On the Zaif virtual currency exchange, you can now use the Advanced Chart TradingView. This greatly increases the number of functions that can be used, and enables more detailed chart analysis. First of all, let’s go through the basic operation method to see what we can do with this update.


Index

  1. Overview
  2. Basic usage
  3. Summary




1. Overview


1-1. What is the Advanced Chart “TradingView”?

TradingView is a cloud-based next-generation chart application that works comfortably on a web browser, with lots of technical indicators and trading analysis tools. Using these tools can be useful for forecasting price trends on Zaif’s trading chart. This time, we’ll take a look in particular at the basics of how to use it.

1-2. TradingView screen layout

The screen layout for a new chart, with all the setting buttons arranged at the top and to the left of the chart, is as follows.



  1. Select each currency pair
  2. Set the time axis
  3. Set candlestick charts, etc.
  4. Set technical indicators
  5. Draw lines
  6. Draw pitchforks and Fibonacci lines
  7. SNS link
  8. Chart reading function (*only at login)
  9. Chart storage function (*only at login)

*The above is the Chart page screen, and you cannot use the drawing tool or the social media Share button for charts displayed on the Exchange page.


2. Basic usage


2-1. How to display technical indicators on a chart

How to display indicators
To display technical indicators such as moving average lines on a chart, right click on the chart and click “Insert Indicator” from the menu list displayed. It is also possible to display them using “Indicator” at the top of the chart.



When the indicator selection screen opens, enter the name of the technical indicator in the search window and search, or select the one you want from the multiple list display, as shown below.



How to change the settings of technical indicators
You can also change the parameter settings of a technical indcator.
For the displayed indicator, the information is displayed on the left side of the chart. So click the Settings button there, or double click directly on the RSI or other line, to display the technical indicator settings screen.



Multiples of each technical indicator can be stored as templates
TradingView supports many indicators, and they can be templated by setting multiple consensus, contrary, or other indicators. If you use the template function, it is very convenient, because you can save multiple technical indicators and their settings in TradingView and reflect them on a chart at any time.



2-2. Display the functions to date from here

単純移動平均(Moving Average)
ボリンジャーバンド(Bollinger Bands)

Previous Zaif charts were able to display simple moving average lines and Bollinger bands, and these indicators can also be displayed from the indicator screen mentioned above.
To show simple moving average, enter “Moving Average” in the search window, or enter something like “ma”, and options are displayed, so that you can select the one you want. Search for Bollinger Bands in the same way.



2-3. Lots of indicators

Equipped with many excellent analytical tools
To analyze the chart, you need several tools. A trader will select different technical indicators and analytical tools depending on their investment style, but TradingView is equipped with plenty of the tools necessary to meet the demands of many traders. So this time, let’s look at some typical analytical tools that were added recently.

Typical analytical tools
  • MACD
  • Ichimoku Cloud
  • RSI(Relative Strength index)
  • Fibonacci retracement

MACD
MACD stands for “Moving Average Convergence/Divergence Trading Method”, and in Japanese it is called the moving average convergent diffusion method. It is said that by using two moving average lines (the MACD and the signal line obtained by simply moving and averaging it), it is possible to understand the period and timing of the market and to quickly grasp the trade timing. When the MACD and signal line cross, the MACD and zero line cross, or the MACD and signal line change direction, etc., these are used as buy and sell signals.

Ichimoku Cloud
Ichimoku Cloud is a technical analysis method created in Japan by Ichimoku Sanjin (real name, Goichi Hosoda). Because you can see not only vertical price movements but also price movement over time, it is said to be easier to avoid fakeouts than with the moving average line. The leading span functions as a resistance line or a support line, and it is bullish if it is above a cloud, and it is bearish if it is below.

RSI
The acronym RSI (Relative Strength Index), which is called relative power index in Japanese, is an index that expresses the strength of price movements in a certain period by numerical value. RSI moves back and forth between 0% and 100%, and among the so-called oscillator indices, RSI is one of the most popular charts. When it exceeds 70-80, it indicates contrarian selling, and when it breaks below 30-20 it indicates contrarian buying.

Fibonacci retracement
Fibonacci retracement is one of the technical analysis tools that predict the levels of support (support line) and resistance (resistance line) on a chart. The peak and the trough of a swing on a chart or the peak and trough of a single trend are connected with a line, and in general, the values of “23.6%”, “38.2%”, “61.8%” · “38.2%”, and”76.4%”, which represent the Fibonacci ratios, are considered the key values.

An example of another analysis tool
  • Head and Shoulders
  • Parabolic SAR
  • Elliot wave
  • Stochastics
  • Stochastics
    Pivot points
  • Harmonic patterns
  • ABCD pattern
  • Zigzag, etc.

2-4. Drawing a trend line, etc. on a chart with TradingView

Drawings menu
The menu on the left of the chart can be used for drawings such as trend lines, horizontal lines, or Fibonacci.

How to draw a trend line
For a trend line, select “Trend line” on the left of the chart and drag it on top of the chart to draw.



Line settings
Double-clicking on a drawn trend line, etc. will display the Settings pop-up, where you can change the color or thickness on the style tab.
On the Coordinates tab you can enter the price directly and specify the position of the line.
On the Visibility tab, you can select which timeframe chart to display. For example, if you do not want a line drawn on a daily chart to show an hourly chart, you can use the “Hours” checkbox to show or hide it.



Drawing a horizontal line
There are two types on TradingView: horizontal line and horizontal ray. When you draw a normal horizontal line, a horizontal line is drawn that continues across the whole chart on the screen. On the other hand, a horizontal ray is drawn horizontally starting from the clicked position.


2-5. How to delete a line drawn on a chart

If you want to delete a Fibonacci, trend line, etc. drawn on a chart, select the line you want to delete, then click the trash box in the Settings panel that will be displayed.


2-6. Chart analysis results can be saved as they are

You can name and save the chart analysis contents set up on a chart, such as currencies, indicators, drawings using analytical tools, etc. as they are using the “Save Chart Layout” button.
This function is valid only when logged in, and even if you have selected a different currency, using the Load button, you can select the name you specified when saving, and you can call up the previously analyzed content with one click.




2-7. Social media sharing function

With TradingView, you can post your own investment ideas and chart screenshots to social media and share ideas with other traders.
Using the camera icon button on the upper right of the chart screen, you can easily post your own ideas on Twitter. *From a smartphone, it is also possible to tweet from the Trading screen.



3. Summary

In this way, Zaif has become able to support the above-mentioned plentiful technical indicators and various drawing tools, and this has made possible trading analysis that is more detailed than ever. Here, we have explained the basics of how to use TradingView.

Because TradingView is multifunctional, it has many other tools, and we will continue to introduce you to its useful functions.

We look forward to your continued support of the Zaif virtual currency exchange.


 Please visit the exchange from the link below.




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