If you want to follow prices of, for example, stocks and cryptocurrencies or perhaps currency exchange rates or oil prices, TradingView is one of the best platforms for this. With TradingView you can make a watchlist with prices, consult charts and use all kinds of tools for technical analysis. That goes very smoothly, even from your smartphone.
Do you trade on the stock exchange or in cryptocurrency, then you will want to keep an eye on the prices in a practical way. TradingView is a popular platform for tracking prices and also provides insight into, for example, exchange rates of various currencies, prices for gold, silver, oil and natural gas, as well as investment funds and bonds. You can even track the prices of products such as cotton, sugar, wheat and corn. When consulting price charts, it is almost impossible to avoid making technical analyses, for example to find good entry and exit moments. TradingView gives you a well-stocked toolbox for that purpose. You will also find suggestions from other traders and investors on the platform. In this article we show you how to use it on your smartphone!
1 Installation
The TradingView platform is frequented by many via a browser, but you can also use it with an app. It is available for Android as well as iPhone and iPad. Here we discuss the Android version. When you create an account and log in with it, all relevant data is synced, making the app work almost seamlessly with your other devices.
We therefore definitely recommend that you create such an account, especially because it allows you to easily create and sync a watchlist with favorites. After installing and opening the app, you can use the Profile Log in to your account or, if you don’t already have one, create a new account. A free account offers enough possibilities for most!
2 Watchlist
When you open the TradingView app, you will immediately see a so-called watchlist, filled with well-known indices, stocks and cryptocurrencies. We are not going to use these and will be the first to create a new watchlist. To do this, open the menu via the icon at the top left and then click on the plus sign. Enter a name for your watchlist and click Create. You can add courses to your watchlist via the plus sign. You enter the so-called symbol name. For example, shares such as pnl (PostNL) or bbed (Beter Bed), or cryptocurrencies such as btcusd or ethusd for Bitcoin and Ethereum against the US dollar respectively. You can sometimes choose from several exchange offices, the so-called exchanges. For Bitcoin, these include Binance and Coinbase. In your watchlist you can see the current prices at a glance. Via the icon with the sliders (top right) you can change the order manually, but you can also sort by, for example, the percentage change.
3 Price Charts
If you click on a symbol name in your watchlist, you will go directly to the price chart. By default, a daily chart is shown with so-called candlesticks or candlesticks, where one candlestick shows an interval of 24 hours. You can use the icon next to the symbol name to switch to an interval of, for example, 1 minute, 5 minutes, four hours, a week or month. The higher intervals better reflect longer-term trends. With the icon next to it you can change the graph style. Most will choose the candlesticks, which also inform about the highest and lowest price of the period via the dashes (called ‘wicks’) at the top and bottom. The (standard) Heikin Ashi is a variant that is more based on averages. At the bottom you can still change the date range and on the right the scale for prices. On the left you see all kinds of extra tools, of which we will mention a few below. The developers have clearly put a lot of time into making the graphs work well on smartphones and tablets. It is practical to keep your device horizontal, so that there is more space for the graph.
4 Trendlines
TradingView offers all kinds of additional tools for technical analysis. That means: predicting the future price by analyzing historical prices. Rises and falls usually follow certain trends that you can spot with technical analysis. Trend lines are a good help, and you can draw, for example, at levels where the price finds support or encounters resistance due to previous price actions. On the left you will find all kinds of drawing tools to add lines, patterns or texts to your chart, for example. You will also find the well-known Fibonacci indicator that can help you estimate where a trend will reverse, so that you can sell at the peak or buy at the bottom. To do this, you need to recognize the top and bottom of a trend (also called swing high and swing low). If you want to remove drawn lines and/or indicators, you can tap the trash can icon.
5 More Indicators
TradingView offers all kinds of additional indicators. To add them, click in the top bar Indicators. You can look them up by name here. For example, you can add lines with moving averages over a certain number of days (such as 50 or 100) to your chart, such as an EMA (Exponential Moving Average) line. This will help you spot trends. This indicator reacts with a delay to market movements and is therefore also called a lagging indicator. In order to be able to say something about the direction of the coming price movement, so-called leading indicators are used. A popular one is the Relative Strength Index (RSI), which you can add in TradingView in a similar way. This in fact gives an overbought or oversold signal. With overbought, the price has risen sharply and the chance of a counter reaction is greater. Finally, do you want to know what others think about the course? Then you can go through the tab Ideas read these contributions.
