- June 25, 2020
-
W. Crowder
- Stock Trading System Reviews
- No Comments
- TrendSpider
- Reviewed by:
TrendSpider Review Summary:
TrendSpider may not be all things to all people, but if you are looking for smart A.I. algorithmic-driven charts that cover stocks, FX currency pairs, and cryptocurrencies then this is the name brand and leader in the space hands down. The pricing plans are imminently reasonable for this cutting-edged set of thorough and highly accurate charts that are rendered so beautifully and in an easy to understand and work with format.
TrendSpider is a powerful charting artificial intelligence platform. We look at the service that calls itself the “automated technical analysis software for traders, by traders” in this review.
TrendSpider Introduction and Background
Back in year 2016, the would-be founders of the TrendSpider were angered by what they saw as inefficient charting tools available to ordinary stock traders everywhere. They especially hated the less than standard results which these programs produced. Only the rich smart-money traders were able to afford better. So they made it their goal to construct a completely new kind of platform for charting that could deliver the high quality tools to develop superior charting output so that you could plan better and smarter in your trades. The idea was to greatly reduce the so-called profit-killing senseless mistakes through a more constant and reliable analysis output. TrendSpider arose from the seeds of this noble idea of helping the everyman trader.
Today’s platform has grown into the most complete and widely respected technical analysis software tool available anywhere. They keep improving it too. The platform boasts being the original automation engine that was completely customizable for its charts. Their alerts are still literally “head and shoulders” above the competition out there.
TrendSpider has become a great global outfit. They maintain staff in Chicago and Denver within the United States as well as in Ukraine, Russia, and India. Their team is compromised of highly experienced traders, chartists, software and chart developers, and others. Their charts assist more than 4,000 traders operating from around the planet to improve their accuracy and efficiency of trading.
This does not mean that TrendSpider is an alert service, chat room, or magic bullet trading system in a box like one of the Toshko Raychev or Russ Horn competing systems though. It only succeeds when combined with your trading initiative and actions. What it does do is to assist you in becoming the professional trader who you were born to be.
The Founders of TrendSpider
The firm TrendSpider only hails back to year 2017. It remains headquartered in Chicago, Illinois today. These three veteran traders pictured above developed the software as the veteran chartists and traders that they were. Dan Ushman, Ruslan Lagutin, and Jake Wujastyk and friends spent a full two years creating and perfecting their software. The huge man hours that have gone into this platform really show in the practical and easy to utilize results of this program’s tools and functions.
How TrendSpider Works
TrendSpider proves to be a fully automated technical analysis software-based platform. It relies on highly sophisticated machine learning tools and algorithms in order to find chart patterns and trends. This breakthrough concept for day traders who are always desperately seeking out reliable programming that gets the chart patterns right has changed the trading game for smaller retail investors who did not have the money for research assistants or rooms full of super computers.
To be honest, there really are a significant number of stock scanner services out there these days. They will all seek out patterns in stocks, yet you can count on one hand the numbers of them that have attained the levels of success that TrendSpider has demonstrated already in just a few years. It owes its rapid and enormous success to the gorgeous charts that it generates which are backed by its potent automated analysis tool.
Look at the platform itself and you can already see the huge differences between TrendSpider and their many rivals in the A.I. trading space. This Internet-based charting platform is just packed with many one of a kind features. The core of it though is the brilliantly constructed charting end-solution that delivers hugely on historical data rendered into breathtaking real-time charts. It is the ease of use in the platform that sets it a cut above its rivals. The platform is quick and does not suffer from the all too common lagging that often happens with these kinds of scanners. Best of all, subscribers are able to utilize it to analyze not just stocks, but also FX currency pairs and even cryptocurrencies.
TrendSpider Investing Products and Services
What makes TrendSpider such a powerful package is its many features. These we will look at in more detail below. Keep in mind that the original founders of the company continue to improve and expand them all of the time.
Charting Features
The charts offered by TrendSpider might just blow you away. They have standard candlestick charts, bar charts, and hollow candles. These are rendered in beautiful visual form as shown in the image from their website below. The indicators offered on them are significant and wide-ranging. Critics have argued that these charts by themselves are worth the cost of the monthly or annual membership plan. Customizing the charts fully to your own personal preference is so easy with TrendSpider.
Automated Analysis
The TrendSpider platform’s crown jewel turns out to be its automated analysis. Its trend lines are actually among the most significant components of such analysis here. You simply input a ticker into the charting platform, select your desired timeframe, and then the A.I. spits out all associated trend lines. There are three types of algorithms from which you can choose your charts, as follows:
- Original – relies on the company’s original algorithm
- Enhanced – utilizes the improved company algorithm that they later released as an update
- Experimental – falls back on newly tested features that the company is experimenting with
You are even able to tweak their advanced setting to more fully customize the trend line results. We love that the company insists that its program will always find all of the specified potential trend lines on a chart.
