I used TrendSpider for the first time over five years ago, and I’m still fascinated by its chart analysis capabilities, especially if it comes to automated candlestick and trading pattern detection. The platform features are industry leading among technical analysis tools.
I’m excited to share my experiences with this innovative trading platform with you.
TrendSpider Review Test Results, Ratings, Pros & Cons
I have liked TrendSpider from its early beginnings, and I’m still a big fan of this software. Especially the charting tools stand out and leave competitors in the dust. The usability is excellent and there are simply too many features to mention all of them. Yet, I like the combination of charting & analysis, along with trading idea generation, strategy development and finally, the trade timing and trade execution.
TrendSpider combines everything an active investor and trader can expect from an award-winning and industry-leading platform.
The only thing to complain about is the new pricing model. TrendSpider added so many features, benefits and data to their platform that it became expensive in the monthly subscriptions. Still, there are great savings possible, for the monthly and especially the annual plan, when you use our promo codes and discount links (30%-50% Off), which makes TrendSpider more affordable again.
My Opinion about TrendSpider
TrendSpider is a great choice for U.S. traders looking for powerful charting tools. If you are a market technician looking for technical analysis capabilities that go far beyond market standards, you are in the right place. TrendSpider spots trends and patterns automatically. You can scan for candlestick patterns, you can backtest market signals with a mouse click (no coding required) and much more.
For sure, the multi-timeframe analysis lets the tool stand out among the competition, and the ability to let trading bots trade strategies on autopilot is an interesting feature too.
I think TrendSpider finds itself somewhere in the middle between ultra-active day traders, who mainly use Trade Ideas, and swing traders with an international focus, who use TradingView.
Pros
- Up to 20 active workspaces open at the same time
- up to 400 simultaneous active trade alerts
- Up to 100 trading bots active simultaneously
- Real-time market data in all subscriptions included
- Real-time futures market data available
- Real-time data for forex and crypto included
- Extensive charting and technical analysis capabilities
- Custom data fees available for subscription
- Data exports supported
Cons
- The trading API triggers additional costs per transmitted order
- High costs if you subscribe without a discount
TrendSpider’s Highlights
Let’s talk about the features that make TrendSpider stand out among competitors. The software is entirely web-based but yet powerful. The included strategy tester, market scanner and custom indicator editor let you apply strategies and find the exact trading setups you are looking for.
In addition, you can test trading ideas with a few mouse clicks, and you’ll see the results quickly. All trading signals are visualized right on the chart, which is pretty cool since you see with your eyes where the entries and exits are and if that meets your expectations.
An additional cool feature is the widget area on the right side of your charts. Here, you can add helpful insights like the latest market news, analyst estimates or insider buying.
One feature of the widget area I like a lot is the seasonality chart for the stock you have plotted on the chart. If you invest for a while, you know that your portfolio undergoes up and down swings, and sometimes you have the feeling that this happens somehow at the same period during a year or at specific events. And this is where you can get confirmation (or the opposite) when using the seasonality widget.
You simply choose the time frame (e.g. monthly) and the date range (e.g. data from 1980-today) and then you see the months that typically outperform and which months are typically not that good for the stock. This way, you can spot if, for example, a specific stock in a sector, or the entire sector has such patterns. With this knowledge, you’ll easily decide when to rebalance a portfolio.
Which TrendSpider Plan Is Right for Me?
Choosing the right plan is an important aspect that you should not underestimate. The good news is the pricing plan is super simple, and you’ll definitely find your right plan.
As of today, there are three pricing tiers available, the Standard, Enhanced and Advanced plan.
The Standard Plan is for beginners who want to make their first steps using TrendSpider. There are only a few things you don’t have in the Standard plan, it is the real-time futures market data and the trading bots. Also, there is no free 1-on-1 training session included. But the good news is, that future data can still be added for a small fee.
I really think that this small plan is the best one to choose if you are a beginner trader or investor who makes the first steps in the investment world. Five active chart windows are just perfect to begin with, and the included real-time market data for U.S. stocks along with data for forex and crypto is more than enough.
