TrendSpider vs. TradingView | Which is Best For You? (2024)

tradingviewvstrendspider

If you are looking for a powerful and reliable platform to analyze and trade the financial markets, you might have come across TradingView and TrendSpider.

In this article, we will compare TradingView and TrendSpider based on their main features, benefits, drawbacks, and pricing. By the end of this article, you will have a clear idea of which platform suits your needs and preferences better.

tradingviewvstrendspider

Overview of TradingView

TradingView is one of the most widely used platforms for charting, screening, and trading the financial markets. It supports a wide range of markets and data sources, including international stocks, bonds, forex, crypto, and futures.

You can access TradingView from any web browser or mobile device, as well as integrate it with popular brokers such as Oanda, Interactive Brokers, TradeStation, and more.

Some of the main features and benefits of TradingView are:

  • A powerful and user-friendly screener that allows you to filter by technical and fundamental criteria, such as price, volume, indicators, earnings, dividends, ratings, and more.
  • A large library of indicators and drawing tools, as well as the ability to create custom indicators using Pine Script, a proprietary coding language that is easy to learn and use.
  • A direct broker integration that enables you to trade from the platform without switching to another application or website. You can also use paper trading to practice your strategies without risking real money.
  • A social network that enables you to share your ideas, learn from experts, and access live streams and trade signals. You can also join chat rooms, follow other traders, comment on charts, and participate in contests.

If you want to try TradingView risk-free, you can sign up for a TradingView free trial to test out all of the premium features at no cost! When you use my affiliate link to register, you will also get a discount on your subscription.

tradingview banner

Overview of TrendSpider

TrendSpider is a great alternative to TradingView for those who want a more advanced platform with automated technical analysis tools and more charts per layout.

TrendSpider is a relatively new platform that aims to automate technical analysis and make it easier and faster for traders. It uses artificial intelligence and machine learning to draw trendlines, chart patterns, Fibonacci retracements, candlestick patterns, and more. It also allows you to create custom strategies and backtest them with historical data.

Some of the main features and benefits of TrendSpider are:

  • An advanced automated chart pattern recognition that draws trendlines, chart patterns, Fibonacci retracements, candlestick patterns, and more. You can also adjust the sensitivity and accuracy of the automation according to your preferences.
  • A no-code custom strategy builder and backtester that allows you to test different scenarios and optimize your trading performance. You can use predefined templates or create your own based on custom parameters.
  • A comprehensive technical screener that incorporates pattern recognition and multiple timeframes. You can scan for stocks that match your criteria across different timeframes simultaneously.
  • An alternative data integration that provides insights from social media sentiment, analyst estimates, dark pool volume, short volume, and more. You can use these data sources to complement your technical analysis and find hidden opportunities.
  • Proprietary raindrop charts

If you want to try TrendSpider out for free, you can sign up for a TrendSpider free trial, using my affiliate link!

trendspider banner

Factors to Consider Between TradingView & TrendSpider

Both TradingView and TrendSpider offer excellent features and benefits for traders of all levels and styles. However, there are some differences between them that you should consider before choosing one over the other. Here is a table comparing some key features of TradingView and TrendSpider:

Indicator Selection

Both TradingView and TrendSpider offer plenty of indicators for technical analysis. However, there are some differences in their indicator selection that might affect your trading style.

TradingView Indicator Selection

TradingView offers session volume profiles, which show the distribution of volume within a specific day. This is great for day traders who enjoy using volume or market profile.

svp

TradingView also has a large community of people creating custom indicators using Pine Script, which is a proprietary coding language that is easy to learn and use. You can find thousands of custom indicators on TradingView’s public library or create your own based on your needs and preferences.

TrendSpider Indicator Selection

TrendSpider only offers volume by price, which shows the distribution of volume across different price levels over several days. The volume by price can be anchored from anywhere on the chart, so technically, you can anchor it at the start of the day to simulate a session volume profile.

