TrendSpider Review 2023: A Powerful Technical Analysis Tool

Are you looking for technical analysis software that can help you take your portfolio to the next level?

TrendSpider just might be what you need.

TrendSpider is a charting and technical analysis platform that gives you unparalleled access to market data and trading automation tools. But, is TrendSpider really all that it’s cracked up to be?

In this TrendSpider review, we’ll take a closer look at what the company has to offer. We’ll discuss the features, pros, and cons associated with the software so you can decide if it’s the right choice for your needs.

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What Is TrendSpider?

TrendSpider is a software company that offers high-end technical analysis tools for experienced investors. The company was founded in 2016 by Dan Ushman and Rus Lagutin to help advanced traders improve the efficiency of their technical analysis.

With TrendSpider, inventors can access a slew of technical analysis tools such as charts, alerts, and stock scanners. What sets TrendSpider apart from the pack, however, is that it offers features that help you automate your analysis so you can be faster and more precise with your trading decisions.

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How Does TrendSpider Work?

Like most other technical analysis tools, TrendSpider operates on a subscription-based model. If you want to use the platform, you need to head to the TrendSpider website and click the button to start a free trial.

From here, TrendSpider lets you choose your subscription package before you enter your personal details. You’ll also have to enter your payment information, but your card won’t be charged until your seven-day free trial is complete.

After you make an account, you’ll get access to all of the features that come with your subscription. You can start making charts and doing market research on the company’s web-based platform or you can download TrendSpider’s mobile app to do your technical analysis on the go.

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TrendSpider Features

TrendSpider is a feature-packed platform for advanced traders. Here are some of the features that you can look forward to if you make an account.

Market Data Feeds

To help you stay on top of the latest movements in the financial world, TrendSpider provides investors with market data feeds.

The market data that’s available to you will depend on your subscription package. All subscribers can access real-time data on US stocks, ETFs, currency pairs, and digital assets. Everyone also gets delayed OTC/pink-sheet stock data and after-hours/pre-market data.

But only Advanced and Elite subscribers get indices and futures market data, both of which are delayed, rather than real-time, quotes.

Charting Tools

Like any good technical analysis software, TrendSpider comes with extensive charting tools.

Every subscriber can access TrendSpider’s standard charts, which include manual drawing tools, hundreds of indicators, and Fibonacci sequences.

The only subscription-based difference between the charting features on TrendSpider is that Premium account holders don’t get access to automated anchoring tools. Other than that, all account holders get the same indicators and chart views on TrendSpider.

Raindrop Charts

Raindrop Charts are a proprietary tool from TrendSpider that presents a wide range of technical data into a single simple, yet powerful, chart.

With Raindrop Charts, you can view price action and volume charts at the same time. But instead of viewing classic candles and volume charts separately, Raindrop Charts show you “raindrops,” which is a visualization of both the price action and volume of an asset in a selected time period. 

As a result, these raindrops show you a volume-weighted average price of an asset over time, which gives you better information about the strength behind market movements. This provides you with cutting-edge information that can help you make faster decisions about your next trade.

What is a Raindrop Chart?

Automated Analysis

One of TrendSpider’s innovative features is its automated analysis tools. Anyone using the platform can create customized chart automations that alert you whenever TrendSpider recognizes specific market patterns or price trends. This helps you save time on your analysis and it minimizes the chance that you’ll miss a breakout.

In addition to automated chart analysis, TrendSpider offers another cool automated feature called Smart Checklists.

When you use Smart Checklists, you can determine which indicators, price movements, and technical conditions you’re interested in for a specific asset and TrendSpider will generate an easy-to-read checklist that shows you whether an asset meets your criteria. This saves you time and reduces analysis error so you can focus more on bigger market movements.

Multi-Timeframe Analysis

TrendSpider’s multi-timeframe analysis tool lets you assess trendlines and indicators across multiple chart time frames.

How it works is simple: When you use TrendSpider’s charts for a specific asset, the platform automatically analyzes that chart across a variety of timeframes in intervals starting at one minute and ending at one month. These analyses are performed simultaneously and behind the scenes so you can plot indicators and trendlines with ease.

Then, when you want to see your charts on a different timeframe, you simply need to press the Multi-Timeframe Analysis on your screen. Doing so will prompt TrendSpider to show you how your indicators compare across timeframes so you don’t have to spend time manually comparing these trends.

Asset Insights

In addition to its slew of technical data, TrendSpider also provides you with Asset Insights, which includes fundamental and non-technical data to help guide your long-term trading decisions.

These Asset insights encompass things like Benzinga News headlines, earnings data, analyst recommendations, and information about stock splits. All of this information is presented on your charting interface so you can get technical and fundamental data side-by-side.

