TrendSpider Review

TrendSpider Charting Software Review 2024

In this TrendSpider review, we will discuss why this charting platform is the future of technical analysis. The future of charting for “retail” traders is here! It doesn’t matter if you’re trading stocks, cryptocurrency, futures, or Forex. TrendSpider has your back. 

Here is a great discount exclusive for our members. Bullish Bears members get to use code BULLBEAR20, which is valid for 20% off any plan for a year. The coupon applies to the first 12 months of service; renewals after 12 months are at normal prices. It’s a great deal for a platform this jam-packed with usefulness! You can read our TrendSpider review below to learn more.

Why all the cheering, you ask? First, the automated, computer-generated drawing of trend lines will allow the beginner or advanced trader to identify support and resistance faster.

Secondly, the charting tool helps you more effectively time entries and exits into trades. Thirdly, it makes trading simpler and easier, and it’s the best multi-timeframe analysis tool on the market. Fourth, you get dynamic alerts – that means being alerted when a stock hits a moving average!

In today’s busy world, a tool like TrendSpider is much appreciated. And out of the box, it’s programmed very well. Like anything, it can be tuned to your trading style, so play around with it and experiment and see what results you get.

Truly, if you’ve been trading long enough, you’ve realized that trading is all about finding your edge. With TrendSpider, you’ll have an edge over other traders who are not using algorithms for trading. 

Makes Trading Easier

You know the old saying of aim small, miss small. Subsequently, being off on a trend line by even a small amount can determine whether your entry or exit is profitable.

It’s sometimes the difference between a win and a loss! They are one of the best stock trading companies on the market.

It does exactly what it’s programmed to do. And out of the box, it’s programmed very well. Like anything, it can be tuned to your trading style, so play around with it and experiment and see what results you get.

TrendSpider AI Review

Therefore, there are a million reasons at any one point where you might make a mistake with your charting or an occasional error when setting your alerts using your ThinkorSwim broker.

Here’s the thing about machines. They do what they are programmed to do. TrendSpider uses math with a level of consistency not possible by human traders.

Hence, computers that trade, otherwise known as high-frequency trading (HFT) computers, are widely used today. Some of these HFT computers use a degree of the technology that TrendSpider brings to you at a fraction of the cost.

TrendSpider Trendlines

Multi-Time Frame Analysis

As a rule, the best way to figure out how to use Trend Spider is to dive in and start playing with it. The main feature and curb appeal is the multi-time frame analysis.

Below is an example of comparing a daily and weekly chart. You can split your screen into four separate charts. This means two-time frames per chart window for eight-time frames!

To begin with, comparing two-time frames simultaneously saves time and adds confidence to your analysis. Also, it adds accuracy to your trading plan.

As a result, trading your daily swing trade setup becomes much easier when you know there is “room to run” according to the weekly charts’ trend lines and where different time frame moving averages lurk on your shorter time frame charts.

TrendSpider CMG Chart

Trendspider Example

Here is an example of a TrendSpider chart of $CMG. Note the daily trend lines are highlighted solid. The weekly trend lines are dotted to make them distinguishable.

Comparing the two and setting alerts for when a candlestick touches the trend line you are eyeballing is the name of the game. Check out a list of the top trading companies

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DESCRIPTION Learn how to read penny stock charts, premarket preparation, target buy and sell zones, scan for stocks to trade, and get ready for live day trading action
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Automated Fibonacci Retracements

Another key feature is automatic Fibonacci retracements. This is another great time saver that uses the proper analysis for your viewing time frame.

I generally use Fibonacci retracements for both day trading and swing trading. Their mechanical levels of support and resistance act as magnets for price. You can also now manually draw Fibonacci levels.

Consequently, I have found that automation is superior because there is no guesswork on what peak or low to draw the fib lines to. The platform does it for you, removing all the bias and potential errors. 

Weekly Fibonacci Retracement of CMG

Weekly Fibonacci retracement of $CMG

Automatic Pattern Detection

By the way, as you guys may already know, we are big candlestick pattern traders. Generally, we are often discussing candlestick patterns on our live streams. We even created an entire free candlestick course for traders to learn this very important part of trading.

Additionally, we love TrendSpider is ability to recognize over 50 candlestick patterns (and counting).

To use this feature, click and select which candlestick pattern you are looking for, and it will be highlighted so you can easily find it on the chart. Check out our stock trading tools page.

TrendSpider Swing Trading

Day Trading Made Easy

Above, we have shown how TrendSpider works for swing trading, but using TrendSpider for day trading strategies is also fantastic. Next, take a look at the $SPY chart below.

