How to use the TradingView screener?Hey everyone! 👋
Today we want to enlighten you about an amazing feature of TradingView, "the screener". The screener is one of our most powerful tools. As the name suggests, it is used to filter symbols (stocks, cryptos, and currencies) based on certain technical or fundamental aspects. The screener works for 3 different markets - stocks, crypto, and forex and any script can be shortlisted based on technicals, fundamentals, or a mix of the two.
Sounds good? Let’s get started. 🚀
If you open the homepage of TradingView, you will be greeted with an option called "Screeners" .
If you hover over it, you will see 5 options , namely:
1. Stock screener
2. Forex screener
3. Crypto screener
4. Stock heatmap
5. Crypto heatmap
Select and click the screener that you want to use. (In this post we are mainly concerned with the screener, so let's ignore the heatmap).
The main page of the screener will look like this:
The stocks will be listed in columns along with various technical entities such as change, volume, change %, technical rating, as well as fundamental entities such as EPS, P/E, sector, etc.
You can add or remove more details by using the “3 vertical lines” icon. If you click on it, you will see a whole lot of technical and fundamental elements. These include moving averages, MACD, RSI, volatility, total assets, total debt, total liabilities, total revenue, etc.
There are plenty of foundations on which you can sort the stocks. These can be margins, valuations, balance sheets, performance, oscillators, etc.
There is an option on the extreme right-hand side of the toolbar, named "Filters". It provides a facility to add custom filters based on the financials or technicals.
There are also plenty of pre-made screens that can be accessed just by clicking the option to the left of the "Filter" tab. The default screens include top gainers, top losers, unusual volume, overbought, etc. The best part is, you can export the screener data to a CSV file. Amazing, isn’t it?
Feel free to experiment with the screener and let us know what you think. Or are there any more things you'd like us to include?
See you all next week :)
- Much love, Team TradingView 💘
TradingView Tips
A layman’s guide to Support and ResistanceForeword:
Support and resistance levels are a critical part of trend analysis because they are used to make specific trading decisions. The fact that these levels flip roles between support and resistance can be used to determine the range of a market, trade reversals, bounces, or breakouts. These levels exist due to the influx of buyers and sellers at key junctures.
Support and resistance levels can be drawn using a variety of technical indicators such as Moving averages, horizontal levels, trendlines, etc. (which are freely available on TradingView)
This post will shed some light on these questions:
1. What is a support level?
2. What is a resistance level?
3. What is their importance?
4. When & where to place Buy/Sell orders?
Please remember this is an educational post to help all of our members better understand various concepts used in trading or investing.
Support:
Support is a zone where the price tends to find a cushion as it falls. In general, the price is more likely to “rebound” from this level rather than pierce through it. However, once the price breaks down from this level, it is likely to continue falling until meeting another support.
Illustration:
Exhibit 1:
Exhibit 2:
Resistance:
It is a zone where the price tends to find resistance as it rises. In general, the price is more likely to “bounce back down” from this level. However, once the price pushes above this level it is likely to continue rising until it meets another resistance.
Illustration:
Exhibit 1:
Exhibit 2:
Role reversal/Change of polarity:
A resistance level after a successful breakout turns into support and a support level after a breakdown turns into resistance. This is known as "Change of Polarity" and the zone is called a "Flip zone".
Illustration:
Exhibit:
Sample trade setups:
1. Buying the support
If after being rejected several times by the resistance, the price finally manages to break out. The right course of action can be to wait for a successful retest of this level, before going long. This is done in order to avoid fake breakouts/bull traps.
2. Selling the resistance
If after being rejected several times by the support, the price finally manages to break down. The right course of action can be to wait for a successful retest of this level, before going short. This is done in order to avoid bear traps.
Conclusion:
A zone keeps on flipping roles between S/R. It serves as a support at times and a resistance at others. As a result, these zones should be regarded as possible support or resistance zones, as there is no guarantee that they will operate as desired zones.
