Today we successfully added a new Charting Software Provider Review: TradingView.
TradingView is a web-based charting software and social trading network designed by the founders of the famous charting software MultiCharts. TradingView offers the complete functionalities traders are used to with premium desktop charting systems and works super fast and easy. Apart from this, the TradingView social community can help you gain trade ideas, share these and apply automatic trading systems.
The difference between TradingView Free and the paid account types is not so big as most people would expect. If you look quickly, you see that most free members enjoy the same features as the paid members at TradingView. Most swing traders and investors wouldn’t miss any feature. Only an active day trader might not be able to trade optimally without a paid account.
A limited amount of charts per layout, a limited amount of indicators per layout, the lack of extended trading hours data, a lower data flow and some other marginalized features are what makes the difference between a free account and a paid account.
TradingView Paid Account Types
The paid account types on TradingView look quite the same if we look at the features. The difference in paid accounts are the better core features at more expensive account types. If you would upgrade, for example, from Pro+ to Premium, you are able to display 8 charts per layout instead of 4. Also, you can draw up to 25 indicators on the chart instead of just 10. Some special features are exclusive to paid account types. For instance SMS and email alerts are only available to paid account types.
The reason why we, at Choosebroker.com, have paid accounts at TradingView is because we then have access to more features. We were personally upset we only had access to three indicators, which made us remove one every time we wanted to draw or use a fourth. We also wanted to test out some volume profile strategies, like Japanese momentum charts like Renko.
In general you can, if you have the money for it, spend between $100 and $400 a year to improve your workflow and expand the features of your charting software.
If you’re a new trader or trading with relatively small amounts of money, a paid account at TradingView is unnecessary and you can just use a free account. Whenever you start trading consistently profitable, spending a couple hundred dollars on a yearly basis to improve your workflow shouldn’t really matter and TradingView paid accounts could eventually be quite a good investment.