How To Add Moving Averages in Tradingview
This is how to add moving averages in TradingView (step-by-step)
Step 1: Open TradingView
Firstly, navigate to TradingView's Website. Ensure you're logged in to your account to access all the features and save your settings.
Step 2: Select Your Chart
To open a chart in TradingView, you want to press on products and then on supercharts. Choose the chart to which you want to add the moving average. You can select any financial instrument, be it forex, stocks, or cryptocurrencies.
Step 3: Add the Moving Average
To add a moving average, click on the 'Indicators' icon at the top of your chart. It's the symbol that looks like the image below. In the search box, type "Moving Average." You'll see a list of different moving average types.
TradingView Indicators Tab
Step 4: Choose Your Moving Average Type
You can select either SMA (Simple Moving Average) or EMA (Exponential Moving Average). For beginners, the SMA is a good start as it gives equal weight to all prices in the series. For more responsive moving averages, choose EMA.
Step 5: Customize Your Moving Average
After adding it to your chart, customize it by clicking on the settings icon next to the moving average name on your chart. Here, you can change the period, which affects how the moving average is calculated. You can also adjust the color and thickness for better visibility.
Moving Average Settings
Step 6: Analyze the Moving Average
Once added, use the moving average to analyze the market trend. Remember, the moving average smooths out price data, creating a single flowing line that makes it easier to identify the direction of the trend.
Step 7: Apply Moving Average Trading Strategies
You can use moving averages for various trading strategies. For instance, some traders look for the crossover of two moving averages as a trading signal. However, this is often not a good strategy. In future articles, I will talk about why! :)
Conclusion
Adding moving averages on TradingView is a straightforward process that can significantly enhance your trading analysis. Whether you prefer the SMA for its simplicity or the EMA for its quicker response to price changes, both can be powerful tools in your trading arsenal. Always remember, the best moving average depends on your trading style and the specific market conditions.