Pro Tip:
Since there is an influx of buyers and sellers at the S/R level, hence there is a lot of liquidity around these points. Hence, it is not wise to place orders close to these levels. Always keep a buffer.
How to publish a script/indicator on TradingView?Hey everyone!👋
We have prepared this visual guide to help you out in publishing your very first script/indicator on TradingView. Just type in your code, provide a decent heading, write a meaningful description explaining how your script is original, and just publish. Easy, right? Let’s delve into this process!
A step-by-step guide on how to publish a script on TradingView.
1. When you open TradingView, you will find an option called "Chart". As soon as you click it, it will redirect you to a blank chart template.
2. The blank chart will look something similar to the chart below. At the bottom of the screen, you will see a toolbar with various options. Click on “Pine Editor”. It will open a blank notepad type of page, on which you are supposed to write the code using the Pine script.
3. When you are done writing your code, click on the “Publish script” option at the top-right of the notepad. It will lead to a form similar to the one that comes at the time of posting ideas/charts.
4. In this form, you need to provide the following things:
a) Privacy Settings
You have the opportunity to publish both public and private ideas and scripts on TradingView.
i) Public - Your publication will be visible to all and included in the community scripts section of TradingView.
ii) Private - Your publication will only be visible to you and those with whom you share its link.
b) Visibility
i) Open - Your source code will be visible to everyone. They can favorite the script, apply it to a chart and see or clone the source code.
ii) Protected - Every user can add this script to the chart or favorites, but only the author can see the source code.
iii) Invite-Only - Nobody can add it to a chart without explicit permission from the author and only the author can see the source code. Please note that Invite-Only script publishing is available to Premium users only. Additionally, authors can choose to manage who can access their scripts. You can publish any of these types of scripts both publicly and privately.
c) Category
What is the type of your indicator? Is it based on bands and channels or is it a breadth indicator, or is it an oscillator? There are plenty of categories to choose from.
d) Tags - Provide a few relevant tags for your scripts.
e) Rules - Check the box which affirms that you abide by the house rules of TradingView.
After doing all of the above, you just need to click "Publish Script".
Voila! You just published your first idea on TradingView.
Note : Ideas/scripts once published, cannot be edited/deleted after 15 minutes of publishing. Hence, if you make some mistakes, be sure to rectify them within 15 minutes.
A few important rules that you should keep in mind before posting a script on TradingView. These rules apply to all public scripts on TradingView. Keep in mind that TradingView's general house rules apply to script authors, in addition to these.
Script visibility
Users of all types of accounts on TradingView can publish scripts publicly or privately. Regardless of the private/public visibility, you choose for your script, you can use any source or access control publication mode allowed by your type of account: open-source, protected, or invite-only.
Private scripts
Private Scripts are not moderated and are invisible to everyone but you. If you choose to publish privately, you must also accept that those publications must be incognito elsewhere on TradingView. You are not allowed to refer or link to them from any public TradingView content. You can share private publications with friends or customers by sending them the link to your script, which you can get by opening your script's page and copying its URL from your browser.
Public scripts
Public scripts appear in TradingView's Public Library, where they become visible to the millions of TradingView users and any Internet user who has access to its link. Because they are public, these scripts must meet the requirements mentioned under the following image.
Language
The Public Library is common to all language versions of TradingView. In order for all members to benefit from all published scripts, English must be predominant. Titles must be English-only. Other languages are welcome in descriptions, but English must appear first.
Originality and usefulness
Your script's description is your opportunity to explain to the community how it is original and can be useful. If your description does not allow TradingView moderators to understand how your script is original and potentially useful, it will be moderated. Rehashing of old ideas, slight color changes, different combinations of MAs, or a slightly modified version of a popular indicator like WaveTrend are not considered useful.
Description
Write a detailed and meaningful description that allows traders to understand how your script is original, what it does, how it does it, and how to use it. Give traders an idea of the concepts underlying your calculations. Mentioning only that your script follows trends or is intended for scalping does not help traders much; it will be more useful to traders if you also give them an idea of which of the hundreds of trend-detection or scalping methods you use.
