Trendspider

TrendSpider is an all-in-one competitive solution for traders. Its main focus is on technical analysis and developing strategies to get the best results.

About TrendSpider

In 2016, TrendSpider was founded by David Ushman. He and his team were frustrated with the inefficiencies and inaccuracies of the results. Therefore, they started a mission to develop a charting platform that covered every issue faced by traders.

TrendSpider has a global presence with operations in countries like the US, Russia, Chicago, India, Denver as well as Ukraine. It is totally a customizable platform that gives the users complete control. Using this software gives investors an edge to make better strategic decisions.

Features of TrendSpider

TrendSpider has automated trading bots as well as all the basic data retrieval systems. It is a web-based platform, thus people who like navigating on big screens might like it.

Along with some basic features like data, backtesting, and scanning, you will also find advanced features like Trading Bots and Chart Scripting.

- Chart Scripting

When the built-in charts are insufficient, users can customize the charts on their own. They can create any pattern and indicator to get the most detailed and easy-to-understand analysis.

You can also use it in integration with BackTesting(discussed below) to get an even better trading analysis and a unique charting method.

- Trading Bots

Trading Bots are very useful in trading. Beginners can create bots and use them to send an alert whenever a strategy enters or exits. Later the user can go to the broker and execute it.

These trading bots can also send URLs through webhooks. Most of the big brokerage firms like TD, Interactive Brokers, etc, permit such bots.

- News and Watchlists

Watchlists allow users to check the market price of stocks along with their movement in different segments. Such watchlists are mostly pre-built. But a trader has the option to customize them too.

When you pair the watchlists with live news feed from third parties like Benzinga, you can stay updated with whatever live action is happening.

- Data

TrendSpider provides access to a hefty amount of data. It can be of mutual funds, ETFs, shares, stocks, future options, and more. None of this data will be given free of cost. You need to take a paid plan or pay some extra fee.

Apart from this, you can get data related to analysts' estimates, dark pool volume, dividends, earnings, market breadth, and splits. All in context to the US.

- Backtesting

Backtesting is an interesting feature of TrendSpider. It allows the traders to see every historical performance. It is a no-code feature, which means all the sophisticated strategies made will be without editing any underlying code.

In simple words, traders can see the previous strategies and their outcomes and create new ones based on them. Users with no knowledge of coding find it powerful and useful.

- Scanning

With the Scanning feature, you can search for any trading opportunity based on your criteria. Each plan of TrendSpider offers a different number of scans. Therefore, if you want more scans, you have to keep upgrading._For example: _

If you want to see the stocks that finished 2% and up, then you can start a scan. Once done you will get a list of all good stocks on the right. You can then click on any individual stock to get more information using charts and metrics.

Pricing Plans of TrendSpider

If you haven’t used TrendSpider before then you must know that they provide a seven days trial for free. In addition to 7 days, you can email them to extend some trial days. They have 3 paid plans too.

• Essential

_Monthly Price $32

Yearly Price $384_

The features of the Essential plan are very much limited. You get only 25 scans and two simultaneous tabs. The biggest flaw with 2 workspaces is that the interface is cluttered, which creates difficulties.

This plan also misses social sentiment and data related to insider trading. You also do not get alerts, notifications, or trading bots. These three are the most important aspects of a trading platform. And that is why most people feel the Essential Plan is unnecessary and expensive.

• Elite

_Monthly Price $65

Yearly Price $780_

With Elite Plan of TrendSpider, you get 4 workspaces, multi-alerts as well as 6 trading bots. You also get access to 100 scans and much more features than the Essential Tier. Most users prefer the Elite plan because of its price and feature ratio.

Compared to the Elite Plus Plan, it has got fewer features, but also fewer complexities. If any of your trading strategies turn backwards, then you can get access to priority-based support options.

• Elite Plus

_Monthly Price $135

Yearly Price $1,620_

All the shortcomings of the Elite plan are covered in the Elite Plus. You get 50 trading bots and

no limit on scanning results. Its Backtesting depth is also the largest. And if you want, there is an option to enroll in 1-on-1 training.

Though the features are more, the cost is equally high. Therefore, professional traders are more attracted to this tier. They have used the platform to develop some really competitive trading strategies.

TrendSpider is a very resourceful platform. It provides benefits like:

• Coverage of a wide range of investments.

• Many advanced charting metrics.

• Very advanced features (You must have already read above!)

• Documentation is easier.

• Educational features and videos.

Review

There are some drawbacks of TrendSpider, like interface issues, high cost, and less integration. Despite this the positives, like advanced charting features and strong customizations make up for it. All the advanced features make it appropriate for professional traders.

Newer Traders might have complexities, but the 7-day free trial option, can offer them clarity. Paid versions are also great. If someone feels the need to cancel, they can do it anytime.

TrendSpider is a good option if traders are outrightly looking for a platform that is more focused on technical analysis of stocks.