TrendSpider In-Depth Review – Is It The Right Trading Tool For You?

TrendSpider was founded by Dan Ushman and Ruslan Lagutin back in 2016. Their mission was to develop a charting platform that helps traders across the globe in building better trading plans. TrendSpider aims also aims at assisting traders in mitigating profit-killing mistakes by making technical analysis better and consistent.  Keep on reading to learn from our TrendSpider review.

The efforts of the founders of TrendSpider bore fruit. The platform has significantly evolved since its inception in 2016. Now, it is one of the leading technical analysis software. This isn’t the end. It is just the beginning as the platform continues to evolve and puts emphasis on innovation. TrendSpider is a unique platform that always tries to help people plan their trading like a pro. So, if you want an innovative, fully customizable automation engine on a platform and desire to get real-time alerts, TrendSpider is your platform. 

Today, we are doing the TrendSpider review. In our TrendSpider review, we are going to cover multiple aspects of this platform. We want to share as much information as possible to help you decide whether TrendSpider is what you are looking for or not. To know all that you need to know about TrendSpider, read our review thoroughly. 

TrendSpider Pros and Cons

TrendSpider Pros

• A multitude of technical analysis tools for automated technical analysis
• Highly customizable charts, multiple timeframe analysis, and alerts
• Extensive video library
• Backtesting tools
• Trader’s Bill of Rights to protect users’ rights
• No extra charges for real-time data feed

TrendSpider Cons

• Relatively different to use for beginners without basic technical analysis knowledge.
• No social trading is available.
• No copy-trading is available.
• Features are still being added and refined as it is relatively a new platform.

Full TrendSpider Review

TrendSpider Trading Platform

TrendSpider trading platform is one of the most unique trading platforms available in the market. It isn’t just a charting platform. It is software loaded with all the technical analysis tools for everything required to become a smarter, faster, and efficient technical analyst. The TrendSpider Trading Platform brings the following advantages for you.

• A complete technical analysis toolkit that significantly enhances your technical analysis skills and makes you a better technical trader.
• A free-of-cost data feed consisting of real-time data about stocks, forex, and cryptocurrencies as well as delayed data about futures and indices. 
• An intuitive and user-friendly trading platform with easy-to-use technical analysis tools and charts to enable you to make quick but informed trading decisions. 
• Free support and one-on-one training from a real person just a call or quick live chat away.

TrendSpider Market Scanner

TrendSpider Market Scanner enables you to build your own watchlist using unique features. You can define your own scan filters or choose from twenty-plus built-in filters to automatically scan the market for the best trading opportunities. The multitude of prebuilt market scanners helps you effortlessly find the stocks of your choice. Some of the prebuilt scanners are;

• MACD Cross
• Ichimoku Cloud
• Blue Raindrop
• RSI Breakout and Breakdown
• Alligator Hustle
• TTM Squeeze Breakout and Breakdown
• Intraday Volume Rush
• Golden Cross or Cross of Death
• And many more.

TrendSpider market scanner offers the following key advantages. 

• Users can quickly search the whole market, using the technical analysis search engine, for any timeframes or any charts that match your requirements. 
• Users can search for profitable trading opportunities in all markets and never miss any opportunity. 
• Traders can keep their watchlist ever fresh and updated with the help of a market scanner.
• Users can also search for their desired stocks using pre-market and post-market hours data.
• Users can utilize any indicator or a combination of indicators to find stocks meeting their technical conditions. 
• Traders can choose any timeframe from 1-minute to 1-month or even use multiple timeframes to find stocks. 
• Users can also run multiple indicators simultaneously. TrendSpider also alerts users when a symbol overlaps in two indicators – a unique and attractive trading opportunity. 

Smart Charts

TrendSpider Smart Charts completely align with the company’s mission. They are the tools that fully automate the most time-consuming and complex part of technical analysis. Smart Charts save a lot of your time and enable you to avoid costly mistakes. These game-changing smart charts are so efficient that you can easily technically analyze any security within a few seconds. Moreover, they are also highly effective for the execution of any strategy. The platform supports the following styles of charts.

• Traditional Price Bars
• Japanese Candlesticks
• Line Charts
• Hollow Candlesticks
• Heiken Ashi
• Raindrop Charts (TrendSpider’s proprietary charts)

TrendSpider Smart Charts definitely level up your technical analysis with the following key advantages. 

