9 Best TradingView Alternatives for Backtesting

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4. Paste the copied Forex Tester coupon code in the ‘Coupon Code’ box at the checkout.
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Now let’s compare other platforms similar to TradingView.

 

2. TradingView vs. Trade Ideas

Trade Ideas focuses on specific market needs while TradingView offers tools for both technical and fundamental analysis. This difference shapes how each platform serves its users. Now, let’s dive deeper.

Fundamental Analysis Integration

TradingView has an edge with fundamental screening, which Trade Ideas lacks. This feature is key for traders who use both technical and fundamental analysis to pick stocks. TradingView also offers more comprehensive backtesting tools, making it easier for users to test and refine their strategies using historical data.

Automation and Alerts

Another major difference is in automated technical analysis. TradingView provides this feature, allowing users to set up alerts based on technical triggers automatically. Trade Ideas does not have this, which can be a disadvantage for traders who rely on timely, automated insights.

Data Accessibility

TradingView also leads in providing fundamental data and options data, which are not available on Trade Ideas. This makes TradingView more versatile, especially for users interested in a wider range of financial instruments.

Community and User Engagement

Both platforms are strong in community features, though TradingView’s broader feature set and global reach likely give it a more active community.

Trading Connections and Broker Integration

For trading connections, Trade Ideas works with Interactive Brokers and E*Trade, mainly supporting traders in the US and Canada. In contrast, TradingView connects to over 40 brokers globally and supports trading in stocks, ETFs, futures, forex, and cryptocurrencies.

Technical Tools and Charts

In the realm of charts and analytics, TradingView is superior with 16 chart styles and over 100 technical indicators, compared to the more basic tools provided by Trade Ideas.

Trial Periods and Accessibility

Both offer trial periods, but TradingView’s 30-day free trial is more user-friendly than Trade Ideas’ sign-up notifications for test drives.

Conclusion

In summary, TradingView offers a broader range of features and global access, making it more suitable for traders who need detailed analysis and diverse trading options. Trade Ideas might still appeal to those looking for a focused set of tools and who trade primarily with Interactive Brokers or E*Trade.

 

3. TradingView vs. TC2000

Both TradingView and TC2000 offer tools for technical screening and backtesting. However, TradingView also includes fundamental screening, which TC2000 doesn’t have. This means TradingView users can use both technical data and fundamental insights to make trading decisions.

Automated Alerts and Data

TradingView stands out with its automated technical analysis, letting users set up alerts that automatically notify them based on specific market conditions. TC2000, alternative of TradingView, doesn’t offer this. Plus, TradingView provides fundamental data, unlike TC2000.

Assets and Trading

TradingView supports a wide range of assets like stocks, ETFs, futures, forex, and cryptocurrencies, and it connects with over 40 brokers globally. TC2000 focuses mainly on stocks, ETFs, and options, and only works with its own brokerage.

Charts and Tools

TradingView offers 16 different chart styles and over 100 technical indicators, giving users lots of tools for detailed market analysis. TC2000 also has good tools but is a bit more limited with 7 chart styles and 100+ technical indicators.

Community Interaction

TradingView has a community feature that allows users to share and discuss strategies. TC2000 doesn’t have this option, which can be a drawback for traders who like learning from others.

Trying It Out

Both platforms have a way to try their features before fully committing. TradingView gives a 30-day free trial, while TC2000 offers a 30-day money-back guarantee.

Conclusion

TC2000 is good if you need basic tools and direct brokerage services. But for those looking for more comprehensive features, like fundamental analysis and a broader range of assets, TradingView is a better fit. It’s also great for traders who value being part of a community.

 

4. TradingView vs. MetaStock

Both TradingView and MetaStock offer fairly good technical screening, but they serve different trader needs when we dig deeper into their features.

Data and Analysis Tools

MetaStock provides fundamental data and options data, similar to TradingView. However, TradingView further supports fundamental screening, a feature MetaStock lacks, giving TradingView an edge for those who value a blend of fundamental and technical analysis in their strategy.

Automated Analysis and Backtesting

Both platforms excel in backtesting capabilities, allowing traders to test strategies against historical data. MetaStock does not offer automated technical analysis, which TradingView does. This automation can significantly enhance trading efficiency by allowing users to receive alerts based on set technical conditions./p>

Options Trading and Asset Coverage

MetaStock steps up with its options data, catering well to options traders. However, TradingView offers a broader range of asset classes, including stocks, ETFs, futures, forex, and crypto, making it more versatile for traders interested in a wide spectrum of markets.

Community Engagement and Support

MetaStock lacks a community feature, which TradingView offers, potentially enriching user experience through community-driven insights, discussions, and shared strategies.

Global Accessibility and Broker Integration

TradingView is notable for its global broker integration, supporting over 40 brokers worldwide. MetaStock, while global in its data coverage, does not offer direct trading capabilities, limiting its utility for traders who prefer executing trades directly through their analysis platform.

Advanced Charting and Technical Tools

TradingView provides an extensive array of charting options with 16 styles and over 100 technical indicators, surpassing MetaStock’s 6 styles and 150+ indicators. While MetaStock is strong, TradingView’s variety and depth offer more flexibility in market analysis.

Trial Offers and Pricing Flexibility

Both platforms provide a 30-day trial, but TradingView’s free access to all features during this period may offer a more comprehensive experience compared to MetaStock’s trial, which might have limitations.

Conclusion

MetaStock is a powerful tool for traders and one of the best TradingView alternatives. It focuses on options and detailed technical analysis, but TradingView’s comprehensive features, community engagement, and extensive broker integration make it a superior choice for traders looking for an all-encompassing platform with global access.

 

5. TradingView vs. TrendSpider

TradingView and TrendSpider both provide valuable trading tools, but they have different strengths. TrendSpider is great for automated analysis, while TradingView offers more comprehensive features including fundamental analysis.

Backtesting and Automation

Both platforms provide backtesting capabilities, but TrendSpider also offers automated technical analysis, similar to TradingView. This feature is essential for users who want automated alerts based on technical analysis, making both platforms competitive in this area.

Data Provision

TradingView leads with more comprehensive data offerings. It includes fundamental data, which TrendSpider does not. This makes TradingView preferable for users who need in-depth financial information to guide their trading decisions.

Options and Community

TrendSpider does not provide options data, which is a significant limitation compared to TradingView. Both platforms have community features, but TrendSpider’s lack of options data might be a dealbreaker for users interested in trading options.

Broker Integration and Global Reach

TradingView supports over 40 stock, FX, and crypto brokers globally, while TrendSpider does not offer any trading integration. This global brokerage access makes TradingView much more versatile for traders looking to execute trades directly from the platform.

Analytical Tools

TradingView offers a richer array of analytical tools with 16 chart styles and over 100 technical indicators, compared to TrendSpider’s 6 chart styles and 190+ technical indicators. Although TrendSpider has a high number of technical indicators, the variety and depth of chart styles in TradingView provide a more flexible analysis environment.

Trial Offers and Pricing

Both platforms offer a free trial, with TrendSpider providing a 7-day free trial and TradingView offering a more extensive 30-day free trial. This longer trial period from TradingView may be more appealing as it gives new users more time to explore its extensive features.

Conclusion

In summary, TradingView tends to be a better fit for traders looking for a comprehensive, all-in-one platform with global access and diverse financial instruments. TrendSpider, while strong in technical analysis and automation, falls short in areas like fundamental data, options data, and direct trading capabilities. This comparison points to TradingView as a more suitable choice for traders seeking depth and versatility in their trading tools.

 

6. TradingView vs. Finviz

Finviz is a TradingView competitor known for its simple and fast stock screening. TradingView provides a broader range of trading tools and attracts a worldwide audience. This makes TradingView suitable for a variety of trading activities, while Finviz is mostly used as a screener. This gives TradingView an advantage for those who like to blend technical analysis with fundamental insights.

Data and Automation

TradingView includes automated technical analysis features, which allow users to receive alerts based on pre-set technical events. Finviz does not offer this kind of automation.

Asset Coverage and Trading Integration

TradingView supports a wide array of assets including stocks, ETFs, futures, forex, and cryptocurrencies and is integrated with over 40 global brokers. Finviz focuses mainly on stocks, ETFs, futures, and Forex.

When it comes to charting, TradingView offers a much richer array of options with 16 chart styles and over 100 technical indicators. In contrast, Finviz offers fewer chart styles and about 30 technical indicators, which might suffice for basic analysis but is less comprehensive than TradingView.

Community Features

TradingView has a community platform where traders can share and discuss their strategies and market views. Finviz does not have a community feature, which might be a minus for those who value collaborative environments.

Trial and Pricing

Both platforms offer a form of a trial period. TradingView provides a 30-day free trial, allowing full access to all its features. A TradingView alternative Finviz also offers a 30-day money-back guarantee, which also lets users test its features, but it requires payment upfront.

Conclusion

While Finviz is useful for basic screening and analysis, especially for stock traders, TradingView offers a more comprehensive set of tools and data, better suited for traders who need deep analysis and enjoy engaging with a community. Its broader asset support and integration with global brokers also make it more appealing for active traders.

 

Other TradingView App Alternatives Worth Considering

Now let’s consider three more popular backtesting programs: FXreplay, Stockcharts, and Metatrader. They can be used as an alternative to Trading View, or as a separate program for testing trading strategies.

 

• FX Replay vs TradingView

FX Replay is easy to use and works well for beginners with its simple design and easy-to-find tools. However, according to some of the TrustPilot reviews, it has become slow, which frustrates many users. It also lacks features for advanced traders, like automatic trading strategies and extensive data for in-depth analysis.

Difference between FX Replay and TradingView is that TradingView faster and offers more features, including customizable trading algorithms and detailed statistics. It suits both new and experienced traders. But, advanced features might require a paid subscription. And, just like FX Replay, it lacks some advanced features.

 

• Meta Trader vs TradingView

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are free platforms known for their basic backtesting capabilities. They operate manually and can be slower, which might be acceptable for traders who need offline functionality and are used to more conventional tools.

TradingView offers an interface that many find more user-friendly, with real-time data and enhanced backtesting capabilities. This allows for faster strategy testing. It also features a community where users can share and discuss trading strategies, which adds a collaborative element to the platform.

 

• StockCharts vs TradingView

StockCharts offers a good range of charts and a helpful Charting School, making it great for swing traders and investors who don’t need real-time data. In general, this is one of the best online stock charting platforms like TradingViev. Its main issue is that the charts aren’t dynamic—you can’t zoom in or change indicators without reloading the chart.

This is a problem for day traders who need to act fast.

TradingView provides a more interactive experience with real-time data available for free, which is useful for day traders and others who need quick information. It also has a large community for traders to share tips and strategies.

While some advanced features cost extra, TradingView’s overall ease of use and quick data access make it a better choice for those who need more flexibility than StockCharts offers.

 

Best TradingView Alternative for Equity, Crypto & Forex Market

To sum up, here are the best 9 alternatives:

1. Forex Tester Online (FTO)
2. FX Replay
3. Trade Ideas
4. TC2000
5. MetaStock
6. TrendSpider
7. Finviz
8. Meta Trader
9. StockCharts

Other alternatives include:

• Trendspider
• Robinhood
• Webull
• Quadency
• Coinigy
• сTrader
• Soft4FX
• jForex
• Protrader
• GoCharting
• Koyfin
• Stock Rover

 

How to Select a Suitable Alternative to TradingView

When choosing an alternative to TradingView, several factors should guide your decision:

Costs

Understand the various fees associated with each platform, including subscription charges, spreads, trading commissions, inactivity fees, and deposit/withdrawal costs.

This understanding allows you to make financially sound decisions aligned with your trading strategy.

Value

While many of these platforms offer free versions, they often limit access to advanced tools. To unlock these features, you typically need to subscribe monthly or annually, which can be costly.

Assess the value each service provides and consider how it contributes to your trading profitability.

Customer Support

Effective customer support is more important than it seems, because such tools often have sophisticated features, and you will need clarifications to master them.

Evaluate the availability and responsiveness of customer support before you buy a subscription.

Educational Materials

Evaluate the educational resources offered by TradingView alternatives. Comprehensive learning materials can enhance your trading skills and knowledge, offering long-term value as you progress in your trading.

Usability

The appearance of the interface, ease of site navigation, incorporation of contemporary design elements and features, and accessibility.

 

Final Word

TradingView is a convenient and very popular tool among traders. TradingView has live data, many tools for drawing and analyzing, and a community for sharing ideas. However, experienced traders, as they improve, are looking for TradingView alternatives among more advanced backtesting programs.

Forex Tester Online is one of the best alternatives to TradingView right now, with a variety of tools, multi-chart data synchronization, high-quality tick data, and other important features.

 

FAQ

What is TradingView?

TradingView is a cloud-based platform designed for traders, offering a range of tools such as advanced charting, social networking features, and technical indicators. It supports various financial assets including cryptocurrencies, stocks, ETFs, and forex.

Traders can utilize TradingView for stock screening, chart analysis, and backtesting strategies.

Accessible via both mobile and web interfaces, TradingView allows traders to engage actively in trading activities. It integrates seamlessly with brokerage accounts, enabling integrated trading.

 

Is TradingView good for backtesting?

TradingView offers some tools for conducting backtesting, whether manual or automated. It’s important to note that backtesting is only a component of developing a strategy.

However, TradingView is not a backtesting software, so it lack many important features. It’s better to get professional software designed specifically for backtesting, such as Forex Tester Online (FTO).

 

What is Bar Replay on Tradingview?

Bar Replay enables you to simulate trading on actual charts across different timeframes. This feature not only enhances your familiarity with the platform but also allows you to review thousands of practice trades swiftly.

By fast-forwarding through the data, you can quickly identify intriguing trade setups, significantly accelerating your learning process compared to live trading.

 

What are the steps to backtest a futures trading strategy on TradingView?

The strategy will enter a long position if the supply draw is larger than expected, and a short position if the supply build is greater than expected.

1. Data Collection:

   Choose your data timeframe and type before you start. For short-term strategies using minute charts, a few weeks of data should be enough. For longer-term strategies on daily or weekly charts, aim for several years of data.

2. Strategy Definition:

   Be clear about your strategy rules—define your entry and exit points, risk management, stop-loss levels, and take-profit targets.

3. TradingView Rewind:

   Use the Rewind tool to reset the chart to your starting point.

4. Simulate Trades:

   Move through the chart one bar or candle at a time. When your strategy conditions are met, make note of the potential trade—both the entry and exit points.

5. Compile Results:

   Keep track of your wins and losses to gauge how well your strategy performs.

 

Does TradingView allow for direct trading on its platform?

TradingView itself does not support direct trading but can be integrated with brokerage accounts. This setup lets users trade directly from the TradingView interface with supported brokers.