TrendSpider Review

TrendSpider’s technical analysis software takes charting, alerts, and backtesting to a whole new level. It is particularly beneficial for active traders and professional traders who rely on advanced technical analysis tools and automation features. They offer popular analysis tools like Fibonacci retracements, and innovative features like raindrop charts are also available. But is it better suited for an investor or day trader? Is it one of the best charting platforms and stock screeners for retail traders, and are the indicators and data worth it?

In this review, we will breakdown the pros and cons and review TrendSpider from A to Z. You will also get access to exclusive TrendSpider offers like a 50% TrendSpider coupon. Let’s figure out if TrendSpider is the best stock analysis app.

trendspider review

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About TrendSpider

TrendSpider is a proprietary stock analysis software and automated technical analysis program for day trading, swing trading and investing. It aims to help you spotting and exploiting trends faster than the average trader and also to help you track price movements and indicators.

  • TrendSpider was founded in 2016, and its products are innovative and fully customizable. They use smart algorithms to take emotion out of the trading equation.
  • Designed by traders, for traders, TrendSpider serves thousands of registered members.
  • Their offices are located in Chicago, Denver, India, Russia, and Ukraine.
  • Customizable automated Technical Analysis, automatic trendlines, charts, indicators and dynamic price alerts are the core components. Trading education takes place by video and via in-depth blog posts.

TrendSpider makes tremendous progress by developing innovations for traders. Their Raindrop Chart is one of the most innovative functionality they came up with lately. Meanwhile, TrendSpider supports U.S. stocks, forex, and crypto Exchanges. That’s amazing, and on top of that, unique things like

  • Instant backtesting functionality
  • Chart patterns recognition
  • Trendline analysis
  • Multi Timeframe analysis
  • Alphatrends the VWAP can be applied to all charts.

Higher-tier plans include access to insider trading data, enhancing the analytical capabilities for experienced traders.

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 algorithm allows you to complete your drawings and spur ideas you may not have thought of yet.

TrendSpider New Year Offer: 65% Discount

Features

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 algorithm allows you to complete your drawings and spur ideas you may not have thought of yet.

Beautiful Charts

I know so many platforms for technical analysis and fundamental research, but I frequently use TrendSpider to visualize technical analysis-related aspects and always come back to use it again. That’s because TrendSpider charts are really beautiful and you can do so many things.

TrendSpider chart technical analysis

Line charts, bar charts, candlestick charts, Raindrop and Heikin Ashi charts, hundreds of trading indicators, pattern recognition, a heat map, Fibonacci tools, ABCD patterns, performance graphs, earnings estimates, unusual options visualization, and so much more is there to discover and use.

Addtitional features where TrendSpider stands out:

  • Automated Candlestick Pattern Recognition
  • Automated Trendline Detection
  • Automatic Fibonacci Retracements
  • Automatic Dynamic Price Alerts
  • Multi-Timeframe Analysis

With TrendSpider’s tools, the charting platform automates Technical Analysis for traders. It speeds up your research and analysis for stocks and it:

  • Draws trendlines
  • Supports trendline analysis
  • Recognizes candlestick patterns
  • Calculates and draws automated Fibonacci retracements, as well as
  • Detects and highlights over 40 candlestick formations with mathematical precision.

The benefit? You’re able to remove bias and emotion from the trading equation with this automated technical analysis software. A Doji will be a Doji. A breakout will be a breakout. What’s most important, though? Speed.

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.

Multi Symbol View

TrendSpider improves the trading software continuously by releasing new features and functionalities. For example, the Multi Symbol view was the most frequently requested feature and has been available since Summer 2022.

While to previous multi-time-frame feature allowed you to show up to 4 different time frames for one symbol, now users can visualize up to 16 different charts on one page. In addition, each chart can be for a specific symbol, chart type, time frame and trading indicators.

Swing traders, for example, can visualize 16 different stocks with a daily time frame to have an excellent overview of their favorite stocks. Likewise, day traders can use different intraday-time frames and indicators, while sector arbitrage traders can visualize the performance of up to 16 stocks within one sector.

Below you find an example with 9 charts with different symbols, time frames, chart types and indicators:

TrendSpider multi symbol view

Raindrop Charts

Raindrop charts are a new kind of visualization, developed by TrendSpider for traders as an alternative to a classic candlestick pattern to provide an entirely new perspective when looking at a chart.

It can be used for time frame analysis, and it a great alternative to traditional setups like candlestick charts or bar charts with Bollinger Bands. Instead of standard Open, High, Low and Close prices, Trend Spider now also considers the price development and the VWAP.

TrendSpider raindrop charts vs candlesticks

Besides the tendency of the price development during a given period (red candle, green candle, Doji), you now have a volume profile included. The pro? Look at the section “F” above between 11:00 and 11:30. Yes, the candlestick itself tells you a decent story, a strong green candle closing near the high.

The raindrops tell the same story but add information about the volume profile of the period. You can see that the end of the period was characterized by heavy volume. This is a bullish sign and triggers signals in a different way than candlesticks do.

Breakouts, Dynamic Price Alerts, and Bounce Setups

TrendSpider offers automated breakout detection and alerts for all supported markets. So you will know when an asset breaks through resistance.

Breakthrough research is easy to implement, and my advice for a beginner is to use various trading signals and test them with the integrated backtesting module. You can even set up customizable watchlists with a smart alert system. Breakout, price touch, and bounce setup detection are available.

