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A Comprehensive Guide to TradingView Paid Version: Features, Benefits, and Why It’s Worth It
TradingView is one of the most popular charting platforms for traders and investors worldwide. With its user-friendly interface and powerful tools, it has become a go-to solution for analyzing financial markets. While the free version of TradingView offers substantial features, the paid versions—Pro, Pro+, and Premium—elevate the experience to a whole new level. This article dives deep into TradingView’s paid version, exploring its features, advantages, and why it could be a game-changer for serious traders.
Key Differences Between TradingView Plans
TradingView offers four tiers:
- Free
- Pro
- Pro+
- Premium
The primary differences lie in the number of features, data access, and the level of customization.
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Premium Plan Highlights
The Premium plan, being the top-tier offering, comes with:
- 25 chart layouts: Compare multiple assets on a single screen seamlessly.
- 25 indicators per chart: Conduct in-depth technical analysis.
- 20,000 historical bars: Perform extensive backtesting to evaluate strategies.
- 400 alerts: Get notified instantly about market movements or custom conditions.
- Deep backtesting: Test strategies on all historical data, not just what’s loaded on the chart.
- No advertisements: Enjoy an uninterrupted trading experience.
- Priority customer support: Get help faster when you need it.
These features make the paid version highly valuable for traders who rely on advanced tools and deep data insights.
Why 20,000 Historical Bars Are Crucial
One of the standout features of the Premium plan is access to 20,000 historical bars. This feature is essential for traders looking to:
- Evaluate Trading Strategies:
Many traders use scripts or trading systems available on TradingView. However, limited historical data can lead to inaccurate results. Testing a strategy over an extended data set provides a clearer picture of its performance across various market conditions. - Avoid Curve Fitting:
When strategies are tested on small data sets, they may appear profitable but fail in real-world trading. Access to thousands of historical bars allows for robust backtesting, helping traders identify strategies with genuine potential. - Optimize Scripts and Algorithms:
With extensive data, traders can refine their algorithms for better performance, ensuring they’re prepared for long-term trading success.
Advanced Features in TradingView Paid Versions
Volume Profile Indicator
The Volume Profile tool is a favorite among traders using the Premium plan. It provides a visual representation of trading volume at different price levels. Here’s why it’s important:
- Identifying Key Price Levels: Traders can see areas with the highest trading activity, which often act as strong support or resistance levels.
- Setting Accurate Targets: For instance, if the British Pound/US Dollar (GBP/USD) pair shows a high-volume level at 1.2345, traders can use this as a probable price target.
- Enhanced Strategy Development: Many strategies revolve around volume profiles to pinpoint high-probability trades.
Deep Backtesting
Another major advantage of the Premium plan is Deep Backtesting. Unlike standard backtesting, deep testing evaluates strategies using the entire historical dataset for a symbol.
- Benefits of Deep Testing:
- Helps simulate real-market conditions over extended periods.
- Provides insights into how a strategy performs during different market cycles, such as trends or consolidations.
- Reduces the likelihood of false positives, ensuring only robust strategies are implemented.
For example, testing a Moving Average Convergence Divergence (MACD) strategy over two years might reveal that while it performs well in certain months, its overall profitability is subpar. Such insights are critical for traders aiming for consistency.
Comparing Multiple Strategies
The paid version allows traders to analyze and compare strategies side-by-side. For instance:
- Testing a Keltner Channel strategy against GBP/USD for three years might reveal its weaknesses in volatile conditions.
- Simultaneously, traders can evaluate other systems and pick the one with the best performance metrics, such as profit factor or win rate.
Enhancing the Trading Experience
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The absence of ads in the paid versions ensures an uninterrupted trading experience. This is particularly useful for traders who spend hours analyzing charts and need to maintain focus.
Real-Time Alerts
With up to 400 custom alerts, traders can set notifications for:
- Price movements.
- Indicator conditions (e.g., RSI crossing a specific threshold).
- Custom scripts or strategies.
These alerts are sent via email, SMS, or app notifications, ensuring traders never miss critical opportunities.
Practical Benefits of the Free Trial
TradingView offers a 30-day free trial for its paid plans, allowing users to explore premium features before committing. During this period, traders can:
- Test multiple strategies.
- Evaluate advanced tools like volume profiles and deep backtesting.
- Experience the ad-free interface.
Real-World Use Case: Testing a MACD Strategy
To demonstrate the power of the Premium plan, let’s consider a scenario where a trader tests a MACD strategy:
- Strategy Application: The trader applies the MACD script to GBP/USD.
- Deep Backtesting: The strategy is tested over two years of data.
- Results Analysis:
- 1,996 trades executed.
- 34% win rate.
- Profit factor: 0.95 (indicating losses).
This process helps the trader avoid relying on a losing strategy and prompts further exploration of profitable systems.
A Vision for Future Content
As highlighted in the FxIgor YouTube video, future content will focus on:
- Exploring the best expert advisors (EAs) and scripts available on TradingView.
- Testing these strategies using the Premium plan’s features.
- Sharing real-world performance metrics to help traders make informed decisions.
Conclusion
The paid versions of TradingView, particularly the Premium plan, offer a wealth of features designed to empower traders. From extensive historical data and deep backtesting to advanced tools like volume profiles, these features provide the foundation for robust trading strategies. While the free version is excellent for beginners, serious traders will find immense value in upgrading to a paid plan.
If you’re committed to taking your trading to the next level, explore the free trial of TradingView’s paid versions and unlock its full potential. Whether you’re backtesting strategies, analyzing volume profiles, or setting real-time alerts, the Premium plan ensures you have everything you need to succeed.