TradingView vs NinjaTrader - Which Is The Better Charting Platform?

TradingView and NinjaTrader are two of the most popular names in online derivatives trading. Both platforms have been around for over a decade with substantial clientele.

The burning question is, of course, how do the two software packages compare?

What is TradingView?

TradingView is a US-based state-of-the-art charting software and social network brand formed in 2011. It is revered for its supercharged and aesthetic charting functionalities. Over 90 stocks and futures exchanges, 40+ crypto exchanges, and 10+ forex brokers are connected through this platform for demo and live trading.

What is NinjaTrader?

NinjaTrader is an award-winning product of the NinjaTrader Group, a US-based software developer founded in 2003. The company also owns the registered brokerage of the same name.

Hundreds of thousands of clients worldwide use NinjaTrader to trade forex, futures, and equities. It is one of the most well-known names, with unmatched charting functionalities.

Costs and fees

Deciding which is the cheaper of the two is tough. As with any subscription, taking a long-term deal is usually better. Unlike TradingView, you can get a lifetime lease for $1099 with NinjaTrader for its special features.

The volume profile indicators and Depth of Market (DOM) are the most pertinent. Moreover, there are no limits on how many indicators you place on a chart, alerts, etc.

Whereas with TradingView, there is no lifetime lease for these features. While $1099 is a lot of money in one go, it mathematically does work out much cheaper over several years than TradingView.

Therefore, for the serious NinjaTrader user, it might be worthwhile to get the one-time license. While it's more expensive every month than TradingView, it is more affordable over time.

Also, NinjaTrader doesn’t have platform-related costs for advanced charting features, whereas TradingView does. ​​This further makes the former more cost-effective.

Trading automation and back-testing with TradingView vs NinjaTrader

Overall, NinjaTrader is the better option in this regard. TradingView doesn’t offer the ability to build automated trading strategies, unlike NinjaTrader.

NinjaTrader's 'Strategy Analyzer' works with NinjaTrader’s C#-based proprietary programming language, NinjaScript, for backtesting and automated trading strategies.

It is worth noting that the market or bar replay feature, which allows you to replay past market data and visualize it in real time, is free with NinjaTrader. Meanwhile, this is only available on a paid plan with TradingView.

Advantages of TradingView over NinjaTrader

Here are the areas where TradingView beats NinjaTrader:

• Easier learning curve and more intuitive charting: The platform has historically been browser-based, and most people still prefer it this way.
• It is much simpler to get started with TradingView as you can simply head to the website, open a market and start charting. With NinjaTrader, you first need to download a separate application.
• TradingView’s free plan offers enough sophistication to get started. Yet, the ads make the experience less pleasant.
• Broker integration: You can use TradingView with dozens of futures, forex, futures, crypto, and indices brokerages. This contrasts NinjaTrader, which only works with a few of these companies.
• More expansive market selection: Since TradingView is integrated with far more trading platforms, you can access a higher number of instruments in one place.

Advantages of NinjaTrader over TradingView

Here are the areas where NinjaTrader beats TradingView:

• No platform-related costs: NinjaTrader is free, with the most advanced features you’d expect from a top-tier charting platform. For instance, you don’t need to pay extra to have more charts in one layout (whereas you do with TradingView).

• You only pay for special features like volume profile indicator, volumetric bars, and the ‘Enhanced SuperDOM.’
• Long-term cost savings: As discussed in the ‘cost and fees’ section, NinjaTrader is cheaper in the long run if you pay the one-time license fee.
• Human customer support: With TradingView, you only receive customer service through online support tickets. Yet, you have a hotline when using NinjaTrader.
• Automated trading support and better backtesting: With TradingView, you cannot build an automated trading strategy. Plus, you need a paid plan for their market replay option.

Summary

Ultimately, NinjaTrader may be best if you trade futures or stocks. However, it would be highly beneficial to have the DOM feature (since Depth of Market is more applicable for centralized instruments), although expensive.

Yet, if you only trade forex and don’t need any special features, then TradingView is a better option. Overall, TradingView is best if you follow or trade more than one instrument.

This platform is suitable for forex, crypto, futures, indices, and futures traders who aren’t looking for some of NinjaTrader's features. The trade-off is paying indefinitely for no ads, the volume profile indicator, more charts in one layout, more alerts, etc.

This means that TradingView is more expensive. However, most users don’t mind this limitation as this platform is one of the best in its field, with constant upgrades and new functionalities.

Therefore, TradingView appeals to both new and inexperienced traders of multiple markets. Meanwhile, NinjaTrader is more for niche traders who strictly only trade futures and stocks. Furthermore, it’s a better platform for back-testing and building automated strategies.

All in all, it all boils down to what you’re looking for, meaning there can never objectively be a clear winner.