Quick Facts
- Thinkorswim is a professional-grade trading platform, while TradingView is a charting and analysis platform.
- Thinkorswim is owned by TD Ameritrade, while TradingView is an independent company.
- Thinkorswim offers commission-free trading on over 300 ETFs and index funds, while TradingView does not offer trading capabilities.
- Thinkorswim has a more comprehensive set of technical analysis tools, including indicators and drawing tools.
- TradingView has a larger community of users and a more extensive library of user-created indicators and studies.
- Thinkorswim has a more user-friendly interface and is geared towards beginners, while TradingView has a steeper learning curve and is geared towards advanced traders.
- Thinkorswim offers advanced risk management tools, including option strategies and margin trading.
- TradingView offers real-time data from a wider variety of exchanges and markets, including futures and forex.
- Thinkorswim offers a mobile app, but it is less feature-rich than the desktop version, while TradingView has a robust mobile app with many of the same features as the desktop version.
- Thinkorswim is more expensive, with a minimum account balance requirement of $2,000, while TradingView is free for individual users, with paid upgrades for professional and institutional traders.
Thinkorswim vs TradingView Chart Comparison: A Technical Breakdown
As a trader, having the right tools at your disposal is crucial for making informed decisions. Two popular platforms for technical analysis are Thinkorswim and TradingView. In this article, we’ll delve into the world of chart comparison, exploring the features, benefits, and drawbacks of each platform. Whether you’re a seasoned trader or just starting out, this article will provide you with a comprehensive understanding of which platform best suits your needs.
Introduction to Thinkorswim and TradingView
Thinkorswim, developed by TD Ameritrade, is a professional-level trading platform designed for active traders. It offers advanced tools for options trading, futures, and forex. On the other hand, TradingView is a cloud-based platform that provides real-time data and a vast array of technical indicators. Both platforms offer robust charting capabilities, but which one comes out on top?
| Feature | Thinkorswim | TradingView |
|---|---|---|
| Chart Types | 10+ chart types, including candlestick, Renko, and Kagi | 10+ chart types, including candlestick, Renko, and Heikin-Ashi |
| Indicators | 400+ technical indicators and studies | 100+ built-in indicators, with thousands more available through user-created scripts |
| Alert System | Advanced alert system with customizable conditions | Customizable alert system with real-time notifications |
| Community | Limited community features, but integrates with TD Ameritrade’s network | Large community with chat rooms, forums, and user-created content |
Technical Analysis on Thinkorswim and TradingView
Both platforms offer a wide range of technical analysis tools, but they differ in their approach. Thinkorswim’s technical analysis tools are more geared towards advanced traders, with features like:
On the other hand, TradingView’s technical analysis tools are more accessible to traders of all levels, with features like:
Top 5 Technical Indicators on Thinkorswim and TradingView
Here are the top 5 technical indicators available on both platforms:
- Moving Averages: A popular indicator for trend identification and analysis.
- Relative Strength Index (RSI): A momentum indicator for measuring overbought and oversold conditions.
- Bollinger Bands: A volatility indicator for identifying trends and potential breakouts.
- Stochastic Oscillator: A momentum indicator for identifying overbought and oversold conditions.
- : A comprehensive indicator for trend identification and analysis.
Chart Customization on Thinkorswim and TradingView
Chart customization is an essential aspect of technical analysis. Both platforms offer a range of customization options, but they differ in their approach. Thinkorswim’s chart customization options are more geared towards advanced traders, with features like:
On the other hand, TradingView’s chart customization options are more accessible to traders of all levels, with features like:
Top 3 Chart Customization Features on Thinkorswim and TradingView
Here are the top 3 chart customization features available on both platforms:
- Customizable Chart Layouts: Create custom chart layouts to suit your trading style.
- Advanced Color Schemes: Customize color schemes to enhance visual analysis.
- Integrated Strategy Desk: Backtest and simulate trades with integrated strategy desks.
Frequently Asked Questions:
| Thinkorswim (Bloomberg) | TradingView Chart | Description | Key Differences | User Interface |
|---|---|---|---|---|
|
Technical Analysis: In-depth technical analysis features, including advanced indicators and chart types. Charts and Indicators: Multiple chart types, including line charts, bar charts, and candlestick charts, with advanced indicators like Money Flow Index and VIX Volatility Index. Tips and Features: Offers user-friendly navigation, alerts, and indicator libraries, with the ability to customize charts and alerts. |
Customizable Charts: Multiple chart options, including dynamic chart pricing, limited to 3 customizations per chart. Full Screen Charts: Ability to zoom in and out, with support for mouse wheel navigation. Alerts and Notifications: Customizable alerts, personalized trending tools, and integrated watchlist notifications. |
Key Focus: Bloomberg serves as the financial media subsidiary for BNY Mellon and serves BNY Mellon for BNY Mellon’s consumer and investment businesses. Key Users: Financial professionals, institutional investors, and retail traders looking for in-depth insights and technical expertise. |
Compared to Other Charting Platforms: Thinkorswim is for active traders, while TradingView is for advanced traders looking for more customization options. Price: Offered as part of Bloomberg Terminal, and available for standalone access. |
Note that both platforms offer the same set of features, but Look for platform-specific recommendations from the community for feature assistance if desired.
