TradingView, the popular technical analysis platform, has introduced two new features that will further enhance the trading experience for its users.
The TradingView social network connects millions of traders around the world, allowing them to share trading ideas, analyses, and strategies. The ability to discuss trading ideas with peers and experts improves decision-making.
TradingView continues to improve its products and add new features. Two new platform tools include:
- Reverse matching of previous contracts;
- Tracking open interest in futures on the Hanoi Stock Exchange (HNX).
According to FNG, managing the transition between continuous futures contracts is considered one of the difficulties in futures trading. Price differences between different contracts can make it difficult to analyze price movements over time. The added back-adjustment feature makes it easy to adjust the prices of previous contracts to account for the effects of rollover and eliminate the gap, providing a more accurate representation of price trends.
Traders wishing to enable this feature should click on the B-ADJ button at the bottom of the chart or access the settings from the "Adjust for Contract Changes" menu.
TradingView offers advanced features for creating and testing trading strategies. An additional component of developing effective strategies is the assessment of market sentiment. Therefore, a new tool in TradingView is the tracking of open interest in HNX futures contracts.
Open interest indicates the number of open and outstanding derivative contracts and provides insight into investor sentiment. To use the tool, select the Open Interest indicator from the "Indicators, Metrics & Strategies" menu.
TradingView makes the trading process more convenient and allows users to combine analysis and trading in one place. The platform's integration with leading brokers allows traders to open and close orders directly from within the TradingView platform.
With the constant addition of new tools developed based on user feedback, TradingView offers more advanced capabilities for creating and testing trading strategies.