What is TradingView
What is TradingView Exactly?
TradingView is not a brokerage but a charting platform that aggregates market data from hundreds of global exchanges. It provides interactive charts, over 100 technical indicators, drawing tools, and a unique scripting language called Pine Script for custom indicators. Traders can also follow and interact with other traders via the platform's social network, sharing analysis and strategies.
How Does TradingView Work for Saudi Arabia Traders?
To start, create a free account on TradingView.com. You can then search for any asset—like EUR/USD, Saudi Aramco (Tadawul), or Bitcoin—and view real-time or historical charts. The platform supports multiple timeframes from 1-second to monthly. For Saudi traders, TradingView includes data from the Saudi Stock Exchange (Tadawul), allowing you to analyze local stocks like Al Rajhi Bank or SABIC. You can also connect your CMA-regulated broker account to TradingView for seamless trading execution.
Why TradingView Matters for Saudi Arabia Traders
Saudi Arabia has a growing community of retail and high-net-worth traders. TradingView's cloud-based nature means no software installation, making it ideal for traders on the go. The platform's social features allow you to learn from top traders globally, and its Pine Script enables custom strategies for Islamic account conditions, such as avoiding interest-based instruments. For example, you can create a script that filters out swap fees, ensuring compliance with Shariah law.
Practical Example Using SAR
Imagine you want to trade USD/SAR (US Dollar vs Saudi Riyal). On TradingView, you add the USD/SAR pair to your watchlist. You apply a 50-day moving average and RSI indicator. The chart shows the pair approaching a key resistance level at 3.75 SAR. Based on the analysis, you set a sell order at 3.75 SAR with a stop loss at 3.76 SAR. If the trade hits your target, you profit 100 pips, which equals 1,000 SAR on a standard lot. TradingView's alerts notify you when price levels are reached, so you don't miss opportunities.