TrendSpider Review

TrendSpider Logo

TrendSpider is an automated technical analysis trading software that includes an all-in-one toolkit to try and help make investing more efficient by bringing enterprise-grade charting, scanning, backtesting and trade alerts to retail investors. TrendSpider supports data for stocks, ETFs, global currencies (Forex), digital assets (crypto), futures, indices, and more. When it comes to analysis software, it doesn’t really get much better than this. In this TrendSpider Review, we will take a look at the substantial features that it has to offer along with the benefits, prices and more.

About TrendSpider

Founded in 2016, TrendSpider is an American technology company known for providing technical analysis software and a new type of financial chart known as the Raindrop Chart, which allows users to observe the flow of volume and price together in a singular visualization. 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. Today, the platform has evolved into one of the most comprehensive technical analysis software on the market whilst they are contumely evolving and innovating their technologies.

TrendSpider Review
TrendSpider Review

What is TrendSpider?

TrendSpider is an advanced type of charting, technical analysis and trading platform – one built by traders, for traders. It’s a unique set of integrated tools designed to help you find, plan, and time your trades with greater efficiency and precision. It is an intuitive, easy-to-use technical analysis tools and charting software designed to help you quickly make informed trading decisions.

Granted, there are plenty of trading platforms out there which are free and can do their own analysis, such as the vastly popular MetaTrader platform which is readily available through the majority of trading brokers. However, TrendSpider takes things that much further with more innovation and unique analysis tools that you will not find elsewhere.

How does TrendSpider work?

TrendSpider uses algorithms to automatically place and calculate trendlines. Because TrendSpider’s application uses data to place trendlines in place of the more traditional method of manually identifying where the trend line looks about right which can depend on the individual, users may expect TrendSpider’s lines to be more accurate than ones placed manually. However, it still leaves room for interpretation.

TrendSpider was built by traders to automate the most tedious parts of technical analysis. That way, you can find more opportunities, avoid costly mistakes, and improve your trading. It also means that those of you who may not have the years of studying, training and practice required to be a successful trader, can still perform complex and professional standard market analysis at the click of a button.

TrendSpider Features

TrendSpider technical analysis software is geared towards helping you the trader or investor make smarter, more efficient and informed trading decisions based on a plethora of complex yet easy to interpret market analysis. With so many unique and helpful functions implemented within this innovate trading software, lets take a look at some of its key features.

Scanning

Discover a better way to build your watchlist with Market Scanner. Define your own technical conditions, or choose one of more than 20 built-in scans, to automatically scour the market for the best trading opportunities. Find better trade setups, faster with Market Scanner. Instantly generate dynamic watchlists from technical criteria.

TrendSpider Scanning
TrendSpider Scanning

It can take forever to manually scan various markets for trading signals based on a combination of analysis methods. By the time you find a valid signal it may be too late. That’s where the market scan feature of TrendSpider comes in handy, doing all of the leg work for you so that you don’t need to spend countless hours hurting your eyes and straining your back by gazing at the charts all day.

Smart Charts

TrendSpider was built by traders to automate the most tedious parts of technical analysis. That way, you can find more opportunities, avoid costly mistakes, and improve your trading. Level up your technical analysis with Smart Charts. Save time, avoid mistakes and make better trading decisions.

TrendSpider Smart Charts
TrendSpider Smart Charts

There are some other powerful trading platforms out there that also incorporate excellent features like TrendSpider does, but if they aren’t tied to a particular broker or just outright too expensive, they can be overly complex. This analysis software has user-friendly charts and a slick user-interface to make sure it is accessible to traders of all skill and experience levels.

Raindrop Charts®

TrendSpider’s proprietary Raindrop Charts are designed to enhance your edge by combining price action, volume and sentiment into a new, simple and powerful chart visualization. See what other traders can’t with Raindrop Charts®. A new type of price chart that combines price and volume.

The Raindrop Chart is a new type of financial chart that abstracts away arbitrary constructs, such as open and close prices, and focuses on changes in market sentiment. Rather than conveying price changes, Raindrop Charts incorporate volume to validate price movements and provide deeper insights.

TrendSpider Raindrop Charts
TrendSpider Raindrop Charts

Raindrop Charts are a standard feature of the TrendSpider platform. To try them out, you can sign up for a free trial using the link below this TrendSpider Review. You may also download the white paper to learn more about how they work.

Real-time Data

Real-time stock, crypto and forex data, as well as delayed futures and index data is included with TrendSpider plans. Unlike some other analysis platforms, there is no need to pay separately for data feeds. They have an impressive amount of data covering over 61,000 assets over various markets and exchanges.

