When you hear investing, the first thing that comes to mind is a highly technical and often complicated process. This can be discouraging for people who are just starting out in their journey towards accumulating wealth. With TrendSpider Review 2022 by Prosperity Wealth Management Group, investors will find it easy to get started on their journey toward success. The tool allows users to access more than 40 indicators with ease so they can easily compare trends and make informed decisions about where to invest money going forward.,
The “trendspider vs tradingview” is a comparison of two popular technical analysis tools. One tool, TrendSpider, is a powerful and easy-to-use tool that can be used for both beginners and experienced traders.
Are you seeking for technical analysis tools to assist you expand your investment portfolio?
TrendSpider could be just what you’re looking for.
TrendSpider is a technical analysis and charting application that delivers you unrivaled market data and trade automation tools. Is TrendSpider, however, everything that it claims to be?
We’ll take a deeper look at what TrendSpider has to offer in our TrendSpider review. We’ll go through the software’s features, benefits, and drawbacks so you can determine whether it’s the appropriate fit for your requirements.
What is TrendSpider, exactly?
TrendSpider is a software startup that provides experienced investors with high-end technical analysis tools. Dan Ushman and Rus Lagutin launched the firm in 2016 to assist expert traders increase the efficiency of their technical analysis.
Inventors may use TrendSpider to access a variety of technical analysis tools, including charts, alerts, and stock scanners. What sets TrendSpider distinct from the competition is that it includes tools that assist you automate your analysis so you can make better trading choices quicker and more precisely.
What is the Process of TrendSpider?
TrendSpider, like most other technical analysis tools, is a subscription-based service. If you wish to try out the platform, go to the TrendSpider website and click the “Start a Free Trial” option.
Before entering your personal information, TrendSpider allows you to pick your membership plan. You’ll also need to provide payment information, but your card won’t be charged until the end of your seven-day free trial.
You’ll have access to all of the features that come with your subscription after you create an account. You may use the company’s web-based platform to create charts and do market research, or you can use the TrendSpider App for mobile to conduct technical analysis on the move.
Features of TrendSpider
For advanced traders, TrendSpider is a feature-rich platform. Here are some of the benefits you may expect if you create an account.
Market Information Feeds
To help you stay on top of the latest movements in the financial world, TrendSpider provides investors with Market Information Feeds.
The market data you have access to is determined by your membership plan. Real-time data on US equities, ETFs, currency pairings, and digital assets is available to all subscribers. Everyone also has access to delayed OTC/pink-sheet stock data as well as after-hours/pre-market data.
However, indices and futures market data are only available to Advanced and Elite users, and both are delayed rather than real-time quotations.
Like any good technical analysis software, TrendSpider comes with extensive Charting Software.
TrendSpider’s standard charts, which feature manual drawing tools, hundreds of indicators, and Fibonacci sequences, are available to all subscribers.
The main distinction between the charting options on TrendSpider that is subscription-based is that Premium account users do not have access to automatic anchoring tools. Aside from that, all TrendSpider account members have access to the same indicators and chart views.
Charts of Raindrops
Charts of Raindrops are a proprietary tool from TrendSpider that presents a wide range of technical data into a single simple, yet powerful, chart.
With Charts of Raindrops, you can view price action and volume charts at the same time. But instead of viewing classic candles and volume charts separately, Charts of Raindrops show you “raindrops,” which is a visualization of both the price action and volume of an asset in a selected time period.
As a consequence, these raindrops display a volume-weighted average price of an item over time, providing you with more information regarding market strength. This gives you up-to-date information to assist you make more informed judgments regarding your next transaction.
One of TrendSpider’s innovative features is its Automated Evaluation tools. Anyone using the platform can create customized chart automations that alert you whenever TrendSpider recognizes specific market patterns or price trends. This helps you save time on your analysis and it minimizes the chance that you’ll miss a breakout.
TrendSpider includes a great automatic function called Smart Checklists in addition to automated chart analysis.
