Trendspider Review 2023 – Facts, Costs, & Coupon Code
TrendSpider’s technical analysis software takes charting, alerts and backtesting to a whole new level. 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 for retail traders, and are the indicators and data worth it?
In this TrendSpider review, we will breakdown the pros and cons and review TrendSpider from A to Z. You will also get access to exclusive TrenSpider offers like a 15% TrendSpider coupon and a free trial. Let’s figure out if TrendSpider is one of the best stock screeners and trading software solutions out there.
Transparency: We may get compensated when you click on links in this article.
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.
|✅ Best For||Traders and investors|
|🚀 Features||Charting, technical analysis, stock screener, backtesting|
|💰 Price details||$39-$129/mo|
|👛 Coupons, discounts||Yes|
|🎮 Trial||7-day free trial|
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.
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.
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.
Let’s proceed with addtitional features where TrendSpider stands out:
- Automated Candlestick Pattern Recognition: Candlestick patterns are visualized automatically on the chart, and all important technical indicators are available. Support and resistance lines can be drawn, and automated Fibonacci retracements can be created. The prices for U.S. stocks and ETFs, forex, and cryptos are in real time. Delayed data indices and EOD data for futures are part of the subscription package.
- Automated Trendline Detection: Spotting the right anchors for trendlines usually requires a lot of manual work. TrendSpider automatically takes care of drawing trendlines if you turn the option on. Automatic trendline drawing is more precise than doing it by hand, making this functionality a time saver and more accurate.
- Automatic Fibonacci Retracements: Leonardo Fibonacci’s numbers are popular amongst traders and investors. It happens incredibly often that a pullback goes to the 50% retracement before the trend continues. Plotting retracement lines automatically is another time saver, and the TrendSpider algorithms take care of it automatically.
- Automatic Dynamic Price Alerts: Trend Spider algorithm makes its decisions using data sets and facts trading stocks. This way, you can use price levels measured quantifiably rather than second-guessing and seeing your bias painted on the chart. And this is also true for the dynamic price alerts. You define specific events like technical indicator values, price levels, or even multi-conditional alert variables, and you get notified via email and SMS once your alert got triggered.
- Multi-Timeframe Analysis: Trading the multi timeframe requires expert skills if every time frame is analyzed separately. TrendSpider makes your work a bit easier by plotting indicator values of higher time frames on a lower time frame and vice versa.
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:
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.
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, Price Touch 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.
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 Trendline 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 Time Frame Analysis
This is pretty cool, actually. With multi-timeframe analysis, you can overlay:
- 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.
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.
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 Review: Strategy 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#.
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 TrendSpider 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.
The TrendSpider Advantage
TrendSpider is an advanced technical analysis charting software that helps to achieve trading success with customizable alerts, charts, and multi-timeframe analysis. It is primarily made for analyzing stocks based on technical analysis and with various scan methods.
TrendSpider is a web-based platform, and the advantage is that you can access it from everywhere. The disadvantage is that a web-based platform is usually a bit slower compared to software solutions.
For example, my favorite stock screener is Trade Ideas. Trade Ideas is lightning fast, and I can scan the market for every setup and pattern I like. It’s available as a web-based and locally installed trading software version. Trade Ideas also has an integrated paper trading account. Trades can be executed without any risk.
That’s because the app is faster, and milliseconds for scanner alerts can make a difference for a day trader. While TrendSpider is a perfect choice for swing-traders, Trade Ideas remains the favorite for day trading. What would be a review without a detailed analysis of the costs? As we will see in the subscription section of the TrendSpider review, the costs are fair for what you get.
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 starts at $39 for Premium, Elite $79/month, and Advanced $129 per month. When you subscribe on an annual basis, then you save 16%-15% compared to the monthly plan. In addition, our exclusive coupon code DAY15 reduces the prices by another 15%.
Yearly subscriptions with coupon DAY15:
- $336 for Premium,
- $663 per year for Elite, and
- $989 per year for Advanced.
Now, let’s proceed with the TrendSpider review to look at the coupons and promo codes.
