TradingView Review – Is the Premium Subscription Worth It?
TradingView is a financial market data powerhouse with a brand most experienced traders recognize. The company offers a robust set of free trading tools including charts and technical indicators you’ll need when you’re day trading.
The platform supports several financial markets including domestic and international stock markets, forex, cryptocurrency, and commodities. Even as a free member, you can use three technical indicators per chart, though TradingView limits free users to one chart per tab.
But if you want the comprehensive experience that could take your trading profitability to the next level, you’ll have to pay a small fee for a Pro, Pro+, or Premium account.
How TradingView Stacks Up
|Price||Free to $59.95 per month, depending on the plan you choose||Free, though you will pay brokerage fees on some trades|
|Robust Trading Tools & Indicators||Yes||Yes|
|Social Networking Features||Yes||No, but some social sentiment analysis tools|
|Multiple Assets Supported||Yes||Yes|
|Asset Screeners||Stock, ETF, mutual fund, forex, commodity, and cryptocurrency||Stock, ETF, mutual fund, forex, commodity, and limited cryptocurrencies|
TradingView Plans and Pricing
TradingView has four plans, starting with a free lifetime membership for basic features and ending with a Premium plan that unlocks everything the company offers. All plans come with a 30-day free trial; Premium is the most expensive at $59.95 per month.
You can always save big on all paid plans by paying annually, but the best way to save is to sign up for the free 30-day trial and wait for TradingView to send you promotions throughout the period. They’ll offer deep discounts if you give them your credit card number and let them end the free trial.
Some reports from verified users suggest that if you wait the full 30 days and let the free trial expire for a day or two, the last offer is 50%. However, it’s not clear whether it’s a 50% discount on the first month, first year, or for the life of your subscription. And offers like these are always subject to change.
Whatever offer you end up taking, here’s what to expect from TradingView’s plans.
TradingView’s Basic account is its free account. You’ll never be asked for a penny, but the account is limited in terms of charts per tab, indicators per chart, and access to some of the company’s best features.
Basic is limited, but it’s a great option if you’re a beginner trader who needs access to quality technical analysis tools and you don’t have the budget to pay for them.
You get the following features when you sign up:
- Technical Indicators. TradingView offers more than 100 in-house technical indicators and thousands of member-developed indicators. The indicators feature everything from moving averages to momentum oscillators and inventions you would never think of presented by other members. You can use three per chart as a basic member.
- Save a Chart Layout. Quickly see what you need to see when you trade by saving a chart layout. Unfortunately, you can only save one layout as a free member, but that works out well for new traders following a single trading strategy.
- Dividend-Adjusted Charts. These charts are perfect for you if you’re taking the long-term approach and reinvesting your dividends.
- Custom Indicator Templates. You get one custom indicator template as a free member. Create your own technical indicator based on your strategy.
- Backtesting. Backtest your trading strategy against historical market data to see how it performs in the real world.
- Pattern Recognition. Spot patterns on candlestick charts with little effort thanks to TradingView’s proprietary smart candlestick pattern recognition functionality.
- Trading Alerts. You can set up one trading alert based on a technical indicator, specific price action, trading strategy, or chart drawing.
- Historical Bars Per Chart. Basic members can see up to 5,000 historical bars per chart, covering a decent amount of historical trading data.
- One Trade Alert. Set up a trade alert based on technical indicators or price movement.
At just $14.95 per month, the Pro Plan is TradingView’s lowest-cost paid plan. You can save $24 a year by signing up for an annual subscription or take advantage of the hack mentioned above to get an even bigger discount.
Pro comes with everything above, plus:
- Unlimited Custom Indicator Templates. All paid plans come with unlimited templates
- Chart Upgrades. Take advantage of five indicators per chart and two charts per tab. You can also save up to five chart layouts.
- Alert Upgrades. Create up to 20 trading alerts based on technical indicators, price action, your trading strategy, or chart drawings.
- Custom Time Intervals. You aren’t limited to the traditional one-day, five-day, one-month, or one-year time intervals. Create your own custom time intervals based on your trading style.
