How to Use TradingView: Beginner’s Guide to Reading Charts and Planning Trades

If you’re new to trading, TradingView is one of the best places to start. It gives you real chart data, drawing tools, and indicators all in one simple platform. You can analyze stocks, forex, crypto, and other markets from your laptop or phone without paying for expensive software. But when you first open TradingView, the screen can feel crowded and overwhelming.

This guide walks you through the essentials step-by-step: how to set up your account, read price charts, use basic tools, and build your first watchlist. Once you understand these basics, you’ll have the foundation needed to plan trades properly and learn with structure.

Getting Started: Create Your TradingView Account

TradingView offers a free plan that’s more than enough for beginners.
Here’s the simplest way to set up:

1. Go to TradingView

2. Click Sign Up (use email, Google, or Apple login)

3. Choose the Free Plan
   

Once your dashboard loads, you’ll see:

Chart (center): where price moves (Green)

Watchlist (right side): assets you track (Blue)

Indicators + Drawing tools (left toolbars) (Red)

Timeframes & chart settings (top bar) (Orange)

When you hover any icon the tooltip tells you what it does

How to Read a Basic TradingView Chart

Every chart tells a story about price movement and your job is to understand it. By default, TradingView uses candlestick charts, which show where the price started (open), where it ended (close), and how high and low it moved during the candle.

Green candles = price closed higher than it opened
Red candles = price closed lower than it opened

Timeframes

Select from the top toolbar:

• 1m or 5m: quick intraday moves (more volatility)

• 1H: balanced view for short-term planning

• 1D: bigger picture (often best for beginners)

The timeframe you choose determines how much noise or clarity you see in price.

Use Essential Drawing Tools

TradingView has many drawing tools, but beginners only need a few:

How to access:

• Click the left toolbar

• Select the tool you want

• Click + drag on chart

Start with simple markings: Where does the price tend to bounce? Where does it stall? These are key decision areas.

Add Indicators That Actually Help Beginners

Most traders add too many indicators and end up confused.
Two are enough at the start:

Moving Average (MA)

Used to see overall trend direction

• Go to Indicators > search “MA”

• Add 20 MA + 50 MA

• Trend rule:

  • Price above both MAs = bullish behavior

  • Price below both MAs = bearish behavior

Volume or RSI

Choose ONE for strength confirmation:

• Volume = how strongly price is moving

• RSI = momentum & overbought/oversold areas

Avoid heavy indicator stacking. Keep the chart clean so decisions stay clear.

Create and Use a Watchlist

Your watchlist helps you track only the assets you actually want to study. This prevents randomly clicking through tickers hoping to spot something.

How to build it:

1. Search a stock/market symbol (top search bar)

2. Click “+” to add to watchlist

3. Group into categories if helpful (e.g., Stocks / Crypto / Forex)

Want a quick demo? Watch this short clip: “The SID Method — Setting Up a Watch List” on The Trading Cafe YouTube channel

How to Plan a Trade Using TradingView

TradingView isn’t just for looking at charts. It helps you plan your entry, exit, and risk before placing a trade. This keeps you disciplined and avoids guessing once the market moves.

Here’s a simple process you can follow each time:

1. Identify trend using moving averages

2. Find a clear level of support or resistance

3. Mark your potential entry (where a setup completes)

4. Set your stop-loss below support or above resistance

5. Choose a realistic profit target based on recent price movement

By doing this before you enter a trade, you avoid emotional decisions like holding a losing trade too long or taking profit too early.

Use the Risk/Reward Tool

TradingView includes a built-in tool that shows visually how much you’re risking and how much you could gain.

Where to find it:

• Left toolbar → Long Position (for buy trades)

• Or Short Position (for sell trades)

Why this matters:

• Proper risk-to-reward helps you stay profitable even if you lose often

• Beginners should aim for at least 1:2 or 1:3

Example:

• Risk: $10

• Potential reward: $30

• Even with a 40% win rate → profitable long-term

Adding Alerts to Stay Ahead of Price Movement

Alerts are one of the biggest hidden advantages of TradingView.
Instead of waiting at the screen, you can let the platform notify you when price reaches important levels.

How to set alerts:

1. Right-click a price level or line

2. Select Add Alert

3. Choose:

   • When alert triggers (e.g., crossing a line)

   • Notification type (app, SMS, email)

Alerts help you follow your plan without over-trading.

Simplicity First: Avoid These Beginner Mistakes

Many new traders get stuck inside the platform instead of learning trading itself.
Here are the most common mistakes to avoid:

• Too many indicators → messy chart, unclear signals

• Changing chart layouts constantly → nothing feels familiar

• Short timeframes only → too much noise and stress

• Zooming into every small move → perspective loss

• Treating the chart like the strategy → tools don’t replace skill

The chart is there to support your plan, not to create it for you. The Trading Cafe teaches a strategy-first approach so the tools serve your process, not the other way around.

Free vs Paid Plans: What Beginners Actually Need

You don’t need to upgrade your plan right away.
Here’s what matters at first:

As you become more advanced, you can explore paid options, but skills come first.

FAQs: TradingView for Beginners

Is TradingView good for beginners?
Yes. It’s simple to learn and offers the right tools to analyze charts without needing a broker attached.

How does TradingView work?
It pulls market pricing data and visualizes it into charts. You use drawing tools and indicators to analyze that movement and create a trading plan.

Can I use TradingView to trade real money?
Yes, TradingView connects to select brokers but most beginners analyze charts here, then place trades through their broker.

Can I trade with $1 on TradingView?
TradingView doesn’t control capital, your broker does. Some crypto brokers allow micro-position trading, but skill is more important than amount when starting.

Learn to Use TradingView With Structure

TradingView helps you see opportunities. The Trading Cafe teaches you when and how to act on them.

If you’d like to learn alongside vetted six-figure traders, you can:

• Join free live Q&A sessions

• Watch beginner-friendly tutorials

• Practice building strategy in a structured way

You can get started here: Join The Trading Cafe Free School