Check out the complete list of script publishing rules here: in.tradingview.com
Tips for script authors: www.tradingview.com
Pine user manual: www.tradingview.com
Feel free to go and explore the Pine script. And if you ever need any help, we are always here to help you.
- Much love, Team TradingView 💘
How to publish an idea on TradingView? Hey everyone!👋
We have prepared this visual guide to help out the awesome new users of TradingView. A lot of you are not aware but TradingView provides you a facility to share your charts with a wholesome community. All you have to do is just mark your chart, give it an awesome heading, write a good description and just publish. Easy, right? Let’s delve deeper into this process!
A step-by-step guide on how to publish an idea on TradingView.
1. When you open TradingView, you will find an option called "Chart". As soon as you click it, it will redirect you to a blank chart template.
2. The blank chart will look something similar to the chart below. On the top-left-hand corner, you will see the "Scrip name" of the current scrip that you are checking.
3. Click on the "scrip name" and find the symbol that you like to see the chart of. Easy right?
4. You can now mark whatever you feel like as per your trading system. In general, you can mark different levels/zones of support, resistance, demand, supply, patterns, etc.
5. After marking all the levels, click on the "Publish" button shown at the top-right corner of the screen. It will redirect you to a blank form that you need to fill out.
6. In this form, you need to provide the following things.
a) Title - A title for your idea
b) Description - A meaningful description explaining your idea so that others can understand from your perspective.
c) Choose the type of idea - Analysis or Tutorial. An analysis is an idea about a specific stock at a given point in time whereas a tutorial can be a generic idea regarding educational things related to trading or TraingView.
d) Privacy settings - If you want to share your ideas with the community, you need to select the "Public" option. Else if you just want to keep the idea to yourself as a reference or a journal, you can select the "Private" option.
e) Category - Select the basis for your analysis using the options given in the category slab.
f) Investment strategy - Whether you are bullish, bearish, or neutral on the stock.
g) Share - You can check the share box if you want to share your post on Twitter as well.
h) Tags - Provide a few relevant tags for your idea.
i) Rules - Check the box which affirms that you abide by the house rules of TradingView.
7. After doing all of the above, you just need to click "Publish Idea".
Voila! You just published your first idea on TradingView.
Note : Ideas once published, cannot be edited/deleted after 15 minutes of publishing. Hence, if you make some mistakes, be sure to rectify them within 15 minutes.
A few important rules that you should keep in mind before posting an idea:
1. Make ideas understandable.
When publishing content, make sure to write an easy-to-read title and a thoughtful description so that everyone can get the gist of your published work and the reasoning behind it.
2. All content should be ad-free.
Any advertisement such as logos, links or references to any website, social media, messaging or email contacts, company names, wallet addresses, will invite action from the moderators. All content has to be free from promotion.
3. Publish in the same language as the site you're on.
Writing in one language when the audience reads in another is just a waste of time and energy, so please make sure to stick to the language of the TradingView subdomain you're on. If you'd like to publish or chat in another tongue, please click on the language selector in the top bar menu and select the desired dialect.
Check out the house rules of TradingView here: in.tradingview.com
Feel free to go ahead and post an idea today! And if you ever need any help, we are always here to help you.
- Much love, Team TradingView 💘
How To Use Financial Ratios To Make Better DecisionsFinancial Ratios help you evaluate a company. Most financial ratios will show you how much money you're paying for a specific piece of the business. Let us give a few examples:
Price-to-Sales Ratio = Market Cap / Sales
The Price-To-Sales ratio or PS ratio tells you how expensive a company is relative to its total sales. The formula is calculated in two different ways: divide the company's market capitalization by its revenue or divide the current stock price by revenue-per-share. Because this ratio is being calculated with live price information, you can also watch it in real-time on the chart as we've shown in this example above.