- Multi-Monitor Support. Multi-monitor support isn’t available on the mobile app, but it’s a nifty feature for desktop traders.
- Ad-Free Experience. Ads won’t get in the way of the data you use as you trade.
- Historical Bars Per Chart. You get 10,000 historical bars per chart with the Pro and Pro+ plans.
- Social Features. All paying TradingView members have access to social features that allow you to connect with other market participants.
- 20 Trade Alerts. You can create up to 20 customized trade alerts on this plan.
Pro+ is like the Pro plan on steroids. It costs $29.95 per month or $299.40 per year for a $60 annual subscription savings.
Pro+ comes with everything mentioned above, plus:
- Chart Upgrades. You can use 10 indicators per chart and view four charts on a single screen. You can also save up to 10 chart layouts and access intraday exotic chart types like renko, kagi, line break, and point and figure charts.
- Alert Upgrades. The Pro+ plan increases your custom alert limit from 20 to 100.
- Chart Data Export. Export your chart data for use in other programs or as part of your trading journal.
- Indicators on Indicators. You can run some indicators on top of other indicators, rather than running them based on asset price data. This helps you confirm trends or potential reversals.
- 100 Trade Alerts. This plan increases the trade alert limit from 20 to 100.
Finally, the Premium Plan is TradingView’s most robust offering. The plan costs $59.95 per month, but you can save $120 per year by paying $599.40 annually.
Premium features everything above, plus:
- Chart Upgrades. Use 25 indicators per chart on eight charts per tab. There’s no limit to the number of chart layouts you can save, and your charts feature four times more data.
- Alert Upgrades. Create up to 400 trading alerts.
- Publish Invite-Only Indicators. Any paying member can publish public indicators, but as a Premium member, you can publish invite-only indicators. This gives you the opportunity to create a business by only sending invites to traders who are willing to pay for access, though you can’t set up payment through TradingView. You must build your own website and subscription system to profit from invite-only indicators.
- Historical Bars Per Chart. The Premium plan makes 20,000 historical bars available — a ton of past trading data. That’s up from 5,000 for Basic subscribers and 10,000 for Pro and Pro+ subscribers.
- 400 Trade Alerts. Set up 400 trade alerts, up from 100 with the Pro+ plan.
Key Features of TradingView
About 30 million day traders and investors use TradingView at least monthly. To put that into perspective, that’s nearly 10% of the entire U.S. population. The company has built such a massive membership base by offering some of the most intuitive trading tools online and making many of them available for free.
TradingView offers a wide range of data add-ons from providers like Nasdaq, the New York Stock Exchange, CME Group, Binance, and a wide range of other leading exchanges. Most add-ons are free or between $1 and $2 per month, but there are a few that cost $10 or more per month.
Multiple Financial Markets Supported
All members, even Basic members, have access to a wide range of financial markets. This includes both domestic and international stock markets as well as forex, commodities, and cryptocurrencies. You can also analyze exchange-traded funds (ETFs), mutual funds, and data from the options and futures market.
Charting Tools & Functionality
If you trade stocks, you need access to quality charting tools and functionality.
TradingView charts are some of the best in the business. They’re so robust that multiple trading platforms and investing websites use them to improve functionality for their own audiences.
We’re not just talking about stock charting here either. You can also use the robust list of technical analysis tools with real-time data from other markets as you assess assets like currency pairs, oil, or even Bitcoin.
All members have access to the charting platform, all technical indicators the platform supports, and most trading tools including drawing tools and custom chart layouts. However, you do have to upgrade for access to custom time frames and increasing volumes of available indicators per chart and charts per screen.
The TradingView platform isn’t a traditional trading platform, so to speak, because it can’t be used to trade with any broker. However, you can use it as a trading platform with several popular brokerages like OANDA, Forex.com, Ally Invest, and Interactive Brokers.
You may want to switch to one of these brokers if you’re not already using one of them.
You have access to all TradingView tools and real-time data as you trade when you use TradingView as a trading platform.
Social Networking Features
TradingView is, in part, a social media platform for traders, but you must be a paying member to access social features. You can share ideas and review trading ideas from other traders. You can also build your own indicators and make them available to the public, and if you’re a Premium member, you can create invite-only indicators.
