Trading View is a popular charting and analytical platform used by traders to study and analyze the financial markets. It is widely used by forex traders due to its customizable charts and indicators. In this article, we’ll explain how to set up Trading View for forex.
Step 1: Sign Up for a Trading View Account
The first step is to sign up for a Trading View account. You can sign up for a free account or a paid subscription. The free account comes with limited features, while the paid subscription gives you access to more advanced features.
Step 2: Choose a Forex Broker
To trade forex on Trading View, you need to connect your trading account with a forex broker. Trading View supports several forex brokers, including OANDA, FXCM, and Interactive Brokers.
Step 3: Connect Your Brokerage Account
Once you have chosen a forex broker, you need to connect your brokerage account with Trading View. To do this, go to the Trading Panel and click on “Brokerage Account.” Follow the instructions to connect your account.
Step 4: Set Up Your Chart
Now that you have connected your brokerage account, you can set up your chart. To do this, click on the “Chart” button on the top left-hand side of the screen. This will open up a new chart window.
Step 5: Choose Your Forex Pair
Next, you need to choose the forex pair you want to trade. To do this, click on the “Symbol” button on the top left-hand side of the chart window. This will open up a drop-down menu where you can select your forex pair.
Step 6: Choose Your Timeframe
After selecting your forex pair, you need to choose your timeframe. The timeframe refers to the period of time that each candlestick represents. To choose your timeframe, click on the “Resolution” button on the top left-hand side of the chart window. This will open up a drop-down menu where you can select your timeframe.
Step 7: Add Indicators
Now that you have set up your chart, you can add indicators to help you analyze the market. To do this, click on the “Indicators” button on the top left-hand side of the chart window. This will open up a drop-down menu where you can select the indicators you want to add.
Step 8: Save Your Chart
Once you have customized your chart, you can save it for future use. To do this, click on the “Save” button on the top left-hand side of the chart window. This will save your chart to your Trading View account.
Step 9: Make a Trade
Finally, you can make a trade using Trading View. To do this, go to the Trading Panel and click on “Trade.” Follow the instructions to enter your trade.
Conclusion
Setting up Trading View for forex is a simple process that can be completed in a few easy steps. By following the steps outlined in this article, you can customize your chart, add indicators, and make trades using Trading View. With its powerful charting and analytical tools, Trading View is an excellent platform for forex traders looking to analyze the market and make informed trading decisions.
