TradingView Overview
TradingView became one of the wildest used and most powerful technical analysis and charting system platforms for all experience levels of traders and investors. It covers a variety of world exchanges and provides extensive modern features like generating fundamental data of instruments, supporting a decent number of brokers to exercise trading through, setting up alerts, and developing custom indicators by an exclusive built-in language, Pine Script.
What can be developed using Pine Script?
- Screener Table
- Backtesting Strategy
- Indicator
- Chart Indicator
- Sub-chart Indicator
- Strategy Indicator (Non-Backtesting)
Screener Table
A screener table is one of the indicator ideas that can be developed using Pine Script tables which it’s used to monitor and track a list of instruments with the technical indicators or signals levels within a selected timeframe in real time.
⯀ Turn the indicator into a screener to monitor tens of symbols simultaneously.
⯀ It could work to spot and find opportunities based on a customized strategy.
⯀ Add up to 40 symbols per timeframe per a screener table.
⯀ Create unique options to sort and rank symbols automatically.
⯀ Ability to create alerts (under request).
⯀ Possibility to add multiple screener tables on a chart.
Multiple Signal Screeners On Single Chart Windows
Screen up to 40 symbols on each table
(Example)
Strategy Screener (Example)
Monitoring Market Sectors (Example)
Backtesting Trading Strategy
Backtesting is a systematic method of calculating a trading strategy on historical market data. This technology helps traders determine strategy performance and profitability in various markets.
TradingView allocated a tab window called a “Strategy Tester” for backtesting strategy reports. It contains various financial metrics that will help to study and discover the strengths and weaknesses of the strategy’s performance.
Backtested Trading Strategy (Example)
Indicator
An indicator is a technical computation to analyze the change in the price movement based on an instrument’s real-time or historical data. The output can be displayed on a chart with lines, candle colors, labels, geometric figures, points, columns, etc. In addition to creating alerts that can be triggered once the custom criteria are met.
Chart Indicator
A chart indicator refers to indicators that can be implemented on the main chart window.
Sub-Chart Indicator
A sub-chart indicator refers to indicators that can be implemented on the minor chart window.
Strategy Indicator
A strategy indicator is a non-backtest that focuses on producing signals, labels, and levels of trading actions.