TrendSpider is an innovative stock charting and analysis platform that uses machine learning to provide automated technical analysis. By analyzing your inputs and the data on thousands of stocks, TrendSpider adapts to your needs and interests.
With TrendSpider, you get automated chart analysis and pattern recognition powered by machine learning algorithms. Whether you rely on technical, fundamental, or quantitative analysis, TrendSpider aims to enhance your trading.
With an easy-to-use interface, powerful automation, and customizable features galore, TrendSpider warrants a look from any serious stock trader, including day traders and swing traders. But is TrendSpider the best stock screener? Here is a TrendSpider review to determine this.
How Does TrendSpider Work
Once you’ve signed up, TrendSpider gives you access to an intuitive web-based technical analysis and stock charting software. You’ll find advanced tools to identify trends, patterns, and trading opportunities across any financial market.
New users can also take advantage of a complimentary call with a trading expert. This phone call is completely free of charge and is conducted by a trading expert. It’s an added incentive to start using the TrendSpider stock charting app and something not offered by other similar platforms.
The only real downside is you cannot open two TrendSpider tabs simultaneously while logged into your account. However, you’ll find the platform intuitive enough that toggling between screens is simple.
TrendSpider Features
TrendSpider offers some innovative features that set it apart from other fundamental stock screeners.
Charts
In addition to traditional chart types like line, candlestick, and bar charts, TrendSpider introduces unique real-time charts such as Hollow Candles, Heikin Ashi, and Raindrop Charts. These provide an alternative visualization of price action to uncover insights other chart types and chart pattern recognition systems may miss.
Automated Trendlines and Heatmaps
TrendSpider uses algorithms and machine learning to research stocks and plot trendlines automatically, removing the need to guess at support and resistance levels. The heatmap feature highlights strong support and resistance areas, which, combined with the trendlines, helps you spot prime setups.
Multi-Time Frame Analysis
You can add technical indicators and trendlines to secondary periods on a single chart. This allows you to analyze a stock on multiple timeframes at once, from 1-minute charts up to monthly charts.
Multi-Symbol View
Building on the multi-timeframe analysis, Multi-Symbol View lets you see four timeframes for a single symbol on one chart. Monitor a stock simultaneously on the 1-minute, 5-minute, 15-minute, and 30-minute timeframes.
Automated Fibonacci Retracements
When using this feature, experienced traders can automatically find important inflection points. These are based on Fibonacci levels, mathematical ratios found throughout nature that also tend to influence stock price movements.
Watch Lists
This feature allows you to create watch lists for the different markets covered under your subscription plan. Add stocks, ETFs, indexes, forex pairs, cryptocurrencies, and more to your custom watch lists. Get swing trading alerts on price movements, volume changes, financial news, and more for the securities on your watch lists.
Candlestick Recognition
TrendSpider’s candlestick recognition feature allows for automatic analysis of candlestick patterns. Candlestick patterns are formations on a price chart that can indicate a potential reversal or continuation of a trend.
Backtesting
This feature is invaluable for active traders as it allows them to see how potential trade strategies would have performed in the past. Using historical data, you can use this backtesting software to test different entry and exit rules, position sizing, risk management, and more.
Options Flow Widgets
Convenient options flow widgets give you an overview of the latest unusual flow at a glance. Options traders can see stats on the largest trades, biggest sweeps, most active strikes, busiest expirations, top symbols, and more. These widgets simplify monitoring the options market for actionable flow in real time.
TrendSpider Pricing
TrendSpider offers three main subscription plans: Basic, Premium, and Elite. The seven-day free trial allows users to experience the platform and determine which features are most useful before committing to a paid subscription.
Premium
($39/month, $198/year) provides all the basics plus real-time data for thousands of stocks across the U.S., ETFs, cryptocurrencies, digital assets, OTC stocks (delayed), futures, after-hours and pre-market data. The Premium plan delivers powerful tools and information for informed decisions about stocks for novice investors, retail investors, individual investors, and technical traders.
Elite
($79/month, $351/year) builds on the Premium plan by adding global indices (delayed), backtesting, multi-factor alerts, intraday stock scanners, automatic anchoring, asset insight, and three algorithmic trading bots. The Elite subscription provides a robust set of features for advanced traders and advanced investors.
Advanced
($129/month, $409/year) expands the Elite plan’s capabilities and includes six workspaces operating simultaneously. Subscribers gain access to 250 dynamic alerts (lasting 90 days) and 250 search results. The Advanced plan suits professional traders, institutional investors, long-term investors, advanced users, and wealth managers.
Verdict: Is TrendSpider the Best Stock Screener
TrendSpider’s machine learning algorithm and dynamic price alerts work together to reduce the time it takes to analyze stocks. Making it one of the best stock screeners available on the stock market.
Beginner traders may find it difficult to utilize all of TrendSpider’s advanced features initially, but its educational platform—” TrendSpider University”—provides all the resources you need to learn the ropes.
TrendSpider provides fundamental analysis tools to boost your day trading or swing trading strategy. Click here to check out their free trial and see if TrendSpider’s excellent features fit your needs. You can also use our coupon code 20MM and save 20% on sign-up.