With the Enhanced Plan, you go a step further, add the bots, futures data, training sessions, and you’ll have more backtest depth, can open more charts, and so on. So it’s basically an upgrade to the Standard Plan and then a good choice, if you need that much data and features.
The highest plan is the Advanced Plan, and here you get access to everything with the most market data, multi timeframe scanning, data export capabilities, variance testing, smart checklists and unlimited free 1-on-1 training sessions. The chances, that a private investor needs the Advanced Plan are low, but if you need tons of data and features, TrendSpider gets you covered.
TrendSpider Pricing
So what does which plan cost and what are the extra fees?
First, you have to decide if you want to pay month by month, or annually.
| TrendSpider Plan | Stanadard | Enhanced | Advanced |
|---|---|---|---|
| Monthly Payment | $107 | $197 | $447 |
| Annual Payment | $642 ($53.5/month) | $1,182 ($98.5/month) | $2,682 ($223.5/month) |
As you can see, with the annual plan you basically only pay for 6 months and get 12 months subscription. A great deal for traders who want to use TrendSpider for a longer period.
TrendSpider Discounts
The good news is, that you can save even more money by using our affiliate links and special offers to reduce the costs further. Right now, we can offer a 35% discount on the monthly Enhanced and Advanced Plan, as well as an extra 50% off on the annual Enhanced and Advanced Plan (sorry, no extra discounts on the Standard plan right now).
If you pay monthly with our discount, the costs are:
- Enhanced: $128.05 in the first month (instead of $197)
- Advanced: $290.55 in the first month (instead of $447)
If you pay the full year in advance with our discount, the costs for the year are:
- Enhanced: $591 in the first year (instead of $1,182)
- Advanced: $1,341 in the first year (instead of $2,682)
So, overall, with all current discounts considered, the Enhanced annual plan for $591 is the best deal. It comes with nearly all features and reduces the monthly costs to only $49.25. This is awesome.
How TrendSpider Compares
TrendSpider stacks up among competitors when it comes to stock analysis, chart visualizations, extensive backtest of daily market data and continuous innovation as long as your focus is on the U.S. stock market, U.S. futures market, crypto and forex.
However if your main purpose is to analyze global markets, TradingView is the better choice because only TradingView offers worldwide market data.
If you are a day trader and if you are looking for trades from the charts, trade automation, or AI trading signals, Trade Ideas is the best choice.
Finviz on the other hand is an excellent choice if you want to quickly check the markets, and finally, Stock Rover does a great job for value investors with over 650+ financial metrics per company you analyze.
My Experience
I have used TrendSpider for over 5 years now, and I’m still fascinated. I like how the platform developed in the past years, the charts are super clean, the handling is smooth, and everything is easy to understand. The strategy tester is great for quickly check the efficiency of a trading idea, the chart widgets provide great additional insights, and I can open TrendSpider from everywhere with my settings.
TrendSpider Charts and Technical Analysis
A feature that TrendSpider had from its early beginnings is the smart trendline finder. You open the chart and let the system do the work to identify the support and resistance zones on the charts and highlighting works like a charm.
You can also choose between three color themes when using TrendSpider:
The variety of chart types and time frames is stunning and leaves no room for complaints.
The term heatmap is used in a bit different way than with other tools because the heatmap visualizes the strength of a support or resistance zone in the platform.
Click on the widgets navigation on the right, to open additional insights like stock options, seasonality patterns, market news, and more:
Multi Timeframe Analysis (MTF)
A big time frame consists of multiple periods of a smaller time frame, and depending on what you want to trade and how (day trading, swing trading, HFT, investing, etc.), you might want to check what the structure of the smaller time frame looks like. And here, TrendSpider is of a big help.
You can do basically everything as long you go not in too small time frames. For example, if you want to plot a 15-second chart or tick-by-tick chart, nope, then TrendSpider does not do the job. But for everything else, yes, here you go.
Here I have opened 9 charts simultaniously. All with different symbols and time time frames, chart types, etc. You can also open 9 charts for the same symbol and 9 different time frames.
