Best way to Explain How to Use TradingView on Binance Website

The Binance trading interface contains a robust set of tools and options to help you in your trading analysis. Let dive in for better understanding of all investor’s world wild.

robust set of tools and options to help you in your trading analysis These include:

• Candlestick charts
• Depth charts
• Time intervals
• Drawing tools
• Technical indicators

TradingView allows users to create a customized toolset for technical analysis. Let’s see how to use it on Binance.

What Is Technical Analysis?

Technical analysis (TA), often referred to as charting, is a type of analysis that aims to predict future market behavior based on previous price action and volume data. The TA approach is extensively applied to stocks and other assets in traditional financial markets, but it is also an integral component of trading digital currencies in the cryptocurrency market.

Opening TradingView

The TradingView and trading tools are accessible in both the Classic and Advanced versions of our UI. These two views offer different, editable UI layouts and are switchable at any time.

best wat to set up your binance account for trade step by step.

1. Log in to your Binance account and hover over the [Trade] button before clicking either [Advanced] or [Classic].

2. Click [TradingView] above the chart to gain full access to the trading tools available and candlestick charts.

You will note that moving averages are already displayed on the chart. You can access their settings by clicking the [Settings] icon in the red square shown below. Each moving average is adjusted according to the specified time frame. For example, MA(7) is the moving average over seven candles of your time interval (e.g. 7 hours if you are using a 1H chart or 7 days if it’s a 1D chart).
MA (7) – Purple
MA (25) – Red
MA (99) – Cyan

What is Moving Average

The moving average [M.A] is a calculation of the average price that digital asset [cryptocurrency] is trading for a set period of time in the market, learn more about moving average here.

[Depth] provides a visual representation of unfilled buy/sell orders on the order book.

Candlestick Charts

Candlestick charts are a graphical representation of the price movements of an asset. The timeframe of each candlestick is customizable and can represent a given period. Each candlestick contains the open price/close price/high price/low price, along with the highest and lowest price in the period.To customize your candlestick chart, double-click on any of the candles in [TradingView] to bring up its settings.

• [Style] allows you to change the way your candlesticks look.
• [Scales] gives numerous options for the scaling and margin of your candlesticks, including Auto Scale, Log Scale, and Percentage Scale.
• [Background] provides options for changing the look of the candlestick chart’s background.
• [Timezone/Sessions] allows you to choose your timezone.

Candlestick Intervals

The timeframe represented by each candlestick is alterable by selecting one of the default options above the graph. If you require more intervals, click the downward-facing arrow on the right-hand side.

Here you can select a new interval or press the [Edit] button to add more intervals to your default options.

Drawing Tools

The left-hand side of the chart provides several drawing tools and options to help with your charting analysis. You can also right-click each tool to find variations of the tool’s primary function.

Popular Basic Tools

Long/short position

The long or short position tool allows you to track or simulate a trading position. You can manually adjust the Entry Price, Take Profit, and Stop-Loss levels. You will then see the corresponding risk/reward ratio.

1. Select either the [Long Position] or [Short Position] tool.

2. Click on the graph to create your long/short position. The green shaded area represents your target (potential profit), whereas the red shows your stop-loss area (potential loss). At the center, you can see the risk/reward ratio.

3. Drag the borders of the box to change your Risk/Reward Ratio. Target shows the difference in price between your Entry Price and the Take Profit level. Stop shows the price difference between your entry price and Stop-Loss level.

Double-click the Long Position/Short Position chart to adjust its settings. You can change the investment amount under [Account Size] along with your percentage risk. [Coordinates] allows you to change your Take Profit, Entry Price, and Stop Level numerically, while [Visibility] offers graphical customization.

Technical Indicators

Technical indicators, such as Moving Average or Bollinger Bands, are addable in the trading view.

Click the [Technical Indicator] icon for a list of all available options.

Once you have chosen a technical indicator, it becomes visible on the candlestick chart.

How to reset the chart?

To remove the technical indicators, simply click on it to bring up the floating toolbox, then click on the bin icon.

If you want to reset the whole chart, right-click anywhere on the chart and click [Reset Chart], or press [Alt + R] on your keyboard.

How to view an asset’s 24-hour performance in other timezones BNB

1. Click on the clock on the bottom right to change the timezone.

2. After changing your timezone, the chart will display the asset’s performance in [1D] (24 hours).

You can view the asset’s 24-hour performance on the chart. For example, the 24-hour performance for BTC/BUSD on 2022-03-02 (UTC+0) was -75.93 (-0.17%).