Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
TradingView: The Best Cryptocurrency Charting Platform
TradingView is a U.S.-based provider of financial markets data charts and analysis. You can access the service via a mobile app for iOS, Google Chrome Browser App, and an Android application.
The cross-platform charting product from TradingView is a significant milestone for the cryptocurrency trading industry. It allows users to get an in-depth analysis of multiple cryptocurrencies alongside alerts about developing news within the digital currency sector.
This guide examines the crypto trading platform to unravel how it can be a useful tool to enhance your crypto trading endeavors.
TradingView Features and Tools
TradingView is ideal for both beginners and advanced traders. In addition, the platform has developed several vital tools to help crypto investors simplify and analyze the market.
Cryptocurrency Charts
Users can access numerous cryptocurrencies alongside their trading charts and conveniently search for their preferred coins on any exchange on the platform. For example, enter BTC/USD or any other pair in the search bar if you are looking for Bitcoin. TradingView will then display a list of all supported exchanges, after which you can select the one you want to analyze.
The available cryptocurrency charts offer in-depth analysis, time frames, comparison of support and resistance levels, and Fibonacci levels, among other options. In addition, TradingView has an extensive library of technical indicators for cryptocurrencies to help you understand the markets. Click ‘Insert Indicator’ to add an indicator and search for the corresponding tool.
Suppose you are a beginner in crypto trading. In that case, the paper trading simulator is a handy feature designed to help novice traders through the whole trading experience in a simulated environment. Therefore, you can practice trading strategies with virtual coins before going “all in” with real-life money.
Another of the platform’s highlights is that it provides you with multiple charting options and features. The best thing is that everything is fully customizable. Hence, you can create simple charts to track one or more digital coins and create multiple dynamic charts that actively track your choice of crypto markets.
Market Coverage And Server-side Alerts
TradingView allows you to access all major global exchanges, such as Binance and Coinbase, giving you instant access to unlimited cryptocurrencies such as Bitcoin, Ethereum, and Ripple. The platform also allows accessing all sorts of calendars (economic and earnings calendars), gains, splits and dividends, extended trading hours, time zone options, and custom time intervals.
Server-side alerts are another reason why TradingView is regarded as one of the best platforms of its kind. You can set alerts for a plethora of factors and conditions. You will then get notified when something happens in the crypto markets that meet your requirements.
Moreover, TradingView has a social network feature that offers traders and investors a platform to interact. The social network functionality is a great tool that allows users to share charts and learn about other traders’ ideas on a specific cryptocurrency.
Cryptocurrency Screener
TradingView cryptocurrency screener allows you to scan the crypto market for the best trading opportunities.
To exploit this fantastic feature, click on the cryptocurrency ‘Screener’ tab and choose ‘Cryptocurrency Signal Finder.’ You can then select between tabs Performance/Oscillators and Trend Following.
Under Oscillators, you can find settings related to trading indicators like MACD and RSI. You can then select your preferred exchange, like Binance, or Bitfinex, among others, and narrow down to available options like “buy strong,” “neutral,” “strong sell,” and “any.”
In the next stage, select the timeframe you want to screen. Once done, you can set alerts to notify you when the signal triggers your settings and receive an E-mail or SMS.
How to Use TradingView
TradingView was created to be easy and intuitive for beginners and powerful enough for advanced chartists to master.
TradingView gives you a wide range of charting tools. Each chart shows a horizontal and vertical axis that tracks the digital token’s corresponding timeframe and price, helping traders get the necessary info to make informed trades.
There are several display options for the price on a typical crypto chart, as can be seen in the example below:
Candlesticks are popular in the trading community because more information is available to you as a trader about what buyers and sellers are doing through each trading session. Green candles point to an upsurge in price from the previous candle’s close, while red candles indicate the opposite. Candles provide three distinct pieces of information:
- Opening price.
- Closing price.
- High and low prices for the selected timeframe
TradingView Improving the Crypto Trading Experience
In the recent past, TradingView has been actively involved in enhancing crypto trading by establishing partnerships with top exchanges and financial brokers.
Just recently, on Feb. 18. 2020, FXCM Group, a leading international provider of foreign exchange trading, CFD trading, cryptocurrencies, and related services, launched an API-powered integration with TradingView that allows traders to execute orders directly from the charting platform.
With access to TradingView’s powerful charting tools, advanced data analytics, and user-generated research, customers will now have the option to gather new sources, assess market moves, and trade in real time.
Additionally, Gemini exchange recently integrated popular TradingView’s trading chart analysis service on Feb. 4, 2020, allowing its institutional customers to trade or invest directly through the charting platform.
TradingView has been actively developing recently, expanding support for several crypto indices, including crypto exchanges like Huobi. After raising $37 million in a Series B financing round led by Insight Venture Partners in 2018, TradingView made its first-ever acquisition in April 2019, bringing on board multi-broker trading services TradeIt.
In June 2019, TradingView added the so-called CIX100 index — an artificial intelligence-powered index for the 100 strongest-performing cryptocurrencies and tokens. TradingView also listed the index alongside financial terminals of major global publications like Reuters and Bloomberg.
Conclusion
TradingView is loaded with tools for crypto traders to make their trading experiences the best they can be. The ability to handle both beginner and experienced traders makes the platform stand out.
Traders can access charts, infographics, blogs, and more when they sign up on TradingView. It is a one-of-a-kind website that crypto traders are flocking to in high numbers.
With TradingView, you can track different crypto prices anywhere in real time. Additionally, the free package has enough tools to get you started. Note that tools like technical indicators and Cryptocurrency screeners are vital to maneuver the highly volatile crypto market.
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