Review TrendSpider Pros And Cons

Jeremy BiberdorfBy: Jeremy Biberdorf

October 24, 2023October 24, 2023

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TrendSpider is an automated stock analysis software tool aimed at helping investors spot trends faster. It combines traditional technical indicators with proprietary tools to assess chart patterns across various securities.

TrendSpider provides real-time data, dynamic charting through weekly charts and monthly charts, and an intuitive interface that allows you to visualize market movements and identify potential opportunities. You can scan for trend reversals, breakouts, support and resistance levels, and more using the platform.

The software is geared toward active traders, especially day traders and swing traders, but buy-and-hold investors may also benefit from the insights.

One of TrendSpider’s most innovative features is the Raindrop charts and candlestick charts, which map price movements over various time frames onto a single dynamic chart so you can instantly see the big picture.

Additional technical analysis tools include candlestick patterns, moving averages, Bollinger bands, and custom indicators. Here is a detailed TrendSpider review touching on its pros and cons.
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TrendSpiderPros: Why Traders Love It

TrendSpider has a lot going for it. Here are some of the major pros that make professional traders flock to this automated trend analysis tool:

Easy-to-Use Interface

Trendspider is designed to be intuitive. You’ll be up and running within minutes, scanning for trends and setting dynamic alerts. The uncluttered interface and simple menu options mean you can focus on what really matters – the charts.

Rapid Analysis of Price Action

TrendSpider instantly analyzes price action across timeframes to detect trends as they develop. No more manually drawing lines and figuring out if something qualifies as a trend. TrendSpider does the hard work for you so you can react quickly to new opportunities.

Customizable Alerts

You can set all types of active alerts to notify you of trend changes, breakouts, and reversals so you never miss an important move in the market. Alerts can be triggered for new trends, accelerating trends, trend reversals, and more. You choose what you want to be notified about.

Affordable Subscription Option

While the 7-day free trial lets you test all the features, TrendSpider won’t break the bank if you sign up. Subscription options start at $39/month, a small price for a tool that can help improve your trading performance.

TrendSpider Cons: Potential Drawbacks to Consider

TrendSpider does have some potential downsides to be aware of before signing up.

Loading Times Can Be Slow

With so much data powering the charts, TrendSpider can sometimes load slowly. The sheer volume of available indicators, studies, and timeframes means much calculating going on in the background. If you have a slower internet connection or computer, the lag in loading bar charts and switching between them may prove frustrating.

Viewing Multiple Charts Can Be Difficult

With the ability to add many single chart types, indicators, and drawings comes the challenge of viewing them all easily. TrendSpider does allow you to save chart layouts, but viewing more than 3-4 charts at a time on the screen can still feel cluttered and make spotting key signals tricky. This makes it one of the best charting platforms.

TrendSpider Pricing and Plans

TrendSpider offers three subscription plans to suit different trader needs and budgets. Let’s break down what each plan includes so you can determine the best option for you.

Premium

For $39/month or $198/year, the Premium plan includes real-time data for US stocks, ETFs, cryptocurrencies, and more. This plan is ideal if you’re starting with algorithmic or automated trading and want to test the waters without a major investment.

Elite

The Elite plan, at $79/month or $351/year, builds on the Premium features by adding global indices, backtesting tools, multi-factor alerts, and intraday scanning. With Elite, you’ll have more data and capabilities to develop, test, and deploy basic trading algorithms. The Elite plan can be a good step up once you’ve gotten familiar with it being a technical analysis platform.

Advanced

For experienced traders and advanced traders, the $129/month or $409/year Advanced plan delivers the full suite of TrendSpider tools. You’ll get up to 6 workspaces, 250 dynamic price alerts, and five trading bots. The Advanced plan is really designed for serious algorithmic and automated traders who need robust data, advanced analytics, and automation to execute precision trading strategies.

Is TrendSpiderWorth It? Our Final Verdict

So, is TrendSpider worth the investment? Our final verdict is yes, especially if you’re a technical trader. For what you get, TrendSpider is very reasonably priced. Plans start at $39 monthly, but you can save 30% with our coupon code MM30.

They frequently run promotions like free trials and coupon codes for new members. The features and tools you gain access to for the price are well worth it. TrendSpider gives you an array of technical indicators and tools for analyzing the markets.

The charting tools and screening capabilities allow you to find trading opportunities across stocks, ETFs, futures, forex, and crypto. You can set up custom scans to find exactly what you want. If you’re looking to save time, find new opportunities, and gain an edge in the markets, TrendSpider is worth a try. Click here to sign up for a free 7-day trial and see how it can boost your trading.

Save 30% with coupon code: MM30 on 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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