Module 2   Technical AnalysisChapter 21

Interesting features on TradingView

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If you don’t know already, then TradingView is now available on Kite. Here is the TradingQ&A post announcing the beta launch.

Given this, I thought I could share a few of my favourite features on Tradingview (TV) and hopefully, this will help you, especially if you are new to TV. I do not intend to discuss the most obvious charting features on TV, as that I’m guessing would be quite intuitive to understand. These are a few offbeat ones, comes in quite handy when you are working with the charts.

21.1 Multi timeframe settings

This feature is not specific to TV, but I do get a sense that this works better on TV compared to other platforms. I’m sure most of you are fairly familiar with the layout options.

Imagine, you intend to trade ‘Indigo’ on an intraday basis.  One of the things, you’d want to look at before placing the order is how Indigo’s price looks on different time frames. The regular practice is to change the frequency from 1 day to say, 15 minutes or 5 minutes. While this serves the purpose, it would nice if you can see how the chart looks at different periods on a continuous and simultaneous basis. This helps you anchor the price and build a perspective of where the current market price is with respect to other timeframes. For example, I like to look at the 1-day chart, 30-minute chart, and 15-minute chart, all at the same time.

You can do this fairly easily with TV. Here is how –

Click on the ‘Select layout’, an option available at the top right corner, and a select a layout you are comfortable with. Since I want 3 charts, I’ve picked a 3 chart layout which suits my preference.

Once you pick the layout, this is how the chart layout appears. Notice all the three charts now displays the same scrip, same time frame i.e Indigo’s 1-day chart –

Also note, within the three charts, the one on the left panel is highlighted, this is evident with the blue border.

The next step is to change the time frame across the three periods. My personal preference is to keep the left panel to the frequency that I intend to trade on i.e 15 minutes, the right top panel would be 30 mins, and the right bottom panel would be 1 day. You can change the time-frequency by clicking on the chart (when you do so, the chart is highlighted and a blue border appears), and changing the frequency to your desired one. The option to change the frequency is highlighted by a red arrow.

With this layout, I can now see all the price behaviour across all the periods in 1 single shot.

Once you have this setup, then you can do a few cool things. For example, the crosshair is in sync here –

So when you place the crosshair on a particular price point, it appears across all the time frames simultaneously. This helps you build a perspective on the price action panning out across these time frames.

Out of the three charts, if you want to focus on any 1 particular chart, then simply click on the toggle button at the right bottom. This will blow out the chart to help you focus better –

You can annotate the chart, make notes, and make it visible on only the desired timeframe. For example, the end of day chart may hint at a double top, if yes, I want to keep my shorts ready. However, this is on the end of day chart. So I can annotate just that chart. Click on the text options, and select a text box –

Drop the text box to the time-period you want and scribble your notes –

That’s with the multi-time frame functionality, which in my opinion helps with intraday trades.

21.2 Undo-Redo

This one is a fun feature that I really like. Many times, I mess up the charts by placing trend lines and indicators that does not make sense, like this one –

If you have to get rid of this, in most of the other platforms, you’d be required to select the trend line and delete. In TV, you can do this with a click. Please note, the undo functionality undoes only the most recent action.

21.3 Visibility

This is another cool feature. The visibility settings help you visualize a certain drawing or a trend line only on a certain time-period. Here is an example of Fibonacci retracement on the end of day chart –

Now, I change this to an hourly chart, and I can still see the Fibonacci retracement –

This can be a distraction as the study may not really be relevant to this particular time frame. TV has this feature wherein you can fix the study only to the relevant time frame, and when you change the time frame the study would not appear.

To do this, double click on the study and invoke the settings –

Here, I’ve specified that the study should be visible only on the end of day chart. So when I change the frequency to any other, this study will not appear.

