TrendSpider is a brand-new charting platform that uses automated analysis tools. The platform can instantly recognize patterns and draw trendlines for technical traders. The platform is packed with valuable functions. Read our review to see if this platform is an excellent fit for you.
What is TrendSpider?
Trendspider.com is an automatic technical analysis software platform utilizing advanced machine learning algorithms to find patterns and chart patterns. Trendspider integrates lovely charts with an effective automatic analysis tool.
TrendSpider is a fairly new fintech company released in 2017 and based in Chicago, IL. The charting software application was established by veteran traders and chartists after 2 years of research study. Its really obvious in the instinctive nature of the functions and tools.
Is this charting software application worth spending for? Keep reading our TrendSpider evaluation to learn.
Prices Options for TrendSpider
TrendSpider uses a seven-day complimentary trial on all memberships. After the trial, TrendSpider pricing is as follows:
The Elite Plan is $69-per month when acquired as a regular monthly membership and $57/month when prepaid annually. This consists of everything in the PRO Trade Plan with the addition of pre and post-market data, indices information, and futures data. You will also get greater limitations on a lot of the functions, as well as access to special features like multi-factor alerts.
The platform is fairly easy to use and runs smoothly. Throughout our tests, the platform was quick and didnt experience any lagging.
The Premium Plan is $39-per month when acquired as a month-to-month membership and $33/month when prepaid each year. This includes real-time data during market hours just for NASDAQ, NYSE and AMEX cryptos, stocks and etfs (over 100 pairs). It includes a complimentary individually training session with access to endless trend detection, multi-timeframe analysis, indications and trendlines and search for the month. There are unlimited Total Alerts each month however 10-limit active signals and 30-days max alert life time.
You can use the code DTR10Z to save 10% for the first 12 months on any plan.
When acquired as a regular monthly membership and $97/month when prepaid each year, the Master Plan is $119-per month. This plan is nearly similar to the Elite plan, with higher limitations on many of the functions like signals, offices, and scan outcomes. The Master plan appears like an excellent option if you discover that you are striking limits with the Elite strategy.
The platform can be used to evaluate cryptocurrencies, stocks, and currencies.
Lets start by talking about the platform itself. TrendSpider is a web-based charting software loaded with some unique functions. At its core, it is a well-crafted charting service with historical information and real-time charts. The platforms special offerings are the automated charting functions. These automated charting functions are great for technical experts who wish to get an automated viewpoint on their charts.
TrendSpider Features Breakdown
TrendSpider provides candlestick charts, hollow candles, and bar charts. Truthfully, the charts alone make this platform worth the cost. Traders have access to real-time charts and all of the technical signs you could require.
Enter any ticker into the chart, select a timeframe and TrendSpider will reveal you all of the appropriate trendlines. Its very fascinating how the algos find different pattern lines varying from basic highs and lows to fractals with cross-directional style peaks and valleys. The automated trendline detection can be valuable for discovering assistance and resistance levels, as well as potential turnaround points for stocks.
The star of the TrendSpider platform is “automated charting analysis.” Trendlines are among the major components of this analysis.
TrendSpider might hold its own as a charting platform for traders, but there are a lot of other unique features that make the platform stick out.
These are my favorite features of this amazing platform.
You can personalize the trendline settings to match your needs. Here are the main analysis types:
Initial– This uses the original algorithm the company developed
Enhanced– This uses the improved algorithm the company established
Experimental– This utilizes a few of the new features the company is testing out
You can customize the trendlines even further by tweaking the sophisticated settings. Ensure to spend a long time playing around with the settings if you desire to get the most utilize out of the platform.
TrendSpider declares to discover every single possible trendline on a chart and its apparent with the conviction settings.
The conviction setting is a filter that users can select in between High, Med, Low and None. High conviction filters down to the strongest and most effective trendlines on a chart. Medium and Low settings will add more alternate and secondary trendlines. Setting it to None will show each and every single trendline on the chart. These settings are likewise focused on the user, given that more experienced chartists will wish to see the hidden and secondary trendlines for their analysis. Newbies will desire to stick to the High conviction setting to keep things simple.
