Best Trading Chart Software


Yes, it’s a vlog, I don’t have to sit here and be like, so uptight. I can just kinda be myself. But I’m in front of the whiteboard again. I know usually I’m sitting,
doing fireside chats. But with this I wanna kinda
just map out some thoughts here so I wanna be able to write
on something so I can… Sometimes, in my mind, I
think I have things like in a nice bullet point
order, but I really don’t and then I hear myself, I’m
like, no that made sense to me at the time but now, listening back, it didn’t actually make too much sense. But as you saw from the title of this, what chart provider do I use, and really just kind
of who do I recommend. And I’m gonna give three different choices and, you know, you can
kinda go with whomever. But I will definitely
put kind of a, you know, who I would back up, you
know, next to the three that I talk about. So really it’s a question of, I mean, cost and, you know, what you need. And me, personally, who do… Clay, who do I use? I mean, I get this all the time. And I use eSignal. And eSignal is pretty nice, if you’ve seen my live trade videos or the video chart analysis videos I do. I mean yeah, they put out a good product. There’s no doubt about it. There’s a whole ton of functionality. There’s a lot of just… There’s a lot that you can get with it. And I say get with it because what I pay, don’t quote
me on this, it’s ballpark. I’ve been with them for, wow,
almost 11 years now, I guess. So I, you know… But I’ve always paid
just a year at a time, just 12 months, boom, because then you save like 20% or something. But it’s right around $1,800 a year. And back to the whole get with. That is what, for basically,
the very simple package, I don’t think it’s quite
their simplest, maybe middle of the line. But within that, there are
all sorts of, you know, you have little add-ons, and then if you want more
of data from different… So you could have more. And this is like, you
know, just for stocks. I mean, I can’t pull up
a forex chart on eSignal. You know, I can’t pull up a
cryptocurrency chart on eSignal. Now I could get a lot
of that with the add-ons and for more data. But that’s just gonna rack
up the cost that much more. So for me, I… I really can’t think of any
reason to recommend eSignal. Then why do I use it? Well, it meant from a
business perspective. That’s why I use it. And it’s kind of, I’m
just kinda used to it now from a trading perspective too. But even if I did… If I didn’t have a business
and, you know, ClayTrader.com, you know, as business went
away, then I would drop eSignal. I’ll tell you who I
would go to in that case. But because the business does exist, because it makes life a lot
easier in business, I mean, when I do the live webinars
for the ClayTrader University on a weekly basis, it
just makes that, you know, logistically friendly. There’s just a lot of things
from the business that goes on. But the business has
nothing to do with trading. And for you, as a viewer, I’m
assuming you’re focused more on what should I use for trading? So eSignal, yeah, they’re nice,
yeah they offer a lot, but you know, the offer a lot does
usually come with even more and when I’m already
paying, you know, right around $1,800 a year, it’s
just, it’s not worth it. I don’t think they’re that good if you’re just using them for trading. Now another option to use would be ToS which stands for Thinkorswim. And there are several people in the Inner Circle chatroom
community that use them. And these are free but you do need a funded account. Now that doesn’t mean you
have to actually use them but you will need to
put money into account in order to get their charts. And for full disclosure, if
you’re watching this a year from now, maybe this
policy has changed, maybe you have to pay. I mean, who knows, maybe eSignal
has gone way down in price. So I mean, keep in mind, this
is just all general thoughts. But, you know, this has
been pretty consistent over the past several years. But regardless, you do
need a funded account. But if you do that, they are free. And what, you know, several
people do is, they’ll fund in an account and then they’ll
use the charts but, you know, then they’ll use another broker to actually facilitate the
trade, to make the trade. And that is something that you could do. Now for me personally, I mean, maybe. But I’m just not a huge
fan of Thinkorswim charts. I mean, I guess they look okay
but, you know, it’s all… At the end of the day this
is all personal preference. It’s a case-by-case basis. But, I mean, I personally
wouldn’t use Thinkorswim even though they are free. I’m just not a huge fan of
their charts and the way they look and the way they function. And that kinda also brings
me back to, you know… Clay, why are you even using eSignal? You have a broker. My broker’s charts are terrible. So yes, I could have a free source but free isn’t always free. And that’s what I… You know, I’m not gonna say that… And my broker is Lightspeed, but I’m not gonna say
Lightspeed’s charts are as bad as Thinkorswim, ’cause Thinkorswim’s are definitely better than Lightspeed. But my point here is
though, there’s always that kind of give or take. Is it worth paying for
