Social and CFD broker eToro has upgraded its charting and technical analysis tools in partnership with TradingView.
eToro introduces advanced charting and analysis tools and adds TradingView its platform
These tools include multi-time frame charting with periodicity from one minute and up, alongside Fibonacci, Gann, and Elliot wave analysis.
The new charting system also contains more than 50 drawing tools and over 100 technical indicators and will be available on PCs and mobile devices.
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Trading from charts to come
In the second phase of eToro’s charting upgrade, TradingView will enable on-chart trading allowing eToro clients to place and execute orders without having to switch to a separate trading screen.
TradingView will also make additional analysis tools available, as well as the ability for users to access charts that they have created historically, rather than having to redraw them from scratch, each time they log in.
Clients will also be able to switch between light and dark themes, to suit the ambient light conditions, when they are using the charting package.
Speaking about the new partnership Dan Moczulski, Managing Director, eToro UK said:
“There are many ways our clients generate trade and investing ideas with eToro, and for those who use technical analysis, we want to keep evolving the quality of tools available to them so they can make better-informed decisions”
He added that:
“TradingView has established itself as the gold standard in charting, and so it seems natural to incorporate its charts directly into our platform”
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Who are TradingView and why is it so popular?
TradingView Inc are a Chicago-based fintech company that focuses on charting and analysis tools. Their services are used by more than 50 million traders and investors worldwide and by some measures TradingView.com is the busiest finance-related website in the world.
TradingView has become so popular because it offers professional-grade charting and analysis tools, in an intuitive and easy-to-use format, across both desktop and mobile devices.
What’s more, traders can create and code their own custom indicators and tools, using the TradingViews’ own language, known as pine script and more than 10 million scripts have been coded by users to date. More recently TradingView has added screeners, heatmaps, calendars and news to its offering.
What other brokers offer TradingView charts?
Brokers who partner with TradingView are able to offer the state-of-the-art charting and analysis tools their clients demand at a far lower cost than developing a system in-house. Whilst TradingView expands its user base through the tie-up.