TradingView FX Trading Strategies: A Comprehensive Guide

This blog provides a detailed explanation of FX trading strategies utilizing TradingView. We carefully explain everything from an overview of TradingView to its features and specific usage. If you’re interested in TradingView or want to leverage it as a powerful ally in your FX trading, please refer to this guide.

1. What is TradingView?

TradingView is a high-performance charting tool developed by TradingView Inc. in the United States.

This tool is extremely user-friendly for traders and investors, offering an intuitive interface. It allows you to display real-time charts for various financial markets (stocks, futures, forex, etc.) and analyze trends and patterns.

As part of its interactive features, TradingView provides tools that support technical and fundamental analysis. This helps traders gain a deeper understanding of market movements and identify profitable trading opportunities.

Furthermore, TradingView includes built-in backtesting and alert functions. Backtesting allows you to analyze historical data to test trading strategies and establish effective ones. The alert function enables you to receive notifications when specific conditions are met.

Since TradingView is accessible via web browsers, users can utilize it on various devices, including desktops, laptops, and smartphones.

TradingView is an excellent tool that supports traders and investors in conducting market analysis and making trading decisions. Its advanced features and ease of use have made it a favorite among many.

2. Features and Appeal of TradingView

TradingView boasts numerous features and significant appeal. Here, we’ve summarized the most noteworthy points.

Abundant Drawing Tools and Indicators

TradingView offers over 80 types of indicators and drawing tools. This allows for multi-faceted market analysis, thereby increasing the accuracy of market predictions.

Stress-Free Operability

TradingView’s interface is simple and allows for intuitive operation. Even first-time users can utilize it without stress. Convenient tools like the ruler function and magnet mode are also abundant, enabling stress-free chart analysis.

High Customizability

TradingView allows you to save drawing tools and indicators to your preferences. Furthermore, detailed customization options are available for chart background colors, line colors, thickness, and more. This enables you to create your own unique TradingView experience.

Convenient Shortcut Functions

TradingView allows you to quickly switch currency pairs, chart timeframes, and indicators using keyboard shortcuts. This enables rapid trade analysis, which is crucial for strategies like scalping.

These are the features and appeal of TradingView. As a multi-functional, easy-to-operate, and highly customizable charting tool, it is supported by many traders. In the next section, we will explain how to utilize TradingView with Minna no FX.

3. Steps to Use TradingView with Minna no FX

You can use TradingView for free with Minna no FX. Below, we’ll introduce the specific steps for how to use it.

3.1 Account Opening Procedure

1. First, access the official Minna no FX website and navigate to the account opening page.
2. Enter the required information and complete identity verification. Identity verification can be done via smartphone, using your driver’s license in that case. Account opening can be completed as fast as the same day.
3. Once your account is opened, log in to the member page.

3.2 How to Launch TradingView

1. After logging in, launch “FX Trader” on the member page.
2. Within “FX Trader,” select “Chart” to display a chart and use TradingView. A new chart screen will open.

3.3 How to Use TradingView

1. TradingView offers two types of charts. If the displayed chart is a simple chart, click the icon in the top right to switch to TradingView. You can click again to return to the simple chart.
2. In TradingView, you can customize candlestick display and appearance settings. You can open the settings screen by right-clicking on the chart or clicking the gear icon in the bottom right of the chart.
3. TradingView also features convenient tools to support chart display and analysis. You can utilize them to suit your trading style, such as displaying technical indicators and drawing objects, and adjusting settings.

The above are the steps to use TradingView with Minna no FX. After opening an account, feel free to utilize TradingView for chart analysis and trading support.

4. Basic Usage of TradingView

To effectively utilize TradingView, you need to remember the following basic usage steps.

1. Account Creation and Login

• Access the official TradingView website and create an account.
• Enter the necessary information and set up a username and password.
• Enter your created username and password on the login screen to log in.

