Tradingview is a popular platform among traders and investors to analyze and trade various financial markets. The platform offers a forex screener that enables users to filter and sort through a large number of forex pairs based on various criteria. This article aims to provide an in-depth explanation of how to use the tradingview forex screener.
Step 1: Accessing the Forex Screener
To access the tradingview forex screener, users must first create an account on the platform. Once the account is created, users can click on the ‘Screener’ tab located on the top menu bar. This will provide a drop-down menu where users can select ‘Forex Screener.’ The forex screener will open in a new window, displaying a list of forex pairs.
Step 2: Setting up the Filters
The forex screener comes with various filters that users can apply to narrow down the search results. The filters are located on the left side of the screen and are categorized into different sections such as performance, technical, fundamental, and volatility. Users can click on each filter to expand it and select the desired options.
For example, under the ‘Performance’ section, users can select filters such as ‘Volume Change,’ ‘Price Change,’ and ‘Relative Strength Index (RSI)’ to identify forex pairs that have experienced significant changes in these metrics. Users can also use the ‘Technical’ section to filter forex pairs based on various technical indicators such as Moving Averages, Bollinger Bands, and MACD.
Step 3: Saving the Screener
Once users have applied the desired filters, they can save the screener by clicking on the ‘Save Screener’ button located on the top right corner of the screen. Users can enter a name for the screener and select whether they want to make it private or public. If the screener is set to public, other users can access and use it.
Step 4: Analyzing the Results
After applying the filters and saving the screener, the forex pairs that meet the selected criteria will be displayed on the screen. Users can analyze the results in various ways, such as by looking at the charts or comparing the metrics of different forex pairs.
For example, users can click on a forex pair to view its chart and analyze its price movements. Users can also compare the metrics of different forex pairs by selecting multiple pairs and clicking on the ‘Compare’ button located on the top menu bar. This will open a chart that displays the selected forex pairs side by side, enabling users to compare their performance.
The tradingview forex screener is a powerful tool that enables users to filter and sort through a large number of forex pairs based on various criteria. By using the filters, users can identify forex pairs that meet their specific requirements, such as those with high volume changes, strong technical indicators, or low volatility. The forex screener is easy to use and can be customized to suit the individual needs of traders and investors. By following the steps outlined in this article, users can make the most of the tradingview forex screener and gain valuable insights into the forex market.