When you first launch TradingView, you're greeted with a clean, intuitive interface designed to help you make informed trading decisions. At the heart of this platform lies its powerful charting system, which is highly customizable and comes with a set of default settings. Understanding these defaults is crucial for new users to get started quickly and efficiently.
TradingView's chart default settings are thoughtfully designed to provide a balanced view of the market, offering enough information without overwhelming beginners. However, as you grow more comfortable with the platform, you'll likely want to tailor these settings to suit your unique trading style and preferences.
Default Chart Type and Timeframe
By default, TradingView displays charts in the candlestick format, which is widely used due to its ability to represent both price action and volatility. Each candlestick consists of a body (the opening and closing prices) and wicks (the highest and lowest prices during the period). This format allows traders to quickly identify trends, support and resistance levels, and potential reversal points.
The default timeframe is set to 1D (daily), providing a broad overview of the asset's performance over the past 24 hours. This timeframe is useful for identifying long-term trends and major support/resistance levels. However, TradingView allows you to switch between various timeframes, from 1 minute to 1 month, to analyze price action at different levels of granularity.
Default Indicators
TradingView's default chart comes with a handful of popular indicators pre-added, offering a starting point for technical analysis. These include:
- Moving Averages: Simple and Exponential Moving Averages (SMA and EMA) with periods of 20 and 50, helping to identify trends and support/resistance levels.
- Relative Strength Index (RSI): A momentum oscillator that measures the speed and change of price movements, with a default period of 14.
- On-Balance Volume (OBV): A momentum indicator that uses volume flow to measure buying and selling pressure, with a default period of 20.
These indicators provide a solid foundation for technical analysis, but TradingView offers a vast library of additional indicators that you can add or replace as needed.
Default Drawing Tools
TradingView's default chart also includes a few basic drawing tools to help you analyze price action and identify key levels:
- Trendlines: Straight lines that connect two or more price points to identify trends.
- Channels: Parallel lines that enclose price action to identify support and resistance zones.
- Fibonacci Retracement and Extension Tools: Popular tools that use Fibonacci ratios to identify potential support/resistance levels and price targets.
These tools are just the beginning of what TradingView has to offer. The platform includes numerous other drawing tools, such as shapes, text, and arrows, allowing you to fully customize your charts to fit your analysis style.
Default Chart Layout and Appearance
TradingView's default chart layout features a clean, uncluttered design with a white background and dark candlesticks. This layout provides excellent contrast, making it easy to read price action and other elements on the chart. The default font is a crisp, modern sans-serif, ensuring that text and labels are easily readable.
The default chart also includes a small, fixed panel on the right-hand side, displaying a miniaturized version of the main chart. This panel allows you to quickly switch between timeframes and view multiple timeframes simultaneously, providing a broader perspective on price action.
Default Chart Overlays
TradingView's default chart comes with a few overlays that provide additional context and analysis:
- Volume Profile: A histogram that displays the volume traded at each price level, helping to identify high-volume areas and potential support/resistance levels.
- Market Depth: A panel that displays the current order book, showing the highest bid and lowest ask prices, as well as the volume available at each price level.
These overlays offer valuable insights into market dynamics, but TradingView provides many more overlays that you can add or replace as needed.
As you become more familiar with TradingView's charting system, you'll likely want to customize your charts to better suit your trading style and preferences. The platform's extensive customization options allow you to tailor every aspect of your charts, from the chart type and timeframe to the indicators, drawing tools, and overlays you use. By understanding and adjusting the default chart settings, you can create a powerful, personalized trading environment that helps you make informed decisions in the markets.