TradingView Masterclass: How To Use The Top ToolbarIn this guide, you’ll learn about all the different tools that are available to you on the chart. Specifically, we’ll be looking at the toolbars that are located at the top, bottom, left and right of the chart:
To summarize the chart above, the breakdown looks like this:
Top toolbar: Chart tools
Left-side toolbar: Drawing tools
Right-side toolbar: Community tools
Bottom toolbar: Advanced tools
Now, let’s dive into each one starting with the top toolbar where you’ll find many of the most important chart tools for all your research needs. Keep in mind that we’ve ordered each item below as if we are moving from the furthest point at the top left to the furthest point to the top right. Let’s begin!
Symbol Search (Keyboard shortcut: type the ticker)
Open the symbol search at the top left-hand corner to access over 100,000 global assets across equities, forex, crypto, futures, and more. You can find them by their ticker (e.g., type NVDA for NVIDIA Corporation) or by their description names (e.g., type the name Apple to find AAPL stock). It’s also possible to find your favorite symbols with partial searches, that is, to write part of the ticker or description name and then select the corresponding asset in the search results. If you want to filter by asset type, you can select one of the following: Stocks, Funds, Futures, Forex, Crypto, Indices, Bonds and Economy (economic indicators).
Time Intervals (Keyboard shortcut: press ,)
Select the time interval for the chart. For instance, say you’re looking at a candlestick chart and you choose a daily chart. That means each trading day will be represented by 1 candle. The most common time intervals are: 1m, 5m, 30m (intraday setups) 1h, 4h (swing trading setups) and 1D, 1W and 1M (long-term trading setups). Traders can create custom intervals as well by clicking on the Time Interval arrow and then selecting the specific parameters needed. Don’t forget to add it to your favorites if you want it to be featured in the Quick Access toolbar.
Chart types
We have more than 15 chart types available to analyze all price movements, including the new HLC area, Line with markers and Step line. Most traders prefer to use Bars, Candles and Area charts, but everyone has a different approach to markets. Be sure to find the chart type that fits your style.
Indicators, Strategies, and Metrics (Keyboard shortcut: press /)
Indicators, Strategies, and Metrics are designed to provide additional insight and information that may otherwise be difficult to see. We have over 200 technical and financial indicators while also supporting over 100,000 custom scripts coded by our community. The best way to get started here is to start exploring the Indicators, Strategies, and Metrics menu as soon as possible.
Indicator Templates
Here, you can save your custom indicator setups so that you can load them at any point in time. This tool is essential if you utilize different forms of analysis. For example, if you chart technicals and fundamentals, you can make two separate templates that can be loaded at any point depending on your need.
Alert (Keyboard shortcut: Alt + A)
Alerts are used to create custom price alerts. Instead of watching markets 24/7, go ahead and create an alert at a precise level and then wait for that alert to trigger. Let our alerts do the heavy lifting. They’re always watching markets for you. It is also possible to configure them different notifications so that you can be alerted through email, our free app or with a webhook.
Bar Replay
Bar Replay is a powerful, yet simple tool for backtesting. All experience levels can use Bar Replay for backtesting, practicing or learning about price history. To get started, click the Bar Replay button and then select a historical moment to rewind the chart backward to that point in time. Then, you can press play or pause, and retrade that moment to see how your strategy performs.
Undo/Redo Scroll (Keyboard shortcut: Ctrl + Z / Ctrl + Y)
Any changes made to the charts such as drawings or indicators can be deleted or recreated. This works just like a Word document you might create on Microsoft or Google. Use the keyboard shortcuts to quickly undo or redo specific actions.
Multi-chart Layout
If you have an Essential, Plus, Premium, or Ultimate plan, you can analyze multiple charts on your screen at the same time. Simply choose one of the available layouts from the menu to get started. You can also synchronize symbols, intervals, crosshairs, time and data ranges with the selected layout.
Manage Layouts
Create, rename and load all the layouts that you save. You can also share your layout and enable the autosave option, which is very handy so that all of your work is saved automatically. Managing your layouts is an essential part of your analytical process because it enables multiple different chart layouts to be accessed as quickly and easily as possible.
Quick Search
Need to find a function or tool on your chart? Open and use Quick Search to do that. The name of the tool is just as it can be used: quickly search for the things you need to edit, add or remove on your chart, and do it in a flash.
