Metatrader is one of the best charting trading software available today. It is still a very good software for traders, and more importantly a free metatrader, unlike other trading software.

But if traders only know about metatrader, I think it will be a huge omission. There are many good trading software, there are many tools that support better than metatrader. Today I will introduce TradingView (maybe many of you on the forum are not too familiar with it).

1. Tradingview has a more independent trading platform

Are there any traders who have never used Microsoft Window, have used Windows for a while, have you discovered the inconvenience of depending on this operating system? Do you feel uncomfortable with installing the operating system continuously every time you update a new version of Windows, or buy a new laptop. Each time, you have to reinstall metatrader, not to mention spend a lot of time reinstalling your favorite programs (utilities, anti-virus software, music player...).

Using a platform-independent online software like tradingview can make it easier for you to access the market anywhere, just a computer with an internet connection is enough. You also “accept” any operating system, whether you use Linux or Mac OS.

2. Tradingview makes it easy for traders to analyze multiple time frames

This is a point I really like when using Tradingview. When using metatrader, you cannot analyze multiple time frames and currency pairs at the same time. You have to switch each chart differently and for each such chart, you have to set up a separate timeframe. This makes analysis very inconvenient.


The example above is a multi-timeframe metatrader on the EURUSD pair. You will see it appear 4 cards in the bottom corner of the screen. If you analyze more than 3 pairs or all 7 major currency pairs, you will spend a lot more time.


With tradingview you can have 4 charts at the same time and you can set each pair a different time frame but when you convert the currency pairs all the charts will change change to the new currency pair but the timeframe still keep it the same.

This is extremely convenient and makes multi-timeframe analysis a lot simpler.

3. Tradingview helps traders access many different markets


Metatrader is built primarily for the trading market and only allows traders to view the financial products that the broker allows. So if your broker does not provide price data of the products you are interested in, you are forced to look for another broker.
But for the trading view, you can view online price data of the futures, commodities, oil, bond markets. This is an essential tool for traders specializing in inter-market analysis.

4. Tradingview has a very good social network


If you need to listen to an expert, or need a common group that can be exchanged online, you can use Tradingview's miniature social network. However, the groups here mainly use English, which will be quite difficult for Vietnamese traders.

5. Trading view has effective charting tools

Last but not least, TradingView's charting tools have a lot to do with other tools you've come to know. One of my favorites is the long/short position marker.



It makes it easy for me to mark entry, stoploss and take profit points, not to mention how much it calculates for traders by risk:reward. This is an important point because as a trader, what I am always interested in is risk:reward for each trade. For metatrader, I also introduce a tool to calculate risk:reward for each trade order based on fibonacci, here is a small tip you can refer to. But using this method is also quite inconvenient for traders who have a trading system using Fibonacci.


You can also forward test on tradingview. Save your trading idea, press pause and press the button for the chart to continue moving for a while.

Conclude:

If you look further into the future. Trading software and support for traders will be oriented towards an online connection, not an operating system platform. This trend will spread not only in trading platforms like TradingView, you will see it in backtesting software, trading journal software.