Manual Trendline Tuning
Each trendline is color coded to the underlying formula that can be accessed under the Trends tab. The formulas can be modified and improved by hand through the Manual Tuning Mode choice, which will then allow the algos to use automatically moving on. This is an advantage to non-programmers as user-friendly maker discovering algos discover with each piece of data and input. If you dont believe it is handy in your analysis, you can likewise right click on a trendline to eliminate it.
Previously this year, TrendSpider also added the performance to develop your own trendlines and set signals for breaks of these lines.
TrendSpiders automatic analysis can also recognize various candlestick patterns on a chart. You can select from a long list of candlestick patterns, and the platform will automatically highlight these patterns on the chart. The candlestick pattern detection is a really unique function of this trading platform.
While the pattern acknowledgment tool does not represent lead-in trends, I found the real pattern recognition to be really accurate.
I discovered this to be especially helpful to see how certain stocks behaved relative to particular candlestick patterns. If you desire to see how a stock usually responds the day after forming a hammer candle, you can highlight all of the hammers on the chart and examine the historic information.
Automatic Fibonacci Retracements
This is among the breakthrough features of TrendSpider. Fibonacci-based chartists will inform you the issue with plotting Fibonacci lines (fibs) is identifying where the high and low points must be. Based on those high/low cost points is where the entire essence of other harmonic and Elliott Wave patterns depends upon. Doing this by hand efficiently is a trial and error process that can take much time. TrendSpiders clever algos immediately find the most pertinent peak to trough levels to compute and outline the most reliable fibs. Ive doubled examined and discovered the algos to be extremely exact in discovering the important inflection points.
Indicators and Multi-Time Frames
You can set cost or indicator-based Alerts straight on the charts. The Alerts can be as particular as the variety of times a stock cost bounces off a trendline or at specific price levels etc. It is very important to keep the Alerts selective, so you arent continuously getting pinged with SMS, email or text alerts all day.
The majority of platforms have alerting abilities, however TrendSpider takes this function to another level with two unique functions.
Users can produce any number of watch lists rapidly by style and then have TrendSpider immediately examine stocks on the list or scan for potential patterns. When utilizing the None setting, you can evaluate each possible trendline and pick the most engaging ones to stay on the chart by right-click and picking the Lock tab.
Multi-timeframe analysis can be useful for recognizing assistance and resistance levels across various timeframes or finding potential inflection points for a stock. This tool can be particularly helpful for traders who desire to comprehend how longer timeframe price levels might affect much shorter timeframe charts (i.e. intraday). Ive been trying to find a tool like this in a charting software for awhile and TrendSpider certainly delivered.
This is really one of the most powerful and practical features of the platform. The capability to plot tools from one chart timeframe onto another conserves a lot of time you d typically invest clicking between charts. You can plot a 200-week moving average on an everyday chart, carry trendlines from one timeframe to another, and make use of technical indicators across multiple timeframes.
Over 40 signs including moving averages, Bollinger Bands, parabolic SAR, RSI, MACD and stochastics can be included to the upper or lower chart to add rate and momentum-based triggers. The Multi-Timeframe Analysis allows comparing and overlaying analysis in a direct multi-timeframe analysis like an MRI versus an x-ray exam. Multi-time frames offer is the very best market intelligence to boost rate action interpretation.
1. You can set vibrant alerts
Whereas fixed price informs will inform you when a stock strikes a specific price, a dynamic alert will notify you based upon a stocks rate action relative to a vibrant price location. You can set alert an alert for when a stock breaks below a particular trendline or is approaching its 200-day moving average.
2. You can specify different alert triggers
Most alert systems follow binary criteria (i.e. alert when a stock strikes $20). TrendSpider uses three various trigger types:
This permits you to take your notifies to the next level. You could set an alert for a stock breaking through a trendline or utilizing the trendline as support/resistance. The distinction in these triggers can help traders use signals better.
You can also pick the sensitivity of the alert. You could set a trendline break through alert to have a sensitivity of $0.10 or $0.50.
Trendspider Platform Differentiators
Weve been impressed with the rate at which TrendSpider continues to release innovative new functions. These arent little bug repairs or minimal enhancements– they considerably increase the worth of the platform. Evaluate out all of these new features with a 7-day free trial.