Chart Settings
This is where you can customize all of the fine details about your chart. The Chart Settings menu has everything from the chart color, to the gridlines and labels, the text of the scales, and more.
Fullscreen Mode (Shift + F)
When this is enabled, you will see only the chart. To exit Full screen mode, click ‘Esc’.
Snapshot and Publish
Here you can download your charts as images, copy links, share tweets, publish ideas, create live streaming video content, and comment on assets with our latest feature Minds. If you want to share your expert analysis or get feedback from others, you’ll surely want to learn how these social tools work. Go ahead and give it a try - join our community of traders.
Thanks for reading and we hope this post helps all traders and investors. Whether you’re an experienced professional or someone just getting started, we plan to create more guides like this to ensure you know how to maximize the features on our platform.
Next week, we’ll share part two of this series, and cover the drawing tools menu on the left-side of the chart.
- Team TradingView
BARS
Educational: Renko Charts Explained The Renko chart is a potent tool that has grown in favor among technical analysts. Renko charts, which are derived from the Japanese word "renga," which means brick, offer a distinctive viewpoint on price action by ignoring the concept of time and concentrating only on price changes. This publication will explore the idea of Renko charts, explain how they're made, and show you how to use them to your advantage while making trading decisions.
🔷What are Renko Charts?
In contras to traditionally candlesticks or bar charts Renko charts do not track price movements by time but instead use bricks or ‘blocks’ of the same size,
Each bar on the daily timeframe chart here requires a price movement of 150 pips in order for a new bar to be formed. It does not matter how long it takes a new bar will not form until price price moves either 150 pips from the previous bar up or down.
🔷Renko Chart Construction:
Tradingview constructs Renko bars by the following steps
-Determine the brick size: The brick size represents the minimum price movement required for a new brick to form.
-Identify the brick direction: By contrasting the closing price of the current brick with the high or low of the prior brick, one can establish the direction of the brick. A new brick is created if the closing price is higher than the previous brick's high or low by the brick size.
-Plotting the bricks: The bricks are plotted on the chart, with each brick representing a fixed price range. The bricks are typically color-coded, with green or white bricks indicating bullish movements, and red or black bricks indicating bearish movements.
🔷How to use Renko Charts:
Identifying Trend: Renko charts are useful for spotting trends since they eliminate distractions and concentrate only on meaningful price changes. A series of rising bricks indicates an uptrend, whereas a series of falling bricks indicates a decline. Moving averages or trendlines can be used by traders to verify the trend's direction.
Breakout Trading: Breakout patterns can be found using Renko charts. When a fresh brick forms in the opposite direction of the prevailing trend, a breakout occurs. Can also be used for continuation breakout in current trend as well.
Trade management: By giving a clear visual picture of price changes, Renko charts can help in trade management. Traders can keep an eye on the growth of new bricks and modify their trailing stops or stop-loss levels accordingly.
By excluding noise from time intervals and concentrating only on noteworthy price moves, renko charts provide a distinctive viewpoint on price action. Renko charts help traders more accurately spot trends, support and resistance levels, and breakout patterns. However, Renko charts shouldn't be utilized alone, just like any other technical analysis tool. To improve trade decisions and manage risk effectively, they should be used in conjunction with other indicators and tools. Renko charts can be a useful addition to a trader's toolset with training and the right understanding, giving them a competitive edge in the volatile world of financial markets.
You can access Renko charts on Tradingview by using the chart type dropdown and selecting Renko charts.
🟨 Weekly Charts for ScreeningWhy look at weekly charts?
We look at weekly charts because it reduces volatility when scanning for stocks. This is especially important during bear markets when the stocks are more volatile.
What do we want to see?
Base depth no more than 30%
Close on the weekly bars near the highs
Closes are tight (about 1-1.5% of each other)
Peak closes on weekly
Big Volume on the Up Weeks
Lower Volume on the Down Weeks (compared to the Up weeks)
RS Line near highs while stock is still in base
Here are some of the stronger names I see today:
$HALO, $PODD, $PI
Explaining Bars, Graphic Guide Part 8As one of the most popular types of business charts, a bar chart provides a lot of information to technical analysts. As a result, it enables traders and investors to come up with thoughtful trading strategies, designed to take advantage of the market, allowing traders and investors to profit from different values.
To better understand a bar chart, you must learn its different parts.