21.4 Go-to date

This one is really cool. How many times have you been in a situation where you would want to figure out how the stock price behaved on a certain date on a specific time. Let’s say, I want to know what Infy did on 2nd Jan 2019, at 12:30 PM. To figure this, you usually have to scroll through the charts and after few trial and error, you’d land upon the exact date. There is no such hassle with TV, as TV has a ‘Go-to’, feature. This feature is so powerful that it can take you to the exact candle even on an intraday basis. This is available right at the bottom of the chart –

Here, I’m looking at March 5th, 12:15 PM candle –

21.5 HD images

How many times, have you created a meaningful chart with tons of study on it. You want to share it with your friend over what apps or just tweet it out, but you end up taking a screenshot of the chart and that results in a rather ugly output. You can avoid this by taking high-quality images of the chart on TV.

To get the image, all you need to do is click on ‘Alt + S’ –

This will give you an option to either save the image or tweet it.

I’ll keep this chapter open. I’ll add more interesting features as I discover them myself. Meanwhile, if you have something interesting to share, go ahead and comment below.

Happy trading!

645 comments

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  1. Sudheer Chejarla says:

    Hello,

    Thank you for introducing this useful feature. I tried to find it on Kite but couldn’t find any option to open TV.
    Could you please help me to navigate to this feature?

    Regards,
    Sudheer Chejarla

  2. Mohan says:

    Your 8th March candle is not showing properly irrespective of charting software and scrips.

  3. Ankitkumar says:

    After the recent fiasco, i had made up my mind that my annual renewal date is coming on 10th April before that I will submit my account closure request with u guys. But after introducing tradingView on the platform, I just fell in love all again with the brand Zerodha. Keeping up with technical features is something nobody can take from zerodha.. And now I sure, as time pass by, zerodha will come up with solution for all the problems we, users, face during few occasions. U earned respect all over again! Thank You Zerodha

    • Karthik Rangappa says:

      Many thanks for your understanding and cooperation, Ankit. Unfortunately, the fiasco was not in our control and trust me, we are deeply disturbed by it. We will continue to do our best to provide the most amazing tools and features to our clients. It is more like a cause we are committed to.

  4. Bhushan K says:

    HI Karthik Ji,
    Accolades to Team Zerodha for Finally having TradingView Charts on your platform much after the false promises passed by Mr. T Siva.
    None the less, please look into the following points.
    1. TV charts do not get fit into one page. Thereby the portion of volume or other indicators cannot be seen unless the chart is pop out.
    2. The old functionality of choosing the ONLY SCRIPTS marked in the Marketwatch only are appearing. If the script is not added to the marketwatch then the chart is not allowed to be open. This is not in tune with the integeration which Sharekhan and Fyers (Entire platform of TV) is made available. Please allow all scripts irrespective whether it is added to marketwatch or not to be opened for charts.
    3. TV Features of Buy and Sell orders from chart is not made available. Without this it is of not much use since the same can be viewed on TV Website just by opening a FREE ACCOUNT. Please consider ASAP.

    Hoping to get a Favourable Reply from Team Zerodha.
    Indeed Mr. Karthik, honestly your efforts for Zerodha Varsity is unmatchable in the industry and is of highest quality parameters.
    Good Work Done Team Varsity. Hope to get more added modules on Derivatives and All sorts of Option Strategies for free reading and learning which other trainers and paid programs teach for more than 30K.

    Cheers
    Regards
    Bhushan K

    • Karthik Rangappa says:

      Bhushan, Siva has played a key role in getting this up a and running, so we need to be thanking him. Unfortunately, timelines are something that no one can bank upon 🙂

      1) For a feature rich charting package like TV, I guess it makes sense to pop out the chart. However, I will look into this.
      2) We have kept it this way to optimize on bandwidth. By the way, we have 40 * 5 scrips in marketwatch, this is 200 scrips. I guess this should be good enough 🙂
      3) You will have to popout and click on the top left button now. Looking into this though.

      I’m glad you liked the content on Varsity, Bhushan. We are looking at enhancing the content everyday!

  5. RYAN DIAS says:

    Why do the drawn lines wont get saved ??

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