A wise man once said that “The best investment is in the tools of one’s own trade.” This could not be truer for a trader that is seeking to ace those trading goals. Charting is a key tool to have in your arsenal and today we’re exploring two well-known options that could be beneficial for your trades.

What is Charting?

In a nutshell, charting can be described as the plotting of the historical behavior of two currencies. Through a chart, it is possible to analyze and evaluate the typical fluctuations, trends, and price movements of a particular pair. This makes charts an indispensable tool that traders and industry professionals turn to regularly in the pursuit of their trading objectives.

So, what’s the best way to delve into charts? There are two platforms that can help you in this area and today we’re looking at them and the features that they offer.

All About TradingView

TradingView is an industry-renowned platform that’s touted as “the fastest way to follow the markets”. Indeed, TradingView enables traders to monitor their preferred assets and view professional charts. However, it doesn’t stop there. TradingView is designed to encompass a community space where traders can see new ideas and learn more about emerging trends together with a global community of fellow traders. The principal advantages of TradingView include:

1. The resources that TradingView places at your fingertips can give you a competitive advantage over other traders. Being able to tap into expert traders’ ideas, see live quotes and advanced charts will help you to zone in and be more efficient in your strategies.
2. The charting capabilities of this platform create an intuitive and user-friendly experience for traders. Benefit from top-end indicators such as multi-timeframe analysis, the Auto Fibonacci Retracement indicator, custom indicator templates, and candlestick pattern recognition.
3. The Pine Script feature enables you to create your own indicators by benefiting from community-backed indicators and a broad range of financial data.

What Is ChartIQ?

ChartIQ is a well-known award-winning winning platform that utilizes HTML5 to create financial charts and data visualization. The principal benefit of this platform is that it enables traders to traders to interact and analyze data in a more user-friendly visual manner. The charts are completely customizable which means that traders can create the charts that they need for their particular needs.

The platform encompasses many important features that can make a trader’s life easier; educational resources, pre and post-trade analytics, a high level of interactivity together with the highly sophisticated charting options mean that traders can benefit from a well-equipped toolbox to support their trades.

There are some key products that stand out within the ChartIQ suite:

1. HTML5 Charting Library Solution

As the first professional HTML5 charting library that is also a technical analysis tool, ChartIQ is an optimal way of seeing data in a visual snapshot.

2. WebTrader for MT4

It can be said that MT4 is the industry-standard trading platform and ChartIQ has created a plug-in that can be connected to MT4 and the convenient one-click trading mode ensures that trades can be done thanks to one simple click.

3. Portals and Widgets

A range of built-in portals and widgets give traders access to real-time news and analysis.

4. Demo Account

ChartIQ offers the possibility to open a demo account which gives you the possibility to learn more about this tool in a risk-free environment.

ChartIQ and TradingView are two powerful tools that can help you sharpen your trading acumen and help you take effective decisions to support your trades. Start exploring the possibilities that the two platforms have to offer and start benefitting from an optimal trading experience.

Intrigued by the dynamic world of trading and all the possibilities that it offers? Then sign up for your Vital Markets account today and let’s start trading.