Faster Data Feeds– Always a plus …
TrendSpider accommodates technical analysts and chartists. It is a fantastic knowing tool that can boost technical analysis skillsets and train the eyes to find patterns not considered prior to. It can likewise conserve traders a lot of time when drawing lines and carrying out technical analysis..
We dont normally review reviews a couple of months after posting them, however we felt it was essential for TrendSpider. TrendSpider is one of the most actively established platforms weve seen in a while, and the group continues to add brand-new functions. Here are a few of our preferred features that were included the months following our initial TrendSpider evaluation.
Fibonacci Alerts– You can now set alerts on Fibonacci levels. Because of all of these brand-new alert types, TrendSpider increased the alert limitations per account from 50 to 100.
Support/Resistance Heatmaps– You can now extend support/resistance heatmaps throughout the full chart. Second, this function helps traders recognize historic support/resistance levels that may be pertinent in the future.
An Ever-Improving Platform (UPDATE).
Knowing curve might be steep for newbies without some background in technical analysis.
Relatively new item so features are still being refined and included.
Capability to create custom trendlines — While the automated trendlines are effective, its valuable to be able to draw your own. You can likewise set informs for the trendlines you draw yourself.
Raindrop Charts– Raindrop charts are a special chart type that utilize VWAP data instead of the open/close information youll discover in conventional candlesticks and bar charts. The left side of the rain drop represents VWAP from the very first half of the trading duration and the ideal side represents VWAP for the 2nd half of the trading duration. This brand-new chart type paints a better image of intraday trading activity.
Very precise trendline and candlestick identification.
Flexible and customizable configurations.
Effective automated Fibonacci retracements with exact high/lows.
Conviction settings are excellent for newbies to find out and pros to use.
Excellent client assistance with one-on-one session scheduling readily available.
Dynamic alerts provide you more eyes on the markets looking for triggers.
Enhances price interpretation with trendline spotting (every trendline!).
What Type of Trader Trendspider is Best For.
Multi-Factor Alerts– TrendSpider included the functionality to set alerts utilizing a variety of indications. For example, you could produce an alert for a trendline break with higher volume and overbought RSI. Theres a great deal of capacity here for traders who now how to make the most of this feature.
New charting functions– The platform now features regular monthly candlesticks, volume moving averages, and advanced modification for existing technical indicators.
TrendSpider is accurate and exceptionally efficient with its identification and scanning capabilities. This is as much a finding out platform for even the most advanced specialists as the maker finding out algos spot trendlines literally invisible to the naked eye.
At its core, it is a well-crafted charting service with historical data and real-time charts. These automated charting functions are terrific for technical experts who want to get an automated point of view on their charts.
We suggest this tool for traders who are familiar with charts and have a foundation in technical analysis. This is not a trading “system” that informs you where to offer and purchase. It is an unique tool that adds a brand-new layer of depth to the charting experience. You will certainly want to give TrendSpider a try if you are trading based on technical analysis. It is one of the more special charting platforms on the business and the market continues to release ingenious brand-new functions that improve the trading experience.
We anticipate huge things from TrendSpider. The platform released in early 2018 after 2 years of screening, and the team is still including new features regularly. You can inform this is a company that is attempting to innovate in this space. Rather honestly, the charting alone deserves the monthly fee, but customers get access to a complete suite of proprietary analysis tools.
TrendSpider provides candlestick charts, hollow candle lights, and bar charts. The capability to plot tools from one chart timeframe onto another conserves a lot of time you d generally spend clicking in between charts. Raindrop Charts– Raindrop charts are a special chart type that use VWAP data instead of the open/close data youll find in conventional candlesticks and bar charts.
TrendSpider is a tool that will greatly augment a traders capability to completely examine an interpret stocks price action from numerous angles to parlay that market intelligence into action through trades.
Method Backtester– TrendSpider just recently presented a technique backtester that can be used to test techniques utilizing a range of entry/exit criteria. TrendSpiders backtester shows the theoretical entries and exits straight on the chart which makes it easier to visualize the technique.