May 29, by Hugh Kimura. For a long time, Metatrader was the very best charting software for Forex. It is still really good. In this post, I'll show you why I decided to switch from the free MT4 platform to the paid version of TradingView.

Some people may think that this is crazy, but I'll give you 5 reasons why I decided to do it. I'm not saying that you should switch…use whatever works best for you. But if you are frustrated with certain things about Metatrader, like I was, then TradingView might be a great alternative. If you have been reading this blog for awhile, then you know that I hate using Microsoft Windows.

Sure, you can install VMWare Fusion with Windows 7 to get MT4 to work on a Mac. Having a browser-based charting platform makes it easy to log into my TradingView account any computer and have all of my presets available. No more manual setups or Dropbox backups. This reason alone makes it worth considering. But other platforms have promised this ability and have fallen short on one huge thing. If you look at most of the online charting solutions that are available, they are pretty crappy.

Even Metatrader's online charting platform is a stripped down version of the installable version. Do you remember the first Java charts that were available for Forex? I'm talking back in like But you couldn't save any settings and they would always crash.

Newer online charts are quite a bit better, but they still face the same glitchy behavior. For example, one of TradingView's closest competitors not naming names doesn't change the background of a chart, even after you change them in the settings. In stark contrast, TradingView's charts are rock-solid. They scroll forward and backwards as expected and when you change a setting it actually works. From what I hear, TradingView spent a ton of money on their charts and it shows.

In my opinion, they are better than Metatrader charts. Since I'm a Swing Trader, I trade off the 4-hour and daily charts. But I also want to see the 1-hour and weekly charts to get some additional context. In Metatrader, you cannot instantly analyze different timeframes for the same currency pair. You have to switch each chart individually.

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But in TradingView, you can have 4 charts up at the same time and you can set each one to a different timeframe. When you switch currency pairs, all of the charts change to the new pair, but keep their timeframe.

This is super convenient and makes it so easy to analyze each pair, with just one click. You can also hit the down arrow on your keyboard and move to the next pair.

One big thing that is missing from most Metatrader installations is the ability to see other markets. But Metatrader was built to primarily be a Forex platform and only allow traders to see the trading instruments that are available from each broker.

So if your broker does not provide a data feed for gold, then you have to get it somewhere else. But on TradingView, I can see quotes for futures, commodities, stocks and FX. This makes it a one-stop platform to see everything I need.

Last, but certainly not least, the charting tools in TradingView are superior to any other platform that I have seen.

In Metatrader, I had to create three separate lines to mark my entry, stop loss and take profit. You can also save your charts or trading ideas, then play them forward after the trade has been closed. Click the play button on any of these charts and see it action.

As you know, a trade can look much different before you enter a trade and after it has been seen to completion. So by creating a before and after snapshot allows you to get a good feel for what the trade looked like when you entered.

All of the other TradingView tools are pretty standard. If we look forward to the near future, most trading software that we use is going to be browser-based. Any software that is platform dependent, is going to have to adapt or be overtaken by SaaS Software as a Service solutions.

I still use MT4 on a VPS for my alerts because the TradingView Pine programming language is not at the same level as Metatrader or Tradestation. Links on this page are affiliate links. We do make a commission if you purchase through these links, but it does not cost you anything extra and we only promote products and services that we personally use and believe in.

Futures Trading Platform < Track 'n Trade Futures Trading Software

A portion of the proceeds to my charity partner. Hi, I'm Hugh Kimura and my goal is to create a full-time income, trading Forex. If that is your goal too, then I invite you to join me on the journey. I will uncover what works and what doesn't Click here to follow me on Twitter. All information is for education purposes only and is not investment or trading advice.

March 24, at 4: March 28, at 9: Since it is an OTC market, you cannot get a complete picture of depth of market. February 23, at 4: March 1, at To get the most current pricing, use this link: February 15, at 8: Right now they have an embedded TV window inside of their own wrapper but it is lacking a lot of the functionality of the browser version. The Oanda rep said it is going to happen but they are working out the details their cost.

Depending those negotiations with TV and your account size you may have full pro functionality with a live Oanda account. Looking forward to that. February 17, at 1: February 9, at 1: Thanks for this blueprint review. February 12, at January 26, at 7: I have one question though. How can you trade with Oanda trough Tradingview? I can only see CQG and FXCM as available brokers.

January 26, at Yeah, they keep going back and forth with Oanda. You used to be able to trade with them, then it was Oanda Europe only. January 17, at 3: Do you know what brokers use Tradingview…. January 17, at December 23, at 4: Probably they are using same framework. December 23, at 5: Your email address will not be published. Notify me of followup comments via e-mail.

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The 7 Unconventional Rules of Maverick Forex Traders. Related Posts Why You Should Use Black and White Forex Charts Big Metatrader 4 Update: Comments Jan Brase says March 24, at 4: Hugh, Do you use the screening tools on TradingView or do you use something else for that?

Hi Brundo, To get the most current pricing, use this link: Thanks for the heads up Wayne. Looking forward to them adding it back into TV.

Hi Thank you for this review. Your blog really is a great read.

Thank you in advance. Hey Daniel, Yeah, they keep going back and forth with Oanda. Doug — Central Texas. Hi Dal, Yes, Oanda uses the TradingView charts for their Advanced charting. Leave a Reply Cancel reply Your email address will not be published.

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