Tue. Oct 26th, 2021

Are you looking for a complete platform for graphic idea generation, detection and marketing? Two of the main services available are TradingView and Trade Ideas. Both platforms are built with advanced self-directed operators in mind and offer a wide range of features that will help you spot business opportunities.

In this guide, we will compare TradingView with trading ideas directly so you can decide which platform is best for you.

About TradingView and trading ideas

TradingView is an online market analysis platform founded in 2011. The platform provided traders with high-strength computing and analysis tools through the cloud, as well as adding a social network to enable traders learn from each other. Ten years after its founding, TradingView has more than 30 million monthly users.

TradingView Vs.  trading ideas: TradingView

Trade Ideas has been the gold standard for advanced scanners in the market since the platform was launched in 2003. It was originally aimed at professional operators and hedge funds and the company’s technology has been licensed by E * TRADE. In recent years, Trade Ideas has made a push to become easier to use to attract non-professional traders to its user base.

TradingView Vs.  Trade Ideas: business ideas

TradingView Vs. Business ideas: compatible brokers and assets

One of the first differences to stand out between TradingView and Trade Ideas is that they are compatible with different brokers. TradingView allows you to trade directly through software with various brokers, including Tradovate, AMP Globa, OANDA, Forex.com and Gemini. Trading ideas only allow you to trade with Interactive Brokers and E * TRADE.

Another difference is in which assets you are allowed to analyze both platforms. TradingView covers stocks, bonds, futures on commodities, currencies and cryptocurrencies, but does not offer any function for options trading. Business ideas only cover stocks and options.

TradingView Vs. business ideas: graphics

An important difference between TradingView and Trade Ideas is the emphasis that both platforms put on the chart. Advanced charts are one of the main selling points of TradingView. In fact, many brokers license TradingView chart software because it is very comprehensive.

With the TradingView platform, you can view up to eight parallel charts each with a custom time period and price data up to one-second intervals. There are hundreds of built-in metrics available, and you can easily create custom studies using TradingView’s built-in Pine script editor or import metrics created by other TradingView users. In addition, TradingView allows you to play the price action to see how the settings are developed.

TradingView Vs.  Trading Ideas: TradingView Charts

Trade Idea graphics are very basic in comparison. It seems that Trade Ideas assumes that traders will have graphics features across their trading platforms and therefore do not devote much real estate ownership or attention to graphics. You’ll find a small selection of popular technical indicators, but there aren’t many customization options.

TradingView Vs. business ideas: scanning and ideas

Where Trade Ideas stands out is in its capabilities for scanning and generating ideas; after all, this is explicitly what the platform is designed to do. The platform includes dozens of built-in screens to help you find settings around specific topics, such as cryptocurrency stocks, cannabis stocks, or SPAC stocks. There are also selection programs conducted by TradingView’s team of internal analysts, which you can customize for free. It is important to note that Trade Ideas allows you to run dozens of selectors simultaneously throughout the trading day and they are automatically updated every few seconds.

TradingView Vs.  Trade Ideas: Scanners of business ideas

Another important advantage for Trade Ideas is the platform’s AI idea generator, Holly. Holly performs overnight simulations for a variety of different trading strategies to find the most likely profitable trades for the next day. Below are the best results with entry and exit prices, so you can only run the transaction as described. Holly’s results can also be incorporated into screens for marketers who want to hone their own ideas.

TradingView Vs.  business ideas: holly performance of business ideas

TradingView researchers are also quite robust, although they are not as complete as what you will find in Trade Ideas. You can filter stocks by hundreds of fundamental and technical metrics, including the most popular technical indicators. Scan results can also be automatically updated every 10 seconds, making the platform more useful for intra-day screening.

TradingView Vs.  business ideas: TradingView scanner

The most interesting feature that TradingView offers for generating ideas is its community feed. Any TradingView user can post a trading idea, which can range from a few sentences to a detailed thesis with annotated technical charts. Of course, these ideas are provided by individual traders, not an AI with millions of simulations, so it’s much harder to trust the trading setups you’ll see on TradingView compared to those identified by Holly.

TradingView Vs.  trading ideas: TradingView ideas

TradingView Vs. Business ideas: prices

TradingView is much cheaper than Trade Ideas, which could help tip the choice between these two platforms for traders on a budget.

TradingView starts at $ 155 a year and the premium premium plan costs $ 599 a year. The main difference between the plans lies in the number of charts you can see simultaneously and the amount of data you can add to your charts.

TradingView Vs.  Trading Ideas: TradingView Prices

Business ideas start at $ 1,068 a year and a Premium plan costs $ 2,268 a year. You will need a Premium subscription to access trade intelligence-enabled business ideas and the background testing features of Trade Ideas strategy.

TradingView Vs.  business ideas: prices of business ideas

Which service is better?

TradingView and Trade Ideas are high quality trading services with a lot to offer. We believe that TradingView is best for traders looking primarily for an advanced charting platform. The software makes it easy to create your own custom technical indicators or import indicators from other users. In addition, strategy backlash testing features are included in all TradingView plans.

Trading Ideas, on the other hand, is best suited for experienced traders who want to find actionable settings in real time throughout the trading day. Business-enabled platform artificial intelligence ideas are incredibly powerful for active marketers, and the fact that you can run dozens of highly customizable screen programmers at once is a big plus. To get the most out of trading ideas, traders should already have an advanced charting platform, or consider using TradingView to fill that gap.

Alternatives to TradingView and trading ideas

One of the competitors of TradingView and Trade Ideas that is worth looking at is Thinkorswim. What is attractive about this platform is that it is completely free, just open a brokerage account with TD Ameritrade.

The Thinkorswim graphical interface is not as easy to use as the TradingView one, but it is just as complete and offers a similar script editor that will allow you to create custom indicators. Thinkorswim also offers you many possibilities to design custom screens using its script editor. However, you won’t find many screens available immediately, as you would with Trade Ideas. You won’t find selected business ideas like the ones you get with Holly either.

Conclusion

TradingView and Trade Ideas are two powerful platforms for day traders. TradingView stands out as one of the leading charting platforms for traders who need more technical analysis capabilities than the offers of their intermediaries. Business Ideas, on the other hand, is best suited for experienced traders who already have graphics features and want to find actionable business configurations throughout the day.

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