TrendSpider Review 2020: Auto Trends & Stock Chart Analysis

In-Depth Trendspider Review Tests TrendSpider's Backtesting, Trendline Detection & Auto Chart Analysis + TrendSpider vs. TradingView vs.MetaStock

TrendSpider Review
Overall
4.5
  • TrendSpider Pricing & Software
    (5)
  • Market Scanning
    (4)
  • Technical Analysis & Charting
    (4.5)
  • Pattern & Trendline Automation
    (5)
  • Innovation in Technical Analysis
    (5)
  • Backtesting
    (4)
  • Ease of Use
    (4)
User Comments Rating 4 (1 review)

Summary

TrendSpider saves you time performing technical analysis as it automates trendline and pattern recognition and analyzes multiple indicators & timeframes on the same stock chart. There is no live trading, news or fundamental screening. But for automated smart chart analysis for Stocks, Crypto and Forex it’s the best.

Pros

  • Automated Trend Line Detection
  • Automatic Multi-Time-Frame Analysis
  • Simple & Powerful Backtesting
  • Real-time Exchange Data Included in Price
  • Automatic Fibonacci Trend Detection
  • Stocks, ETFs, Forex, Crypto, Indices & Futures
  • Auto Candlestick Recognition
  • AI Integrated Pattern Recognition
  • Excellent Charts & Indicator Selection

Cons

  • No Automated Robotic Trading (Coming Soon)
  • No Social Community

 

Try TrendSpider for  Free

TrendSpider Logo

Recommended for all traders wanting cutting edge AI, automated trendline & candlestick pattern recognition, + system backtesting, all at a great price.

Liberated Stock Trader Review Winner
TrendSpider: Review Winner For Innovation, AI & Automation

The new kid on the block, Trendspider, is doing something very different and innovative to separate itself from the crowded stock chart analysis software market.  It solves the problem of too much time spent doing analysis, drawing trendlines, tweaking indicators, and analyzing timeframes.

I am a huge fan and believe it has a bright future ahead.  We start with an overview of some of the exciting benefits.

TrendSpider Review Summary

TrendSpider saves you time performing technical analysis as it automates trendline and pattern recognition and analyzes multiple indicators & timeframes on the same stock chart. There is no live trading, news, or fundamental screening. But for automated intelligent chart analysis for Stocks, Crypto and Forex, it’s the best.

What is TrendSpider?

TrendSpider is a fast-growing company lead and founded by Dan Ushman.  The company was set up in 2016 with the mission to create a unique service that automates and improves the labor of technical analysis of stock charts. In 2018 I awarded TrendSpider and Dan Ushman an innovation award as this software is unlike anything I have seen before, employing artificial intelligence and massive mathematical compute power to detect trends not seen by merely looking at charts.

TrendSpider Pricing & Software ★★★★★

Trendspider is an HTML5 application, which means it works on any connected device, requires zero installation, zero data stream, or data download configuration.

TrendSpider Review - Most Innovative Stock Analysis Automation
TrendSpider: Most Innovative Stock Analysis Automation

This appeals to me a lot because, with a single click, you are up and running.  Also, considering the complexity of the automatic calculations, the application runs swiftly, taking just a few seconds to complete an entire analysis.

TrendSpider has an excellent price point starting at $11 per month, which includes real-time data.  They have also expanded to cover Forex, Crypto, ETFs, and Futures, which means you can apply the stunning Auto Trend-lines and Multi Time-Frame Analysis on many different markets.

The platform needs zero installation and zero data feed configuration.  The system runs on all platforms, from smartphones to PCs.  Finally, I have tested the customer support and confirm it is excellent, and you have a human to chat with whenever you like.

StandardPremiumEliteMaster
$11/month$33/month$57/month$97/month
Paid yearly: $132Paid yearly: $324Paid yearly: $564Paid yearly: $924
(save 21% by prepaying)(save 30% by prepaying)(save 32% by prepaying)(save 35% by prepaying)

TrendSpider Pricing: Yearly Prices

For me, the Elite Trade Plan is the best choice at $69 per month or $47 per month paid yearly. It has everything the PRO plan has and, in addition, includes after-hours and pre-market data, OTC, Forex, and Futures data.  Even more importantly, you get 75 Dynamic Alerts and Backtesting.  Backtesting is the hidden power in this software suite, and you will find out in the testing later in this article.

Considering you get real-time data, the pricing is very competitive, in fact, considerably lower than other charting software vendors.

