TradingView: The Cryptocurrency Charting
TradingView is one of the best leading platforms for charting the price movements of the cryptocurrency on spot currency trading. And if you are planning to invest or trading in cryptocurrency, this application, TradingView, is a big plus for tracking your coins. Remember that, opening an account of TraddingView is free and has the best features on it.
Actually, there are no hard and fast rules in TradingView. It provides the best options for the chart that allow putting and making price predictions. And if you find the best and useful platform, then you must consider it to support them with a pro subscription for having an additional features.
The Candlestick Price Action
It is a popular in the trading community because it has more informations that are available to all of the trader on what the buyers and sellers are doing in every trading sessions. The strong buying pressure is known as the positive price action.
On the other hand, the selling pressure is also the most common as the falling price action.
Actually, you can change the data feed to an exchange of what your choice is preferred by clicking the symbol box. And now, you can type your desired symbol as well as to select the categories of the cryptocurrency. This feed comes from Bitstamp exchange, and always keeping in your mind that there’s no central price authority for every cryptocurrencies. Different exchanges, different prices and it depends on the supply and the demand of it.
Knowing Your Symbols
Knowing that the charts need two competing assets in order to display the price action. Anyways, you can do in any of the popular crypto or the fiat currency.
Ethereum-Bitcoin is one of the most popular pair. It is the most liquid pair for non-fiat currencies. It refers on how easy to buy and sell an asset in a marketplace. And the largest cryptocurrencies in the market.
The Trading Tools
Technical Indicators. To help you in making buy and sell decisions. Both Relative Strength Index (RSI) and the Moving Average Convergence & Divergence (MACD) are used in technical analysis of the stocks. It is also one of the most advisable tools.
Is is a tool that can be used to draw on your chart. Drawing some resistance lines that shows the general trajectory of the prices.
Analytics & Social
a) The Chart Layouts for saving preferences, drawings, and the indicators for the future purposes.
b) The Symbol Watchlist used for keeping tabs on the daily market moves for your favorite pairs.
c) The Price Alerts used for being notified when the price levels are hit.
d) The Social Trading used for chatting with other traders to get and gain some ideas about the market sentiment.