Using TradingView for Crypto Trading: Tips and Tricks

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Using TradingView for Crypto Trading: Tips and Tricks

TradingView is undoubtedly one of the best charting tools for trading Crypto. Thanks to the assortment of technical and visual tools, traders are able to analyze and trade the markets with near-perfect accuracy.

The best TradingView broker for Crypto will likely want to rely on their platform’s charting features which serves as a practical purpose. No trader wants to use a charting dashboard with extras that will take away the much-needed quick-reaction demands of real-time trading.

TradingView Charting Features

When traders are in analysis mode, it pays to have a plethora of functions, reports, and tools to help clear your trading perspective—Que TradingView charts for crypto, a proven tool that is helpful to your work on market analysis.

About TradingView and its capabilities

An advanced financial visualization platform, TradingView offers an assortment of chart formats, instruments, media reports, social trading functions, and technical tools. Traders get the chance to customize their TradingView dashboard to match their market analysis preferences.

Chart Templates

A chart template on TradingView is how you want your chart and user dashboard to appear every time you open your platform. You should go for a chart layout that aligns and matches with your style.

With chart templates, you want your crypto trading instruments to be accessible with a click. You can also change the available chart types as you move along.

How to read crypto charts on TradingView

For beginners, the TradingView platform may look like an overwhelming complicated menu with a myriad of buttons situated on the left, right, and top Menus. Despite what seem like complex charts, they are actually easy to read if you know what you’re looking at.

The crypto price chart is the centerpiece of the entire window showing a dynamic array of changing candles. Here’s a closer look at the crypto chart on TradingView and closely dissect each part;

  • The Vertical Y-axis of the graph is the crypto price. Traders can adjust by holding a left-click on the axis and moving the mouse up and down or scrolling where necessary. The price range will also differ depending on the crypto asset which may vary dramatically. An example would be the price of Bitcoin over Ethereum which may be $27,000BTC and $1,700 for ETH.
  • The Horizontal X-axis is the adjustable time scale which moves just like the price axis. Local time is used by default with the scales manipulated exactly by changing the time periods. Crypto retail traders will likely manipulate the set periods to 1, 3, 5, 15 minutes, or hours, some even days and weeks.
  • Candles on the Crypto chart represent the price dynamics. The body of the crypto candles on TradingView is made of opening and closing prices of crypto assets chosen at a specific time. The tiny lines you see at the bottom and top are the candlesticks shadows indicating the maximum and minimum prices asked during that specific trading period. Traders also have a chance to draw through the centres of candlesticks to help create the average price.

Why is the best charting tool for beginner crypto traders

TradingView also has multiple tools that affect the displayed crypto information. Traders can access them in the top menu using the control elements of the top menu from left to right as indicated below;

  • Profile Management is the icon showing the picture and first letter of your login information and is the button allowing crypto traders to open the main website menu to access profile settings.
  • Symbol search is the crypto asset selector used to select and search the desired crypto asset as well as the corresponding data source for the underlines asset. Traders may type ETH and look for multiple exchange options and pairings associated with this asset class of ETH.
  • The time scale tool allows traders to seamlessly switch between different standard periods. Traders can customize this tool to fit their trading styles as much as possible.
  • Your next option should be the chart type allowing traders to switch between various forms of charts including columns, lines, renko, and more.
  • Indicator and template tools give crypto traders access to a catalog of several impactful analytical instruments used in technical analysis.
  • You can also find the alerts and signal sections that alert crypto traders when there’s a shift in market prices. Crypto traders can customize the alerts to inform or warn of certain market parameters such as price level hits and more.
  • Replay tools allow crypto traders to inspect the price chart thereby testing various strategies before applying to the real world.

Once crypto traders on TradingView learn these tools, you will quickly understand how to use the crypto charts and extract valuable information about prices.

What traders get out of using Trading View

How Crypto Trading Beginners Use TradingView

The best reason beginner crypto traders should start using TradingView is the technical analysis offered by the platform. TradingView offers a free practical environment providing traders with essential tools that prove useful during trading.

An excellent example would be crypto trading beginners. Learning how to properly use the Fibonacci retracement on TradingView charts to master one of the most common methods used to predict market prices.

With the left-most menu on TradingView, Crypto traders get a selection of graphical tools. These are extremely useful on their own. Here are the most important menus or tools to note;

  • Fibonacci retracements and line drawing including curved and simple lines. These are some of the most used analytics to predict future resistance and support for crypto assets.
  • Measurement and prediction tools allow crypto traders to gauge the potential dynamics of crypto assets. This helps when placing orders to help pick optimal take profit and stop loss limits.
  • Technical analysis patterns allow crypto traders to perform exceptionally such as determining future resistance and support levels and predicting reversals.

Crypto market analysis charting tools for beginners

How does Automation work on TradingView for Crypto traders?

There’s no doubt that TradingView is the go-to platform for all crypto automation vendors. This charting website has many ways of integrating third-party automated bot services using API and Pine Editor.

Automation for crypto traders makes mundane tasks faster and more instant therefore removing time wastage and slow decision making. TradingView automation works by instantly executing orders on command therefore saving time and placing more accurate trades.

In Conclusion TradingView for Crypto Traders

TradingView is one of the best crypto charting tools for beginners and experts alike. It provides a powerful feature for traders using sophisticated technical analysis and strategies to place accurate and informed trades.

Thanks to a polished interface, it doesn’t overwhelm crypto beginner traders with unnecessary information as others would. For beginners, the learning curve isn’t steep with customization and integration playing a pivotal role in establishing the automation process.

Beginner Guide for Crypto traders on TradingView

TradingView remains a perfect source of market data for millions of crypto traders. Using the tools provided by this charting platform is highly beneficial. TradingView remains one of the most important advancements in the crypto retail trading world.

For beginners, we would recommend you dedicate your effort and time to learning how best to utilize TradingView. Thanks to the customization feature, you can finally create a trading system that works best for you.

TradingView is an essential tool for retail crypto traders.

You can also use AI bots to help boost your trading potential with ease. Tested and vetted AI trading tools with verified results are what you need to stay ahead of the curve.

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