TrendSpider Technical Analysis ★★★★★

Packed full of innovative technical analysis tools means that TrendSpider is catapulted to the top of this list.  If you are a serious market analyst, then TrendSpider will help you do the job quicker, with better quality, and help you not to miss an opportunity.

Automated trendline detection and plotting; this does a better job than a human can; using algorithms, the system can detect thousands of trends-lines and flag the most important ones with the highest backtested probability of success.

The multi-timeframe analysis, which means being able to view multiple timeframe charts on a single chart with the trendlines plotted automatically.  Another great feature is the advanced plotting of support and resistance lines into a subtlely integrated chart heatmap.

Finally, Raindrop Charts are a wholly unique and intuitive way to visualize volume profile or volume at price action.

Advanced Support & Resistance Lines

The one thing that blew me away here is that the TrendSpider team has found a really elegant way to take the masses of computed data and overlay it onto a single chart.

Using the drop-down selector “S/R Trends” enables a kind of heat map, which shows the hundreds of potential trendlines, and the darker red the area, the more touches and concentration of trendlines there are.  See the chart below for reference.

Automated Support and Resistance Lines with TrendSpider
Automated Support and Resistance Lines with TrendSpider

Automated Trendline Detection

The automated trendline detection saves a lot of time for traders, speeds up trade preparation in the morning, and improves accuracy.  The TrendSpider algorithm uses mathematics to correlate all the bars on a chart and then draw the lines.  It highlights the touches at peaks and troughs in a price trend.

As a technical analyst, this is how you are supposed to do it; the more times a price touches the trend line and reverses, the stronger the trend.  Therefore, if a price breaks through a strong area of support and resistance, it is more predictive.

If you do not like a trend that the AI has used, you can manually delete it or fine-tune it.  With this capability, you can have a complete trendline analysis on any chart in a few seconds.

Multi-Timeframe Chart Analysis

Here is where it gets even more interesting, the Multi-Timeframe Analysis can be used to super-impose trendlines or indicators from different timeframes onto a single chart.  It may seem a little complex at first, but when you get used to it, it makes a lot of sense.  Instead of continually switching timeframes and redrawing trendlines, it is simplý there.

It is not just for trendlines; you can use it with the array of 42 stock chart indicators to ensure you do not miss anything.  Dan Ushman, the company founder, uses it in his trading, especially with indicators like Bollinger Bands and with trendlines that help expose things other traders miss when they are focused on one timeframe or one indicator at a time.

One thing I also really like is the price indicator analysis; you can let the application plot, name, and highlight your Japanese Candlestick patterns of choice.  Want to find Evening Doji Stars, Hammers, or Engulfing Patterns?  Just turn on the pattern recognition; it is that easy.

How Does Automatic Trendline Detection work in TrendSpider?

User Guide: Introduction and Overview (Short Version 4min)

Multi-Timeframe Analysis and Auto Trendlines

To show the power of the software, I set up two charts.  The top pane showing the 60 minutes versus the daily chart, and in the bottom pane the daily versus the weekly chart for Netflix (Ticker: NFLX).  The first thing that grabbed my attention is that you can immediately see that the shorter-term trend for Netflix is an ascending triangle.  This is a continuation pattern, so we would expect the price to break out of the triangle upwards.  Trendspider nailed the trendlines perfectly on this.

Automated Trendlines with TrendSpider
Automated Trendlines with TrendSpider

While reviewing the lower pane, you can see the trend for the last year, and Netflix is still in a solid uptrend on both the daily and weekly timeframes, four timeframes compared in seconds.

Japanese Candlestick Pattern Recognition

As I mentioned previously, Trendspider is designed to do the hard work for you; if you want to use candlesticks correctly, you need to know a few things.

  1. Learn hundreds of single and multiple candlestick formations.
  2. Understand if they are bullish or bearish.
  3. Learn for how many bars they are valid.

Learning this can take years, or you can simply use Automatic Candlestick recognition.

TrendSpider Japanese Candlestick Auto-Pattern Recognition
TrendSpider Japanese Candlestick Auto-Pattern Recognition

Here I have selected a Candlestick chart, then:

  1. Clicked Patterns
  2. Search for Hammer, select Hammer and Inverted Hammer
  3. Search for Doji and select Doji, Doji Star, and Evening Doji Star

These are enough to start with and are very powerful Candlestick reversal signs.  On the chart, you can see the annotated Candlestick Pattern DJ for Doji, etc.