If a company has a market cap of $10 billion and revenue of $1 billion, well that, that implies a PS ratio of 10. You're paying $10 for every $1 in sales. You can do ratios like this for all aspects of the company. For example, PE ratio or Price-To-Earnings ratio measures the Market Cap / Earnings . This tells you how much you're paying for every dollar of earnings .
Keep in mind that Financial Ratios are not perfect. They are also not a buy or sell recommendation. Instead they are shortcuts, ways to quickly evaluate a company, compare its underlying fundamentals, and study that company relative to other companies. You also must remember that financial metrics can change quickly with a single earnings report. A company's future expectations are also just as important. A company like Apple might have a high PE ratio, but if they're building and growing revenue into the future, their PR ratio could come down over time.
Remember, Financial Ratios and Financial metrics in general paint a picture of the underlying business and its earnings potential. Here are some other resources to get you started:
1. Read more about Financials on TradingView in our Help Center.
2. You can also code your own strategy or indicator using this financial information .
3. We've also created a library in our Help Center so you can learn more about every Financial metric .
Here are some other financial ratios that you may find interesting and how they're calculated:
PE Ratio = Market Cap / Earnings
PB Ratio = Market Cap / Book
PEG Ratio = PE / Earnings Growth
Quick Ratio = (Cash + Cash Equivalents + Current Receivables + Short Term Investments) / Current Liabilities
Dividend Yield = Dividends Per Share / Price
EV Multiple = Enterprise Value / EBITDA
To access all of the Financial Ratios available to you, click the Financials button at the top of your chart. From here, you can select many different Financial metrics and study markets at a deeper level.
More importantly, you can combine the study of Technical and Fundamental analysis at the same time. Meaning you can evaluate the fundamental side of the business including its earnings and valuation while ALSO studying price action and planning a trade.
Please feel free to share your feedback and comments below! Thank you for reading.
How To Tweet a Chart Image Fast!We realize that sometimes you just want to get your charts out to people as soon as possible.
With the Tweet Chart Image feature, now you can!
As illustrated above, simply choose "Publish" then "Tweet Chart Image" and you'll be able to tweet the image out directly from your Twitter account to get that critical analysis to your followers fast!
What's that? You'd like to do this on your iPhone as well?
No problem, we got you.
Check out what idea users are tweeting right now here
Image Credit
Heikin Ashi Charts vs. Candlestick ChartsFollowing price action is at the core of markets. One glance at a chart can show you a trend, trade idea, or serve as a quick way to check the holdings in your portfolio.
Candlestick charts are one of the most popular ways to look at price action. A single candlestick shows the high, low, open, and close for a specific time period. This means that a lot of price information is stored in a single candlestick . However, sometimes, that price information is filled with volatility or chaotic trading.
That's where Heikin Ashi charts are most useful - they smooth out the price by showing an average price range rather than the exact measurements. In fact, Heikin Ashi charts were developed in Japan and the word Heikin means “average” in Japanese . For those who invest over long-term horizons or look for sustainable trends, Heikin Ashi charts can be an effective way to smooth out price and show clearer trends.
The key to understanding Heikin-Ashi charts is to remember that each bar, whether it's red or green, shows an average price range for a specific time period whereas a candlestick chart shows the exact price levels for that time period.
The formula for a Heikin Ashi looks like this:
Open = (Previous bar open + previous bar close) / 2
Close = (Open + High + Low + Close) / 4
High = Highest point whether it's the open, high, low or close
Low = Lowest point whether it's the open, high, low or close
Make sure to test out these two different chart types and have some fun. There is no better way to learn than to compare and contrast the two types of charts as we are doing in this example. Remember, it is also about your personal preference. Do you want to see every granular detail in price action? Or do you want to see an average price of that trading action? This is entirely up to you and the tools are here for you to try.
NOTE
While Heikin Ashi and other non-standard charts can be useful to analyze markets, they should not be used to backtest strategies or issue trade orders, as their prices are synthetic and do not reflect bid/ask levels at exchanges or brokers. If you need more information to understand why that is, have a look at these publications:
• In the Help Center: Strategy produces unrealistic results on non-standard chart types (Heikin Ashi, Renko, etc.)
