TradingView is an excellent choice for developing and backtesting strategies due to its user-friendly interface and the powerful scripting language, Pine Script. It is highly regarded for technical analysis and has gained a substantial user base. When considering the transition to paper and live trading, here are some factors to keep in mind:
Broker Integration: TradingView supports a variety of brokers for live trading, but not all brokers are available. Check if your preferred broker is supported on TradingView for direct live trading.
Strategy Performance: Assess how your strategy performs in backtesting on TradingView. If you are satisfied with the results, and the broker integrations meet your needs, it might be worth continuing with TradingView.
Platform Features: Some other platforms might offer features or integrations that are not available on TradingView, such as broader broker support, advanced order types, or specific risk management tools.
Cost Considerations: Trading on TradingView typically requires a subscription for real-time data and broker execution. Ensure the cost fits within your budget, comparing it against other platforms.
Community and Support: TradingView has a robust community and extensive educational resources which can be beneficial, especially if you need support as you navigate paper and live trading.
Ease of Transition: If you decide to switch platforms, consider the learning curve and the time it will take to translate your Pine Script strategy to another platform’s scripting language or framework.
In summary, if TradingView aligns with your needs for broker support and functionality, it might be efficient to continue using it. However, exploring other platforms to ensure they meet all your requirements is also worthwhile, especially if there are desired features or brokers that TradingView doesn’t support.
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