In addition, with the multi timeframe tool, you can plot for example a 5-minute time frame indicator value on the same chart as the 15-minute time frame indicator value.
Here is an example with the ADX indicator values on the lower chart of Alphabet Inc. (GOOG). You can see the indicator values form the smaller (5-minute) and bigger (15-minute) timeframe.
There are so many use cases of multi time frame analysis that it would be too much to cover in this article, but let’s say it this way, the MTF tool is a big help for those who need it and something interesting to explore for beginners.
Automated Candlestick and Chart Pattern Recognition
I remember the times when I checked up the chart manually to find hammer, dojis, trendlines or ABCD patterns. It was always a lot of work and not really easy to do. The human error probability was high and analyzing multiple stocks any day was nearly impossible without assigning a lot of time to it.
Example: Insidebar scan with automated pattern detection and markup on chart:
With TrendSpider, it’s much easier now. The software spots trends automatically and plots the lines in the chart, it detects candlestick types, or patterns like double tops and marks them up on the chart.
And like this would not be great enough yet, they even let you test the patterns in various time frames regarding their profitability in the past and compare the results among the performance of leading indexes like the S&P500. Nice!
TrendSpider Trade Alerts
Depending on what plan you choose, you can set up to 400 trade alerts that are always active and scan if the trade alert criteria were met. Let’s ee you want to see if a specific news of a stock comes out that contains a specific phrase or keyword, boom, here is your alert.
You want to get notified if a fast EMA crosses the slow EMA, and boom, you get your alert. You want to see an alert when the price of a stock reaches a specific level while at the same time the stock market index is in the upper 10% of its daily trading range, boom, here is your alert. The possibilities are nearly endless. You get the point.
Complex Rules to Find The Best Trades
At first, you might think, why do I need trade alerts and filters, and do they really provide a benefit? But let’s counter this question with a question. Let’s say you figured out that based on your trading style and investment philosophy, a specific candlestick pattern, at a specific time during a year, with a specific distance to the next earnings announcement, depending on the distance of price from a trading indicator triggers the most profitable investments.
Do you really want to research that by hand day by day, week by week and month by month? Isn’t it more convenient to define this scan once, and let you get the alert automatically once the criteria are met? Or even go a step further, that the trade gets triggered and sent via the API to your broker? Personally, I would not want a system to automatically trigger a trade when I’m not on the PC, but the alert to my inbox or via screen alert, yes, I like that.
Is TrendSpider Easy to Learn?
That’s not that easy to answer from today’s perspective. When I began using TrendSpider years ago, I found it extremely easy to use it. But it also had fewer functionalities and features. Still, I think everyone who can handle multimedia and YouTube and who is eager to learn and explore a new trading platform, will be ready to use it within a couple of days, or maximum weeks. And the one-on-one session (free in the upper plans) is a big benefit here because you can ask your question to your coach and he’ll answer it immediately. So, the onboarding could not be easier.
If I would start over again now, I’d use a rainy weekend to invest 2 days and explore all features and options, and then go live the next week to see intraday data doing its magic and test things in real time. Overall, I think it’s realistic to be ready to use TrendSpider after about 10-20 hours of extensively using it.
Summary
I’m still impressed with TrendSpider after using it for over five years now. I like it mainly because of the UX and UI when it comes to their chart and the combination with the chart widgets. The analysis I do with it is mainly for swing trading purposes, daily, weekly and monthly chart analysis to spot major trends. I don’t use TrendSpider for day trading because I think that Trade Ideas does a much better job for day traders.
The fact, that all major U.S. exchanges are supported (including stocks, ETFs, crypto, indices, forex and even futures exchanges) makes TrendSpider an excellent choice for U.S. traders or international investors who want to focus on U.S. markets.
All Stock Screener Reviews: Trade Ideas, TrendSpider, TradingView, Finviz, Stock Rover
| TrendSpider Review Rating | |
|---|---|
| Features Overall | ★★★★★ |
| Stock Screener | ★★★✩✩ |
| Charts | ★★★★★ |
| Ease of Use | ★★★★★ |
| Customer Service | ★★★★★ |
| Rating | ★★★★★ |