Bharat SainiLast Updated on February 19, 2024 by Bharat Saini
Do you know that there’s a comprehensive charting platform called TradingView? TradingView offers real-time charts along with advanced insights to streamline your trading experience. Connecting your broker to TradingView can improve your trading experience.
In this article, we will discuss the prime reasons to connect your broker to this broking platform.
Why Connect Your Broker to TradingView?
Let’s explore five reasons explaining the benefits of connecting your broker to TradingView.
1. Advanced Indicators and Tools
You can access over 104 advanced indicators on TradingView to spearhead your trading strategy. This platform also offers over 80 drawing tools to help users make strategic decisions through their brokers.
One can set up as many as 8 charts on a single screen simultaneously. Additional features include customizing the indicators and using TradingView to test them. TradingView broker like Dhan lets you use each drawing tool and indicator as a unique strategy to visualize potential trading opportunities.
These indicators and tools on Tradingview ensure that you don’t miss out on crucial prospects.
2. Backtest Using Pine Script
Users on TradingView can develop and test different trading strategies. It runs on the Pine Script programming language, using which you can implement your strategies once your broker is connected.
On TradingView, Pine Script enables you to carry out backtesting by simulating historical market conditions. So, you can analyze strategies by developing custom scripts, evaluate performance, and optimize your trading algorithms.
Pine Script features inbuilt functions to create complex strategies, indicators, and alerts to enhance the backtesting process. With insights into the potential strengths and weaknesses of your strategies, you can implement them in live trading with confidence.
3. Instant Trades
Once you integrate your broker on the TradingView broking platform, you can get real-time insight into price movements. This will help you test strategies, and view and modify your orders directly from the charts.
The process is easy since you need not toggle between screens and tabs. As a result, you can make instant trading decisions, making the most of the opportunities and maximizing your gains.
4. Real-time Market Quotes
Another reason to integrate TradingView with your broker is that it allows you to track and evaluate market quotes in real-time from thousands of stocks, futures, forex, and currencies.
Real-time quotes help you grasp the ongoing market condition. With these updates, you can understand market sentiments better to predict trends and execute trades at the right time. This makes trading intraday very easy and quick.
5. Leverage the Trading Community
Lastly, there is also a social benefit of Tradingview that you get to share ideas, strategies, and trading approaches with an active community. You can also follow other traders, adopt their ideas, and engage in discussions.
This helps you gain additional insights into the financial markets to refine your approach and strategies. You can get this benefit by integrating your broker with TradingView.
Conclusion
Whether you are a trader or an investor, a platform like Tradingview proves invaluable from a financial standpoint. You can enjoy a plethora of indicators and tools, along with real-time market insights and a vibrant community on TradingView to redefine your trading experience. For accessing TradingView for free, consider Dhan.