TrendSpider does not have a similar community custom indicator feature, but its team is a lot more responsive and knowledgeable about trading, reducing the need for the community aspect.

Backtesting

Backtesting is the process of testing your trading strategies with historical data to evaluate their performance and profitability. Both TradingView and TrendSpider allow you to create and backtest your own trading strategies with custom parameters.

TradingView Backtesting

TradingView allows you to manually backtest your strategies by applying them to the chart and seeing how they would have performed in the past.

You can also write your own trading strategies using Pine Script, which gives you more flexibility and control over your logic and rules.

You can then use TradingView’s strategy tester to analyze the results of your backtesting, such as net profit, drawdown, win rate, and more.

TrendSpider Backtesting

TrendSpider allows you to create your own trading strategies without coding using its no-code custom strategy builder. You can use predefined templates or create your own based on custom parameters, such as indicators, patterns, timeframes, and more.

You can then use TrendSpider’s automated backtester to test your strategies with historical data and see how they would have performed in the past. The backtester allows you to compare different strategies and optimize them based on various metrics, such as net profit, drawdown, win rate, and more.

Multiple Chart Abilities

TrendSpider allows you to view up to 16 charts per layout, which is more than TradingView’s non-professional plans, which only offer up to 8 charts per layout.

This can give you more flexibility and convenience when analyzing multiple markets or timeframes at once. However, if you need more than 8 charts per layout on TradingView, you can upgrade to a professional plan that offers up to 16 charts per layout.

Another difference is that TrendSpider allows you to sync your charts across different timeframes, which means that when you change the timeframe on one chart, it will automatically change on all the other charts in the same layout.

trendspidermultiplecharts
Trendspider 16 Charts in a Layout

This can help you keep your analysis consistent and save time when switching between timeframes. TradingView does not have this feature, but you can use its split-screen mode to view different timeframes side by side.

You can read this article to learn more about using TradingView multiple charts.

Stock Screeners

Both TradingView and TrendSpider offer excellent stock screeners that allow you to filter stocks based on various criteria. However, there are some differences in their stock screeners that might affect your trading results.

TradingView Screeners

TradingView offers a technical and fundamental screener that allows you to filter stocks by technical and fundamental criteria, such as price, volume, indicators, earnings, dividends, ratings, and more.

You can also use TradingView’s social network integration to find stocks that are popular or trending among other traders. You can access live streams, trade signals, chat rooms, and more from TradingView’s social network.

TrendSpider Screeners

TrendSpider offers a technical screener that incorporates pattern recognition and alternative data integration. You can filter stocks by technical criteria, such as indicators, patterns, timeframes, and more.

You can also use TrendSpider’s pattern recognition feature to find stocks that match specific chart patterns or candlestick patterns across multiple timeframes. Additionally, you can use TrendSpider’s alternative data integration to find stocks that have unusual options volume, high social media sentiment, positive analyst estimates, high dark pool volume, high short volume, and more.

Mobile App

Both TradingView and TrendSpider have solid mobile apps that make charting on the go relatively easy. However, the web platforms are, of course, much better in terms of functionality and features.

TradingView Mobile App

TradingView’s mobile app is available for iOS and Android devices. It allows you to access most of the features of the web platform, such as charts, indicators, drawing tools, and more. However, some features are not available on the mobile app, such as Pine Script editor, strategy tester, split screen mode, and more.

TrendSpider Mobile App

TrendSpider’s mobile app is only available for iOS devices. It allows you to access most of the features of the web platform, such as charts, indicators, drawing tools, screeners, pattern recognition, and more. However, some features are not available on the mobile app, such as strategy builder, backtesting, alternative data integration, and more.

Pricing

TrendSpider is slightly more expensive than TradingView, but it also comes with more features and real-time data at no additional cost. TradingView charges for real-time data on top of the subscription charge, although many popular ETFs like SPY are just barely 1 second delayed without paying on TradingView.

TradingView’s pricing starts from $14.95/month for the basic plan and goes to $59.95/month for the highest tier subscription.