Advanced Fibonacci lines are another standout feature of the program. The smart algorithms of TrendSpider automatically detect the most relevant levels of peak to trough on underlying symbols in order to compile and plot out the most efficient Fibonacci line levels.
Multi-Timeframe Analysis
The software delivers more than 40 moving indicators. These include:
- Bollinger Bands
- Moving Averages (simple and adjusted)
- Parabolic SAR
- RSI
- MACD
- Stochastics – may be added to the lower or upper chart to provide momentum and price-based triggers
This makes it possible to turn on overlaying analysis as an x-ray exam. These multiple time frames deliver you the very best of market intelligence to improve the interpretation of price action. Without a doubt this remains among the most helpful and potent features of the TrendSpider platform.
Market Scanner
For its proprietary market scanner, the company is understandably secretive about what makes this work. They do state that it is a multi-timeframe scan that is multi-factor scanning, provides for intraday scanning and traditional scanning as well.
TrendSpider Raindrop Charts™
Raindrop Charts were designed by TrendSpider with the aim of telling the back story of price movements. These bring in volume on to every price bar thanks to the ability to render VWAP and histograms. It shows you not only where the price moved and the amount of time that it took to happen, but also the way in which the volume flowed as the price movement occurred. This new kind of chart provides a superior picture of the intraday trading activity.
Backtesting
One of the added on abilities to the platform was the ability to backtest your strategies under a range of entry and exit criteria. The tool makes it simple to detail exact entry and exit conditions in order to learn the ways in which a trading strategy you favor might have performed in the real world past. The visualization of this backtester means that you can see the proposed entry and exit points right up on the chart. This makes it simpler and more effective for you to picture your strategy.
Alerts
The charts will allow you to set up indicator-driven or price-based alerts right on these charts. You can make these specific, like with how many times a stock price bounced off a given trend line or the particular price level you desire. Actually the majority of such platforms as this one will possess some form of alerting capabilities. TrendSpider just goes above and beyond this service with a higher level of its unique features.
- You have the ability to establish dynamic alerts – these will tell you when the stock price hits as compared to a given dynamic price area
- You are able to set up various alert triggers – TrendSpider is unique in that it provides three separate types of triggers in Touch, Break Through, and Bounce functionalities.
TrendSpider Training Materials
TrendSpider does not provide the enormous library of videos or manuals that many competing services in the prediction business will. They do offer the most important form of training material in the form of one free training session on using the software and platform. After you have utilized your free session, if you still have questions then you can pay for additional training sessions at the then-going rates with the service.
TrendSpider Support, Pricing Plans, and Trial Policies
Trendspider goes above and beyond the call of duty with its membership support, trial membership policy, and pricing plans to fit all budgets and charting needs. We look at these next.
TrendSpider Member Support
TrendSpider Pricing and Trial Policies
TrendSpider offers a fairly generous seven day free trial period to try out the software and artificial intelligence charts and trends with all that they have to offer. There are no strings attached to this offer. Once you have completed the seven day trial, you go into one of their three level tiers of memberships, which are as follows:
- Premium Membership – For $27 per month or $324 per year, you get this basic level of membership
- Elite Membership – You pay $47 per month or $564 per year to have this service which they call ideal for those active traders who already have a day job they want to keep
- Master Membership – At $77 per month or $924 per year, you get the service tier that is called best for the experienced and frequent trader
TrendSpider Products
TrendSpider delivers a significant range of helpful investment charting and predicting system products and services for paying members. These include all of the following:
TrendSpider Charting
TrendSpider Automated Analysis
TrendSpider Multi-Timeframe Analysis
TrendSpider Market Scanner
TrendSpider Treadrop Charting
TrendSpider Backtesting
TrendSpider Alerts
Pros of TrendSpider
- Incredibly precise candlestick and trends discovery and chart rendering is worth the monthly cost all by itself.
- Charts are fully customizable and highly flexible.
- Fibonacci retracement levels are fully automated and effective with specific highs and lows provided.
- The one on one free training schedule is excellent training, while customer support is impressive.
- Alerts are dynamic and allow you to have A.I. intelligent eyes watching all of the markets.
Cons of TrendSpider
- The product is only a few years old, meaning that features continue to be added, improved on, and refined.
- There is a learning curve for these charts if you do not already possess a significant background of technical analysis.
TrendSpider Review Summary
TrendSpider may not be all things to all people, but if you are looking for smart A.I. algorithmic-driven charts that cover stocks, FX currency pairs, and cryptocurrencies then this is the name brand and leader in the space hands down. The pricing plans are imminently reasonable for this cutting-edged set of thorough and highly accurate charts that are rendered so beautifully and in an easy to understand and work with format.
Phone: (833) 5-TRENDS
Website: https://www.trendspider.com/
