This is why I thought it would be a good idea to share some of my favorite features on Tradingview (TV). It may also help you if you're new to TV. Although I don't intend to cover the most common charting features on TV I think they would be easy to grasp. These are some of the more obscure features that come in handy when working with charts.
Although this feature isn't specific to TV, I believe it works better on TV than other platforms. Most of you will be familiar with the layout options.
Imagine that you plan to trade Indigo on an intraday basis. Before placing an order, it is important to see how Indigo's prices change over time. Regular practice changes the frequency every 15 minutes to 5 minutes. This serves its purpose but it would be great to see the chart look at different periods simultaneously. This allows you to anchor the market price and gives you a view of the market's current price relative to other time periods. I prefer to see the 1-day, 30-minute, and 15-minute charts simultaneously.
This is possible with your TV. This is how it works:
Click on the "Select Layout" option at the top-right corner to choose a layout that you like. A 3 chart layout is what I prefer since I need 3 charts.
This is the chart layout after you have chosen the layout. All three charts now display the same scrip and the same timeframe, i.e. Indigo's 1-day chart
You should also note that the one on the left is highlighted in the three charts. This is obvious with the blue border.
Next, you will need to adjust the time between the three periods. Personally, I prefer to keep the left panel at the frequency that my trades are taking place. 15 minutes, the right panel on the top would be 30 minutes and the right panel on the bottom would be one day. Click on the chart to change the time-frequency. The chart will be highlighted and a blue border will appear. The frequency can be changed by clicking on the red arrow.
This layout allows me to see the price behavior across all periods in one shot.
This setup will allow you to do many cool things once you have it. The crosshair here is synced.
When you place your crosshair on a price point, it appears simultaneously across all time frames. This allows you to see how price action is spread across time periods.
If you only want to see one of the charts, click the toggle button at bottom. To help you concentrate better, this will blow out any chart.
Annotating the chart and making notes can be done. You can also make it visible for a specific time. If the chart at the end of the day suggests a double top, I will keep my shorts on hand. This is the end-of-day chart. This chart can be annotated by me. Select a text box by clicking on the text options
Drag the text box to the desired time period and start scribbling.
This is because of the multi-timeframe functionality. It's my opinion that intraday trades are easier.
This is a great feature. This one is a fun feature that I really like. It allows me to place trend lines and other indicators that don't make sense.
You can delete the trend line in TV and other platforms if you need to remove it. This can be done in TV with one click. The undo function only undoes the most recent action.
Another cool feature is this. Visibility settings allow you to visualize a specific drawing or trend line for a limited time period. This is an example Fibonacci Retracement at the End of Day Chart.
Now I convert this chart to an hourly one. I still can see the Fibonacci Retracement.
This can cause distractions as the study might not be relevant for this time frame. This feature is available on TV. It allows you to limit the study to the appropriate time frame. The study will not appear if you change it.
Double-click on the study to invoke the settings.
Here I have specified that the study should only be visible at the end the day chart. This means that if I change the frequency, the study will not be visible.
This is a really cool one. How many times have we been in situations where we wanted to know how the stock market behaved on a particular date at a specific time? Let's assume that I would like to know what Infy did at 12:30 pm on January 2, 2019, Jan 2019. You can usually find the date by scrolling through the charts. After a few trials and errors, you will eventually find it. TV comes with a 'Go to' feature that makes it easy. This feature can even take you to the exact candle on an intraday basis.At the bottom of the chart,one can find that.
Here is the March 5 th candle at 12:15 pm.
How many times have you made a meaningful chart that has accumulated a lot of research? It's tempting to share the chart with a friend on what apps or tweet it, but instead you end up taking a screenshot. This can lead to a very ugly output. This can be avoided by viewing the chart on television and taking high-quality photos.
All you have to do to get the image is click on "Alt + S" -
You will have the option to save or tweet the image.
This chapter will remain open. As I find new interesting features, I will add them to this chapter.Let us know if you have anything to share in the comment section below.
Have a Great Trading!!!!!