Trading View

w00519773

Trading View have a Black Friday offer, which supposedly expires in 19 hours: https://www.tradingview.com/black-friday/

I have used the free version for the last year or so as I do like the screener.  I am debating whether or not to buy today or wait to see if their Cyber Monday offer is better.

Does anyone else have a Trading View Pro account and if so; what do you think of it? The only concern I have is that it seems to be so difficult to et reputation on their e.g. I have a Pine script that has 50 likes, but no upvotes.  You cannot use the chat facility until you have one upvote meaning you cannot contact them,

I realise the risks of trading and technical analysis.  I am more interested to learn more about it.

maxsteam

First impressions count for a lot with me. I visited their home page and the two prices quoted were bitcoin and Tesla. The charts of both of these did look good but they displayed ridiculously high spreads (maybe because markets are closed). It's probably not for me but I will look again when markets are open.

maxsteam

I looked at the FTSE100 index during market hours. The price is delayed and the spread is three times what it should be. They offer the chance to "choose your broker" but a spread like that is not coming from anyone reputable.

wmb194

maxsteam said:

I looked at the FTSE100 index during market hours. The price is delayed and the spread is three times what it should be. They offer the chance to "choose your broker" but a spread like that is not coming from anyone reputable.

I've been using TradingView for a while now and it's fine, although I pay to have live LSE prices. It just reports whatever the LSE is indicating and it matches my other live data. It's perfectly reputable.

Zola.

maxsteam said:

First impressions count for a lot with me. I visited their home page and the two prices quoted were bitcoin and Tesla. The charts of both of these did look good but they displayed ridiculously high spreads (maybe because markets are closed). It's probably not for me but I will look again when markets are open.

Bitcoin is never closed.

maxsteam

wmb194 said:

 It's perfectly reputable.

I suppose it depends on what you mean by reputable. The spread on the FTSE100 chart was 2.7 points when I looked. Offering to help choose a broker with such a spread is not doing their customers any favours. There are dozens of brokers offering a spread of 1 point. A few charge less (Fineco, for example, charge 0.6 points).

imho it's aimed at people who have bitcoin and Tesla at the top of their trading wish list.

I am looking out for a good charting site though. I am currently using a free service from a broker whom I seldom use.

wmb194

maxsteam said:

wmb194 said:

 It's perfectly reputable.

I suppose it depends on what you mean by reputable. The spread on the FTSE100 chart was 2.7 points when I looked. Offering to help choose a broker with such a spread is not doing their customers any favours. There are dozens of brokers offering a spread of 1 point. A few charge less (Fineco, for example, charge 0.6 points).

imho it's aimed at people who have bitcoin and Tesla at the top of their trading wish list.

I am looking out for a good charting site though. I am currently using a free service from a broker whom I seldom use.

TradingView is just a data provider to which you can link your brokerage account if the facility is available. The price your broker can obtain for you might be something different as, as you know, most can usually fill orders within the LSE's indicated spread. I don't know what you were looking at but in the time I've been using it the reported prices have been correct, matching both data from another provider and quotes from my brokers.

maxsteam

wmb194 said:

I don't know what you were looking at

If you put "FTSE 100" into the search box, you get a list of available charts. At the top of the list now is the chart offered by currency.com where the spread is currently varying between 2.6 and 2.9. Presumable, Trading View have put them top of the list because they pay more for referrals than the brokers who don't overcharge, or is it a recommendation?

wmb194

maxsteam said:

wmb194 said:

I don't know what you were looking at

If you put "FTSE 100" into the search box, you get a list of available charts. At the top of the list now is the chart offered by currency.com where the spread is currently varying between 2.6 and 2.9. Presumable, Trading View have put them top of the list because they pay more for referrals than the brokers who don't overcharge, or is it a recommendation?

It isn't a recommendation, it's just telling you the source of the data. If you look at quotes for currencies, companies in different markets etc. it will tell you the source of the data and sometimes give you warnings that it e.g., might not quite match the NYSE price as it's using data from the CBOE, usually free, but if you pay for NYSE data it'll give you NYSE prices. This is the problem with using single data points and jumping to conclusions.

maxsteam

wmb194 said

It isn't a recommendation, it's just...

It's top of their list and it's a bad broker.

wmb194

maxsteam said:

wmb194 said

It isn't a recommendation, it's just...

It's top of their list and it's a bad broker.

Yet if you enter, "FTSE 100" (not, "FTSE100" as you must have) the list is completely different. Never attribute to malice etc. etc. It has a bad search algorithm and it's at the whim of the naming used by whomever set the name for the security/instrument. 

As usual you're getting bogged down in minor irrelevances and not focussing on what the product offers. For drawing data from across the world and turning them into charts and watchlists it's pretty good and inexpensive.