It’s great to have all of the market data in one place with TrendSpider. This is in comparison to some other trading platforms where the data can be limited or platforms that need users to follow complex procedures in order to download, convert and import data. We don’t always want to spend time messing around with large data files and conversions only to end up with useless data. As a trader, I would much rather spend my time focused on my trading activity.

Options Flow

Track big money options trades with Unusual Options Spot, filter and measure unusual options flow like never before. View and measure large directional options trades that are abnormally large or aggressive as they happen.

TrendSpider Options Flow
TrendSpider Options Flow

Option order flow is basically time and sales for options, similar to the time and sales tape you see for stocks. Obviously, watching flow for all the tickers in the market would be an obscene amount of data, so many services exist that help filter and analyse it. Analysing the order flow reveals intriguing orders with the potential to influence future price action in the underlying asset. Using the flow can help to improve trade consistency by giving users a way to confirm market direction and momentum. It also helps to gauge whether or not to enter or exit a trade position.

Support

Receive free 1-on-1 training and talk to a real person when you need help. The TrendSpider support team is always just a quick chat or call away. They can answer all user general and technical question in a prompt, friendly and accurate manner.

Considering the complexity and overwhelming nature of TrendSpider at first, it is great that they have such a fantastic and responsive support team on hand. That being said, I feel that it is better to have a play around with the platform and do some reading. You may find that with some experimentation, trial and error, you will actually learn quite a lot without needing any support. However, if you get stuck at any point or need help with a finding a solution to a specific problem that you have been trying to solve for a while, it can be reassuring to know that support is readily available as and when need be.

Backtesting

Improve your trading results by improving your strategies using the easy-to-use, chart-based backtesting tool. Create technical buy and sell rules without knowing how to write code. Perfect your trading strategies with 20+ years of historical data. The TrendSpider backtesting tool is extremely impressive and up there with the very best tools for testing trading strategies on historical data.

TrendSpider Backtesting
TrendSpider Backtesting

Whilst this is a great feature for seeing how a particular trading strategy may have performed over historical data, it is by no means a guarantee of how things will be moving forward. Sometimes it can be a bad thing to over optimise a trading system so that it performs perfectly on historical data as it may just be that the strategy has been adjusted to fit around that data. In reality, if there is no sounds entry/exit logic behind the system in question, good historical results can give unrealistic expectations moving forward.

Then we need to consider broker trading condition which can have a significant impact on the results of a trading strategy. Backtesting environments can be unrealistic as they don’t always account for spreads, slippage, available liquidity and commission fees. These are all important factors that can impact results of any strategy, particular a scalping strategy which relies on the ideal broker conditions such as tight spreads and rapid execution speeds. For the best results using any system, I would always look for a brokerage firm that has competitive conditions including low spreads/commissions and reliable order execution at the best available prices.

Signal Alerts

Never miss an opportunity by letting TrendSpider automatically monitor your charts for you. Combine any technical indicator, chart pattern or drawing across multiple timeframes to create powerful alerts without writing a single line of code. Create alerts for any combination of indicators and timeframes.

TrendSpider Signal Alerts
TrendSpider Signal Alerts

This feature I am a particular fan of as it takes a lot of the momentaneous leg work away from trading. There is no need to watch charts all day long as we can go about our other business and wait for a trading signal to arrive according to our own trading strategies. You can even set alerts for multiple strategies on different timeframes and instruments which is great. Although some traders may want the platform to enter and manage the trade for them, I like the fact that you can still check the charts to confirm the signal with your own eyes. This way you can get the benefits of an automated trading system with the manual confirmation of a human. Why pay hundreds or thousands for unreliable trading signals using trading systems that you don’t even have a clue about how they work when you can create your own based on your own trading style!

Insights

Combine technical and fundamental analysis in a seamless way with Asset Insights, a set of tools that provide quick, visual access to non-technical trading right on your charts. Understand the context behind the charts with Asset Insights. Non-technical data made useful for technical traders.

TrendSpider Insights
TrendSpider Insights

Insight is a deep understanding of an asset, particularly regarding its value and the things needed to preserve that value. An asset’s value is complex and is derived from many things, including: the type of asset. the location of the asset.

I have always believed that it is important to combine different forms of market analysis in order to make a more informed decision. I mean, if we traded based on technical analysis alone, how would we know to avoid that major news release that could cause extremely volatile market conditions.

TrendSpider Mobile App

With TrendSpider Mobile App, you can access your watch lists, charts, alerts and more from any Android device or iPhone. TrendSpider Mobile App supports all of TrendSpider’s chart types, including Raindrop Charts, because you shouldn’t have to use inferior charting just because you had to step away for a minute.