That said, some Asset Insights features aren’t available with a Premium subscription. In particular, Premium subscribers only get Benzinga News, earnings data, and dividends data. You need an Elite or Advanced subscription for all other Asset Insights, including analyst ratings.

Unusual Options

Unusual Options is a market tracking tool that helps you stay on top of big activity in options markets.

The concept behind this tool is that it shows you large active bets or hedges from big players on the market. These sorts of big short or long calls can have a major impact on price movements but they can be difficult to analyze in a short period of time.

With Unusual Options, you can easily visualize these large directional bets by integrating them into your charts. That way, you can use them to plan your investment strategy so that you can better time your own trades.

Market Scanner

To help you easily find new trading opportunities, TrendSpider comes with a unique tool called Market Scanner. 

This tool lets you use technical indicators to scan various markets over select periods of time to help you identify new winning investments. The company gives you access to 20 pre-built scanners, such as a MACD Cross Scanner, or you can create your own.

All TrendSpider account holders can use the company’s scanners, but the precision of these scanners depends on your subscription plan. While Advanced and Elite subscribers can scan data at one minute intervals, Premium subscribers can only scan data at one hour intervals.

Backtesting

Backtesting is a nifty feature from TrendSpider that helps you assess how well your new trading strategies would have performed in the past. The idea behind this feature is that, while you can’t necessarily predict the future, you can use the past to inform your future trading decisions. 

With TrendSpider, you can create chart-based trading strategies to automate your trades based on technical indicators, chart patterns, volume, or price action. You can then test how well your strategy would’ve worked in the past using the platform’s more than 20 years of historical market data.

However, TrendSpider’s backtesting feature is only available for Elite and Advanced subscribers.

Alerts

All TrendSpider subscribers get access to the firm’s Dynamic Alerts feature. With this feature, you can quickly and easily set up trading alerts that meet your specific criteria without the need to write a single line of code.

Unlike other charting tools that only let you set alerts based on price action, TrendSpider also lets you create alerts based on chart patterns and technical indicators.

But, keep in mind that each subscription tier comes with different access to alerts. Premium subscribers get only 25 alerts that expire after 14 days while Elite subscribers get 100 alerts that expire after 30 days. Alternatively, Advanced plan members get 250 alerts that expire after 90 days.

TrendSpider TV

TrendSpider TV is the company’s proprietary video channel. On the channel, you can find videos from the company and its team of market experts to help improve your personal trading strategy.

The company’s videos cover a wide range of topics, though most focus on tips and tricks for advanced trading techniques, reviewing charts, or handling uncertainty in the financial markets. TrendSpider also often hosts live videos on TrendSpider TV so you can interact with the broader investing community and get timely insights to fine-tune your trading strategy.

Educational Resources

Everyone that subscribes to TrendSpider can use the company’s large collection of educational resources, like its blogs, how-to guides, and tutorials. The firm also offers a feature called TrendSpider University, which is a comprehensive guide to all of the tools on the platform.  

New subscribers can also get one-on-one training sessions with a TrendSpider team member to kick-start their trading experience. Premium account holders get one session while Advanced and Elite subscribers get unlimited training.

Mobile App

In addition to the company’s web-based technical analysis platform, TrendSpider also offers a mobile app for on-the-go market updates.

This app is available for both iOS and Android devices. It’s designed as a companion app to the web-based TrendSpider platform, so it doesn’t offer all of the firm’s features. However, the company’s apps are highly rated for user-friendliness and they provide you with real-time market data, basic charting tools, and access to all of your pre-set alerts.

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TrendSpider Pricing & Fees

TrendSpider operates on a subscription-based model, so anyone that wants to use the company’s services needs to sign up for a paid plan. Here’s a look at the pricing options for different TrendSpider subscriptions.

Premium

TrendSpider’s Premium plan offers basic access to the platform. It costs $44 per month if you pay monthly ($528 per year) or $36.67 per month if you pay annually ($440 annual payment).

Premium comes with basic charting and analysis features, such as indicators, manual drawing, raindrop charts, and Fibonacci sequences. You can also access most automated analysis tools.

However, Premium only lets you use two workspaces at once and you can only have 25 active alerts that expire after 14 days. The Premium plan also doesn’t come with backtesting or most asset insight features, like analyst ratings data. But, it’s a solid choice if you’re looking for a more affordable way to use TrendSpider’s core features.

Elite

A TrendSpider Elite plan lets you use most of the platform’s more advanced features. It costs $87 per month if you pay monthly ($1,044 annually) or $72.50 per month if you pay annually ($870 annual payment).

With an Elite plan, you get access to all of the tools that come with Premium, plus up to four workspaces and 100 alerts that expire after 30 days. You also get all of the benefits that don’t come with Premium, such as backtesting, unlimited training sessions, and phone-based customer support.

