How to add indicators on TradingView?
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TradingView is a charting platform with a flexible indicator system that is familiar and best to today’s traders. Users can easily use additional available technical indicators or install other external indicators on the TradingView chart. The following article shows how to add an indicator to the TradingView chart quickly and easily.
What are technical indicators?
Technical analysis is helpful for traders to find suitable trading opportunities in any market, including commodities, stocks, currencies, cryptocurrencies… A practical tool that helps traders do technical analysis is technical indicators. Technical indicators are made up of calculations and presented as graphs on a price chart, assisting traders in identifying trends or confirming trading signals.
There are different types of technical indicators. However, it is often divided into Trend Indicators and Momentum Indicators. Trend indicators are quick indicators that signal to predict future price movements. Meanwhile, the lagging indicator usually looks at past trends and shows the market’s momentum for the trader to make appropriate trading decisions.
Advantages of using technical indicators on TradingView.
Technical indicators on TradingView are rich, flexible, and best performing. Technical indicators on TradingView help traders control the market and trading opportunities easily through any Internet-connected device. Users can set price alerts or view trading signals sent via email, text messages, or pop-up notifications.
Because it is easy to enable more indicators on TradingView and use it, the use of indicators on TradingView is becoming more and more popular. Using more technical indicators when monitoring charts and helping short-term or long-term traders can help improve trading results.
Using technical indicators to detect trading signals helps traders to see trading signals without being influenced by emotions when making decisions. Using technical indicators also allows the trader to identify different trading opportunities to maximize and provide more stable profits.
Currently, trading professionals mainly depend on data analysis and technical analysis. Besides, most traders who use technical analysis also use technical indicators. They believe that using technical indicators on TradingView helps users be more confident and increase the success rate in the trading process.
How to add indicators to Tradingview charts?
To add an available indicator to the TradingView chart, users need to log in to their accounts. Select the Chart tab, and open the chart you want to monitor on the toolbar at the top of the screen, select Indicator.
Choose the right indicator type (technical, financial, or community-written indicator or create your new indicator). Then, select the technical indicator you want to use. Immediately the selected technical indicator is displayed on the chart.
There is a more straightforward way, and users can type the name of the indicator they want to use in the Search box to search and turn on the appropriate indicator.
Open the chart and double-click on the added technical indicator to adjust the specifications. Then click Ok to confirm.
Each free TradingView account can add up to 4 indicators per chart.
TradingView is famous for its stock of available technical indicators with more than 100 famous and popular technical analysis indicators. In addition, the easy use of more than 5,000 available indicators shared by the community makes TradingView even more powerful because of its vast technical indicator store. Besides, users can also create their indicators when using the Pine programming language. Technical indicators help users quickly recognize your buy and sell signals. Technical indicators help traders make more accessible and accurate trading decisions without being influenced by emotions. Therefore, the technical indicator on TradingView is prevalent and often used by traders when setting up a trading system.
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