So, what is TrendSpider? TrendSpider is a top-rated technical analysis software that empowers traders to make informed and efficient decisions. With a user-friendly interface and a host of features such as scanning and screening tools, advanced charts, dynamic price alerts, Fibonacci retracements, multi-timeframe analysis, and backtesting, TrendSpider has quickly become a popular choice among traders. In this TrendSpider review, we will showcase some of the platform’s standout features, such as its proprietary Raindrop chart, automated pattern recognition, and advanced trading bots. We will also discuss the pricing and available plans for TrendSpider.
One thing we were impressed with in our research of TrendSpider is the continuous software updates and features that they continue to roll out. And now with over 55,000 support assets including ETFs, Stocks, Indices, OTCs, Currency FX pairs, Cryptos, and even futures & commodities; whether you’re a seasoned trader or just starting out, TrendSpider has something to offer.
If you’re not familiar with this type of chart, you’re not alone. Raindrop charts are a new proprietary VWAP-adjusted type of chart that you’ll only find within the TrendSpider platform. Raindrop charts are a type of price chart that combines price, volume, and sentiment data to provide a unique visualization of market activity. Raindrop charts are useful for identifying breakouts and fakeouts, following the volume, and spotting points of market decision. They also offer specific patterns, such as balloon-shaped raindrops, that can help traders identify strong moves, and make more informed decisions.
Although the Raindrop Charts are just one unique example available within TrendSpiders, the following charting features are all included withTrendSpiders least expensive subscription:
- Standard charts (candlestick charts, bar charts
- Manual drawing
- logarithmic scale
- Technical Indicators
- Fibonacci sequences
- Anchored indicators
- 1 minute time frame
Raindrop Charts, along with all of the other charting features above can be used for scanning, backtesting, and creating alerts. But to unlock the full capacity of TrendSpider, pairing these tools with Automated Pattern recognition and a trading bot can really take you to the next level.
Automated Pattern Recognition
The automated pattern recognition abilities of TrendSpider allow traders to finally outsource the tedious and frustrating nature of chart analysis. A tool TrendSpider has developed to help users spot trends quickly, and maximize trading opportunities. The platform offers a range of features, including Automated Pattern Recognition, Automated Trendline Detection, Automated Fibonacci, Candlestick Pattern Recognition, Chart Pattern Recognition, Price Action Heatmaps, and Automated Gap Detection.
These tools can save time and frustration by automating chart analysis, allowing traders to focus on making informed trading decisions. And it’s not just the standard patterns mentioned above, TrendSpider offers user-customizable, algorithmic automation that allows users to define their own rules and settings. So no matter what pattern it is you’re trying to find, with TrendSpider automated pattern recognition, it does the work every time you switch tickers.
One of the most impressive and robust features available on the platform is TrendSpider’s trading bot, unsurprisingly traders on the most basic subscription plan are not given access to this immensely powerful tool. With Trading Bots from TrendSpider, any trader can put their strategies on autopilot. This powerful automation tool allows you to turn any strategy into a fully automated bot without writing any code. Whether you want to post to a Discord channel, send a signal to an order routing system, or anything else you can dream up, Trading Bots make it easy to automate your trading process.
With trading bots, you don’t need any coding skills to use automated market-driven workflows. Just define your buy and sell rules, run a backtest, and launch your trading bot in minutes. And because Trading Bots are position-aware and always-on, your strategies will never miss a beat.
One of the best things about Trading Bots is their seamless integration with other features in the TrendSpider platform, such as the Strategy Tester and Smart Charts. This allows you to automate your strategies and see their performance on any chart they are running on.
Additionally, Trading Bots are highly customizable and flexible, so they can match your strategy exactly. And because they are powered by a cloud-based system, you don’t even have to keep TrendSpider open for your Trading Bots to be working.
So if you want to take your trading to the next level by automating your strategies, consider using Trading Bots from TrendSpider. With its user-friendly interface and powerful automation capabilities, it’s the perfect tool for traders of all levels.
What does TrendSpider cost?
Whether you are a long-term investor, or an active day trader Looking to automate and scale your effectiveness, TrendSpider provides 3 different subscription levels to meet your needs: Premium, Elite, and Advanced.
The Premium plan costs $39 per month or $198 per year and includes access to real-time market data for US stocks, ETFs, cryptocurrencies, digital assets, OTC/Pink-sheet stocks (delayed), futures, and after hours/pre-market data. However, this plan does not include access to delayed indices data.
Subscribers to the Premium plan can use TrendSpider’s charting and automated analysis features, except for automatic anchoring. They can also create up to two workspaces and set up to 25 alerts. The alert notification feature on the Premium plan supports dynamic alerts, but not multi-factor alerts.
Premium members have limited access to Asset Insight features. They cannot use the intraday scanning function or perform backtests, and do not have access to trading bots. Because of these limitations, the Premium plan is best for longer-term investors who do not need on-demand data and automated trading.
The Elite plan costs $79 per month or $351 per year. It includes access to delayed indices data, backtesting capabilities, multi-factor alerts, intraday scanning, automatic anchoring, all the Asset Insight features, and three trading bots. It also allows for more flexibility with the number of workspaces, alerts, and scan results. Additionally, the Elite plan includes unlimited training, phone support, and priority customer service.
The Advanced plan is an expansion of the Elite plan, offering additional capabilities at a cost of $129 per month or $409 per year. It includes access to six workspaces, which can be used simultaneously, as well as the ability to set up to 250 alerts that last for 90 days. Users can also view up to 250 results per search. The plan includes access to five trading bots, allowing for further automation of trading strategies.
Since the Advanced plan does not offer any new features compared to the Elite plan and has a higher price tag, it is best suited for high-volume active traders who trade full-time.
Is TrendSpider Worth it?
From our perspective, the motto at the foundation of TrendSpider “built for traders, by traders” holds up. Whether you’re a beginning trader looking for the essentials to start your technical analysis trading journey, and the education materials to go along with it . Or you’re an advanced trader looking to leverage the powers of AI and automation into your strategies. The user-centric, highly robust Trend Spider platform could be exactly what you’ve been looking for. Click here to check out TrendSpider today!
If you’re looking for other options be sure to check out our reviews on two TrendSpider competitors: Trade Ideasand SpeedTrader.
You may be interested in: Computer Alert Systems: All You Need to Know