💥Major Tradingview Tools & their Uses

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Geometric shapes

1. Triangle Tool

This is a simple drawing tool used to draw triangles on the chart. It is used to determine if a price will continue to move in a required direction or reverse.

This tool can be used to draw a falling wedge pattern, an ascending or descending triangle, and a symmetrical triangle.

2. Curve

This is U shaped tool used to connect a price trend. This tool is mainly used to the cup and handle pattern.

3. Path

This tool is used to highlight a possible trend to move from a particular price to another.

4. Rectangle

This tool is used to find draw out demand and supply zones.

Annotation Tool

5. Text

The text tool is used to write a word or group of words on the chart.

6. Tweet

This tool is used to insert a tweet or message on the chart. It is done by copying & pasting the tweet link on the chart for it to display.

7. Callout

This tool is used to identify a particular area on the chart and give a name or price of information on it.

8. Price note

Used to signal out a particular price on the chart.

9. Price label

Used to indicate a price zone on the chart.

Measurement Tools

10. Trendline

This is a measurement tool in Tradingview that is used to connect highs and lows in an uptrend or downtrend.

11. The Arrow Tool

This tool is used to point out the direction to which price will go either up or down

12. Parallel channel

This tool is used to detect an uptrend or a downtrend by connecting the Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), and Lower Lows (LL).

Prediction & Measurement Tool

13. Long Position

This tool is used to signal out a long trade where the entry price, stop loss, and take profit price is used to calculate the potential risk to return ratio.

14. Short Position

This is a tool that is used to predict a short move where the red box is the risk and the green part is the potential return.

15. Price Range

This is a prediction tool is used to calculate the percentage increase or decrease of a particular coin or currency pair from a particular entry price to an exit price.

16. Date and Price Range

This tool is used to determine the number of days, weeks, month and the percentage increase or decrease it took a coin or currency pair to move from a particular entry price to an exit price.

17. Forecast

This tool is similar to date and price range. It is used to determine if a move in a long or short position from an entry to an exit price is a success or failure.

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