Spot Trade offers a multitude of advanced charting tools which you may freely use to perfect your chart preferences and analysis - all with TradingView, an essential tool for traders looking to analyze cryptocurrency markets effectively. Learn how to utilize TradingView's features within the Spot Trade, focusing on its charting tools, time intervals, drawing tools, and technical indicators.
Located at the very top of the Trade View would be your selected cryptocurrency’s 24-hour price changes (for demonstration purposes, we’ll be using the ETHPHP trading pair here):
Chart Options
You have two primary chart options in Spot Trade:
Basic Charts:
Customize:
- Chart style
- Scales
- Background
- Time zone/sessions
- Time intervals of K-line
Advanced Charts:
Additional features:
- Placing Indicators
-
Drawing Tools for charting analysis
Time Intervals
Currently, you may choose from these time intervals for both Basic and Advanced Charts:
- 1 min, 5 min, 15 min, 30 min
- 1 hour, 2 hour, 4 hour, 6 hour, 12 hour
- 1 day, 1 week, 1 month
Drawing Tools
Located at the left hand section of your Advanced Charts are your Drawing Tools. Each tool represents key features that would help assist you in building your chart.
1. Cross - cursor used when using the chart. Can be changed to a Dot, Arrow, and an Eraser
2. Trend Line - allows you to place lines when analyzing price trends. Width, arrowhead, and color of the line is customizable
3. Pitch Fork - opens a wide variety of trend channels which you may use for your charting analysis
4. Brush - place indicators using a free-form brush
5. Text - can be used to insert text at certain points
6. XABCD Pattern - highlights a five (5) point chart pattern
7. Long Position - sets an entry point for user to assume a long position starting from that point
8. Icon - insert any special icon/character in the chart
9. Measure - used to estimate distance between bars
10. Zoom In - highlights a specific portion in the chart
11. Magnet Mode - can be used simultaneously any drawing tool to connect different bars/points easily
12. Stay In Drawing Mode - avoids repetition of clicking a drawing tool
13. Lock All Drawing Tools - locks all drawing objects in place
14. Show Objects Tree - can be used to manage and/or easily group drawing tools together
15. Remove Drawing Tools - delete all drawing progress applied in your chart
Technical Indicators
Technical indicators are crucial for making informed trading decisions.
TradingView offers a suite of more than 100 built-in indicators, such as:
- Bollinger Bands (BB): Measures price volatility.
- On Balance Volume (OBV): Compares price and volume to assess buying/selling pressure.
- Moving Averages (MA): Analyzes price trends over time.
These indicators can be accessed through the Advanced Chart section, allowing traders to apply various strategies based on their analysis.
To learn more about Technical Indicators, you may visit TradingView’s FAQ section here.
Pro Tip: Indicator Selection
- Choose indicators that align with your trading strategy
- Combine multiple indicators for comprehensive analysis
- Regularly update and review your indicator settings
Frequently Asked Questions
How do I make a trade order in Spot Trade?
- Select a trading pair: Choose the cryptocurrencies you want to trade.
- Choose an order type: Select Market, Limit, Stop-Limit, or Stop-Market based on your trading strategy.
- Enter the amount: Specify how much you want to buy or sell.
- Click Buy or Sell: Confirm your order.
How to view my market order history?
- For filled orders, you can check them under the Order History tab to view the Executed Price of each trade.
- For open orders, you can view them under the Open Order tab.
To cancel an order, click the Cancel icon directly.