2. Displaying Charts

• Select “Chart” from the menu bar.
• Right-click on the chart screen and select “Create New Chart” to display a new chart.
• Alternatively, you can display a new chart by clicking the chart icon on the price board.

3. Chart Settings

• Right-click on the chart screen to open the settings window.
• In the settings window, you can make detailed customizations to the chart, such as candlestick display and appearance settings.
• You can also adjust the display of technical indicators and drawing objects.

4. Adding Indicators and Strategies

• Right-click on the chart screen and select “Indicators” from the menu.
• Choose the indicator you want to add and display it on the chart.

5. How to Draw Trendlines and Horizontal Lines

• Right-click on the chart screen and select “Trend Line” or “Horizontal Line” from the menu.
• Select the start and end points of the trend line or horizontal line you want to draw.
• Select “Change Drawing Order” from the menu to adjust the display order of trend lines and horizontal lines.

6. Saving and Switching Chart Displays

• Right-click on the chart screen and select “Save Chart” from the menu.
• Specify the save location for the chart and save it.
• You can switch the display by selecting the saved chart from “Chart” in the menu bar.

Remembering these steps will allow you to maximize your use of TradingView. Please give it a try!

5. Chart Analysis Techniques in TradingView

TradingView is a highly functional chart analysis tool favored by many traders. Here, we introduce how to perform effective chart analysis using TradingView.

Chart Display and Basic Operations

First, open TradingView and display a chart. No installation is required; it runs in your browser. The TradingView screen consists of a chart display area and a toolbar.

In the chart display area, you can set timeframes and the technical indicators to display. You can also draw trendlines, support lines, and more using the drawing tools.

Leveraging Indicators

TradingView comes equipped with various technical indicators. Displaying these indicators on the chart helps analyze price movements and trend directions.

Using indicators is simple. First, select the indicator button from the toolbar. Next, set the desired indicator and its parameters. Once configured, the indicator will appear on the chart.

Executing Backtests

TradingView allows you to verify the effectiveness of your trading strategies using its backtesting feature. Backtesting uses historical data to test a trading strategy and review its results.

Executing a backtest is straightforward. Click the settings icon on the chart and select “Backtest.” Then, set the period, trading assets, and trading rules, and click the “Execute” button. The backtest results will be displayed on the chart.

Sharing and Saving Charts

TradingView makes it easy to share the charts you’ve created. You can save and share chart images or share them via a URL.

Saving a chart is simple. Select the save button from the toolbar. When saving, you can also save the chart layout and indicator parameters along with it.

The above are the basic chart analysis techniques in TradingView. Utilize TradingView’s excellent features to perform effective chart analysis.

Summary

TradingView is an incredibly powerful and convenient tool for chart analysis. With a wide variety of indicators and drawing tools, you can efficiently identify trends and patterns. Furthermore, you can validate the effectiveness of your trading methods by conducting backtests. Plus, chart sharing and saving features allow you to easily share analysis results or refer to them later. By maximizing TradingView’s features, you can make more accurate investment decisions.

Frequently Asked Questions

What is TradingView?

TradingView is a high-performance charting tool developed by TradingView Inc. in the United States. It is an excellent tool that supports traders and investors in conducting market analysis and making trading decisions. Its intuitive interface and wide range of features have made it a favorite among many.

What are the features and appeal of TradingView?

TradingView’s features include abundant drawing tools and indicators, stress-free operability, high customizability, and convenient shortcut functions. These features help traders analyze markets and develop effective trading strategies.

How can I use TradingView with Minna no FX?

You can use TradingView for free with Minna no FX. After opening an account, you can launch TradingView by displaying a chart from “FX Trader” on the member page. You can utilize various functions, such as chart customization and technical indicator settings.

What are the basic uses of TradingView?

The basic uses of TradingView include account creation and login, displaying and setting up charts, adding indicators and strategies, drawing trend lines and horizontal lines, and saving and switching chart displays. Understanding these operations will enable you to perform effective chart analysis.