something just to get some charts that you really do like? For me, it definitely is. So that’s why I will not
use ThinkorSwim because me, personally, I’m not saying this
is, you know, the holy grail or what you should be doing,
I’m just giving my thoughts and recommendations, but yeah. Thinkorswim, I will not use. Now, who I would use is TradingView. And, in fact, I actually do use them in some portions of the business. Again, for you, all those you
that follow my video analyses, any sort of penny stocks or whatever, I use TradingView charts. I think they do a great job
with their penny stock charts. So it’s just from that perspective alone, if you trade penny stocks, well then TradingView would be a great source. But I mean, they’re really good for… I should also note, that
when I do my cryptocurrency, so when I do like Bitcoin
and the other cryptos, I’m also using TradingView
because I can’t get cryptos on eSignal unless I cough up
more money but I can just hop over to TradingView and
I can use, you know, for penny stocks and the
cryptocurrencies here. And they do offer free charts. Now there are limited things though because these are going to be… A lot of it is delayed
unless you pay for it. But for me, when you compare cost especially eSignal, the
winner that I would recommend and that I would go with if I didn’t have the business aspect like I explained earlier,
would be TradingView. TradingView is very cost-effective,
they have great charts, they have a lot of functionality
within the site itself especially if you are a paying member. It just opens up a lotta doors. And, you know, like several
people do Thinkorswim in the Inner Circle chatroom,
there’s also a lotta people that pay for TradingView because
again, a lotta good stuff, their charts are very appealing
to the eye, and then when you factor in the cost,
it’s very reasonable and it’s definitely not $1,800 a year. And remember, that’s the price where it’s like discounted ’cause I’m buying it in bulk all at once. So I would encourage you
to check out TradingView, I’ll put a link down below. And full disclosure,
that is an affiliate link so if you hate my guts and you
don’t want me to make a penny at all, then don’t use that
link to get to TradingView. But if you wanna just,
whatever, you know, yeah I’ll throw you, I don’t even
know what the affiliate is, I’ll throw you probably
like three bucks, then yeah, you can click on that link and check out the TradingView there. But that is who I would
personally go with, you know, for the reasons discussed. You know, it’s probably
worth maybe at least checking out Thinkorswim charts, seeing
if you like them or not, because who knows, you
may think they’re great. Maybe they’re very appealing
to your eye and you think you can make it work
and that’s totally cool. But I mean, if that doesn’t work, then you know, just pay
’cause remember free isn’t always free if you’re not jiving so it’s definitely worth paying for. And, you know, TradingView
is who I would pay for. I would not pay for eSignal. And, you know, there are a
couple members that have eSignal and I just kinda cringe, like
why are you paying so much? You don’t need to pay that
much for a chart provider. There’s lots of other good
alternatives out there and TradingView is usually
who I tell these people about. So again I just wanna really reiterate. I only use them because
of the business aspect. That is why. So don’t. And at the end of the day, I mean, just because you pay a lot for… Some people I get the
impression like, oh you know, I’m using this or that and
higher prices so they think it’s like makes them more serious of a trader, fine line there. Now there are instances where if you’re using delayed
data on, you know, some site that’s got bootleg charts,
all right, then you can probably be accused of not
treating trading that serious. But don’t think just because you go and spend a lotta money
on a chart provider, that that somehow all of a sudden is making you that much more serious. No, be smart about it. But in my opinion, smart is,
check out Thinkorswim, see if your eyes jive with that. If it doesn’t, then definitely go to TradingView and you
know, check that out. Hopefully you click on the
link so I can make my $2.50 or whatever that is. That was a joke, people, relax. Do I wanna say anything else? I think that’s it. Like, I love vlogs, I can just… You know, I can do this. I can never do that what what. I can never do that on… See Nate, what do you think,
the camera guy gets to chime in on vlogs.
Well I say you do three of them at a time. Do you have any questions on this topic? No, I don’t. No.
No. Nate uses RobinHood charts and they don’t even have charts.
No, M1 Finance. Oh yeah, he uses M1– They do have charts, they’re
just line charts though. M1 Finance’s charts? Yeah, line charts. Oh, line charts. Nate uses line charts. He uses the one minute line chart for his day trading scalping. That’s a lie, he does not day trade scalp. But I think that is it. So yeah, what do I think? Well, don’t use eSignal. Maybe start off with Thinkorswim. And definitely consider TradingView and if you are going to
pay, go with TradingView.

