Trendspider Review: Automated Chart Analysis Tool - Topedgefx.com

Trendspider Review: Automated Chart Analysis Tool

Welcome to the Trendspider review.

The Trendspider software is marketed as an automated chart analysis tool that saves time, improves accuracy, eliminates guesswork and works with all real-time market data.

According to the vendor, this tool gives us beautiful charts+automated technical analysis+instant backtesting with game-changing alerts.

The promotion comes across as very aggressive and overwhelming at the same time.

I’ve not reviewed indicators like this one in a very long time.

Indicators like Dynamic Trend Trader, Forex Pin and SirFX are not a match, at least in terms of the features and promises we get when we compared these ones to the Trend Spider.

In addition to this, the developer wants traders to know that these are not their “father’s” charts for they’ve been created for traders and by traders.

This statement comes across as insulting and some traders may even take offense.

trendspider review

But all in all, the vendor goes ahead to boast of the various features that their TrendSpider provides.

My analysis reveals that TrendSpider.com is a very popular website and I certainly believe many technical analysis traders have either heard of this tool or bought a license.

The vendor selling Trendspider believes that this charting tool enables traders to see the Forest and trees at the same time.

They want traders to believe that with the Trend Spider charting analysis tool, traders can see hidden trend lines plus support and resistance zones that others don’t see.

Most importantly, they want traders to believe that the tool, Trend Spider, was designed to automate technical analysis, backtesting and chart watching so that traders can make faster and consistent trading decisions.

There’s a whole load of information on the vendor’s website which is to be analyzed and understood before people can buy a license or request free trial.

Therefore, in this TrendSpider review, we want to establish whether this charting tool is worth the price tag or the developer is just bluffing.

TrendSpider Review

TrendSpider platform lists Dan Ushman as the founder and Ruslan Lagutin as the co-founder and CTO.

We don’t know about their trading backgrounds yet but the two want traders to know that they have been trading for a while now and manually analyzing charts, thereby wasting a tone of time in these analyses.

These two individuals want technical analysis traders to know that spending time on the charts is a waste of time and judgement can be clouded by external factors like emotion, bias and so on.

According to the team, these external factors prevent traders from finding the consistent technical strategy that makes money.

So Trend Spider should be one that tool that changes the game.

The team is based in Chicago, Denver, India, Russia, and Ukraine and are claiming to be seasoned traders and developers or both.

In addition to this, they claim that the charting software is used by over 4,000 customers (although we can’t verify this figure yet).

Traders who want to contact the team can do so from Monday till Friday between 9am-5pm CST using (833) 587-3637 or the company’s live chat.

Also, a contact email address has been provided by the team at hello@trendspider.com.

TrendSpider Review: the package

The website is crisp clean and very professional.

Due to the name “TrendSpider”, one might believe this charting tool was designed exclusively for trend following.

Nonetheless, the vendor discloses a number of features which they’ve built into their Trend Spider charting tool.

The team believes that TrendSpider’s instant candlestick pattern recognition, support and resistance detection coupled with price islands and gap detection capabilities will save time, reduce errors and increase accuracy.

They also tell traders that TrendSpider technical analysis tool is designed to automate trend lines, Fibonacci patterns and Breakouts detection.

The vendor makes it obvious that they’re providing automated technical analysis software by traders and for traders.

The tool is allegedly AI-powered and is using powerful, cloud-based algorithms with math and machine learning capabilities.

Certainly the list of features associated with this charting tool is so long that I cannot add them all in one paragraph.

So I will list them down in bullet format and help you pick out the specific features and their benefits with regards to your trading.

TrendSpider Review: Features and benefits

  • Minimizing strategy risk: The in-built backtesting engine lets traders test the strategy on multiple charts because the vendor believes a single strategy will not work on multiple charts
  • Finding trades: Trades can combine their best indicators, time frames and chart patterns in order to create “mega alerts” for trade setups and conditions
  • Identify trends with data from two time frames: The vendor believes long term trends influence price action in low time frames. This feature combines data from two time frames for better analysis
  • Multiple indicators for multiple timeframes: Supported indicators include SMAs, EMAs, VWAPs, Oscillators, RSI, Williams %R, MACD, Alphatrends and Anchored VWAP
  • TrendSpider Dynamic Price Alerts
  • Drawing and annotation tools
  • In-built Smart watch list
  • Real time market data plus historic data for 1 minute to 1 month duration
  • 100% web-based software

Supported real time Market data

The TrendSpider is a charting tool with support for multiple sources of real time market data.

Markets supported include stocks, equities, ETFs, Forex, Futures, Cryptocurrencies and indices.