Now you do not need to spend months learning every pattern, nor do you need to spend hours on a chart trying to locate the patterns; it is all seamlessly done for you.

Dynamic Price Alerts

Dynamic price alerts on indicators and trendlines free you up from the need of staring at charts waiting for them to set up and help you avoid emotional traps like trading out of boredom, rather than choosing the exact time to trade.  The alarms can be configured on indicator or trendline breakthroughs, bounces, or touches on any timeframe.  The trade alarms can be sent to email or SMS for your phone.

Trendspider Backtesting ★★★★✩

TrendSpider has fully automated AI-driven trend-lines, Fibonacci & Multi-timeframe analysis on stocks, Forex, Crypto & Futures.  Add to that a robust backtesting engine and you have a great technical analysis platform.

TrendSpider takes a different approach to backtesting.  Because the platform is built from the ground up to be able to automatically detect trendlines and Fibonacci patterns, it already has an element of backtesting built into the heart of the code.

The highest probability trendlines are automatically flagged, and you can adjust the sensitivity of the algorithm that controls the detection, so show more or fewer lines.

Adding to this, they have implemented a strategy tester that allows you to freely type what you want to test, and it will do the coding for you.  It is a slick and simple implementation which had me up and running in minutes.  One of the elements I really like is the ability to adjust your backtest conditions on the fly, and the “Price Behaviour Explorer” and “System Performance Chart” automatically update.   You can jump into coding if you want to, but the key here is that you do not HAVE to.

TrendSpider BackTesting Entry & Exit Point Chart
TrendSpider BackTesting Entry & Exit Point Chart

Integrated backtesting of automated trendlines, showing win-rate, profitability, and drawdown is a new addition and warmly welcome, the team is finally propelling TrendSpider into one of the leading technical analysis packages in the industry.

Adding to this, they have implemented a strategy tester that allows you to type what you want to test freely, and it will do the coding for you.

TrendSpider Price Behavior Explorer System Backtesting
TrendSpider Price Behavior Explorer System Backtesting

It is a smooth and straightforward implementation that had me up and running in minutes.  One of the elements I like is the ability to adjust your backtest conditions on the fly, and the “Price Behaviour Explorer” and “System Performance Chart” automatically update.   You can jump into coding if you want to, but the key here is that you do not HAVE to.

TrendSpider Backtesting Video

User Guide In depth Strategy Tester Guide

Ichimoku Cloud Analysis

It seems like every few weeks, the TrendSpider team is releasing new functionality, and the latest is the Ichimoku Cloud indicator.  As a certified technical analyst, I have studied and like Ichimoku, and so was interested in testing out how effective and profitable it is when backtested.

In the chart below, you can see Ichimoku in action, I have plotted it on a weekly chart, but I am also using the multi-time-frame analysis to overlay the monthly data simultaneously.

TrendSpider Ichimoku Backtesting Chart & Performance
TrendSpider Ichimoku Backtesting Chart & Performance

This backtest on NVIDIA (Ticker: NVDA) ran in under 1 second for five years of data ranging back to January 2014.  The timing was good as the system entry point came in January 2015 and exited as the significant market correction was underway in November 2018.  This secured a 756% win over the 4.5 years.

I also like the way that you can instantly see the performance of the system versus a Buy & Hold strategy.  In this instance, simply holding the stock over the entire period would have yielded 1,188%.   So, in the blink of an eye, you can see that for this stock, Ichimoku on a weekly chart would not have been the best system to use.

This is the beauty of backtesting, the fact that you can test multiple technical indicators on multiple timeframes and see which works best.

Here is how I implemented the TrendSpider Ichimoku backtest.

  1. Select Strategy Tester
  2. Entry Condition: Weekly Price Close Greater than Weekly Ichimoku Senkou B
  3. Exit Condition: Weekly Price Close Less than Weekly Ichimoku Senkou B
TrendSpider Ichimoku Backtest Parameters
TrendSpider Ichimoku Backtest Parameters

With TrendSpider backtesting is a breeze.

TrendSpider Market Scanner ★★★★✩

TrendSpider is developing new features at breakneck speed, but this one is big. The latest innovation from the TrendSpider team is the “Market Scanner.”  This enables you not only to scan a specific stock but the entire market for stocks matching your technical criteria.  This is a significant step forward, combining AI trend detection and analysis with to ability to scan the whole stock market.

