TradingView vs Amibroker: Which is Better for Algo Trading?

21 Feb. 2025

TradingView vs Amibroker: Which is Better for Algo Trading?

Algorithmic trading provides all traders with simplicity in trading—not complicated strategies and preparations to run them smoothly. TradingView and AmiBroker are the most widely popular grounds for algorithmic trading platforms. Both offer fabulous tools but do not meet the needs of the same type of trader. Tradeview is a web-based platform known for its social trading characteristics, while AmiBroker is stand-alone software designed mainly for the deep analysis of a market event combined with backtesting.

TradingView Overview

It is a cloud-based trading platform powered with advanced charting features and even social trading. It is simply a place for traders to analyze stocks, forex, and cryptocurrency trades while also recording some basic algo trading through Pine Script.

Key Features of TradingView:

Cloud-Based Convenience: TradingView operates completely online at no cost to users by enabling download or installation. The application can be accessed anywhere by traders on any device connected to the internet to see their charts.
Social Trading Community: One major advantage of TradingView is the interactive community for users. They can share insights, strategies, and live trade alerts for collaborative opportunities to learn from other traders.
Well-Powerful Charting Tools: There are many rich features of charting in this platform, with different kinds of technical indicators, drawing tools, and customizable chart styles. In addition to various chart types, such as candlestick lines and OHLC (open, high, low, close), this platform supports different chart types.
Encompassing Market Coverage: TradingView supplies real-time data from the entire world market: shares, forex, cryptocurrencies, commodities, and indices, making it a versatile broker to trade with.
Custom Strategies Available In Pine Script: TradingView provides its built-in scripting language, Pine Script, that allows users to develop their indicators and alerts, as well as trading strategies. Although it is quite beginner-friendly, it comes with fewer advanced capabilities compared to those of Amibroker's scripting.
Subscription Plans Flexibility: TradingView indeed has a free version with limited features, not that it does not offer premium options to traders who want advanced tools, like multi-chart layouts and custom indicators.

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Advantages of TradingView:

Simple and user-friendly for new users.
Real-time data and coverage of international markets.
Social networking makes sharing ideas easy.
Accessible across devices through the cloud.

Disadvantages of TradingView:

Not as capable of developing strategies as AmiBroker.
Pine Script is useful but not the best for complicated code.
Paywall for advanced features.

AmiBroker Overview

Amibroker is a desktop trading solution that is powerful and allows traders to construct complex trading algorithms using AmiBroker Formula Language (AFL). It is used by professional algo traders for back-testing, strategy optimization, and also real-time data analysis.

Key Features of Amibroker:

Backtesting & Strategy Development: Amibroker stands unparalleled in backtesting, with advanced tools for building and testing automated trading strategies. The AFL (Amibroker Formula Language) provides a unique opportunity for traders to create detailed and highly individualistic trading algorithms.
Custom Indicators and Scripting: Although the indicators bundled with Amibroker are plentiful, real potency comes from developing entirely custom technical analysis tools. The AFL is a multi-purpose scripting language that enables the creation of personal indicators and entire trading systems alike.
Data Handling and Analysis: Amibroker is highly efficient when it comes to handling larger datasets. This enables traders to backtest their strategies on very large amounts of historical data. In that respect, Amibroker becomes the preferred tool for traders whose decision-making processes demand highly extensive historical analysis.
Performance and Speed: Amibroker has a reputation for speed and low lateness. It can perform some very complex calculations much faster than many cloud-based platforms. This becomes advantageous for algorithmic and high-frequency traders who require quick processing of large amounts of data.
Coverage of the Market: Amibroker covers multiple asset classes in terms of market coverage but usually requires integration with outside data providers for their real-time market feeds. It lacks any built-in live market data feed like TradingView.
Offline Availability: Amibroker is a desktop application, which means it does not need any Internet connection for most of the major core functionalities with intelligent charting and analysis. Installation and arrangement permit using some of the most critical functions without ever depending on the Internet again.

Advantages of AmiBroker:

Very powerful for backtesting and algorithmic trading.
Highly customizable using AFL scripting.
Can efficiently deal with large data sets.
No subscription costs for standard functionality (except for data feeds).

Disadvantages of AmiBroker:

The steep learning curve, particularly for new users.
Desktop-based, so no cloud access, and mobile support is limited.
No in-built social features such as TradingView's idea-sharing platform.
Data feeds are extra costs and require configuration.

AI BOT Features:

AI BOT-Algo Trading and Copy Trading is a web-based platform.
AI BOT supports multiple brokers.
AI BOT allows cross-broker copy trading.
AI BOT supports algo trading from various trading platforms, e.g., TradingView, MT4/5, Python, Excel, Amibroker, Ninja Trader, etc.
AI BOT supports direct trading in multiple accounts in one click.
AI BOT has basket order and one-click trade features.
AI BOT can place a trade in thousands of accounts in one click with milliseconds of latency.
AI BOT, your trades can be copied even when you are not suitable for part-time traders as well.

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Price

Which platform is better for Algo Trading?

If you are new and want a simple, web-based, and social network-connected platform, TradingView will be a good fit for you.
If you are a professional trader and want high-speed backtesting, deep analysis capabilities, and full control, AmiBroker will be the perfect platform.

Conclusion

TradingView and Amibroker are two good platforms for algo trading. If you want a simple, fast platform, then TradingView will suit you best. But if you want more customization with powerful backtesting, then yes, you should go with Amibroker.