Advanced

Advanced is TrendSpider’s subscription package for high-volume traders. It costs $131 per month ($1,572 annually) if you pay monthly or $109.17 per month if you pay annually ($1,310 annual payment).

TrendSpider advanced doesn’t come with any extra tools or features beyond what you get with the firm’s Elite subscription. However, it offers substantially more in terms of the charting and analysis limits that are placed on your account.

For example, with Advanced, you get access to six simultaneous workspaces, 250 alerts that expire after 90 days, and precise scanning tools with a one-minute minimum scanner timeframe and up to 250 results per scan. As a result, Advanced is best for active traders that need to be able to process large amounts of data at once.

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TrendSpider Security

TrendSpider is a well-established and reputable company that offers technical analysis tools on its secure and encrypted website.

However, the company simply provides a charting and analysis platform. There isn’t currently an option to link your brokerage or crypto exchange accounts to TrendSpider, so the firm never has any access to your money or assets. 

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TrendSpider Customer Support

If you ever have a problem with your TrendSpider account, you can get answers to most common questions on the company’s online help pages or at TrendSpider University.

Additionally, all subscribers can contact TrendSpider’s customer support team by email or through live chat. Elite and Advanced subscribers also get access to phone support and priority support services.

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TrendSpider Pros

• One of the most advanced technical analysis platforms available
• Comprehensive and customizable charting tools
• Ability to automate your technical analysis
• Very advanced alert tools to help you stay ahead of the markets
• Includes one-on-one user training sessions
• Phone, email, and live chat customer support available
• Comes with proprietary tools like Raindrop Charts
• Unusual Options lets you visualize major options trading activity
• Backtesting tools available to help you test trading strategies

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TrendSpider Cons

• Subscription plans are expensive
• Some market data isn’t real-time
• No option to link your brokerage or exchange accounts
• Too complex for new or intermediate investors
• Mobile app is fairly limited
• Relatively limited research tools for fundamental analysis

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TrendSpider Alternatives

Not convinced that TrendSpider is right for you? Here are two TrendSpider alternatives to check out instead:

TrendSpider vs. TradingView

TradingView is one of the world’s most popular charting and market analysis tools. It’s a subscription-based service that’s available as a web-based platform or on a mobile and desktop app.

With TradingView, you can set up customizable charts and create price alerts. You can also research financial information about different assets and screen for new investment ideas. TradingView also has a built-in social community and support for in-platform trading through brokerage and crypto exchange integrations.

The downside is that TradingView’s technical analysis tools aren’t as advanced as TrendSpider’s. But, TradingView offers a limited free subscription and its paid plans are substantially more affordable, making it a good choice for new traders or anyone that’s looking to keep costs as low as possible. Read our full TradingView review to learn more.

TrendSpider vs. Trade Ideas

Trade Ideas is another industry-leading stock screener and charting platform. It’s specifically designed for more advanced investors who need high-end technical analysis tools and access to one a powerful stock screener.

When compared to TrendSpider, Trade Ideas’ biggest advantages are its brokerage integrations and built-in trading tools. With Trade Ideas, you can place trades directly from your price charts and even create automated trading strategies. The company also has an AI-powered market analyst tool to help you identify good entry and exit points.

However, Trade Ideas is more expensive than TrendSpider and many of its trading features are only available if you use one of the company’s few supported brokerages. But if you want one platform for both technical analysis and trading, Trade Ideas is worth considering. Read our full Trade Ideas review to learn more.

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Who Is TrendSpider For?

TrendSpider is for the advanced trader who wants access to cutting-edge technical analysis and charting tools that you can’t get anywhere else.

What makes TrendSpider unique is its comprehensive collection of charts, indicators, alerts, and data, all of which are accessible via a sleek interface. The company also makes analysis as convenient as possible through its automated tools and chart-based features, which eliminate the need for coding so you can focus more on trading.

That said, TrendSpider is upfront about the fact that there’s a learning curve involved with its services and the advanced nature of the platform means that it’s not great for beginners. It’s also fairly expensive for a charting tool and doesn’t come with any portfolio management or brokerage integration features.

But if you’re an experienced investor that wants to streamline and automate their trading strategy, TrendSpider is well worth considering.

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TrendSpider FAQs

Here are our answers to some of your most commonly asked questions about TrendSpider.

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Final Thoughts

TrendSpider is one of the most powerful technical analysis tools on the market. The platform comes with a slew of superb features that make it easier for you to fine-tune and automate your investing strategies so you can maximize each trading day.

That said, TrendSpider leaves us wanting as far as affordability and user-friendliness are concerned. The platform’s lack of brokerage integrations is also a bummer if you want to trade from your charting software. But if you’re an experienced investor that’s serious about technical analysis, you’ll be hard-pressed to find a better research tool than TrendSpider.