TrendSpider Review: Best Technical Scanner For Stocks

by OTC Financial | Last Updated: 10 months ago
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TrendSpider is the best technical scanner for stocks.

In minutes, it can scan and chart stocks, commodities, ETFs, Forex, options, and futures.

TrendSpiders’ design allows trading professionals and beginners to trade like a pro with its easy-to-use interface packed with powerful features.

Every few seconds, it scans the market to look for specific trading patterns to find profitable trades.

This article is a review of TrendSpider, and it will discuss if the tool is an excellent tool for traders.

In this article, you’ll learn about the following:

How Much Does TrendSpider Cost?

TrendSpider prices are divided into three categories, though there’s a free 7-day trial for new members.

Here’s how the price plans compare:

Premium Plan ($44/Month)

The premium plan is the cheapest of the three plans in TrendSpider. Under this plan, you’ll have access to:

  • Real-time data
  • US stocks and EFTs
  • Currencies and digital assets
  • After-hour and pre-market analysis
  • Over-the-counter market and pink-sheet stocks

Under this plan, you also get earnings and dividends data, multi-timeframe analysis, market scanner features, and alerts.

However, you’ll miss out on back-testing features.

Elite Plan ($87/Month)

The elite plan is the second plan in the platform.

The plan offers all the features under the premium plan but has some additional features such as the following:

  • Customer support such as phone support and priority service
  • Multi-factor and multi-timeframe alerts
  • Backtesting features such as strategy tester and intraday backtesting

However, the additional features come at an extra cost.

Also, while this plan has most of the features that a trader will need, it’s not as extensive as the third plan.

Advanced plan ($131/Month)

The advanced plan is the most expensive on the platform, and it offers all the features offered under the premium and elite plans.

However, the additional cost means that you get some extra features like the following:

  • You get six workspaces compared to four in elite and two in premium
  • The market alert expires after 90 days, while in elite, it expires after 30 days and 14 days in premium
  • You get 200 results per scan, while in elite, you only get 100 results and 25 plans in premium

The free trial is available for all three plans.

Therefore, you can start with the trial and decide to upgrade or cancel whatever plan you choose.

Can You Use TrendSpider On Mobile?

TrendSpider can be used on any desktop or mobile device with a browser.

When trading stocks, you need to know what’s going on in the market at all times.

So, mobile is perfect for those who want to scan the market while they’re on the go.

TrendSpider lets you do that with its mobile app and website updates.

The mobile app has been designed to complement the web portal.

So, you’ll know when a stock has just gone up or down due to one of the many built-in alerts and charting tools in the app, as you would on the web page.

Features Of TrendSpider

One thing that makes TrendSpider stand out is the wide range of tools and features.

Here are some of the standout features:

Automatic Trendline Detection

TrendSpider uses data and algorithms to calculate trendlines automatically.

The result of this is more accurate than the traditional eyeballing, where lines could look right even though they weren’t.

Moreover, the trendlines can be customized to fit a user’s style and preference, making them easy to read.

Automated Price Alerts

When you set a technical indicator for stock prices, the platform will notify you when the indicated pattern is spotted.

This feature can be customized by setting candlestick formations, quiet hours, moving averages, or upper and lower indicators.

This will enable you to follow price patterns on the go.

Multi-Timeframe Analysis

With this feature, you can overlay multiple timeframes to view how a single chart’s long-term and short-term indicators interact.

Fibonacci Retracements

TrendSpider can help calculate the trading data to help you identify your peaks and troughs within seconds of initiating the request.

This feature will help you save a lot of time, avoid guesswork, and get more accurate results from the technical analysis.

Candlestick Pattern Detection

The platform also has a feature that can use algorithms to detect and display different candlesticks.

The candlesticks are displayed with marked segments that are easily recognizable.

This makes it easy for traders to identify patterns accurately.

Pros and Cons Of TrendSpider

While TrendSpider has some powerful tools, it can only benefit those who know how to use it.

If you’re a beginner, you’ll need to use the tutorials first to get the best out of it.

Pros:

  • Many technical analysis tools help traders spot patterns and customize charts
  • Free one-on-one user training sessions and phone support for the advanced plans
  • A seven-day free trial enables users to test the platform before paying for the plans
  • Personalized alert settings where you get a notification through email or SMS
  • Dynamics alerts are based on technical analysis and trend lines rather than price

Cons:

  • Take a lot of time for new users to learn due to the few trading tutorials available
  • There’s no desktop platform option available, so you’re limited to browser or app
  • It can only be used on a single browser at a time

Is TrendSpider Any Good?

TrendSpider has a powerful tool that will benefit any trader.

You can explore all other trading platforms to identify good trading strategies when using this platform.

Also, the market scanner will help you to keep your current watchlist updated so you don’t miss out on anything.

Moreover, you can identify equities using any time frame ranging from a minute, a month, or several other timeframes depending on your plan.

With all these features, TrendSpider is worth your money.

Conclusion

TrendingSpider’s primary goal is to make trading simple and reliable for everyone by automating the data processing, Fibonacci Retracements, and more focus on multi-timeframe analysis.

It is a valuable tool for many traders as they’ll benefit from the stock scanner and dynamic price alerts.

Therefore, you stay updated on anything happening in the market.

So, you can start with the free trial by signing up on their website, then purchase the paid plan later.

Try TrendSpider 7-Day FREE trial By Clicking Here!

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