Compared to other software, TrendSpider is relatively lightweight on charting. These browser-based charts offer just three bar types and intraday minute, daily, and weekly charts. Where it stands out is in the customizable overlay. Users can overlay their charts with several popular indicators, which can be toggled on/off at will.
Automated Trendline Analysis
TrendSpider automated trend line analysis is the platform’s core feature. Users have full control over how aggressive the algorithm is. When the automation sequence runs, it’s extremely effective when spotting more difficult trend lines.
Although most users should stick to the highest confidence trend lines, more advanced traders may want to add additional trend lines to try to find gaps in the market to exploit.
Multi Timeframe Analysis
Multi-timeframe analysis is another core feature of TrendSpider. This feature enables you to add technical indicators and your chosen trend lines to a secondary time frame on one chart. Other software options typically require you to work with multiple charts if you want to see this data.
Simply refresh your chart in real-time to add the latest market data and see how your analysis changes.
Automated Fibonacci Retracements
Advanced traders will want to take advantage of automated Fibonacci retracements. When using this feature, traders can automatically find important inflection points. These are based on Fibonacci retracements.
The reason why this is so powerful is that it’s an extremely difficult process to carry out manually. Identifying both support and resistance zones with this automated feature can supercharge your analysis.
Reviews on TrendSpider often praise the fees charged by the platform. We believe that multiple price points combined with the seven-day free trial allow users to try out the platform and find the features that are most valuable to them.
Let’s take a look at the three TrendSpider subscriptions available now.
Premium ($39/month $336/year) – Includes all automated analysis features but no alert functions. Stock data is delayed by 15 minutes, thus making this ideal for longer-term investors.
Elite ($69/month $663/year) – The elite level adds real-time streaming data and provides you with up to 15 price alerts at the same time. Also includes support and training options.
Master ($119/month $989/year) – Master level TrendSpider includes OTC US stock data, pre-market, and after-hours price data. Users on this plan can have 25 different active alerts at the same time.
Got questions about the TrendSpider platform? We answer some of the most common questions investors have.
Who is TrendSpider Best For?
TrendSpider can be used by longer-term investors, but since real-time data is the core of this platform it’s chiefly designed for the day trader and the swing trader.
How Do I Learn How to Use the Platform?
There is quite a steep learning curve, according to most reviews on TrendSpider. The platform responded to this by including in-depth blog posts and video guides to help you learn the features.
Can I Make Trades with TrendSpider?
No. Brokerage connections are not currently supported, so you’ll need to use a separate brokerage platform to place your trades.
Is TrendSpider Right for You?
Our TrendSpider review believes this is a solid technical analysis platform that takes advantage of the latest in technology. Its machine learning algorithm works, and dramatically cuts down on the amount of time it takes to perform your analysis.
While newbies may find it difficult to take full advantage of the tools available, its learning center offers everything you need to learn how everything works.
Overall, we believe TrendSpider is a solid tool to add to your trading strategy.
Check out TrendSpiders and sign up for a seven-day free trial.
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