TRENDSPIDER | THE BEST AI TOOL EVER?
Discover, analyze, and automate your trades with Trendspider. Backtesting, market scanning, and price alerts help refine your strategies. Free trial available.
Our Review Rating System
We employ a 5-star rating system for all the AI tools we review to give you a comprehensive idea of the overall utility of each tool.
- Five stars: Editor’s choice
- Four stars: An excellent choice
- Three stars: Meets some of our standards
- Two stars: Doesn’t meet our standards
- One star: Not recommended
Our team of experts has awarded this AI tool an overall rating of five stars for its excellent technical analysis features, user-friendly interface, and robust customer support.
The TrendSpider platform proved to be a valuable tool for traders seeking accurate and reliable technical analysis in the dynamic world of financial markets.
What is Trend Spider?
TrendSpider is a stock market charting platform that's designed to cater to both novice and experienced traders. While it serves a broad spectrum of traders, it primarily targets day traders, swing traders, and general investors.
Our team found out that the platform's adaptive nature is its standout feature, with its machine learning algorithm continuously improving its technical analysis capabilities based on user feedback and input.
How Trend Spider Works
TrendSpider stands out with its user-centric interface, making it not only educational but also enjoyable to use. We found that creating an account with Trend Spider is a breeze, taking just a few minutes.
What we were really impressed by though is that Trend Spider offers a free one-on-one call with a trading expert for new users. We believe this personalized guidance can help users navigate the platform's features effectively, making it an enticing option for traders looking to enhance their skills.
We found the platform's interface to be generally user-friendly, but one limitation is that you cannot open multiple TrendSpider tabs at the same time while logged into your account. However, for those with prior knowledge of technical analysis, getting started with TrendSpider is relatively straightforward.
Key Features
TrendSpider offers a range of powerful automated analysis features that cater to traders with varying levels of experience.
Here are the features we found to be really impressive and valuable:
Ease of Use
TrendSpider provides automated technical analysis tools suitable for both beginners and professional traders. Its intuitive interface ensures smooth navigation, and the one-on-one session with a trading expert at the start is a bonus for those who value efficiency.
Charting
TrendSpider's charting abilities are a highlight. It offers traditional chart patterns such as line, candlestick, and bar charts, along with innovative options like Hollow Candles, Heikin Ashi, and Raindrop Charts. Raindrop chart patterns provide a unique view of price movements based on volume-weighted average price (VWAP) data, making them invaluable for intraday trading.
Automated Trendline Analysis
Accurate trendline analysis is essential for technical traders. TrendSpider automates this process, using algorithms and machine learning to identify and plot trendlines accurately. This not only saves time but also increases precision, helping traders identify potential trend points more effectively.
Automated Heatmap
The automated heatmap feature is a valuable tool for pinpointing areas of support and resistance. When used in conjunction with automated trendlines, it provides a comprehensive view of potential trade opportunities. We believe this combination demonstrates that TrendSpider was developed with a deep understanding of the market.
Multi-Timeframe Analysis
TrendSpider's multi-timeframe analysis allows users to add technical indicators and trend lines to secondary time periods on a single chart. This feature simplifies the process and enables real-time updates of financial analysis.
Multi Symbol View
Released in the summer of 2022, the Multi Symbol View feature allows traders to view up to sixteen different charts simultaneously, customized by symbol, trading indicator, multiple timeframes, and chart type. This enhances the ability to monitor multiple stocks at once, facilitating faster reactions to market changes.
Automated Fibonacci Retracements
TrendSpider's automated Fibonacci retracements help traders identify key inflection points based on Fibonacci levels. This feature saves time and enhances the precision of technical analysis, making it particularly appealing to advanced traders.
Automated Dynamic Price Alerts
Choose any technical indicator or candlestick pattern for the stocks in your watchlist, and TrendSpider will trigger automated dynamic price alerts in the form of an SMS or email notifications once your specified pattern is detected.
Trading On-the-Go with TrendSpider Mobile Apps
TrendSpider offers native Android and iPhone applications, ensuring traders can make informed decisions and take action promptly. The mobile apps bring the power of this automated trading software to traders' pockets, enhancing their ability to trade on the go.
Why Use Trend Spider?
TrendSpider is best suited for active traders, early adopters, advanced traders, and technical analysts.
Here are the reasons why this automated trading platform can be a valuable asset for traders looking to improve their strategies and stay ahead in the competitive world of financial markets.
Innovative Features
Trend Spider introduces unique features like Raindrop Charts, Multi Symbol View, and automated Fibonacci retracements, providing traders with a comprehensive toolkit for technical analysis.