High - is at the peak of a single bar. Represents the highest price for the day or time period you are using.
Open - This is the first price a security first trades at and only occurs when the stock market opens for trading. This is represented by a horizontal bar near the foot of the vertical bar.
Low: As the lowest price traded during the day, it is at the foot of the vertical bar.
Close: As the last traded price of the day, it is represented by a horizontal bar that projects towards the ad on the right located near the top / peak. During this time, traders are supposed to exit a trade or complete transactions before the market closes.
Direction: The bar graph indicates the direction and is represented by the opening and closing feet. What you need to know is that if the opening foot is above the closing foot, it indicates upward progress. When the closing foot is below the opening foot, this indicates that the price has moved down.
Range: is represented by the location of the top and bottom of the vertical bar. The Range value is calculated by subtracting the minimum from the maximum.
A bar chart belongs to OHLC charts or Open-High-Low-Close chart types and as such is formed through the connection of a series of price points. As a result, the chart is plotted on the X and Y axes. The X axis represents time which is represented in terms of days, while the Y axis represents price.
Bar Chart (OHLC)
OHLC = Open,High,Low,Close
Well, for simplicity, let's look at an example of the OHLC bar.
Now let's see how this bar is created:
The first thing that forms is the horizontal bar that appears on the left side.
Then a vertical line begins to form that will be in motion for the duration of the time interval that we have chosen. The upper end of the bar will be the maximum price, while the lower end will be the minimum price.
Finally, once the vertical bar is formed, a horizontal line will appear on its right side that will indicate the closing price of the bar.
Let's remember. Always, always, the opening price is on the left, regardless of whether it is above or below the horizontal line on the right.
If the horizontal bar on the left is below the horizontal line on the right, we will say that it is a bullish bar, since the price has closed above the one it opened.
On the contrary, if the bar on the left is above the bar on the right, we will say that it is a bearish bar, since the price closed below the opening price.
Let's better see an example of each one:
The left horizontal line informs us of the opening
The right horizontal bar informs us of the closure
Finally, comment that there are different types of bars and sizes. It is possible that the opening and closing prices are the same, or that the bar has no maximum or no minimum or, absence of both. What we have to be clear about is that it will always have a price that opens and another that closes the bar.
Here are some examples of bars for clarification.
1- Opening and closing at the same level without any movement occurring.
2- Opening and closing at highs
3- Minimum opening and closing
4- The closing coincides with the minimum
5- Opening at the maximum
5- Open coincides with the high and close coincides with the low
6- The open and close coincide, but the bar makes lows and highs
There are more types of bars, for example with the opening at the lows and the closing at the highs, among others.
Finally, although the bar chart provides us with all the price information, it has the disadvantage of not being so visual and can be confusing if we are not used to it.
Bar Features:
It is a unit of measure within different trading platforms. Considering it more or less the size of the predetermined time.
You are looking at a 1d period graph. The Bar will have the value of 1d. Period.
If you see it in graph 1min, the bar will have the value of 1min.
- Bars in 1d time.
- Bars in time 1min.
If we realize Bars does not have "Shadows" they are only lines which already includes the shadow within its line and its crossing to the next Bar would be the closing price.
This would be a way to see at which closing price for more accuracy. In any case, you are not interested in seeing the shadows and only visualizing the movements of the asset's value.
Keep in mind that this is a guide that I am developing from the most basic, until I advance to where I know, if you are interested, follow me.
CANDLSTICK or BARS. What common?There are public rules for graphing price movements on the charts of various market assets.
There are two main types of designation:
Candles
They were invented by the Japanese rice merchant Homma Munehisa, which is why they got the name - Japanese candles.
The candlestick gives information about deals within the selected period:
- Opening - the initial price of the period, the price of the first deal.
- High - the maximum price of the period
- Low - reasonable price of the period
- Close - the closing price of the period, the price of the last deal.
- The bod y of the candle is the distance between the open and close.
- Candle shadow - deviations from the opening and closing prices, maximum and minimum values of prices.
Depending on which direction the price went: rose or fell - the candlestick can be bearish or bullish.
Bars
This type of image is not much different from candles. They consist of exactly the same parts and display all the same information.
The bar is rather a more compact candlestick image. Instead of a full-fledged "body", only a vertical stroke is displayed.
What kind of depiction of price movements do you prefer?
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