However, even though TradingView has more than 30 million active members, its social network isn’t quite all it’s cracked up to be. Sure, you can find potentially profitable ideas here and there, but the social features aren’t nearly as robust as you get from a platform like StockTwits.
Any trading strategy you develop or read about may seem like the best thing since sliced bread, but you never know how it will perform in the live market until you try it out. One of the best ways to make sure you don’t waste your money on a dud is by backtesting the strategy against historical data.
TradingView’s strategy tester is free for all members and one of the most powerful backtesting programs on the market today. All you need to do is set the parameters of your strategy, including entries, exits, stop-losses, and indicators, and run the test. In just a few minutes, you’ll find out if the strategy would have been profitable historically and what the maximum profit and drawdown may have been.
History repeats itself in the market in some cases and in others it doesn’t. So, when you get done backtesting your strategy and end up with a positive result, take the strategy to the live market without risking any money with a TradingView paper trading account.
In other words, test your strategy in real time against what’s actually happening in the market. This time, the results won’t just be data-driven, they’ll include an important factor﹘the potential for human error. If the strategy performs well in the backtest and in the trading simulation, you’re ready to bring it to the live market.
TradingView doubles as a stock picking service. You can set up one trading alert as a free member and between 20 and 400 alerts as a paying member, depending on the plan you sign up for. When you do, you get a notification every time your trigger events happen in the market, but there’s one caveat.
You have to learn Pine Script, TradingView’s proprietary coding language, to set up alerts.
Although there is a bit of a learning curve, and the script is relatively simple, it would be nice to have a drag-and-drop feature or drop-down options rather than having to learn how to write a new language to create alerts.
TradingView’s asset screeners are some of the best in the business. Like all other tools the company provides, we’re not just talking about stock screeners. You can automatically comb through the forex, commodities, and cryptocurrency market for the types of trades you’re looking to take advantage of.
Advantages of TradingView
As one of the most popular charting tools and data providers on Wall Street, TradingView has plenty of advantages to speak of. Five of our favorites include:
- The Free Service Is Impressive. Most free trading and investing services are severely limited. Sure, the TradingView Basic membership is limited, but it’s got everything a beginner trader needs to get started with confidence.
- Tools for All Experience Levels. No matter whether you’re just starting out and learning your way around moving averages or you need exotic charting features in your trading process, TradingView has what you’re looking for.
- Multiple Asset Screeners. There are stock, forex, commodity, and cryptocurrency screeners across the web, but you rarely find a provider that offers them all together. TradingView is one of the few.
- Decades of Data. TradingView holds onto market data for 20 years, so you get a full two decades of data to analyze and backtest your strategies against.
- Mobile App. Finally, the TradingView mobile app is available for Android and iOS devices, and it’s just as powerful as the desktop platform.
Disadvantages of TradingView
TradingView is an effective platform for traders of all experience levels, but it does have its kinks. Consider the following before signing up:
- Poor Customer Support. The Free Version of TradingView comes with no customer support at all, just a forum where you can ask questions and hope to have them answered. Although support is available for paying members, countless user reviews mention days-long response times and inadequate support.
- No Social Features for Free Members. You have to pull out your credit or debit card if you want to take part in the social networking features, but don’t let that be the only reason to hold back. The social network is far less impressive than popular options for traders like StockTwits and Twitter.
- Be Careful Who You Follow. Anyone with a paid membership can post trading ideas. They’re not always experts though. You should never blindly follow trade ideas posted on TradingView’s social network.
- No Trader Education. TradingView has tons of trading tools, but few to no resources for learning how to use them.
Most active traders have heard of TradingView. Most also use it, if only once in a while. TradingView features some of the most intuitive trading tools available coupled with one of the biggest archives of market data online today.
Though there are drawbacks, the pros far outweigh the cons in our view.
TradingView’s Basic plan is especially impressive. It’s rare to come across a free trading tool with such comprehensive technical analysis functionality.
All told, if you’re looking for the tools you need to trade with confidence, you should start with TradingView.