used to - would

[Lenka]

I have heard it is possible to use "would" instead of "used to" - for example in this sentence: I used to go there (when I was small) = I would go there.

Is it true? When do you use would? Do you use it also for expressing the past (about something that happens again and again)?

[Tdol]

It's possible, but only for actions, not states:
When I was young, my parents would take me swimming every week.
When I was young I would live in the Midlands.