For example, you can see how using a 5-minute time frame against the daily time frame chart allowed for a couple of good long and short entries. I am constantly looking at daily levels of support and resistance to intra-day trade. 

Day Trading

Another key point of this TrendSpider review is to talk about the trade alerts. Right-click a trend line, and it will bring up some interesting choices. You can set the alert to email and text when a trend line is hit or even set alerts for moving averages.

That way, the Trend Spider platform is always watching and ready to alert you to the perfect entry or exit on your trade.

Likewise, you can set it for breakthrough, touch, or bounce, AND on a specific time frame candle. (Usually, we select all 3 for the alert choices, so it’s foolproof)

TrendSpider Alerts Review

For example, it might be an hourly or daily chart you are watching, but if a FIVE-minute candle touches your trend line, you’ll get the Alert.

Also, you can adjust the sensitivity of the trade alert. So if it gets within, say, .10 cents of your trend line, you’ll get the Alert (sometimes nice to get an early warning!).

Fill in the Alert name and the description, and don’t forget to set the duration for how long you want the alert active (from 1 to 30 days)

TrrendSpider Alerts

Multi Factor Alerts

So, if you’ve been a trader long enough, you realize that successful trades happen when a confluence of factors occurs. Well, within the TrendSpider platform, we now have multi-factor alerts. These allow you to customize a few criteria for your alert to fire off.

First, go to the alert section of TS and select the + sign to create the alert. Secondly, you can select your conditions. This is where you can use the alert system to mirror your trading style.

Do you want an alert when daily RSI is oversold, a 5-minute candle forms a tweezer bottom, and an hourly candle forms off the 8 SMA Daily? Within .15 cents? You can do that! It doesn’t matter if you’d like to be alerted when the price is over a moving average on your favorite forex chart; this system has you covered.

TrendSpider Scanners Review

TrendSpider’s market scanner allows you to use premade scanning settings or build your own to find the specific patterns and plays you love.

Please take a look at the example below. I scanned for Alligator bearish setups, and the two symbols populated to the lower right. Clicking on them raises the chart and allows you to set alerts on VERY specific criteria for YOUR style to trade. Be sure to check this out!

TrendSpider Alligator Bearish Setup

Rain Drop Candles

What are Raindrop candles, you might ask? TrendSpider invented a human-friendly volume profile candle chart that helps traders focus on actual market sentiment rather than just abstract prices.

Raindrop Charts are a new kind of financial chart that abstracts away arbitrary constructs, such as open and close prices and focuses on changes in market sentiment. Rather than conveying price changes, Raindrop Charts incorporate volume to validate price movements and provide deeper insights.

This is what makes it a powerful alternative to traditional candlestick charts that focus exclusively on price and require additional overlays to analyze volume. This concept makes it very different and, like everything TrendSpider does..makes it easier!

TrendSpider Raindrop Charts

In a Raindrop Chart, each bar, known as a Raindrop, covers a fixed period and consists of the high, low, and left and right means.

The left mean is the mean price, weighted by volume, for the first half of the period, and the right mean is the mean price, weighted by volume, for the second half of the period.

Final Thoughts: TrendSpider Review

Just when you thought it couldn’t get any better…it did. Trendspider now has a “market scanner” that will find a combination of stock patterns and indicators for traders to locate the exact setup they prefer to trade in less time.

Want a bullish candlestick setup with oversold levels and above the 200 DMA? You can do that! 

Want to get creative? Scan for multiple things on multiple time frame charts! So, scan for an hourly bull flag and a daily hammer stick. You can get creative here. So get started and start playing with this feature now!

Use code BULLBEAR20, valid for 20% off any plan for a year.

Frequently Asked Questions

TrendSpider is better than TradingView for traders that are looking for an advanced charting platform with artificial intelligence capabilities. TradingView is better for beginner traders that are looking for a basic charting platform. 

TrendSpider is an advanced charting platform which includes artificial intelligence, automated trendline capabilities, scanners, indicators, and backtesting strategies. 

TrendSpider has a page that offers free scanners, calculators and tools, however, their primary services are for paid customers.

TrendSpider is worth it for people who are advanced traders. They are also good for new traders that want automated trendlines to help them learn technical analysis.

Investors cannot purchase shares of TrendSpider because the company is privately held.
  • Essential - 7 days free, then $384.00 paid yearly. $35.00 per month
  • Elite - 7 days free, then $780.00 paid yearly. $65.00 per month
  • Elite Plus - 7 days free, then $1,620.00 paid yearly. $135.00 per mont

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