. First, you’ll need a strong understanding of the market and what drives prices up and down. Second, you’ll need to be able to read charts and identify patterns. Third, you’ll need to know when to buy and sell. You can find more tips on technical analysis here.
Once you finish your technical analysis, you can go ahead and place your order on the platform (if your broker is supported) or visit your exchange’s official website to place your orders based on your technical analysis.
The Benefits of Trading on Tradingview
Trading on Tradingview comes with many benefits, such as:
- 1. It is very safe and secure.
- 2. You can place an order directly with your broker.
- 3. You can set an alarm with alarm tools.
- 5. You have access to many indicators
- 6. It supports over 1500 crypto pairs.
- 7. It can be accessed on mobile.
- 8. You can share ideas with other traders.
- 9. It is more secure and safer.
Conclusion
Overall, using TradingView to trade crypto is a fairly simple process. However, there are a few things that you need to keep in mind. First and foremost, make sure that you have a clear understanding of the market and the assets that you’re trading. Secondly, always use stop-loss orders to protect your capital. And finally, don’t be afraid to take some profits off the table when the market is going your way.