• From PineCoders: Backtesting on Non-Standard Charts: Caution!
Thanks for reading and please leave any comments or questions if you have them!
Comment : P.S.
Someone asked how they can select Heikin Ashi. Click the dropdown at the top of your chart where it currently shows either your Candlestick or Line chart options. Then select Heikin Ashi from the dropdown menu.
Creating Lines with ShortcutsCreating lines on a chart is one of the most fundamental methods of charting when performing technical analysis . Being able to create these effectively and quickly is a very useful skill to have.
Horizontal, Vertical and Cross lines can all be found on the drawings panel to the left of the chart in the subgroup “Trend Line Tools”. These tools can be added by selecting them from the subgroup and then placing them on the chart.
However, a more efficient method to creating these lines is to utilize the hotkey functions:
Horizontal Line Shortcut:
- Alt+H (PC), or Option+H (MAC)
Vertical Line Hotkey:
- Alt+V (PC), or Option+V (MAC)
Cross Line Hotkey:
- Alt+C (PC), or Option+C (MAC)
Becoming more efficient in your ability to draw lines on your chart will allow for quicker identification of areas of support/resistance and times on your chart.
Be sure to visit our help center to learn more about these tools!
More information on the Horizontal Line tool:
www.tradingview.com
More information on the Vertical Line tool:
www.tradingview.com
More information on the Cross Line tool:
www.tradingview.com
How to Draw Fibonacci Channels
Fibonacci Channels are used to determine fibonacci support and resistance levels within an identified trend.
These channels can easily be drawn in both uptrends or downtrends to find potential areas where price action could change.
Uptrend
When drawing a Fibonacci Channel on an uptrend, a clearly identified trend needs to be established with higher lows being created.
To draw the channel, first select the two low points on the trend, and then the high point in-between them.
After the channel is drawn, the Fibonacci levels calculated can be used to help speculate price action by watching these areas as support or resistance.
Downtrend
When drawing a Fibonacci Channel on a downtrend, a clearly identified trend needs to be established with lower highs being created.
To draw the channel, first select the two high points determined by the trend, and then the low point in-between them as shown below.
Do you use Fib Channels?
If so, share your ideas in the comments below!
Using the Trend-Based Fib Extension ToolThe Fibonacci ratios are widely used among traders to help identify potential areas of reversal in the movement of price action.
The Trend-based Fibonacci Extension tool utilizes three points on a previously identified trend in order to draw the Fib ratios on the chart.
In the chart above, price was rejected twice forming a double top which is a fairly strong reversal pattern. To help identify potential areas of support and resistance we have drawn a Trend-Based Fib Extension.
Using the double top patterns High, Low, and High as the three points for the Trend-Based Fib Extension, the Fibonacci ratios are drawn on the chart.
In this example, you can see that price action respected these levels very well until finding strong support at a potential bottom that corresponds with the 200% extension level.
But, notice the region in the yellow box on this chart. There seems to be no identified areas where the Fibonacci ratios show support or resistance.
While retrospectively we can tell that the area of support found at ~ $12 (141.4%) in mid-November 2017 did not produce a new bull market. At the time there was a potential reversal at that region resulting in higher highs and therefore we could have pulled a NEW Trend-Based Fib Extension as shown below.
As the new Trend-Based Fib Extension is identifying areas of a new uptrend, we see that these ares are shown in a way that they were not in the previously drawn Trend-Based Fib Extension.
However, price was rejected at the 61.8% level and continued downward until the 0% extension level was broken, thus invalidating this Trend-Based Fib Extension.
While the upward price trend did not continue, there was a local high that was made and thus could be utilized to create another Trend-Based Fib Extension to further identify areas of reversal for the continuing downtrend as shown below.