When you utilize Smart Checklists, you may specify the indicators, price movements, and technical conditions you’re looking for in a given asset, and TrendSpider will develop an easy-to-read checklist that reveals if the asset satisfies your requirements. This saves time and decreases analytical error, allowing you to concentrate on larger market moves.
Analyzing Multiple Timeframes
TrendSpider’s Analyzing Multiple Timeframes tool lets you assess trendlines and indicators across multiple chart time frames.
It’s simple: when you utilize TrendSpider’s charts for a certain asset, the platform analyzes it automatically over a number of periods at intervals ranging from one minute to one month. These studies are carried out in the background so that you may easily plot indicators and trendlines.
Then, when you want to see your charts on a different timeframe, you simply need to press the Analyzing Multiple Timeframes on your screen. Doing so will prompt TrendSpider to show you how your indicators compare across timeframes so you don’t have to spend time manually comparing these trends.
Insights into Assets
In addition to its slew of technical data, TrendSpider also provides you with Insights into Assets, which includes fundamental and non-technical data to help guide your long-term trading decisions.
These Insights into Assets encompass things like Benzinga News headlines, earnings data, analyst recommendations, and information about stock splits. All of this information is presented on your charting interface so you can get technical and fundamental data side-by-side.
That said, some Insights into Assets features aren’t available with a Premium subscription. In particular, Premium subscribers only get Benzinga News, earnings data, and dividends data. You need an Elite or Advanced subscription for all other Insights into Assets, including analyst ratings.
Optional Extras is a market tracking tool that helps you stay on top of big activity in options markets.
The idea behind this tool is that it displays huge active bets or hedges from major market participants. These large short or long calls may have a significant influence on price fluctuations, but they are difficult to examine in a short amount of time.
With Optional Extras, you can easily visualize these large directional bets by integrating them into your charts. That way, you can use them to plan your investment strategy so that you can better time your own trades.
To help you easily find new trading opportunities, TrendSpider comes with a unique tool called Market Analyzer.
This application allows you to analyze numerous markets using technical indicators over certain time periods in order to find new profitable investments. You may choose from a selection of 20 pre-built scanners, such as a MACD Cross Scanner, or build your own.
All TrendSpider account members get access to the company’s scanners, however the accuracy of the scanners is determined by your subscription plan. Premium members can only scan data at one-hour intervals, but Advanced and Elite subscribers may scan data at one-minute intervals.
TrendSpider’s backtesting tool allows you to see how well your new trading methods might have done in the past. While you can’t always foresee the future, you can utilize historical data to help you make better trading choices in the future.
You may use TrendSpider to automate your trades using chart-based trading methods based on technical indicators, chart patterns, volume, or price movement. You may then use the platform’s more than 20 years of historical market data to see how well your approach might have performed in the past.
The backtesting capability of TrendSpider, however, is only accessible to Elite and Advanced members.
The Dynamic Alerts function is available to all TrendSpider subscribers. Without writing a single line of code, you can quickly and simply set up trade alerts that suit your exact requirements using this functionality.
Unlike other Charting Software that only let you set alerts based on price action, TrendSpider also lets you create alerts based on chart patterns and technical indicators.
However, bear in mind that each membership tier has varied alert access. Premium customers will get just 25 notifications that will expire after 14 days, whilst Elite subscribers will receive 100 alerts that will expire after 30 days. Members of the Advanced plan, on the other hand, get 250 notifications that expire after 90 days.
TV TrendSpider is the company’s proprietary video channel. On the channel, you can find videos from the company and its team of market experts to help improve your personal trading strategy.
The company’s videos cover a wide range of topics, though most focus on tips and tricks for advanced trading techniques, reviewing charts, or handling uncertainty in the financial markets. TrendSpider also often hosts live videos on TV TrendSpider so you can interact with the broader investing community and get timely insights to fine-tune your trading strategy.
Everyone that subscribes to TrendSpider can use the company’s large collection of Educational Materials, like its blogs, how-to guides, and tutorials. The firm also offers a feature called TrendSpider University, which is a comprehensive guide to all of the tools on the platform.
