TradingView Overview
TradingView has become one of the most widely used and powerful platforms for technical analysis and charting, catering to traders and investors of all experience levels. It covers a variety of global exchanges and offers modern features, including the generation of fundamental data for instruments, support for trading through a decent number of brokers, setting up alerts, and the development of custom indicators using its exclusive built-in language, Pine Script
What can be developed using Pine Script?
Screener Table
The Screener table is one of the indicator ideas that can be developed using Pine Script tables. It is used to monitor and track a list of instruments, corresponding with technical indicators, levels, or signals within a selected timeframe.
⯀ A screener is used to monitor tens of symbols simultaneously.
⯀ It can work to spot and find opportunities based on a customized strategy.
⯀ Add up to 40 symbols per timeframe per screener table.
⯀ Create unique options to sort and rank symbols automatically.
⯀ Ability to create alerts (upon 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 has allocated a tab window called ‘Strategy Tester’ for backtesting strategy reports. It contains various financial metrics that can help study and discover the strengths and weaknesses of the strategy’s performance.
Backtested Trading Strategy (Example)
Indicator
An indicator is a technical computation used to analyze changes 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. Additionally, there is the possibility to create 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.