So I trade in XAUUSD more than currencies but most of the time there’s a difference in TradingView’s chart and the chart in MetaQuotes. This has sometimes caused me to take wrong trades.
Do you have any suggestions on which one is more accurate? Thanks…
Traders rely on visual patterns in stock prices to decide when to buy or sell. Learn to identify these patterns for better trading results.
When it comes to accurate trading, I refer to live interactive charts that provide real-time data and a wide range of technical indicators. Investing.com’s live charting tool is a robust resource that allows me to search for and select thousands of instruments, including stocks, indices, commodities, currencies, ETFs, bonds, and futures. The tool offers multiple chart types, flexible customization options, and dozens of technical indicators and drawing tools. I can compare different instruments on the same chart and view charts in full-screen mode. Additionally, I can save and reload templates for my convenience.
Another valuable resource is DailyFX’s free trading charts for forex, major commodities, and indices. These charts are fully interactive with a full suite of technical indicators. I find these charts particularly useful for tracking low, medium, and high volatility levels throughout the trading day.
TradingView is another platform I rely on, as it provides a supercharged charting experience and a social network for traders and investors. The platform offers a wide range of trading ideas, charts, and insights from other traders, which I find helpful in identifying potential setups and patterns.
When analyzing chart patterns, I refer to resources like Investopedia, which explains how to recognize key price patterns such as double tops and bottoms, gaps, and trendlines. These patterns can signal transitions between rising and falling trends, helping me anticipate future price movements.
Finally, I use StockCharts.com for its advanced financial charts and technical analysis tools. The platform offers a wide range of customizable charting options, from simple candlesticks to advanced technical visualizations. I can compare symbols over multiple timeframes, choose from dozens of powerful indicators, and tailor my charts to suit my personal trading or investing style.
I rely on a combination of live interactive charts, free trading charts, social trading platforms, educational resources, and advanced charting tools to make informed trading decisions. By using these resources, I can identify key patterns, trends, and volatility levels, helping me navigate the markets more effectively.
Use the MetaTrader charts that your broker has provided for the most accurate trading. These represent the real prices at which your trades will close. While TradingView might be helpful for analysis, you should always check MetaTrader’s key levels before placing a trade.
In essence, all platforms display identical charts from various suppliers, but there are some minor variations. For research, I prefer to use TradingView, and for execution, Mt5.
For my part, XAU I just use Oanda. For me, it has always been clean.