User Guide: Market Scanner Introduction

-

Open A TrendSpider Account Now & Get A Special Bonus

If you try Trendspider via the button above, simply contact us afterward, and we will send you our superb Stock Market Crash Detection Video Course & eBook worth $49- for Free.  This is a system you could implement into Trenspider.

-

TrendSpider Ease Of Use ★★★★✩

TrendSpider’s innovations mean you will need a little time to understand what they are telling you.  For example, seeing hourly, daily, weekly trend lines plotted on the same chart might be confusing at first, but after applying a little effort, you might find you cannot live without them—still an excellent score on usability.

TrendSpider vs. TradingView vs. MetaStock vs. TC2000

What are good alternatives for TrendSpider? If you trade outside the US markets, then TradingView or MetaStock are good choices. For real-time news and superior backtesting, MetaStock is the best choice. If you want broker integration and trading from charts, then TradingView and TC2000 are good options. But for stock chart analysis and automation, TrendSpider rules.

Charting Software ComparisonTrendSpiderTradingViewMetaStockTC2000
Free PlanXX
Pricing: Best Plan$97$50$99$90
ExchangesUSAGlobalGlobalUSA
Broker IntegrationXX
Fundamental ScreeningX
Social Trading CommunityXXX
Automated TrendlinesXXX
Multi Timeframe AnalysisXXX
CandleStick RecognitionX
Market Scanning
BacktestingX
Chart Indicators60+160+300+240+
News FeedXX
Real-Time News FeedXXX
Read ReviewRead ReviewRead ReviewRead Review
Visit TrendSpiderVisit TradingViewVisit MetaStockVisit TC2000

 

Trendspider Summary

We have focused on what is unique about Trendspider; it is designed for a specific purpose, taking the guesswork and painstaking hours of analysis away from traders.  But what do you not get?  Well, you do not get fundamental scanning & filtering, trading from charts, or broker integration.  There is no social aspect at the moment and no news service.  But it is not designed for these things; it is designed for fast, effective machine-driven technical analysis.

I see a bright future for TrendSpider, and for example, I expect soon to be able to see the analysis of how well any given indicator or price pattern works overall or for any given stock.  The study of the probability of a successful prediction would be a fantastic leap forward.

Try TrendSpider with a Free 7 Day TrialCompare TrendSpider

 

Full TrendSpider Features Data Sheet

VendorTrendSpider Logo
Pricing & Software
$ Monthly End of Day DataN/A
$ Monthly Real Time Data$24.75 -$37.25
Software Only FeeN/A
Customizable Data Feeds
Customer Service & EducationExcellent
PC
For MAC
Tablets Smartpones
Market Data CoverageU.S.A.
Data SpeedExcellent
Stocks
ETF
Mutual Funds
Options
Futures
Forex
Bonds
Trade Management
Broker Integration Stocks
Broker Integration Options
Place Trades from Charts
Live Position P&L
P&L Analysis
Fundamental Scanning & Screening
Real Time Scanning & Filtering
Fundamentals Scanning
Watch Lists with Fundamentals
Extended Economics Fundamentals (New)
Fundamental Screening Score
Technical Analysis Charts
Multiple Charts Per Desktop
Bar Line HLC Candlestick
Point & Figure
Equivolume
Others
Indicators
Bollinger Bands
Directional Movement
Ichimoku Cloud
MACD
Momentum
Money Flow
Moving Averages
Parabolic SAR
Rate of Change
Relative Strength / RSI
Stochastics
Custom Indicator DevelopmentComing soon
Volume
Total Number of Indicators42
Drawing Tools
Fibonacci Retracement
Fibonacci Time
Fibonacci Fan
Trend Lines
Text OverlayComing soon
PitchforkComing soon
Automated Alerts
Technical Analysis Score10
Social
News Feed
Real-Time News Feed
Economics & Deal News
Market CommentaryVia Blog
Community Chat
Systems & Backtesting
System Marketplace
Create Customizable Systems
Back Testing Point & Click
Back Testing Programmatic
Forecasting (new)Via Automated Trendlines
Robotic Trading (new)
Setup & Usability
SW Setup10/10
Ease of Use Score8/10
TrendSpider Stock Market Software - Data Sheet

3 COMMENTS

    • Hi Larry. If you want to trade derivative CFD then take a look at https://www.liberatedstocktrader.com/best-cfd-trading-platforms/. If you want to see the actual market prices on commodities the take a look at https://www.liberatedstocktrader.com/interactive-brokers-review/
      I hope this helps
      Barry

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Sending