TradingView is a powerful charting platform that offers a wide range of tools and features for traders of all experience levels. One of the most important aspects of TradingView is its chart analysis functionality. Check more on demat and trading account here. Chart analysis involves examining the price movements of financial assets over time to identify patterns and trends. This information can be used to make informed trading decisions.
There are various ways to perform chart analysis. However, some of the most common methods include:
- Technical Analysis: Technical analysis is the study of historical price and volume data to identify patterns and trends. Technical analysts identify these patterns and trends using a variety of indicators and tools, including: Examples: moving averages, support and resistance levels, trend lines.
- Fundamental analysis: Fundamental analysis is the study of a company’s financial statements and other factors to assess the company’s intrinsic value. Fundamental analysts use this information to identify companies that are undervalued or overvalued. Check more on demat and trading accounts here.
- Candlestick charting: Candlestick charting is a type of technical analysis that uses candlestick patterns to identify patterns and trends in price movements. A candlestick pattern is formed by combining the opening, high, low, and closing prices of a particular period.
Start TradingView chart analysis
If you are new to TradingView, the first thing you need to do is create an account. Once you create an account, you can start by adding the financial assets you want to track to your watchlist.
To add an asset to your watchlist, simply click the Add Symbol button and enter the asset’s ticker symbol. You can also add multiple assets to your watchlist by clicking the “Add multiple symbols” button. Check more on demat and trading accounts here.
Once you have added the assets you are interested into your watchlist, you can start looking at the charts. To view the chart, simply click on the name of the asset in your watchlist.
Technical analysis tools
TradingView offers a wide range of technical analysis tools and indicators. To access these tools, simply click on the “Indicators & Strategies” tab at the top of the chart. Check more on demat and trading accounts here.
Some of the most popular technical analysis tools and indicators include:
Moving Averages: Moving averages are used to identify trends and support and resistance levels. Support and Resistance Levels: Support and resistance levels are price levels where buying and selling pressure is typically concentrated. Trend Lines: Trend lines are used to identify the direction of a trend. Candlestick Patterns: Candlestick patterns are used to identify patterns and trends in price movements. Chart analysis tips
Here are some tips for doing chart analysis.
Look for multiple patterns: Don’t rely on just one pattern or indicator when making trading decisions. Look for multiple patterns that support your analysis. Use multiple time frames: When analyzing charts, don’t just look at one time frame. View multiple time frames to better understand overall trends. Combine technical and fundamental analysis: Technical analysis can be used to identify patterns and more.