US exchanges include that are supported include NASDAQ, NYSE, AMEX and OTC/Pinksheets.

In terms of exchanges, TrendSpider charting tool supports data from Binance, Bittrex, Poloniex, Bitfinex, Kraken, CoinBase just to name a few.

Trend Spider subscription packages

There are two types of licenses: monthly and annual.

Traders choose a package of their choice depending with their needs. However, the annual package has a discount of 35%.

[tabs][tab title=”Standard”]7 days free trial then $11 per month Paid yearly as $132

Real-time Data: √

US Stocks & ETFs √

Forex/Currencies √

Crypto  √

OTC/Pink-sheet Stocks ×

Indices (delayed)  ×

Futures (delayed) ×

After hours/pre-market ×

Charting: 5 minute

Backtesting: ×

Automated Analysis: Limited

Multiple Workspaces: ×

Alerts: ×

Multi-Factor Alerts: ×

Trendline Detection: √

Breakout Detection: √

Candlestick Pattern: ×

Automated Fibonaccis: ×

Heatmaps: ×

Phone Support: ×

Priority Service: ×

Beta Access: ×

[/tab] [tab title=”Premium”]7 day free trial then $27 per month Paid yearly as $324

Real-time Data: √

US Stocks & ETFs √

Forex/Currencies √

Crypto  √

OTC/Pink-sheet Stocks ×

Indices (delayed)  ×

Futures (delayed) ×

After hours/pre-market ×

Charting: 1 minute

Backtesting: ×

Automated Analysis: √

Multiple Workspaces: √2

Alerts: √25

Multi-Factor Alerts: ×

Trendline Detection: √

Breakout Detection: √

Candlestick Pattern: √

Automated Fibonaccis: √

Heatmaps: √

Phone Support: ×

Priority Service: ×

Beta Access: ×

[/tab] [tab title=”Elite”]7 day free trial then $47 per month Paid yearly: $564

Real-time Data: √

US Stocks & ETFs √

Forex/Currencies √

Crypto  √

OTC/Pink-sheet Stocks √

Indices (delayed)  √

Futures (delayed) √

After hours/pre-market √

Charting: 1 minute

Backtesting: √

Automated Analysis: √

Multiple Workspaces: √4

Alerts: √75

Multi-Factor Alerts: √

Trendline Detection: √

Breakout Detection: √

Candlestick Pattern: √

Automated Fibonaccis: √

Heatmaps: √

Phone Support: √

Priority Service: √

Beta Access: ×

[/tab] [tab title=”Master”] 7 days free trial then $77 per month paid as Paid yearly: $924

Real-time Data: √

US Stocks & ETFs √

Forex/Currencies √

Crypto  √

OTC/Pink-sheet Stocks √

Indices (delayed)  √

Futures (delayed) √

After hours/pre-market √

Charting: 1 minute

Backtesting: √

Automated Analysis: √

Multiple Workspaces: √6

Alerts: √175

Multi-Factor Alerts: √

Trendline Detection: √

Breakout Detection: √

Candlestick Pattern: √

Automated Fibonaccis: √

Heatmaps: √

Phone Support: √

Priority Service: √

Beta Access: √

[/tab][/tabs]

Customer reviews

Despite the vendor’s claim that Trend Spider charting tool is used by over 4,000 traders, I was not able to find any reviews of the tool on the internet.

trendspider used by 4000 traders

The only Trend Spider reviews I could find online were feedback written by bloggers promoting it to receive kickbacks.

I also felt that these reviews were from people who have never used this product before and are only writing Trend Spider reviews for the sake of driving traffic to their blogs.

So what I’m requesting (if you’re one of the “4,000” customers of Trend Spider) is honest feedback or input regarding this product.

If you’ve been using it or you tested it and got bored, please use this platform to tell us about your experience.

Conclusion

I’ve reviewed lots of trading indicators on this website but have never seen a sales page with so many details like Trendspider.com.

In as much as the vendor is highlighting some critical features that every charting analysis tool should have, my feeling is that not every trader can benefit from this tool.

The only traders who can find it useful are those with some experience in trading.

Total beginners must take advantage of professional training or opt to automate their trading entirely so as to avoid the hustle of tinkling with a trading indicator to find the best strategy or signals.

In addition to this, I would love to see real trading results from traders who have been using this tool before.

The developer does not appear to be trading as they’re concentrating on creating and updating the software, hence the free trial instead of providing verified trading results and charging licenses upfront.

Thanks for reading this TrendSpider review.

Drop your comments so the trading community can hear your opinion or experience with this product.

Leave a Reply