Informational: Using TradingView ideas to gauge market sentiment
TradingView, being one of the leading charting platforms, boasts a vast and active community of more than 50 million users. One noteworthy feature that many users may be unaware of is the ability to display ideas shared by other users directly on their charts, without the need to navigate to the separate Ideas tab. This feature enhances convenience and streamlines the chart analysis process.
By enabling this feature in the settings, users can choose to display only their own ideas or opt to view all ideas shared by the TradingView community. This functionality provides a seamless integration of community insights and analysis directly within the charting interface, facilitating easier access to diverse perspectives and trading concepts shared by fellow users.
Once this feature is enabled, it provides an additional visual element to the chart by assigning colors to indicate the bias of each individual sharing ideas on a particular symbol. This color-coded information can be valuable in helping you determine your own bias for that specific symbol. By observing the color associated with each user's ideas, you can quickly assess whether the majority of users have a bullish (teal) or bearish (red) bias for that symbol. This can serve as a helpful reference point when forming your own analysis and making trading decisions. Having access to the collective sentiment of the TradingView community through color indicators adds an extra layer of information that can contribute to your overall market perception.
🔶How to enable:
Go to settings > Events > Ideas on chart > All Ideas
After enabling this feature, you will begin to see ideas posted by other users directly on the symbol you are currently viewing. It is important to note that these ideas are specific to the timeframe you are analyzing and the ticker feed you have selected. To maximize the benefit of this feature, it is recommended to visit a popular exchange where ideas are frequently shared by the TradingView community. Additionally, switching to the daily timeframe can provide a broader range of ideas for your analysis. This timeframe often attracts more user-generated ideas, offering a wealth of insights and perspectives to consider. By combining these two suggestions—exploring popular exchanges and utilizing the daily timeframe—you can leverage the full potential of this feature and gain access to a wide range of valuable ideas from other users within the TradingView community.
In addition to the previously mentioned tips, it can be beneficial to hide the chart symbol and adjust the scale of the chart for optimal viewing. By hiding the chart symbol, you can remove any distractions and focus solely on the chart itself, allowing for a clearer analysis of the price action and indicator data.
🔶How to use this data
The aggregation of ideas in this manner provides you with a valuable tool to gauge the sentiment for each specific day. The color-coded system further enhances the clarity of this sentiment analysis. A red color indicates a bearish idea, while teal/blue represents a bullish idea. An orange color indicates a neutral stance from the trader.
By observing the distribution of colors on a given day for a particular symbol, you can gain a clear indication of what users within the TradingView community are thinking about that symbol. For example, if there are six bullish ideas and two bearish ideas, it suggests a strong bullish sentiment among users. Conversely, if there are six bearish ideas and two bullish ideas, it indicates a prevalent bearish sentiment. This aggregated sentiment can serve as an additional factor to consider when forming your own analysis and making trading decisions. It provides insights into the collective view of other traders and helps you understand the prevailing sentiment for a particular symbol on a given day.
And here is how this played out on the candle stick chart
By enabling this feature in the settings, users can choose to display only their own ideas or opt to view all ideas shared by the TradingView community. This functionality provides a seamless integration of community insights and analysis directly within the charting interface, facilitating easier access to diverse perspectives and trading concepts shared by fellow users.
Once this feature is enabled, it provides an additional visual element to the chart by assigning colors to indicate the bias of each individual sharing ideas on a particular symbol. This color-coded information can be valuable in helping you determine your own bias for that specific symbol. By observing the color associated with each user's ideas, you can quickly assess whether the majority of users have a bullish (teal) or bearish (red) bias for that symbol. This can serve as a helpful reference point when forming your own analysis and making trading decisions. Having access to the collective sentiment of the TradingView community through color indicators adds an extra layer of information that can contribute to your overall market perception.
🔶How to enable:
Go to settings > Events > Ideas on chart > All Ideas
After enabling this feature, you will begin to see ideas posted by other users directly on the symbol you are currently viewing. It is important to note that these ideas are specific to the timeframe you are analyzing and the ticker feed you have selected. To maximize the benefit of this feature, it is recommended to visit a popular exchange where ideas are frequently shared by the TradingView community. Additionally, switching to the daily timeframe can provide a broader range of ideas for your analysis. This timeframe often attracts more user-generated ideas, offering a wealth of insights and perspectives to consider. By combining these two suggestions—exploring popular exchanges and utilizing the daily timeframe—you can leverage the full potential of this feature and gain access to a wide range of valuable ideas from other users within the TradingView community.
In addition to the previously mentioned tips, it can be beneficial to hide the chart symbol and adjust the scale of the chart for optimal viewing. By hiding the chart symbol, you can remove any distractions and focus solely on the chart itself, allowing for a clearer analysis of the price action and indicator data.
🔶How to use this data
The aggregation of ideas in this manner provides you with a valuable tool to gauge the sentiment for each specific day. The color-coded system further enhances the clarity of this sentiment analysis. A red color indicates a bearish idea, while teal/blue represents a bullish idea. An orange color indicates a neutral stance from the trader.
By observing the distribution of colors on a given day for a particular symbol, you can gain a clear indication of what users within the TradingView community are thinking about that symbol. For example, if there are six bullish ideas and two bearish ideas, it suggests a strong bullish sentiment among users. Conversely, if there are six bearish ideas and two bullish ideas, it indicates a prevalent bearish sentiment. This aggregated sentiment can serve as an additional factor to consider when forming your own analysis and making trading decisions. It provides insights into the collective view of other traders and helps you understand the prevailing sentiment for a particular symbol on a given day.
And here is how this played out on the candle stick chart
C Nicholas Downie
So this is how you can attempt to solve the issue. Try using different data feeds