Why I Switched From MetaTrader to TradingView: TradingView Review

what's up traders this is you in this video I'm going to show you why I switched from metatrader4 to trading view now you might think this is not a good idea because metatrader4 is free of course and it's a great platform it's a great charting platform so why would I switch there are basically five reasons first trading view is platform independent so I can get all these great charts um in a browser so I can log in on a Windows machine a Mac a Linux box or whatever and get the same charts that I would like with Metatrader without all the installation hassles number two the charts are solid the primary reason that I haven't used browser-based charts before is because the charts are kind of wacky you know it's like you go to scroll in or something or you go to change a color and it doesn't change and it just it's just a big mess and it's a headache that you know we don't need right so um but Training View has finally figured it out they've figured out how to make great browser-based charts that are easy to use so let's take a look at it real quick let's zoom in on this one and for example it's easy to go back and forth easy to zoom in out and you can go back quite a ways and it's just scrolling you know with your mouse so it makes it really easy so that's the second reason solid charting now the third reason is you can do multi timeframe analysis really quickly so here's one of my primary templates that I use as you can see I have the daily for our weekly and one-hour charts up at the same time and this makes it super simple to be able to flip through the charts and see the context of the trade that you're trying to take for example if I take a trade on the 4-hour chart I want to be able to see what's on the one-hour chart you know one timeframe lower and then on the daily chart 110 timeframe higher and then the weekly chart is good to have because that gives you a little bit of context as to what the longer-term trend might be right so what also makes it easy is that you can create a list like this I can watch this I have a Forex watchlist and then you can start at the top and then you can even hide this list and then just hit the down arrow and it'll go to the next pair on your list so you have all the screen real estate and it makes it super easy to just fit through each currency pair and get all the time frame on Metatrader you could create a matrix like this of four charts but then you would have to change each one individually and that's such a pain and it took me probably two or three times longer to check the charts on Metatrader than it does with trading view just because of this multi time frame lock capability so that's number three number four is access to other markets so with meta trader it's very broker based right so if the broker provides quotes for this P 500 or for oil or gold or whatever then you can get that inside a meta trader but if not then you're kind of screwed but with trading view you can also set up a a list for this as I have here so I set up markets and then now I can get stuff like Bitcoin the Dow S&P um the Russell 2000 gold etc etc so to do that I usually are to look at these markets I usually go to this one template that I have here and then I go to my markets list and that makes it easy to see things like okay well bitcoins really taking off and then you can go to the Dow SMP and same thing just hit the down arrow on your keyboard and you can just easily scroll through all of these all of these markets so that's another thing that makes it super easy and finally training view has some great features that I haven't seen on other platforms for example I really like their long and short position markers so for example if you want to mark off a short position you could put it here let's say that this was your open and then you put a stop maybe up here and then your take profit was down here so training view will show you the risk to reward ratio he'll show you the stop how far your stop is how far your profit it is and it makes it super easy to visualize your trade and you can just leave this up for the for however long you want to to see what the result of your trade would have been you can also take a snapshot and download the image and you can also publish the idea to the trading view community so even though I have to pay 420 view now I think it's well worth the price and I'm happy to pay it um and I think it's better than the alternative which is metatrader4 which is still a great platform but you have to go through the process of installing in and even if you do something like a Dropbox sync which I talked about in one of my blog posts it's still a little bit of a hassle because you can't have it open on two computers at once um you know etc etc so I believe that training view right now is the best charting platform out there the only downside the trading view is that there Pyne programming language isn't quite there yet so it's not as good as MQL and that's the reason why I still use Metatrader on a VPS to send a indicator alerts but one spine gets up to speed then I'm going to drop Metatrader completely so that's my review of trading view this is something that works for me I'm not saying that it works for everybody but those are the reasons why I like it so much and if you've been frustrated with Metatrader like I have been then this might be a great alternative alright hope that helps and thanks for watching

Channel: Trading Heroes

Views: 83,186

Keywords: forex, trading, trading heroes, tradingview, metatrader, metatrader review, tradingview review, fx, forex trading software, charting platform, forex trading, traders, day trading, tradingview forex, forex trading software for beginners, forex trading software reviews, forex charting platforms, metatrader 4 problems, forex trader

Id: qDRt13VPB3s

Length: 5min 55sec (355 seconds)

Published: Fri Dec 23 2016