Comparing Trendspider and Tradingview – Which is Better


Jeremy BiberdorfBy: Jeremy Biberdorf

November 27, 2023November 27, 2023

In the realm of chart analysis tools, both TradingView and TrendSpider stand out, each with its unique strengths.

As a certified market analyst actively using both platforms, I have a comprehensive understanding of their features, which allows me to offer a detailed comparison.

TradingView Overview

 TradingView Logo

TradingView is a versatile platform that excels in live trading, offering an active social community and providing access to global data.

It’s a comprehensive tool that scores a high 4.6/5.0, making it suitable for a broad range of trading activities. Its strengths lie in trading, social networking, news updates, and stock screening.

Additionally, TradingView’s affordability, with plans ranging from a free basic option to more advanced paid subscriptions, makes it accessible to a wide audience.

The platform is particularly useful for traders who value community interaction and global market insights. This Trading view review expands more on the platform. Click here to sign up for an account.

TrendSpider Overview

 Trendspider Logo

TrendSpider, on the other hand, specializes in AI-driven pattern recognition, which is particularly useful in multi-time frame analysis.

Scoring a slightly lower 4.4/5.0, TrendSpider’s unique selling point is its advanced AI capabilities, which automatically detect trends, Fibonacci levels, and candlestick patterns across multiple timeframes on a single chart. This TrendSpider review explains more about the platform.  

While it lacks a social community and news stream, TrendSpider is a leader in its niche, especially for users focused on AI-driven analysis.

Its pricing is higher, with no free plan available, but it includes all real-time data, making it a comprehensive choice for users who prioritize advanced AI features in chart analysis. Click here to sign up for an account using our cost-saving coupon code.

TradingView vs. TrendSpider Scanning

In the comparison between TradingView and TrendSpider for scanning and chart pattern recognition, each platform brings its unique strengths to the table, catering to different aspects of market analysis.

Scanning Capabilities

TradingView

It offers an integrated approach to screening, covering stock, forex, and crypto markets. The platform is not only capable of fundamental analysis but also excels in scanning based on price and volume indicators.

With its stock screener, TradingView provides an extensive array of 160 criteria, both fundamental and technical. This includes standard metrics like EPS, Quick Ratio, and PE Ratio, as well as more specialized ones such as the number of employees and enterprise value.

Its comprehensive and user-friendly approach makes it an excellent tool for investors and traders looking for a diverse range of screening options.

TrendSpider

TrendSpider’s focus is more on technical screening, utilizing AI to analyze price, volume, and indicators. It also includes the ability to screen based on analyst rating changes and earnings announcements.

Its Market Scanner feature allows for detailed scanning of individual stocks and the entire market, integrating AI trend detection for a more focused technical analysis. TrendSpider is particularly powerful for those who prioritize technical criteria in their trading strategies.

Chart Pattern Recognition

TradingView

While it may not match TrendSpider in terms of AI-driven pattern recognition, TradingView is still proficient in this area. The platform offers automated candlestick recognition and an extensive library of community-developed indicators. This makes it a versatile tool for traders who value a blend of automated and community-driven insights.

TrendSpider

It stands out with its AI-driven automated chart pattern and indicator recognition. The platform’s ability to analyze millions of data points across multiple timeframes gives traders an edge, especially for pattern trading.

TrendSpider’s automated trendline detection not only saves time but also enhances the accuracy and speed of trade review preparations. Its algorithm effectively correlates data points on a chart, automatically drawing trendlines and highlighting the most significant ones based on backtested success probabilities.

TradingView excels with its comprehensive and varied screening options, making it ideal for traders who require in-depth analysis across multiple markets and indicators.

TrendSpider, with its advanced AI capabilities, is particularly suited for traders focused on technical analysis and pattern recognition.

Both platforms offer unique advantages, and the choice between them would depend on the specific requirements and preferences of the individual trader.

TradingView vs. TrendSpider News & Social

The comparison between TradingView and TrendSpider in terms of news, social features, and chart analysis reveals distinct advantages for each platform, catering to different trader preferences and needs.

TradingView

This platform clearly outshines TrendSpider when it comes to social community features and financial news.

TradingView has been designed with social interaction as a core component, making it an excellent platform for those who value community engagement.

It offers a fully integrated chat forum and publishing system, allowing traders to share charts and ideas seamlessly.

This makes TradingView an ideal choice for traders who want to be part of a vibrant trading community, sharing insights and learning from peers.

TrendSpider

In contrast, TrendSpider lacks a social community and a news feed. This makes it more suited for traders who prefer to focus solely on technical analysis and charting without the need for social interaction or continuous news updates.

Chart Analysis

TradingView

Offers a broad range of chart analysis features, with over 160 indicators and a variety of unique specialty charts such as LineBreak, Kagi, Heikin Ashi, Point & Figure, and Renko. Its extensive array of chart drawing tools, including Gann & Fibonacci tools, 65 drawing tools, and hundreds of icons, makes it exceptionally versatile.

Additionally, TradingView provides innovative Buy and Sell gauges and stock indicator ratings based on critical technical analysis indicators, which offer an instant overview of market sentiment.

TrendSpider

Although it has fewer indicators than TradingView (over 100), TrendSpider still provides a comprehensive range of chart analysis tools.

It offers line, bar, candlestick, Heiken Ashi, and its patented Raindrop charts, along with 23 different chart annotation tools.

TrendSpider’s focus is more on the technical side, making it suitable for traders who prioritize advanced charting and technical analysis.

TradingView vs. TrendSpider Backtesting

In comparing TradingView and TrendSpider, particularly in the areas of backtesting and usability, each platform has its strengths, making them suitable for different types of users.

TradingView

Offers a more flexible backtesting system with its Strategy Tester, but it requires knowledge of its proprietary Pine Script language.

While Pine Script is user-friendly and accessible even for those without extensive coding experience, this requirement does add an additional learning curve.

For traders who are comfortable with coding or willing to learn, TradingView’s backtesting capabilities offer a high level of customization and power.

TrendSpider

Simplifies the backtesting process significantly with its point-and-click approach, eliminating the need for coding skills. This feature makes it highly accessible for traders who prefer a more straightforward, user-friendly system.

TrendSpider also includes a strategy tester that interprets typed instructions into code, allowing for easy strategy development. This approach is ideal for traders who want a quick and uncomplicated way to test their strategies.

Usability:

Both TradingView and TrendSpider are known for their ease of use, requiring no installation or configuration, making them accessible directly from a web browser. This ease of access is a significant advantage for both platforms.

TrendSpider

Stands out for its personalized approach, offering one-to-one training sessions with support staff. This feature is particularly beneficial for beginners or those who prefer a more guided experience.

Conclusion: Comparing Trendspider and Tradingview – Which is Better 

TradingView

Emerges as the best overall solution for stock analysis and trading software. It is well-suited for both beginners and experienced traders, offering a vibrant community, excellent charts, backtesting, scanning, and global screening capabilities.
Learn More About Tradingview

TrendSpider

Is a strong choice for traders focusing on the US markets who value intelligent AI pattern recognition and user-friendly, no-code backtesting.

For specific needs beyond what TradingView and TrendSpider offer, alternatives like MetaStock for real-time news and advanced backtesting, Stock Rover for building long-term portfolios, and Trade Ideas for AI-driven day trading are recommended.

Each of these platforms caters to different aspects of trading and investment analysis, providing options for a wide range of trading styles and preferences.
Learn More About TrendSpider

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Jeremy Biberdorf
Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He's a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.

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