TradingView Introduces Bollinger Bars to its Trading Platform
Popular trading platform TradingView has introduced Bollinger bars on its trading platforms in an effort to enhance customer experience.
About Bollinger Bars
TradingView has partnered with John Bollinger, the inventor of Bollinger Bars, to include these bars into TradingView’s trading platform as a new charting feature. Bollinger bars are similar to candlesticks except with added colour which provides more information regarding price action of a security.
The primary advantage that a Bollinger bar enjoys over other types of candlesticks is that it provides information about the entire range of prices within which a security has traded within a given time period.
While the traditional candlestick lays less emphasis on the price action that occurs outside the opening and closing prices, the new bars gives proper due to this price action. Instead of indicating this price action through thin lines, the bar indicates it by changing the colour of the bar while keeping the size the same.
The bars are used as a complement to the entire Bollinger security analysing system. The entire system will be used by TradingView with the aim of helping traders analyze price charts as conveniently and quickly as possible.
Users will also have the option of choosing between using Bollinger bars or regular candlesticks. This allows traders who are not comfortable with bars to keep using the candlesticks.
Impact on Traders
Better Clarity
The use of Bollinger bars instead of regular candlesticks aims to help traders quickly gain more insight into the price action of a security. By laying proper emphasis on the price range of a security within a certain time period, such bars can help provide more clarity to traders.
Quicker Analysis
The inclusion of Bollinger bars is part of an overall comprehensive analysis system that John Bollinger has designed. The use of this system can help improve the trader’s ability to quickly analyze price action through intuitive symbolization.
About TradingView
TradingView offers a charting platform that helps traders analyze the past price movement of securities. The software is used by more than 90 million traders located around the globe. TradingView holds the distinction of being the most visited trading and investing-related website.
The company was founded in 2011 and has offices in New York City and London.
Summing Up
This announcement is likely to come as welcome news to traders who use TradingView. Many traders prefer to use the Bollinger system which was unavailable on TradingView as of now. This change can help traders improve their trading experience. Further, since traders have the option of using the traditional candlestick, it provides flexibility as well.