Looking at this newly created Trend-Based Fib Extension, we see that the areas moving down to the 78.6% extension level are very well respected, at which time the price found support, creating a triple bottom reversal pattern.
It is interesting to note that the 78.6% extension on this Trend-Based Fib Extension pull is at $1.82, and the 200% extension level from our first Trend-Based Fib Extension pull was at $1.95, a mere $0.13 difference in price.
This area where the two levels of a Trend-Based Fib Extension or Retracement group together is know as a Fib cluster and indicates areas of strong support or resistance.
With price forming a triple bottom and reversing from this level, is it possible that this is the bottom of this downtrend?
Could a new Trend-Based Fib Extension now be pulled from a new Low/High/Low to identify potential areas of support and resistance?
Give it a try and see what you find!
How To Add Emojis To Your ChartIf you publish a lot of research from your TradingView account, emojis will give readers another way to engage with your work. Emojis are recognized globally and can help others better understand how you're thinking or feeling. They can also be used as quick reminders or notes.
Here's how you can add emojis to your chart:
1. Copy and paste an emoji directly into the text box tool like this 👋. If you need help finding an emoji to copy and paste, there are several websites that make this easy to do. You can add emojis to any text box or drawing tool that supports text.
2. The second method is to use the Signpost tool. The Signpost tool is located in the Annotation Tools menu on the left-side of the chart. Select the Signpost, place it on the chart, and then open its settings to add an emoji. The Signpost tool can be used to leave detailed notes at specific price levels. It is easy to use, fully customizable, and it can be dragged to any point on your chart. We've included a few examples on the chart above where we've also customized the background color of each Signpost. 😎🐻 🥶🐂
Thanks for reading! Let us know if you have any questions or comments. Our team is always listening and waiting to help.
Create Alerts (And Wait Patiently!)There are two key steps to creating alerts:
1. Find Important Price Levels
Do your research. Find a price level that looks important and wait. Patience is everything. You have all of the tools available to you to research and follow markets. Whether it's a simple trend line , moving average or a custom Pine Script, use the tools to make better decisions.
2. Create The Alert
Once you've found a level that interests you, create an alert and walk away. Right-click on that exact price level and then select "Create Alert" from the menu. You can also use the keyboard shortcut Alt + A or on a Mac option + A. Lastly, at the top of every chart is an alarm clock icon ⏰. Click that to open your alert menu and get started.
The chart in this example shows a level we're watching. It also shows the alert we created. We have our eyes on a possible Double Bottom and we made an alert to watch that level. We'll get notifications on our TradingView mobile app, through email, and on our desktop. We won't miss it. 😁
Alerts can help you plan ahead and wait. We all know patience is important. So use alerts to express that patience.
Thanks for reading and we look forward to hearing your feedback in the comments below!
Meet Our New Drawing Tool: Price NoteWe created Price Note to make it even easier to attach notes at specific prices. We know how important it is to keep detailed notes on your favorite charts and our new drawing tool will help.
How to create your first price note 📝
1. Select the tool from the Annotation Tools panel. This is the same place where you find the Text tool.
2. Place two anchor points. The first point sets the price, and the second one is the coordinates of the price label.
3. Add text to appear along the Price Note by opening the settings dialog by double-clicking on the note. You can also change the line and text colors from the settings dialog.
Use keyboard shortcuts when working with Price Note!
1. Press Ctrl (Windows) or command ⌘ (Mac) while placing a point so that the point is drawn to the nearest symbol value. This keyboard shortcut turns on your Magnet.
2. Press the Shift key while placing a point to set the slope of the line in multiples of 45 degrees. Pro tip: this is especially helpful for placing Price Notes at perfect angles. Perfect angles = beautiful chart. 🎨
We hope you enjoy this new drawing tool. By the way, the chart above shows Bitcoin Dominance, S&P 500 , and Tesla . We've placed price notes as examples for each symbol. Feel free share to share any charts you make with a Price Note below in the comments.
Please also share any questions or feedback below. Thanks for reading.