19 thoughts on “Best Trading Chart Software”

  1. Aw man, I love ToS charts!
    OK, here's my $.01 on this stuff (disclaimer – to anyone reading this – I am an unsuccessful, crappy trader, so aside from the technical things I mention you may want to take the following with a grain of salt)
    I think ToS charts are very appealing to the eye…and the price can't be beaten 😉 HOWEVER, I wouldn't use them as a broker – their shares for shorting is limited, the hotkeys are pretty crappy, and commissions are terrible. I currently use them for charting and 'execute trades' in IB's Trader Workstation. I think the Trader Workstation interface is ugly and their hotkeys kind of suck too.
    Besides the lame hotkey support, my only real issue with ToS for pure charting is that you can't have a low-end video card if you run multiple/simultaneous charts – the interface kind of lags. This is where I commend DAS Trader – I've had it set up with the same exact data and amount of windows and orientation as ToS, and DAS Trader has no problems with speed or the interface – it is as fast and snappy as it should be. The problem with DAS (besides it being ugly), is it's expensive (about $150/month with the Level 2 data). The hotkeys are awesome though! BUT, like Clay said – having nice, expensive software like this does NOT make you a better trader – I'm living proof! Lol!
    Anyway, thanks for the video Clay! I love these kinds of videos because I'm curious about different people's setups…and the more specific the better…especially from a day trading pro like yourself! 😉
    Have a great weekend with itNate!

  2. Nothing against the TradingView charts, but what I find disturbing are some of their policies like "*A TradingView account is not to be deleted or deactivated* […]", which is not only a violation of the recently introduced GDPR rules, but it also means I cannot change my mind at a later point. And yes, I am from Europe.

  3. Great topic! I like Trading View charts better than TOS… However, I prefer TC2000 charts above them both, although it cost me more ~

  4. Could someone please explain a day trade. If I buy 5 stocks and sell it the next day and buy 5 more stocks a hour later is that a day trade? I don't get this PDT rule because of how people explain it. Could someone give me a in Dept example. Thank you very much for your time. (NOOB QUESTION)

  5. I’m trying to get started with all this fancy learning.
    I’m using trading view, and trying to paper trade some of the alerts in the chat room.
    Although I know trading view has that “Depth of market” but (maybe I just don’t know the platform good enough) is there a good level 2? Maybe even a decent one for free, but I’m paper trading options right now.
    Still in the phase of “man clay your videos are so long and I really wanna turn them to 1.25 speed”.
    So baby steps.

  6. Good video. I use tc2000…they're really good and priced very competitively (most people will only need their $45/mth package which includes real time data), and they have some very powerful scanners. Thinkorswim is great as well but i find its not very flexible in terms of different screen layout designs and the leraning curve is quite steep. I've never used esignal but heard good things about them.

  7. Mac user here and I wanted to use TC2000 but I've heard their version for Mac users are outdated. Any recommendations for Mac other than TV?

  8. Hi Clay I've recently signed up with TC2000 charting software but i'm looking for a uk based platform to trade off in GBP rather than dollars could you recommend anybody

  9. Bumped into FIRSTTRADE.com last night. They have dropped all online commissions. Yes 0$ commissions on trades. Anyone have a review of them or are using them?

  10. Agree totally on your perspective with charts. I'd prefer to drive a car that I had to pay for which has a clear new windshield to the road ahead, rather than a car given to me which had cracks and blemishes in the windshield. Free is no good if it's unreliable or you just don't like the layouts, etc. Ultimately your charts are the "windows" to the markets…. if they are hazy and unreliable, FREE will cost you over time. Thanks for the run down, Clay.

  11. Hey Clay, does Trading View come with a broker?
    I use TD Direct Investing here in Canada and half the time im waiting on a review for my trade and most of the time my trades get rejected even with a limit trade.
    Td Bank is cautious of penny stocks but with the wait time to get my trade fired sometimes its too late so i cancel the order.
    These wait times and delays are costing me money so as far as i am feeling TD Direct Trading is a really good investment broker but to trade as a proffesional i doubt it has any efficient use.
    What would you recommend as a broker and trading platform for your neighbour traders up north?

  12. I like your blogs, but have to disagree regarding trading view for live trading. They are pretty for drawing charts but have no api connection to major brokerages for their data feeds. I use Interactive Brokers to trade options and tradingview has been promising to integrate with IB for years and blame their issues on IB. This is ridiculous since there are many other 3rd party vendors connected to IB. I currently have a subscription with tradingview just to check it out, but then they want to charge for live data on top of their subscription price. I am not going pay for duplicate data with them and my brokerage, that gets quite expensive and it is also the principal of the matter. I don't know why they fight this when there are too many other choices available for charting software that links to IB api. I also have TOS, but TD kills me on trading fees.

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