Skip to content
Home » News » TradingView or ThinkorSwim: Choosing the Best for My Multi-Screen Setup

TradingView or ThinkorSwim: Choosing the Best for My Multi-Screen Setup

    Table of Contents

    Quick Facts

    • Scalability: TradingView supports up to 8 screens out of the box, while Thinkorswim (TOS) can handle up to 16 screens with a custom setup.
    • User Interface: TradingView has a more modern and customizable UI, with easy drag-and-drop functionality. TOS has a steeper learning curve, but offers more advanced customization options.
    • Charting Capabilities: Both platforms offer advanced charting features, but TradingView has a slight edge in terms of chart types and customization options.
    • Data Feed: TradingView offers a more comprehensive range of data feeds, including crypto and forex. TOS has a stronger focus on US equities and options.
    • Alerts and Notifications: TradingView has a more robust alert system, with customizable conditions and notifications. TOS alerts are more limited, but still effective.
    • Community Features: TradingView has a large and active community, with millions of users sharing ideas and insights. TOS has a more limited community, but still offers some social features.
    • Pricing: TradingView offers a more competitive pricing structure, with a free plan and lower costs for higher-tier subscriptions. TOS pricing is more complex, with costs dependent on TD Ameritrade brokerage accounts.
    • Broker Integration: TOS is deeply integrated with TD Ameritrade, offering seamless trade execution and account management. TradingView offers broker integration with select partners, but it’s not as comprehensive.
    • System Requirements: TradingView is a cloud-based platform, making it accessible from any device with a web browser. TOS requires a more powerful computer to run smoothly, especially with multiple screens.
    • Customer Support: Both platforms offer 24/7 customer support, but TradingView is known for its more responsive and helpful support team.

    TradingView vs TOS for Multi-Screen Setups: A Personal, Practical Guide

    As an avid trader, I’ve always been on the lookout for the perfect platform to power my multi-screen setup. After months of testing and experimenting, I’ve narrowed down my options to two industry giants: TradingView and Thinkorswim (TOS). In this article, I’ll share my personal, practical experience with both platforms, highlighting their strengths and weaknesses, and ultimately, help you decide which one is best for your multi-screen setup.

    TradingView: The Pros and Cons

    Pros:

    • Customization Galore: TradingView’s platform is incredibly flexible, allowing you to create custom layouts, add widgets, and tailor your experience to your specific needs.
    • Huge Community: With millions of users, TradingView’s community is unparalleled, offering a vast array of user-generated content, including charts, indicators, and trading ideas.
    • Real-Time Data: TradingView’s real-time data feeds are fast and reliable, ensuring you’re always up-to-date with market movements.

    Cons:

    • Performance Issues: With complex layouts and multiple charts, TradingView can become sluggish, especially on lower-end hardware.
    • Limited Broker Integration: While TradingView supports many brokers, it’s not as seamless as TOS, and some users may encounter connectivity issues.

    TOS: The Pros and Cons

    Pros:

    • Seamless Broker Integration: As a proprietary platform, TOS is tightly integrated with TD Ameritrade, offering a seamless trading experience and instant access to your account data.
    • Robust Performance: TOS is built for high-performance trading, handling complex charts and multiple screens with ease.
    • Advanced Analytics: TOS offers an extensive range of advanced analytics and trading tools, including backtesting, options analysis, and more.

    Cons:

    • Limited Customization: While TOS is highly customizable, it’s not as flexible as TradingView, with limited options for layout and design.
    • Cost: TOS is only available to TD Ameritrade customers, which may come with higher trading fees and account minimums.

    Head-to-Head Comparison: TradingView vs TOS

    Feature TradingView TOS
    Chart Types 100+ 100+
    Technical Indicators 50+ 100+
    Backtesting Limited Advanced
    Options Analysis Limited Advanced

    My Personal Experience

    As a trader, I’ve used both TradingView and TOS extensively. While I appreciate TradingView’s customization options and community, I’ve found that TOS’s performance and analytics capabilities are hard to beat. However, for my multi-screen setup, I’ve opted for TradingView due to its flexibility and real-time data feeds.

    Tips for Multi-Screen Setups

    • Use a consistent layout: Keep your charts and widgets organized across all screens to reduce clutter and improve navigation.
    • Prioritize your most-used features: Place your most frequently used indicators, charts, and tools on the most accessible screens.
    • Experiment with different setups: Don’t be afraid to try new layouts and configurations to find what works best for you.

    Frequently Asked Questions:

    General Questions

    Q: What are TradingView and ToS?

    TradingView is a cloud-based social trading platform that provides real-time market data, charts, and analytics. Thinkorswim (ToS) is a professional trading platform provided by TD Ameritrade, offering advanced tools, charts, and analytics for traders.

    Q: What is a multi-screen setup?

    A multi-screen setup refers to using multiple monitors or screens to display multiple charts, data feeds, and other trading information simultaneously, allowing traders to monitor and analyze multiple markets and assets at once.

    Multi-Screen Support

    Q: Does TradingView support multi-screen setups?

    Yes, TradingView fully supports multi-screen setups, allowing you to stretch your charts and layouts across multiple monitors. You can also use their “detached charts” feature to move individual charts to separate screens.

    Q: Does ToS support multi-screen setups?

    ToS also supports multi-screen setups, offering a flexible layout system that allows you to customize your workspace across multiple monitors. You can create multiple windows, charts, and panels and arrange them as needed.

    Layout Customization

    Q: How customizable are TradingView’s layouts for multi-screen setups?

    TradingView’s layout system is highly customizable, allowing you to create complex layouts with multiple charts, indicators, and other widgets across multiple screens. You can also save and load custom layouts for easy switching between different trading scenarios.

    Q: How customizable are ToS’s layouts for multi-screen setups?

    ToS offers a high degree of layout customization, allowing you to create custom workspaces with multiple charts, windows, and panels. While not as flexible as TradingView, ToS’s layout system is still highly configurable and easy to use.

    Charting Capabilities

    Q: Which platform has better charting capabilities for multi-screen setups?

    Both TradingView and ToS offer advanced charting capabilities, but TradingView is particularly well-suited for multi-screen setups due to its cloud-based nature and vast library of indicators and PineScript coding language. ToS also has a powerful charting engine, but it may not be as customizable as TradingView’s.

    Cost and Accessibility

    Q: How much does TradingView cost for multi-screen setups?

    TradingView offers a free plan, as well as several paid plans (Pro, Pro+, and Premium) that cater to different levels of traders. Multi-screen support is available on all plans, with the Pro+ and Premium plans offering additional features and increased data feeds.

    Q: How much does ToS cost for multi-screen setups?

    ToS is free to use for TD Ameritrade account holders, with no additional fees for multi-screen support. However, you will need to meet TD Ameritrade’s account minimums and trading requirements to access ToS.

    Related Posts: