TC2000 vs. TradingView – Which Platform Should You Use?

TC2000 vs. TradingView

There are numerous wonderful buying and selling platforms that supply each technical and basic inventory evaluation. However not a lot of them pair sturdy evaluation options with excellent visualization instruments. Two high contenders on this class are TC2000 and TradingView.

TC2000 is a self-contained buying and selling system for shares and choices, with order routing by means of Interactive Brokers. The platform provides one of many business’s greatest scanners, extremely versatile charts, and best-in-class reside buying and selling instruments. TradingView provides equally highly effective scanning capabilities and expands protection to the bond, foreign exchange, commodity, and cryptocurrency markets. It’s not a standalone dealer, although, so it’s extra appropriate for charting and producing commerce concepts than actively buying and selling.

Which of those platforms is your best option for you? We’ll examine TC2000 vs. TradingView face to face that will help you resolve.

About TC2000 and TradingView

TC2000, created by Worden Brothers, has been round for greater than 25 years. When it launched within the mid-Nineteen Nineties, it was one of many solely buying and selling platforms that gave merchants entry to interactive charts and superior visualizations. The software program has undergone many adjustments over time and the newest model is v.23.0. TC2000 has been voted the “Greatest Inventory Software program beneath $500” for 27 years in a row by Shares & Commodities Journal.

TradingView launched in 2011 as an online platform designed to convey collectively multi-asset scanning, complete visualizations, and a social community of merchants. The platform has gained traction rapidly because of the truth that a lot of its instruments, together with its social community, are supplied without spending a dime. In actual fact, TradingView charts are built-in into many different buying and selling platforms in lieu of proprietary charting interfaces. TradingView not too long ago introduced that it surpassed greater than 50 million lively month-to-month customers.

TC2000 vs. TradingView: Property and Buying and selling

One of many greatest variations between TC200 and TradingView is in what belongings you need to use them to judge and commerce.

TC2000 solely helps real-time market knowledge for shares, indices, and choices. That stated, you’ll be able to place trades proper out of your charts by means of an integration with the brokerage agency Interactive Brokers. Trades value $1 + $0.005 per share for shares and ETFs and $1 + $0.65 per contract for choices.

TradingView has a wider scope. You’ll be able to view real-time charts and develop screens for shares, bonds, foreign exchange, commodities, indices, and cryptocurrencies. The platform does combine with a couple of completely different brokers for reside buying and selling, however none of them are significantly common – by far the best-known brokerage that TradingView helps is TradeStation.

TC2000 vs. TradingView: Screeners

An enormous draw to each TC2000 and TradingView is the platforms’ screening capabilities. They go about screening in very other ways, however every provides an extremely highly effective and customizable scanning interface.

TC2000’s EasyScan module is comparatively to straightforward to make use of. The inventory screener could be parameterized utilizing any of the platform’s tons of of built-in technical and basic indicators, or you need to use any of your personal customized metrics for scanning. What actually set this instrument aside is you could benchmark the scan outcomes in opposition to a person inventory, an index, or all US shares. Meaning, for instance, that when operating a performance-based scan, you’ll be able to view solely these shares which have outperformed the broader market or an organization in your watchlist. This dramatically cuts down on noise and makes your scans extra actionable.

TradingView doesn’t have the identical benchmarking possibility, however the inventory screener is nonetheless extraordinarily sturdy.  The checklist of parameters is extremely visible, which makes it straightforward to see how adjustments to your circumstances have an effect on your scan outcomes. You even have the power to kind scan outcomes in accordance with any mixture of technical and basic indicators that you simply select. Notably, TradingView has separate scanners for foreign exchange and cryptocurrency buying and selling with parameters which might be extra particular to these belongings.

TC2000 vs. TradingView: Indicators

TC2000 and TradingView are very comparable when it comes to the technical indicators they provide. Each buying and selling software program platforms come stocked with greater than 200 built-in technical research. There are additionally formulaic coding languages constructed into every platform that allow you to create your personal customized indicators.

One other wonderful function that each TC2000 and TradingView share is the power to use indicators on indicators. Each platforms are additionally filled with drawing instruments and allow you to make annotations proper in your charts.

One factor that units TradingView aside on the subject of indicators is the platform’s built-in social community. Merchants are capable of share any indicators and screens that they create on TradingView and all of them can be found without spending a dime. Customized indicators are categorized by asset class and kind to make it simpler to browse your complete catalog of concepts. TradingView additionally has an inventory of ‘Editor’s Picks’ that will help you rapidly discover essentially the most distinctive and reliable crowdsourced indicators.

One other plus for TradingView is that it provides candlestick patterns as indicators. The charting software program will robotically determine greater than 30 widespread candlestick patterns and spotlight them on any value chart. This may be actually helpful for swing buying and selling.

TC2000 vs. TradingView: Backtesting 

One function that TC2000 totally lacks is backtesting. That’s unlucky since this could be a particularly highly effective function for evaluating customized indicators and constructing actionable inventory screens.

TradingView provides a backtesting instrument with entry to as much as 15 years’ price of historic value knowledge. Backtesting is accessible inside the usual charting interface, so you’ll be able to take a look at out a method with out shifting to a different module. 

TC2000 vs. TradingView: Charting and Dwell Buying and selling

TC2000’s greatest benefit over TradingView is in its assist for reside buying and selling from a value chart. Put merely, there are few platforms that may rival TC2000 on this respect. TC2000 allows you to plot your whole present positions on a value chart in addition to create restrict orders from drawn assist and resistance strains. The choices chain for a given inventory is displayed alongside the worth chart by default, and you may arrange single-leg or multi-leg choices orders proper from the charting interface. Even higher, TC2000 will show the revenue/loss goal space for dozens of common choices methods proper in your chart.

TradingView’s charting instruments are good, however they don’t supply reside buying and selling in any respect until you utilize one of many platform’s dealer integrations. Even then, solely the most costly plan comes with second-based chart intervals and the charts don’t assist any of the visible ordering options that TC2000 boasts.

TC2000 vs. TradingView Paper Buying and selling

Each TC2000 and TradingView supply paper buying and selling. It is a good function in each platforms since you’ll be able to take a look at out new methods with out risking actual cash. It feels slightly extra helpful in TC2000, nevertheless, since you’ll be able to change to reside buying and selling at any time with out altering platforms. If you wish to transfer from paper buying and selling to reside buying and selling with TradingView, you’ll possible have to alter platforms to execute trades.

TC2000 vs. TradingView: Pricing Choices

Each TC2000 and TradingView are competitively priced, though which is cheaper comes all the way down to what you want.

TradingView allows you to entry multi-asset charts, crowdsourced indicators, and most screener features without spending a dime with out even requiring you to create an account. Nonetheless, there are strict limits on what number of indicators you’ll be able to apply to a single chart and you may solely have one alert at a time. You’ll be able to unlock a good variety of options with an Important plan for $14.95 per 30 days or $155.40 per 12 months. If you need indicators on indicators, you’ll want a Plus plan for $29.95 per 30 days or $299.40 per 12 months. Second-based intervals are restricted to the Premium plan, which prices $59.95 per 30 days or $599.40 per 12 months.

TC2000 begins at $9.99 per 30 days or $99.84 per 12 months for the Silver plan, which incorporates the options that the majority merchants want. The principle issues lacking from the Silver plan are the EasyScan screener module and the power to attract trendlines and retracements in your charts. The Gold plan, which prices $29.99 per 30 days or $299.88 per 12 months, provides EasyScan and customized formulation. The Platinum plan, which prices $59.99 per 30 days or $599.88 per 12 months, is nice for those who plan to commerce from charts because it features a $300 low cost on commerce commissions.

One factor to notice is that you need to purchase real-time knowledge for TC2000. Actual-time knowledge prices $14.99 per 30 days for US shares and $9.99 per 30 days for US choices.

Which Buying and selling Software program Is Higher?

TC2000 and TradingView every have strengths for various kinds of merchants. We expect TC2000 is the most effective analytical software program for intraday inventory and choices merchants. It provides tick-by-tick value knowledge with each plan and the reside buying and selling options are extraordinarily useful when making fast buying and selling selections. For the worth of the Silver plan, TC2000 is a fairly sturdy worth for inventory merchants who need severe technical and basic evaluation instruments.

TradingView isn’t as appropriate for day buying and selling shares given its restricted dealer integrations and restricted second-based charts. Nonetheless, it’s a wonderful selection for multi-asset merchants and swing merchants who need entry to extremely superior charts and the power to create customized buying and selling methods. The backtesting function inside TradingView is a significant benefit, whereas much less superior merchants can lean on the crowdsourced indicators to develop their very own methods.

TC2000 And TradingView Options

One different to TC2000 and TradingView which may be price contemplating is Thinkorswim. Thinkorswim is free to make use of with a TD Ameritrade brokerage account, which itself comes with commission-free inventory buying and selling.

Thinkorswim helps shares, choices, foreign exchange, indices, and commodities. The reside buying and selling from charts isn’t fairly as adept as what TC2000 provides, however Thinkorswim has a strong backtesting function and allows merchants to create totally customized indicators and scans. The one important disadvantage to Thinkorswim is that it’s extra centered on technical evaluation than basic evaluation and doesn’t embrace a lot monetary knowledge for shares.

Try our TradingView vs Thinkorswim comparability for extra particulars on how these two platforms differ.

Conclusion: TC2000 vs. TradingView

TC2000 and TradingView are each highly effective buying and selling platforms that mix customization, visualization, and proprietary evaluation instruments. Each platforms supply strong asset screeners and the power to create customized buying and selling methods. TC2000 is the higher selection for a lot of day merchants, whereas TradingView provides superior instruments like technique backtesting for medium-term merchants.