• Enable you easily find patterns and trends that are hard to find when using normal charts.
• Bring smartness and efficiency that improve the consistency and reliability of your technical analysis. 
• Ensure identification of trendlines, Fibonacci retracement and extension, and much more.
• Grant access to Smart Charts from wherever you are through a fast and smooth mobile app.

Raindrop Charts – the Proprietary TrendSpider Charts

Raindrop charts are the innovation of TrendSpider that prove how much the company places emphasis on innovation. These are a new type of price chart that combines price action, volume, and market sentiment. Raindrop Charts are simple and new but more powerful than traditional charts with phenomenal visualization.

Raindrop Charts are significantly different from traditional charts. A high, low, left VWAP, and right VWAP combine to construct them rather than having opening and closing prices. If you want to learn more about the Raindrop Charts, you can find a lot of video tutorials on the website. Raindrop Charts offer numerous advantages for traders and investors to make their technical analysis flawless.

• Users can easily see if any volume is there behind a move or not. Thus, they can distinguish between breakouts and fakeouts.
• Users can know about the volume and thus can know the strength of a trend.
• Users can also utilize Raindrop Specific shapes and patterns to identify the most important points. For example, balloon-shaped Raindrops only appear when the volume is extremely strong. 
• Users can also scan markets, backtest any trading strategy, and set up alerts with Raindrop Charts. 
• Users can easily identify periods when the market is confused and isn’t sure about its direction.

TrendSpider Technical Analysis Tools

TrendSpider isn’t just about Smart Charts. The platform also offers some specializes technical analysis tools. A wide array of automated and cloud-based technical analysis tools along with Smart Charts make technical analysis significantly easy. A multitude of indicators, studies, and multiple timeframe analysis tools totally transform the way of your technical analysis. The plus point is that you don’t need to install any additional software or plugins. Unique TrendSpider technical analysis tools are;

• Customized Checklists
• Automatic trendline detection
• Candlestick pattern recognition
• Breakout, support, and resistance levels detection
• Anchored Volume-by-Price
• Alphatrends Anchored VWAP
• Support and Resistance levels Heatmap
• Gap detection
• And many others

TrendSpider Asset Insights

Another remarkable and unique TrendSpider feature is Asset Insights. Asset Insights enables traders and investors to understand the context behind the charts. It is non-technical data that complements the technical analysis. Asset Insights is in fact a toolkit that functions to give traders visual access to non-technical data right on their screen. The feature comes with the following key benefits. 

• Analyst Actions – Analyst Actions is a feature that visualizes recommendations of the analysts in a new light on your screen.
• Insider Trades – Enables traders to carefully analyze what corporate insiders are looking to achieve when they buy or sell shares of their own companies.
• Benzinga News – This is a feature that integrates Benzinga News Headlines on your charts to enable you to keep yourself updated. You can also filter and customize it as per your preferences. 
• Earnings Data – Feature presents past and future earnings data along with the EPS and compared it against last year’s data.
• Price Seasonality – TrendSpider ensures that traders and investors understand how some assets behave differently in different seasons. 
• Dividends Feed – This is another praiseworthy feature that enables you to see dividend data right on your charts.
• Splits and Reverse Splits – Highlights splits and reverse splits with powerful visualization on your screen.

TrendSpider doesn’t only aim to provide non-technical data. It aims to make non-technical data as useful for you as technical data. That is why TrendSpider always looks for visualization of non-technical data on your screen. The unique combination of both types of data helps traders make the best trading decisions. 

TrendSpider Backtesting

The Backtesting tool is another remarkable feature that helps traders improve their trading strategies. The strategy tester, equipped with 20 plus years of historical data, leads your strategies to perfection. Thanks to the easy-to-use backtesting tool, you can now define your own buy and sell rules even when you don’t know much about coding.

TrendSpider backtesting tool allows you to build your custom strategies by combining price action, indicators, charts, volume, and any other element of your choice. Thus, you can develop a strategy through trial and error method that will reduce risk but improve results. The plus point is, TrendSpider fully integrates the backtesting tool into your charts. Therefore, you don’t have to learn or pay additional fees for the backtesting tool. Its other key advantages are;

• User-friendly and visual interface
• Works on any timeframe
• Supports both – short and long-term strategies
• Get live alerts from backtested conditions
• Robust performance tool

TrendSpider Alerts

TrendSpider Alerts are also dynamic and unique. Users can customize alerts with any combination of timeframes and indicators. Thus, TrendSpider Alerts empower traders never to miss any profitable trading opportunity. 

