TrendSpider Review 2019
And anyone who trades in financial markets knows, speed is everything. TrendSpider is at the forefront.
In this TrendSpider review, we’ll breakdown the pros and cons.
What is TrendSpider?
TrendSpider is a proprietary stock analysis software and automated technical analysis tool.
It aims to help you spotting and exploiting trends faster than the average trader and also to help you track indicator and price movements.
- Trendspider was founded in 2016.
- Heralded for its innovation, TrendSpider products are fully customizable. They use smart algorithms to take emotion out of the trading equation.
- Designed by traders, for traders, TrendSpider serves over 4,000 registered members and over 600 paying customers.
- Their offices are located in Chicago, Denver, India, Russia, and Ukraine.
- Customizable Automated Technical Analysis and dynamic alerts are the core components. Trading education takes place by video and via in-depth blog posts.
TrendSpider already provides features that other tools don't.
Their focus is to help you with Technical Analysis by complementing what you usually do by hand.
The TrendSpider algorithm allows you to complement your drawings and spur ideas you may have not thought of.
To avoid human error, the TrendSpider algorithm makes its decisions using data and facts.
This way, you can use price levels measured quantifiably rather than second guessing and seeing your bias painted on the chart.
Even more significant is the time you save
With TrendSpider’s charting tools, the platform automates Technical Analysis for you.
It speeds up your analysis and:
- draws trendlines,
- calculates and draws Fibonacci retracement levels, as well as
- detects and highlights over 40 candlestick patterns with mathematical precision.
You’re able to remove bias and emotion from the trading equation.
A Doji will be a Doji. A breakout will be a breakout... ...etc.
What’s most important though?
Every trader knows, to profit in the market, you need to be fast.
A second’s delay is the difference between a profitable opportunity and an opportunity missed.
Breakouts, Price Touch and Bounce Setups
With TrendSpider’s automated breakout detection, you’ll know when an asset breaks through resistance.
You can even set up customizable watchlists with Smart Alert Triggers. Breakout, price touch and bounce setup detection is available.
The Heatmap - Level 2 simplified
Furthermore, you also receive detailed information through TrendSpider’s proprietary heatmap.
Here, the program color codes current and historical order book support and resistance levels.
Automated Trendlines with Trendspider
Trendspider ranks the strength of both long-term and short-term trends. Automated trendlines are plotted on the chart. There a many individual settings available.
Multi Time-Frame Analysis
This is a pretty cool feature actually. With TrendSpider multi-timeframe comparisons you can overlay:
- Indicator values and
- Candlestick Patterns from other time frames.
This is a feature that experienced traders will definitely like.
TrendSpider's backtesting framework is an interesting basic feature to perform backtests. You can backtest on time-frames from 1-minute to monthly charts.
Keep in mind that it does only the basics. More advanced backtests are available via NinjaTrader. But in NinjaTrader you have to write code in C#.
Alternatively, you can backtest your trading strategies in high speed via Trade Ideas without any coding knowledge. Their backtest engine acts on tick data and is faster than any other tool I know.
Anyway, having a backtesting tool makes TrendSpider even more exciting. It is included in all pricing packages. But the TrendsSpider Standard package includes only 10 tests per month!
I plan to test this feature more intensively in the next few weeks. I'll keep you posted!
Other Trendspider Features
- Enterprise-grade speed and reliability
- Fully customizable analysis rules that can be tailored to your specific trading style
- Smart and custom watchlists so you never miss a trading opportunity
- Customizable interface themes with different graphics and visual templates
- Sync alerts using email or SMS notifications
- Quiet hours when you don’t want to be bothered with price alerts
The platform also offers sensitivity control for trendline and indicator alerts.
Here, you can select how close an asset price needs to get to a selected indicator before you receive a price alert.
It’s a valuable tool because trendlines often don’t appear as they do in a general sense. While visual patterns are similar, they don’t exactly mirror the pattern you’re trying to spot.
The TrendSpider Advantage
TrendSpider is an advanced technical analysis software that helps achieve trading success. Its made for trading based on technical analysis.
Trendspider is a web-based platform. The advantage is that you can access Trendspider form everywhere.
The disadvantage is that a web-based platform is usually a bit slower compared to software solutions.
Trade Ideas is lightning fast, and I can scan the market for every setup and pattern I like.
