TrendSpider Review 2022: The Best Technical Analysis Around?

Full TrendSpider Review

TrendSpider is a type of stock analysis software that takes full advantage of automated technical analysis. Aimed at day traders, swing traders, and general investors, this platform can help you spot trends faster.

TrendSpider is best for:

• Active traders
• Early adopters
• Advanced traders

Do you want to spot and exploit intra-day stock market trends faster? Learning how to make decisions faster is the cornerstone of successful stock market trading.

Through a range of unique charts, including the groundbreaking TrendSpider Raindrop chart, investors can add an extremely powerful tool to their arsenals. Keep reading our TrendSpider review to find out more about how this platform works.

What is TrendSpider?

TrendSpider was founded in 2016 and currently has offices based in locations as diverse as Russia, Ukraine, India, and the U.S. The premise of the platform is it was designed by traders for traders.

With its fully customizable automated technical analysis, stock traders can incorporate machine learning algorithms into their trading strategies. There are also lots of educational options to deal with the learning curve, including highly detailed blog posts and video classes.

How TrendSpider Works

Where TrendSpider excels is in its user-centric interface. The platform is not just educational but also fun to use.

Creating an account with TrendSpider couldn’t be easier. It only takes a few minutes to establish your account and begin taking advantage of the technical analysis tools on the site.

New users can also take advantage of a one-on-one call with a trading expert. This phone call is completely free of charge and is conducted by a trading expert who will show you how to use many of the platform’s most popular tools.

It’s an added incentive to start using the TrendSpider application and something not offered by other similar platforms.

The only real downside of the user interface is you cannot open two TrendSpider tabs at the same time while logged into your account. Other than that, TrendSpider is relatively simple to get started with, especially if you have prior knowledge of technical analysis.

TrendSpider Features

TrendSpider includes a range of core features that can intimidate newer traders. While the learning curve is relatively steep, our review on TrendSpider maintains this new approach to technical analysis is one of the most intriguing products on the market today.

Charts

Compared to other software, TrendSpider is relatively lightweight on charting. These browser-based charts offer just three bar types and intraday minute, daily, and weekly charts. Where it stands out is in the customizable overlay. Users can overlay their charts with several popular indicators, which can be toggled on/off at will.

Recently, TrendSpider has also implemented a new and unique chart type, known as the Raindrop Chart. The difference with this chart is rather than the opening/closing date used for charts like the candlestick, it uses VWAP data. Each side of the raindrop follows the first and second half of the trading period.

In simple terms, raindrops are far more accurate at measuring intraday trading activity.

Automated Trendline Analysis

TrendSpider automated trend line analysis is the platform’s core feature. Users have full control over how aggressive the algorithm is. When the automation sequence runs, it’s extremely effective when spotting more difficult trend lines.

Although most users should stick to the highest confidence trend lines, more advanced traders may want to add additional trend lines to try to find gaps in the market to exploit.

Automated Heatmap

Alongside automated trendlines, the automated heatmap is an incredibly useful tool for pinpointing strong areas of support and resistance. When combined, these two tools are invaluable for nailing your next trade.

This advanced plotting of support and resistance provides an even greater in-depth look into when and where trades should be made. It demonstrates that this was a platform made by real traders, rather than just programmers.

Multi Timeframe Analysis

Multi-timeframe analysis is another core feature of TrendSpider. This feature enables you to add technical indicators and your chosen trend lines to a secondary time frame on one chart. Other software options typically require you to work with multiple charts if you want to see this data.

Simply refresh your chart in real-time to add the latest market data and see how your analysis changes.

Automated Fibonacci Retracements

Advanced traders will want to take advantage of automated Fibonacci retracements. When using this feature, traders can automatically find important inflection points. These are based on Fibonacci retracements.

The reason why this is so powerful is that it’s an extremely difficult process to carry out manually. Identifying both support and resistance zones with this automated feature can supercharge your analysis.

Watch Lists

Users allow you to create watch lists for the different markets covered under your subscription plan. Lists can be created via theme and TrendSpider will instantly analyze any stocks on that list for certain patterns.

The nature of real-time data enables real-time plotting and automated alerts for whenever certain parameters are triggered. These can be customized according to your trading strategy.

Users report that the “Watch Lists” feature regularly finds hidden trend lines. The trendlines highlighted can be individually analyzed to find trading opportunities.

Candlestick Pattern Detection

TrendSpider’s candlestick recognition feature allows for automatic analysis of candlestick charts. Most traders favor candlestick graphs when it comes to what informs their trading decisions. However, spotting the right patterns can be tough.

Choose from a long list of different candlestick patterns and they will be automatically highlighted whenever they come up. This drastically cuts down on the amount of time it takes to analyze graphs and allows you to make faster trades.

TrendSpider Pricing

Reviews on TrendSpider often praise the fees charged by the platform. We believe that multiple price points combined with the seven-day free trial allow users to try out the platform and find the features that are most valuable to them.

Let’s take a look at the three TrendSpider subscriptions available now.

Premium ($39/month $336/year) – Includes all automated analysis features but no alert functions. Stock data is delayed by 15 minutes, thus making this ideal for longer-term investors.

Elite ($69/month $663/year) – The elite level adds real-time streaming data and provides you with up to 15 price alerts at the same time. Also includes support and training options.

Master ($119/month $989/year) – Master level TrendSpider includes OTC US stock data, pre-market, and after-hours price data. Users on this plan can have 25 different active alerts at the same time.

TrendSpider FAQ

Got questions about the TrendSpider platform? We answer some of the most common questions investors have.

Who is TrendSpider Best For?

TrendSpider can be used by longer-term investors, but since real-time data is the core of this platform it’s chiefly designed for the day trader and the swing trader.

How Do I Learn How to Use the Platform?

There is quite a steep learning curve, according to most reviews on TrendSpider. The platform responded to this by including in-depth blog posts and video guides to help you learn the features.

Can I Make Trades with TrendSpider?

No. Brokerage connections are not currently supported, so you’ll need to use a separate brokerage platform to place your trades.

Which Assets Does TrendSpider Cover?

TrendSpider goes so much further than stock analysis. It also offers support for ETFs, Forex trading, and cryptocurrency. This platform is continually adding new assets to trade, so it’s an all-in-one solution for technical analysis.

Does TrendSpider Offer a Mobile App?

TrendSpider does offer a mobile app for both Android and iOS. The mobile app is considered to be faster than the web app, therefore it’s ideal for day traders who are connected to their brokerage. Even though the app only offers information a few milliseconds faster, this can make a big difference for day traders.

Is TrendSpider Right for You?

Our TrendSpider review believes this is a solid technical analysis platform that takes advantage of the latest in technology. Its machine learning algorithm works and dramatically cuts down on the amount of time it takes to perform your analysis.

While newbies may find it difficult to take full advantage of the tools available, its learning center offers everything you need to learn how everything works.

Overall, we believe TrendSpider is a solid tool to add to your trading strategy.

Check out TrendSpiders and sign up for a 7-day free trial.