Synthetic indices have become popular among traders who want access to a 24/7 market that is not influenced by normal economic events. The majority of traders who use TradingView for chart analysis often ask if these synthetic indices are available on TradingView. Learning how to add synthetic indices on TradingView can help you improve your market analysis skills and make better trading decisions when using compatible data sources and brokers. Synthetic indices can be very useful for practicing technical analysis, but only if your broker accepts synthetic indices and if the market data is provided correctly.
Below is a step-by-step guide to help you set up synthetic indices on TradingView and get the most from the platform.
Step 1: Check Whether Your Synthetic Index Is Available
Before you begin, you may be wondering, does TradingView have synthetic indices? Well, the answer depends on your broker and data provider. TradingView does not specifically list every synthetic index on every possible trading platform, but rather depends on whether your broker and/or data provider pushes them to TradingView. If your preferred synthetic index is supported, you can easily locate it using the platform's search feature.
Step 2: Open the Symbol Search
The next step in how to add synthetic indices on TradingView is accessing the symbol search feature. Click on the current chart symbol at the top-left corner of the screen after you have logged into TradingView. It will bring up a search window where you can search through thousands of financial instruments. Just type the exact name of the synthetic index you would like to see in the search bar. If it is available through your connected broker or supported exchange, it will appear in the results.
Step 3: Select the Correct Data Source
Sometimes a synthetic may show under multiple vendors, so make sure you pick the symbol from the broker or platform you want to trade with. The data source of a chart is the foundation of accurate technical analysis. Using the correct data source will help you create charts that represent actual market prices as closely as possible. Syntxwiki offers many educational resources around synthetic trading, including the basics of synthetic indices, trading strategies, and platform guides for traders of all levels.
Step 4: Add the Symbol to Your Chart
After you find the correct instrument, click to add it to your chart. This is the easiest step of how to add synthetic indices on TradingView. By selecting the index, your current chart will immediately be replaced by the new chart. You can now start analyzing price action via TradingView’s advanced charting features. You can tweak the chart to your preferred time frames, add in your indicators, draw trend lines, and set alerts to suit your trading style.
Step 5: Save Your Chart Layout
Once you have added all of your indicators and chosen your preferred settings, create a workspace preset for your future use. With TradingView, you can create multiple presets, so you can easily keep an eye on different synthetic indices without having to set up your chart again from scratch. Moreover, making a chart preset preserves your settings and supports a better and more organized workflow.
Conclusion
Learning how to add synthetic indices on TradingView is a simple task once you know what to look for and how to choose the proper data source. While you are dependent on the supported brokers and their data providers, you can make use of TradingView’s technical analysis charting tools by following the proper steps. By learning how to add synthetic indices on TradingView, you can set up a better analysis environment and feel more at ease when identifying trading opportunities before routing your orders to your available trading platform.