Personalized Guidance
The availability of one-on-one sessions with trading experts ensures that users receive tailored assistance and guidance in effectively using the platform.
Timely Alerts
Trend Spider's automated dynamic price alerts help traders stay informed by sending SMS or email notifications when specific technical indicators or candlestick patterns are detected, allowing for swift responses to market changes.
Pricing
TrendSpider offers various pricing options to cater to different trader needs:
- Essential: $299.52 per year (after a 7-day free trial)
- Elite: $351.00 per year (after a 7-day free trial)
- Elite Plus: $486.00 per year (after a 7-day free trial)
- Monthly subscription available after the free trial period
If you start a yearly plan now you can get 12 months of real-time non-pro CME Futures data for free, a $90 value.
Pros and Cons of Trade Spider
We generally found Trade Spider to be reliable analysis software that offers multiple benefits and we only have a couple of minor drawbacks to mention.
Pros
Automated trendline analysis and dynamic price alerts with real-time data
Automatic candlestick pattern recognition
Easy-to-use interface with a manageable learning curve
Rapid analysis for price action
7-day free trial period
Monthly subscription option
Mobile apps for both Android and iPhone users
Cons
Viewing multiple charts is challenging
Charts are sometimes slow to load
Alternatives to TrendSpider
While Trend Spider is a powerful and innovative tool for technical analysis, we also tested and reviewed several other platforms in the market that cater to different trading preferences and needs.
Here are a few alternatives we think you might want to check out:
ROX Trading
ROX Trading is a comprehensive Algo Trading Software designed to serve a wide range of businesses, from startups to enterprises. It offers end-to-end solutions with a focus on web applications, making it accessible and versatile.
ROX Trading specializes in Algorithmic Trading, providing a robust ecosystem for traders seeking automated trading solutions.
StreetSmart Edge
StreetSmart Edge is a feature-rich Algo Trading Software that caters to various business sizes, from startups to enterprises.
Similar to Trend Spider, it provides end-to-end solutions within a web application environment. StreetSmart Edge stands out with its offerings in Algorithmic Trading, Online Brokers, and Trading tools, making it a one-stop solution for traders.
StocksToTrade
StocksToTrade is another comprehensive Algo Trading Software suitable for startups, SMEs, and enterprises. It offers a wide array of features, including Algorithmic Trading, Charting, Stock Analysis, Stock Screeners, and Stock Trading Bots.
This platform provides a robust toolkit for traders looking for an all-in-one solution for their trading needs.
Blackwave Trading
Blackwave Trading is a fully featured Algo Trading Software that serves startups, SMEs, and enterprises. It provides end-to-end solutions within a web application framework, emphasizing Algorithmic Trading. For traders focused on automated trading, Blackwave Trading offers a compelling alternative.
Key Takeaways
In conclusion, TrendSpider is a versatile and innovative platform that empowers traders with advanced technical analysis tools. Its adaptive nature, automated alerts with real-time data and trendline analysis, and user-friendly interface make it a valuable asset for traders at all levels.
While it has some limitations, such as the challenge of viewing multiple charts simultaneously, its pros far outweigh the cons. For traders looking to enhance their technical analysis capabilities and gain an edge in the financial markets, TrendSpider is a compelling choice in the crowded stock chart analysis software market.
How We Tested Trend Spider
In our evaluation of Trend Spider, we meticulously examined the tool based on several key criteria. Here are the criteria we used to rate and review this platform, along with our opinions:
Ease of Use: Trend Spider impressed us with its intuitive interface, making it accessible to both novice and advanced traders. The one-on-one session with a trading expert during the onboarding process was a valuable feature, enhancing the user experience.
Charting Capabilities: Trend Spider's charting capabilities left a lasting impression. It offers a diverse range of chart types and overlays them with popular indicators, allowing for a personalized approach to understanding market trends. The introduction of innovative chart types, such as Raindrop Charts, was particularly noteworthy for intraday analysis.
Automated Analysis Tools: We found Trend Spider's automated analysis tools, including trendline detection and heatmap features, to be highly effective in pinpointing areas of support and resistance. These tools are indispensable for traders seeking comprehensive technical analysis.
Mobile Accessibility: Trend Spider's native Android and iOS apps impressed us with their ability to provide traders with on-the-go access to automated technical analysis. The mobile apps ensure that traders can make quick decisions and take action promptly, which is crucial in the fast-paced world of trading.
Customer Support: The availability of one-on-one sessions with trading experts and good customer support added to our positive experience with Trend Spider. The platform's commitment to assisting users in making the most of its features was evident in its support offerings.
Trend Spider FAQ
Here are some of the most frequently asked questions about our Trend spider review.