Before I end this TradingView tutorial…
I want to share with you a few tips to give you a better charting experience:
- Always enable Autosave On
- Press Ctrl + Z to undo any accidental changes
- Comparative Strength Analysis
- Economic calendars
- Removing indicators temporarily
1. Always enable Autosave On
This allows the TradingView platform to save your changes automatically every minute.
2. Press Ctrl + Z to undo any accidental changes
If you shift your lines accidentally, just press Ctrl + Z and it’ll revert to the previous action.
So you can undo any mistakes that you made quickly.
3. Comparative Strength Analysis
So let's say you’re trading the stock market index.
And you’re wondering which index is the strongest.
(This can be applied to stocks, index and etc.)
This is the S&P 500:
And you're wondering if the S&P500 or the Nasdaq is stronger right now.
What you can do is to overlay the Nasdaq chart on top of the S&P 500.
Just click Compare, and in this case, you have the Nasdaq option here:
If you’re trading stocks, you can just enter the name of the company here as well:
In this case, I’ll compare S&P500 and Nasdaq.
You can see that the blue line is the Nasdaq’s price changes over time compared to the S&P500.
It’s a bit hard to see since one is in the line chart format and one is a candlestick chart format.
So you’ll change the S&P500 one to a line chart format.
So now it's easier to compare between S&P500’s dark blue line and Nasdaq’s light blue line.
Now you can see that over time especially for this year 2019, Nasdaq is the stronger index to be trading.
It's making higher highs and its retracement is not as deep as compared to the S&P500.