TrendSpider Mobile App
TrendSpider Mobile App

What are the advantages of the TrendSpider software?

As you can see from the abundance of excellent features that we have covered above, there are many distinct advantages to the TrendSpider analysis software. When compared to many other market analysis software used by retail and institutional traders alike, it is hard to find something that beats TrendSpider with its many advantages including the following:

  • Automated analysis: Customize and automate the manual technical analysis you would otherwise do by hand – your way, your rules.
  • Quicker analysis: Comprehensive, fully automated technical analysis on any chart, on-demand, in under 60 seconds.
  • Improved accuracy: Analysis powered by algorithms, formulas and math, not tweets, “expert opinions” or “gut feelings.”
  • Reduce mistakes: Remove bias, emotion, social influence, FOMO, and other costly analysis mistakes from your routine.
  • Discover trading signals: Market Scanner makes it easier than ever for you to quickly and accurately find actionable chart patterns.
  • Time trades: Use algorithms to watch your chart setups for you in real-time to make your trade timing more precise.

TrendSpider University

TrendSpider University is a collection of educational resources and services designed to help you become an expert user. They have a great variety of tutorial guides, videos and can even arrange 1-on-1 training. No doubt, the software can be complex at first but I feel that even a beginner could benefit from spending time just trying out the plethora of TrendSpider features whereas the university is great for those who prefer to digest as much information as possible. Even if you become well versed in the TrendSpider software, the guides that they provide can be a great way to learn some new features and functionalities that you may have initially overlooked.

TrendSpider Packages

Firstly, I will point out that TrendSpider do have a 7-day free trial. You can cancel or upgrade at any time. This gives you a chance to try out the TrendSpider software to see if and how it can benefit your daily trading activities. The TrendSpider plans are as follows:

Advanced

  • $109.17 monthly or $1,310 annually
  • 7-day free trial
  • No Hidden Charges
  • 9% Uptime Guarantee
  • 1-on-1 Training Included
  • Phone, E-mail & Chat Support
  • 6 workspaces
  • 250 Alerts
  • Max Results per Scan 250

Elite

  • $72.50 monthly or $870 annually
  • 7-day free trial
  • No Hidden Charges
  • 9% Uptime Guarantee
  • 1-on-1 Training Included
  • Phone, E-mail & Chat Support
  • 4 workspaces
  • 100 Alerts
  • Max Results per Scan 100

Premium

  • $36.67 monthly or $440 annually
  • 7-day free trial
  • No Hidden Charges
  • 9% Uptime Guarantee
  • 1-on-1 Training Included
  • Phone, E-mail & Chat Support
  • 2 workspaces
  • 25 Alerts
  • Max Results per Scan 25

The main differences between the packages are the instruments available, number of alerts, number of workspaces and results of each scan. There are also many other things to consider from each TrendSpider package depending on your individual trading style and needs. You can visit the official website using the link below to see a complete comparison of all features. Users may cancel automated renewal of your TrendSpider account by using the no-hassle online system or by contacting them via e-mail, telephone or live chat. If you do cancel, you can still use TrendSpider for the duration of time that you have already paid for.

TrendSpider Conclusion

TrendSpider is a new type of charting, technical analysis and trading platform – one built by traders, for traders. It’s a unique set of integrated tools designed to help you find, plan, and time your trades with greater efficiency and precision. TrendSpider is more than just charts. It’s a complete toolkit that has everything you need to be a smarter, faster, more efficient technical trader.

Whilst this is a very powerful trading tool that should be in everyone’s trading arsenal, it is not the holy grail. You can get plenty of trading signals and conduct really in-depth market analysis in an instant. However, at the end of the day it is going to come down to you as the individual trader which determines your success. There are many other factors that come into play with trading online including emotions, discipline, planning and money management.

You can have the best trading software in the world, but if you give in to negative emotions such as fear, anger and greed, the performance can end up being bad. The same goes if a trader does not have any plan or direction and ends up taking trades without any particular goals in mind. Then we need to look at the money management being used. Even the best trading signals can give poor results long term if the risk to reward ratio isn’t favourable.

Thus, although TrendSpider is an excellent tool for conducting all types of in-depth market analysis, the success of implementing what it can produce is likely to be highly dependent on the individual user and their own financial goals.

TrendSpider

$36
8

Functionality

8.5/10

Usability

7.0/10

Versatility

8.5/10

Features

  • Automated analysis
  • Custom trading signals
  • Identify trade setups
  • Mobile trading platform
  • Signal alert notifications
  • Backtest strategies
  • Raindrop Charts
  • Real-time Data
  • Options Flow
  • Insights