These remarkable alerts monitor charts just like human beings. The only difference is that traders don’t have to be active all day long. Alerts function by monitoring charts, watching for some particular events like breakouts to take place, wait for confirmation, and instantly alert traders when the required conditions are fulfilled. 

Moreover, TrendSpider Alerts follow unique criteria consisting of multiple triggers like indicators, trendline, Fibonacci Levels, etc. They only issue alert signals when a particular logical criterion is met. Thus, TrendSpider Alerts eradicate the possibility of a fakeout. Users instantly receive alerts via text messages, email, or TrendSpider app notifications. Therefore, traders feel more confident when using TrendSpider as they never miss any profitable opportunity. 

TrendSpider Alerts feature brings the following key advantages for traders.

• The cutting-edge technology powers the Alerts feature to automatically monitor charts and instantly alert you when the right conditions exist. 
• Receive real-time alerts through a medium of your choice.
• Empowers you to let the market come to you rather than letting yourself go into the market’s trap.
• Receive alerts for any criterion of your preference such as upon bounce or breakthroughs affecting any indicator.
• Define a buffer zone around the trendlines to adjust the sensitivity. 
• Set multiple timeframes for more accurate alerts.
• TrendSpider integrates Alerts into scanning, backtesting, and charting for your ease.
• Simple and easy-to-use feature but extremely flexible and powerful at the same time. 

TrendSpider Trader’s Bill of Rights

Do you want to know what makes TrendSpider unique and different from other trading platforms? It is the Trader’s Bill of Rights. The purpose of this bill is to demonstrate that the platform doesn’t only promise reliability but also ensures it. TrendSpider is totally transparent about how does the platform handle outages. If the platform suffers any unplanned downtime, the Trader’s Bill of Rights entitles users to a credit on their TrendSpider account. The credit amount can be between 10% to 75% of the monthly subscription rate. Users get credit as compensation for their losses incurred during the downtime. Thus, TrendSpider is extremely fair with its users and protects their rights before anything else. 

TrendSpider Pricing

TrendSpider offers three pricing plans. Users also can go for a 7-day free trial available on all three plans. Moreover, users can also cancel or upgrade their pricing plan whenever they want.

• Master – Master plan is the best for professional and full-time traders. It costs $97 per month or $1,164 per year.
• Elite – Elite plan is the best for more experienced and frequent traders. It costs $65 per month or $780 per year.
• Premium – Premium plan is the best for active traders. It costs $33 per month or $396 per year.

Is TrendSpider best for you?

TrendSpider is one of the best for you if you are looking to capitalize on phenomenal charts, technical analysis tools, real-time data, and alerts. It is a comprehensive platform that also gives you access to some unique tools you cannot experience on any other platform. Its Smart Charts and Asset Insights are the most unique tools you can find on any modern trading platform. 

TrendSpider is also best for you if you are looking for a user-friendly platform. Its automated charts and technical analysis tools are easy to work with. You can also allow the platform’s algorithms to make decisions on your behalf. Moreover, it is also one of the best trading platforms when you intend to use it in the traditional way. You can customize all major settings and give yourself full control. 

Experienced traders always find the feature-rich TrendSpider platform and depth of the platform. However, if you aren’t fully aware of how the TrendSpider platform works, you may struggle. Although there is a lot of educational material available on the platform to help you learn, still you need a lot of practice. The good news is that the TrendSpider customer support team is always there to assist you. 

Moreover, TrendSpider is also one of the best platforms for you if you want to backtest your strategy. The platform also immensely contributes to your development as a trader. It indicates all key aspects you missed when conducting technical analysis when you proof check your work with TrendSpider. 

TrendSpider Review Summary

TrendSpider is one of the best trading platforms for traders. The platform is feature-rich and yet the company always looks for improvements. TrendSpider aims to make trading easy and flawless for traders all across the globe. That’s why the platform puts a huge emphasis on innovation. 

Traders who base their trading decisions on charts, technical analysis, volume, and price action can make the most of this astonishing platform. Its phenomenal stock scanner and dynamic alerts system are also crucial for traders. In a nutshell, the TrendSpider trading platform is the best for anyone who wants to improve as a trader, make informed trading decisions, and never miss a profitable trading opportunity. 

We hope that you found the TrendSpider review really helpful. Our TrendSpider review is totally honest and based on our testing of the platform. Give TrendSpider a go and you will be glad you did.

Click here to try TrendSpider today!