They also offer Trade Ideas as an app and as a web-based version. Both are reliable.
Both are fast.
But I prefer the app instead of the web-based version.
That's because the app is faster and milliseconds can make a difference in day trading.
I think Trendspider could do a bit better in terms of speed being an app-based platform.
As we will see in the Trendspider pricing section, the pricing is fair for what you get.
Plans | Costs | Pricing
TrendSpider recently adjusted their whole pricing scheme. Before there was a difference between the markets you subscribe to.
Now the pricing options are more simplified. The structure is crystal clear.
The first diversifier is now the difference between monthly, quarterly and annual subscriptions.
Month by month subscription starts at $39 for TrendSpider Standard. Trendspider Pro costs $59/month and Trendspider Elite $99 per month.
- If you subscribe quarterly then you receive a discount of 11%
- When you subscribe on an annual basis, then you save 32%.
Both compared to the month-by-month subscription. Like many providers, the longer you sign up, the higher the savings.
As you know, I always recommend the month-by-month subscription. At least until you are 100% convinced that you like to use the tool longer term.
The Trendspider Free Trial
This is something that recently changed for the subscribers. In the past, you could sign up to a 7-day trial for $7.
After seven days your free trial ended, and you made your final decision. Now you chose the plan of your choice. And if you do not chancel fast enough, then you pay the full rate.
With the TrendSpider 7-day trial, you have that peace of mind. As well, you can also cancel or renew your subscription any time. At least during the free trial period.
The new free trial systematic also has its advantages.
You’re able to test out the full version of the product to assess its validity under real market conditions. And do so with little out-of-pocket costs in the process.
TrendSpider provides you smart trading tool functionalities at a reasonable price.
And given the 7-day trial – you have a risk free way to find out for yourself.
But you need to make sure, that you cancel your subscription early enough if Trendspider is not for you.
Free Trial | Promo Code
While it’s not entirely free, TrendSpider’s 7-day trial is the next best thing.
You gain full access to the TrendSpider package you have chosen.
There is no promo code or coupon available right now.
The company also provides free technical analysis tips through its TrendSpider Trading Blog.
The team also provides free trading videos on its TrendSpider YouTube Channel. And you can also stay in touch through its official TrendSpider Twitter Account.
- Founded: 2016
- Number of members: 4,000+
- Company address check: 2028 E. Ben White Blvd. #240-2010 Austin, Texas 78741
- Free trial: 7-day trial for $7 for all three of its subscription plans
- Free resources: TrendSpider Trading Blog, TrendSpider YouTube Channel, TrendSpider Twitter Account
- Coupons and promo codes: 32% off the first 12-months of your first TrendSpider subscription plan via annual payment
- Money back guarantee: No
- Price range: $39 (monthly) to $828 (yearly plan)
- Transparency: good
Who is TrendSpider Best For?
TrendSpider’s software is best for any trader that understands the value of real-time data and the need for state of the art trading tools.
You can choose to run the program fully automated and let its algorithms make decisions for you.
You can also customize the settings and give yourself full control while the program enhances your skill set in the background.
You can also use TrendSpider the traditional way. As a charting tool where you insert your trendlines yourself.
Keep in mind that even fully automated trading needs you sitting in front of your trading computer at any time.
And you should never trade black box strategies.
The automated trendline, Fibonacci and candlestick identification can save you time.
TrendSpider Review Summary
Free Resources | Free Trial
Ease of Use
TrendSpider is a valuable product. Trendspider doesn’t make any outlandish promises. The subscription pricing is fair.
- over 40 candlestick patterns,
- automatic breakout alerts,
- automated price gap detection,
- advanced Fibonacci retracement detection,
- as well as more software benefits than we can name.
One real disadvantage I see is that horizontal trendlines are not supported. Day traders love them, and it would improve the platform.
Trial periods speak to authenticity. TrendSpider passes the test.
Make sure to have the time to test the product during the trial period as excessive as possible.
Make the most out of it and do not hesitate to check other trading tools as well before making your final decision.
As always we recommend staying away from annual subscriptions.
If you are convinced that you will use the service for a full year, then it makes sense trying to save the additional buck.
Otherwise, the monthly subscription is the best way to go. Especially for beginners in the trading space.