Free Trial | Promo Code
I kindly asked them to provide a TrendSpider coupon for readers of this TrendSpider review. I’m glad that they have agreed to my request. For a limited time, you can click here and use the coupon DAY15 under “payment info” on the order page to save 15% immediately.
Test Trendspider for Free
TrendSpider offers a 7-day trial. I don’t know for how long, but right now, you can test TrendSpider for free for seven days. You can cancel your subscription at any time during the 7-day period.
You’re able to access 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.
Remember that after seven days, you will be charged for the subscription period you have chosen.
- 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
- Similar product reviews: Scanz Review
- Free resources: TrendSpider Trading Blog, TrendSpider YouTube Channel, TrendSpider Twitter Account
- Coupons and promo codes: 16% off the first 12-months of your first TrendSpider subscription plan via annual payment. Plus, by using my TrendSpider coupon, you save an additional 15% off right away.
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 TrendSpider reviews are also positive on this, and they are listed on their website.
TrendSpider Review Summary
TrendSpider is a reliable analysis software and chart platform with innovative features and accurate data. Top functionalities like automated trendlines with market intelligence get implemented at a reasonable price.
That’s great for traders learning curve and the overall trading tool market. The more competitive the landscape receives, the better for a trader and investor. Their integration of market intelligence-based algorithms and machine learning does not go that deep like the market-leading day trading stock screener Trade Ideas.
Also, they currently do not use the unfiltered Nasdaq and NYSE tick-by-tick data. But that’s okay for those looking for a useful analysis platform to analyze and invest in the stock markets. Day traders consider Trade Ideas with integrated trade automation.
- Price charts with over 40 candlestick patterns,
- Dynamic price action alerts,
- Automated price gap detection,
- Advanced Fibonacci retracements detection,
- Watch lists,
- Technical indicators like moving averages.
- Horizontal trendlines were not supported (TrendSpider takes the right path now. You can select it from the sidebar or use Alt+H to start drawing the trendline).
TrendSpider can be described as an automated charting software with innovative features. Highly active day traders may consider a more expensive and faster platform. It doesn’t mean that TrendSpider is slow, but on some occations, it might be beneficial to have a few milliseconds faster data at your fingertips if cents make a difference for your trading profits.
Test It For 7 Days
If you want to get a chance to test TrendSpider, use the trial period offered. To me, the trial periods speak for authenticity and trust. Make sure to have the time to test every feature, data source, and trading system during the trial period as excessive as possible.
The multi factor analysis, machine learning aspects, multiple trendlines, and candlestick pattern recognition make it easy to use TrendSpider as an analysis. A brokerage connection is currently not supported, so you need a brokerage trading platform to execute trades.
The learning curve will be steep once you started. It is easy to use the trendlines, automated charting, and scanning once you used the charting software a couple of times.
The Community and Alternatives
In addition, this software tool helps you to analyze your favorite stocks and ETFs with just a few mouse clicks. Their innovative analysis tool is something users will fall in love with. The community is like the one at Black Box Stocks relatively active, and as a customer, you will appreciate the customer support and guidance.
TrendSpider goes a step further compared to ordinary charting software solutions. A fast backtesting engine, new charting functionalities, multi timeframe analysis, candlestick patterns, and automated alerts are just a few features traders and investors can expect.
How Much Can I Save With the TrendSpider Coupon?
The TrendSpider coupon code DAY15 will save you 15% on your next purchase. The promotion is valid for any TrendSpider products and subscriptions. Below the order form of this smart trading software, you will see the text “have a coupon?” Click on it and type DAY15 to receive the 15% discount.
How Much Does TrendSpider Cost?
TrendSpider is available in three different payment plans. The Premium subscription costs $39/month; Elite – $79/month; Advanced – $129/month. Yearly subscriptions are also available and will save you 16% compared to the monthly plans. By using our TrendSpider promo code DAY15 you will save another 15% on any subscription available.
Is There a TrendSpider Discount?
Use the discount code DAY15 to get a discount of 15% on your next subscription. On top of that, yearly subscribers can reduce the cost another 16%-15% by choosing the yearly plan. By doing this, active traders can gain access for as low as $28.05/month.