To help new members get started trading, TrendSpider offers one-on-one training sessions with a member of the TrendSpider staff. Premium account users are entitled to one training session, while Advanced and Elite account holders are entitled to limitless training.
App for mobile
In addition to the company’s web-based technical analysis platform, TrendSpider also offers a App for mobile for on-the-go market updates.
This app is available for both iOS and Android devices. It’s designed as a companion app to the web-based TrendSpider platform, so it doesn’t offer all of the firm’s features. However, the company’s apps are highly rated for user-friendliness and they provide you with real-time market data, basic Charting Software, and access to all of your pre-set alerts.
TrendSpider Pricing & Fees
TrendSpider is a subscription-based business, therefore anybody interested in using its services must join up for a paid plan. The cost for various TrendSpider subscriptions is shown below.
The TrendSpider Premium package provides basic platform access. It costs $44 per month ($528 per year) or $36.67 per month ($440 yearly payment) if you pay monthly ($528 total).
Premium comes with basic charting and analysis features, such as indicators, manual drawing, Charts of Raindrops, and Fibonacci sequences. You can also access most Automated Evaluation tools.
Premium, on the other hand, allows you to utilize two workspaces at once and has a limit of 25 current alerts that expire after 14 days. Backtesting and most asset analysis capabilities, such as analyst ratings data, are not included in the Premium plan. However, if you’re searching for a more economical method to access TrendSpider’s key capabilities, it’s a good option.
Most of the platform’s more sophisticated functions are available with a TrendSpider Elite subscription. If you pay monthly ($1,044 yearly), it costs $87 per month, or $72.50 per month if you pay annually ($870 annual payment).
You receive all of the features that come with Premium, plus up to four workspaces and 100 notifications that expire after 30 days, with an Elite plan. You also receive all of the Premium features, including backtesting, unlimited training sessions, and phone-based customer support.
TrendSpider’s Advanced subscription level is designed for high-volume traders. It costs $131 per month ($1,572 yearly) if paid monthly, or $109.17 per month ($1,310 annual payment) if paid annually.
Beyond what you receive with the firm’s Elite membership, TrendSpider advanced offers no more tools or capabilities. However, it provides far more in terms of charting and analytical limitations for your account.
Advanced, for example, has six concurrent workspaces, 250 alerts that expire after 90 days, and accurate scanning capabilities with a one-minute minimum scanner period and up to 250 results each scan. As a consequence, Advanced is the ideal choice for active traders who need to analyse big volumes of data quickly.
TrendSpider is a trustworthy and well-known organization that provides technical analysis tools via its safe and encrypted website.
The firm, on the other hand, only supplies a charting and analyzing platform. TrendSpider does not presently have the ability to connect your brokerage or crypto exchange accounts, thus the company has no access to your money or assets.
Customer Service at TrendSpider
If you ever have an issue with your TrendSpider account, the company’s online support sites or TrendSpider University can provide solutions to the most prevalent concerns.
Subscribers may also reach out to TrendSpider’s customer service staff through email or live chat. Phone help and priority assistance are also available to Elite and Advanced members.
Pros of TrendSpider
- One of the most sophisticated technical analysis systems on the market.
- Comprehensive and customizable Charting Software
- Ability to automate technical research
- Advanced market alert tools to keep you ahead of the curve.
- One-on-one user training sessions are included.
- Customer service is provided by phone, email, and live chat.
- Comes with proprietary tools like Charts of Raindrops
- Optional Extras lets you visualize major options trading activity
- You may use backtesting software to test trading methods.
Cons of TrendSpider
- Subscription plans are not cheap.
- Some market data is not current.
- There is no way to connect your brokerage or exchange accounts.
- For beginner or intermediate investors, it’s too complicated.
- App for mobile is fairly limited
- Fundamental analysis research techniques are quite restricted.
