I've been using TradingView for awhile now and I love it. Watch this video to learn why I think it's so much better than MT4.
One of the features that I use a lot is TradingView flagged symbols. They are those little colored tags that you can add next to the symbols in your watchlist.
I'm going to be using it with Forex pairs in this post, but you can do the same thing with stocks, futures, CFDs, cryptocurrencies indexes and economic indicators.
If you have never setup a watchlist in TradingView before, watch this video.
If you already have a watchlist, then skip down to the next video.
If you don't want to watch the video, the text version is provided below.
Color Code and Meanings
Here's what I use the colors for. They make it very easy to see which pairs I have to check, journal and trade.
I can see the status of my whole list, at a glance.
- Red: Trades I missed. You can learn why I feel it's important to journal missed trades here.
- Orange: Trades that are close to setting up
- Green: Open trades
- Purple: Trades I'm watching, but aren't close to setting up yet
- Blue: Trades that should be journaled
Obviously you can use the colors in any way you see fit, but I just wanted to give you some ideas. You might only need to use 3 colors and that's great too.
Using the Filters
TradingView also makes it easy to filter your watchlist by flag color.
For example, if I only want to watch the pairs in which I'm close to executing a trade, I'll filter my watchlist to only see the orange flags.
When I sit down to journal, I'll filter the blue and red flags and add those trades to my trading journal.
Conclusion
So that's how you use TradingView Flagged Symbols. If you want to read the TradingView blog post, you can get it here.
They are an easy way to see the status of each of your charts, at a glance. TradingView does a really good job of making their platform super user friendly and this is a perfect example of how they listen to their users and implement elegant solutions.
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