Heatmap

Furthermore, you also receive detailed information through the proprietary heatmap. Here, the program color codes current and historical order book support and resistance levels, and that’s another advantage compared to other tools.

Automated Technical Analysis with TrendSpider

TrendSpider ranks the strength of both long-term and short-term trends. Automatic trendlines are plotted on the chart. There many individual settings available. The feature is easy to use, and dynamic alerts can be used as well.

Multi Timeframe Analysis

This is pretty cool, actually. With multi-timeframe analysis, you can overlay:

  • Trendlines
  • Indicator values and
  • Candlestick Patterns from other time frames.

Basic Chart Analysis

Do you like a specific candlestick pattern? Do you wish to plot trend lines automatically? Do you want to apply basic technical analysis on price charts? With this web-based software, all of this is possible. Now, let’s proceed with the Trend Spider review by looking at the strategy backtesting and customization options.

Market Scanning and Watchlists

TrendSpider’s market scanning is a powerful tool that allows you to find trading opportunities based on your own custom settings. This allows you to scan the market for specific conditions like price movements, indicators and chart patterns so you never miss a trade. The watchlists feature also allows you to create and manage lists of stocks, ETFs and other instruments so you can track and analyze multiple assets at once. With TrendSpider’s scanning and watchlists you can simplify your trading, stay organized and make better decisions.

TrendSpider Options Flow

In early 2022, TrendSpider released the brand new Options Flow feature. The community strongly requested it, and TrendSpider now officially included the real-time Options Flow scanner within the platform. Tracking unusual options flow is now possible since TrendSpider measures.

TrendSpider unusual options scan

It tracks large directional options trades like block trades and options sweeps, which can indicate a massive directional bet from institutional investors. The details include information about the trade size, expiration date, strike price, and conveniently visualize the results within a widget.

The unusual options scatterplot chart visualizes the current options trading behavior in a unique way and makes it easy to spot unusual options trades. This is an ideal way to track unusual options and follow the big money.

TrendSpider Trading Strategies Backtesting

TrendSpider’s backtesting framework is an exciting feature to perform backtests. You can backtest on timeframes from 1-minute and daily to monthly charts. This can be done with confidence in many financial markets and assets.

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#.

TrendSpider trading system performance

You can also backtest your trading strategies at high speed via Trade Ideas without any coding knowledge. Trade Ideas’ backtest engine acts on tick data and is faster than many other tools I know.

Anyway, having a backtesting tool makes TrendSpider even more exciting. It is included in all packages. But the TrendsSpider Standard package includes only ten tests per month! I plan to test this feature more intensively in the next few weeks and will update the review accordingly.

Other TrendSpider Features

  • Enterprise-grade speed and reliability with automated charting features
  • 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 dynamic alerts using email or SMS notifications
  • Highly customizable charts and alters
  • Multi time frame features
  • Technical analysis with trend lines, support and resistance, and technical patterns
  • Quiet hours when you don’t want to be bothered with price alerts

The charting platform also offers sensitivity control for trendline and indicator alerts using dedicated data sets and filters. When moving averages cross or other technical analysis based things are triggered, you can get notified about it with an alert.

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 precisely mirror the pattern you’re trying to spot.

Plans | Costs | Pricing

TrendSpider belongs to the few great analysis tools available and recently adjusted their whole pricing scheme. Before, there was a difference between the markets you subscribe to. Now the pricing options are more simplified and come with a crystal clear pricing structure.

You can choose between monthly and annual subscriptions. The monthly subscription costs $149, the yearly subscription $1,788. The current promotion reduces the monthly price by 13% and the annual price by 50%.

Free Trial | Promo Code

TrendSpider Coupon

For a limited time, you can save up to 50%.

Test TrendSpider for Free

TrendSpider stopped offering a 7-day free trial. I don’t know for how long, but right now, you can’t test TrendSpider for free for seven days.

TrendSpider Checklist

  • Founded: 2016
  • Number of members: 5,000+
  • Company address check: 2028 E. Ben White Blvd. #240-2010 Austin, Texas 78741
  • Test drive: 7-days for all three of its subscription plans
  • Free resources: TrendSpider Trading Blog, TrendSpider YouTube Channel, TrendSpider Twitter Account
  • Coupons and promo codes: Up to 50% Off.

Who is TrendSpider Best For?

TrendSpider’s software is best for traders looking for real time data and alerts within a modern trading tool. Automated charting and technical indicators like exponential averages make it easy to work with it. Dynamic price action alerts are easy to use.

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 skillset in the background. You can also use TrendSpider the traditional way.

As a charting tool where you insert your trendlines and indicators yourself, keep in mind that even fully automated trading of stocks needs a trader sitting in front of the trading computer at any time when an alert comes in. And you should never trade black box strategies. The automated trendline, Fibonacci retracements, and candlestick identification can save you time. Other reviews about TrendSpider are also positive on this, and they are listed on their website.

Conclusion

TrendSpider is a great stock analysis software and charting platform for traders and investors. Their highest plan is surely not for everyone because of the price tag. However, the lower priced tiers are absolutely sufficient fro retail traders, so it’s worth it considering those.

What I like a lot about TrendSpider is that they improve their plantform continiously by adding new features, improving existing features by listening to their customers.

Rating: ★★★★★