As a trader, you would be spending hours observing charts to identify patterns and trends in price movements. Price charts offer a true picture of how the market is performing. Traders use such charting tools to discover valuable insights and explore strategies before they execute trades.
One such charting platform is TradingView. However, using the premium version of this platform can not be everyone’s cup of tea and that is why Dhan, a leading trading platform India has collaborated with TradingView to offer all its users a TradingView chart free of cost. By opening an account with Dhan, you can trade in equity, futures, options, indices, commodities, and currencies directly on TradingView charts via the integration. This article takes a deep dive into how you can leverage TradingView from your Dhan trading and investment platform.
1. Identifying Price Movements
You can monitor the price fluctuations for any security using the TradingView chart free on Dhan. It allows you to customize your chart settings and view real-time price changes. Use the charts to identify the support and resistance levels and other critical levels necessary to make informed decisions and build effective strategies.
2. Analyze Charts for Multiple Timeframes
TradingView offers multiple time frames suited for the Indian markets. You can view live charts in the 25-, 75-, and 125 minute timeframes. There is also the option of viewing charts in even longer timeframes like 3-month, 6-month, and yearly.
These timeframes can also be viewed as candlestick charts:
- 3 Candles: 25 minutes
- 5 Candles: 75 minutes
- 15 Candles: 125 minutes
Such options allow you to customize your charts based on your trading strategies and make an informed decision.
3. Instant Placement and Reversal of Orders
When you trade directly through TradingView chart free on Dhan, you can plan, manage, and execute orders directly using the native TradingView order placement window. You can place all kinds of orders – Market, Limit, Cover, and Bracket – on TradingView charts.
If you are a scalper or HFT trader, you can use the instant order placement setting to execute orders with a single click. If you want to reverse your position if the market shifts suddenly, click on the Reverse option and you are done.
4. Options Trading on Charts
Dhan allows you to trade options through TradingView charts and with indices, stocks, commodities, and currencies as underlying assets on TradingView. With a single click, you can execute many orders as a basket order and earn margin benefits on multi-legged options strategies.
All these baskets are synchronized with every Dhan platform across devices. You can use the pledge margin benefit when engaging in options. Dhan also allows you to place Open Interest as a technical indicator and explore the historical trail of Open Interest for all options and futures contracts. You can go beyond Open Interest and use technical indicators like Central Pivot Range, VWAP, and other indicators useful in options trading.
5. Unlimited Indicators and Alerts
You can save multiple indicators, templates, and layouts on Dhan using TradingView integration. There is no limitation on the number of indicators you can use on a chart. And you can open up to 8 screens simultaneously. Each screen can have a different chart at a different time frame.
You can also create alerts or use Pine Script to generate customized signals or TradingView to get alerts and execute orders instantly whenever the set condition is achieved.
Dhan is the only trading platform India that offers TradingView integration for free to all its users. You can access innumerable pre-built indicators or create your own, build strategies, and backtest them on TradingView.
You can compare how different securities perform using multiple charts on a single screen and become a part of the TradingView community.
The Dhan+TradingView integration opens up infinite possibilities to create awesome trading
strategies and execute profitable trades using TradingView’s advanced charting tools for free.