Alternatives to TrendSpider
Not convinced that TrendSpider is right for you? Here are two Alternatives to TrendSpider to check out instead:
TradingView is a popular charting and market analysis tool across the globe. It’s a subscription-based service with a web-based platform as well as a mobile and desktop app.
TradingView allows you to generate price alerts and customize charts. You may also do financial research on various assets and look for fresh investment opportunities. TradingView also comes with an integrated social network and functionality for in-platform trading through brokerage and cryptocurrency exchange interfaces.
The technical analysis capabilities in TradingView aren’t as sophisticated as those in TrendSpider. TradingView, on the other hand, provides a limited free membership and its premium plans are far more reasonable, making it a suitable alternative for beginner traders or anybody trying to keep expenditures to a minimum. To understand more, read our entire TradingView review.
Ideas Exchange is another industry-leading stock screener and charting platform. It’s specifically designed for more advanced investors who need high-end technical analysis tools and access to one a powerful stock screener.
When compared to TrendSpider, Ideas Exchange’ biggest advantages are its brokerage integrations and built-in trading tools. With Ideas Exchange, you can place trades directly from your price charts and even create automated trading strategies. The company also has an AI-powered market analyst tool to help you identify good entry and exit points.
However, Ideas Exchange is more expensive than TrendSpider and many of its trading features are only available if you use one of the company’s few supported brokerages. But if you want one platform for both technical analysis and trading, Ideas Exchange is worth considering. Read our full Ideas Exchange review to learn more.
For Whom Is TrendSpider Intended?
TrendSpider is for the advanced trader who wants access to cutting-edge technical analysis and Charting Software that you can’t get anywhere else.
TrendSpider is distinguished by its extensive collection of charts, indicators, alerts, and data, all of which can be accessed via a simple interface. The firm also makes analysis as simple as possible using automated tools and chart-based features, which minimize the need for coding and allow you to concentrate on trading.
However, TrendSpider is forthright about the fact that its services have a learning curve, and the technical nature of the platform means it’s not suitable for novices. It’s also somewhat pricey for a charting tool, and it lacks portfolio management and brokerage connectivity capabilities.
TrendSpider, on the other hand, is definitely worth investigating if you’re an experienced investor looking to simplify and automate your trading technique.
FAQs on TrendSpider
Here are some of the most frequently asked questions regarding TrendSpider that we’ve received.
Is TrendSpider completely free?
TrendSpider is not a free program. The firm provides a seven-day free trial, after which you must purchase a subscription to continue using the site.
Is TrendSpider a virus?
Although TrendSpider is a respected firm with a secure website, there is no way to link your brokerage or exchange accounts to the platform. TrendSpider never gets access to your money or assets as a consequence. Even with powerful trading tools like TrendSpider, there is still the chance of losing money while trading due to market volatility.
Is TrendSpider suitable for novices?
For newbies, TrendSpider is not a good choice. The instruments used by the organization are among the most modern on the market. This makes them more suitable for seasoned traders who are already familiar with the fundamentals of technical analysis.
Is TrendSpider Pro a Good Investment?
TrendSpider’s paid subscriptions are worth it if you’re an experienced investor that’s looking to take their trades to the next level. The company’s suite of technical analysis and Charting Software is second to none, so they’re a solid value for high-volume traders.
Is TrendSpider a Trading Platform?
TrendSpider is not a trading platform. TrendSpider does not allow you to link your brokerage or exchange account, thus you will be unable to trade on the site.
One of the most sophisticated technical analysis programs on the market is TrendSpider. The platform has a host of excellent tools that make it easy to fine-tune and automate your investment techniques so you can get the most out of each trading day.
TrendSpider, on the other hand, falls short in terms of price and user-friendliness. If you wish to trade from your charting program, the platform’s lack of brokerage interfaces is also a drawback. However, if you’re a seasoned investor who takes technical analysis seriously, you won’t find a better research tool than TrendSpider.
The “trendspider broker integration” is a powerful technical analysis tool that allows users to trade on the market. The trendspider review 2022 of this tool will help you decide if it’s worth investing in.
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