However, these prices do not include real-time data for most markets. You have to pay extra charges for real-time data depending on the market you want to access.

TrendSpider’s pricing starts from $39/month for the standard plan and goes up to $179 per month for the highest tier

trendspiderpricing
Get a TrendSpider Free Trial

These prices include real-time data for most markets except futures. You have to pay extra charges for futures data depending on the exchange you want to access.

TradingView vs. TrendSpider | Bottom Line

TradingView and TrendSpider are both excellent platforms for charting, screening, and trading the financial markets. However, they have some differences that might make one more suitable for you than the other.

Ultimately, the choice between TradingView and TrendSpider depends on your personal preferences and trading goals. You can try both platforms for free for a limited time and see which one works better for you. Alternatively, you can use both platforms together to get the best of both worlds.

Check out my article about getting a TrendSpider free trial and a TradingView free trial for more information about signing up.

If you have made it this far, learn how to use our TrendSpider coupon code to get a discount on your subscription!

This article contains affiliate links for both TrendSpider and TradingView that I may be compensated for if you click and purchase a subscription from either. These affiliate links will provide you with a discount and support this website at no additional cost to you.

Related Articles

thinkorswim vs. tastytrade

TradingView vs. thinkorswim

Investing in Minecraft Stock

TrendSpider Raindrop Charts – How to Read Raindrop Charts

trendspider raindrop

Among TrendSpider’s innovative offerings, Raindrop Charts stand out as a revolutionary way to visualize price and volume data.

These charts offer a more advanced perspective compared to traditional charting methods by effectively blending the volume profile with candlesticks.

trendspider raindrop

Understanding Raindrop Charts

Unlike conventional candlestick charts, which focus on open, high, low, and close prices, Raindrop Charts incorporate volume into their visual representation.

Raindrop charts allow you to view advanced data like the VWAP and volume by price in a simpler way. Generally, the raindrop charts are best used on the daily timeframe.

How to Read Raindrop Charts

The raindrop consists of a few different aspects:

raindropdetail
  • Left dash: VWAP for the first half of the day
  • Right dash: VWAP for the second half of the day
  • High: The highest price of the day
  • Low: The lowest price of the day
  • Volume Shading: Shows volume activity by price

There are three different colored raindrops:

  • Green raindrop (Bullish): When the right dash is higher than the left
  • Red raindrop (Bearish): When the right dash is lower than the left
  • Blue raindrop (Neutral): When both dashes are at the same level
raindroptypes

Green raindrops indicate that buyers ended the day in control, signifying bullish momentum going into the next day. However, bulls should look for prior raindrops on the chart for potential resistance levels.

Red raindrops indicate the day ended with sellers in control, meaning the bearish momentum can continue to the next day. However, bears should look for prior raindrops on the chart to see potential support levels.

Blue raindrops show that neither buyers nor sellers were in control, which can lead to a big move in either direction.

Advantages of Using Raindrop Charts

  • Makes trend reversals easy to spot: The raindrop charts allow you to see trend reversals easily, especially when there are blue raindrops forming. Similar to doji candles, blue raindrops can lead to breakouts.
  • Allows you to see volume: Unlike traditional candles, raindrops show which prices get a lot of volume, which is crucial for determining specific levels of support and resistance.
  • Unique to TrendSpider: Raindrop charts were invented by TrendSpider and can very well be one of the best modern charting styles created in recent times.

Practical Application in Trading

Using Raindrop Charts effectively requires understanding their nuances. For instance, a Raindrop Chart with a larger “bulge” in the second half suggests a strong volume-supported price movement.

Traders can compare Raindrop Charts with traditional charts to validate their analysis, enhancing their decision-making process in both short-term and long-term trading strategies.

How to Activate TrendSpider Raindrop Charts

On the TrendSpider platform, navigate to the top left of the chart. Next to the timeframe, you will see the icon to change the chart to raindrop charts.

trendspiderraindropadd

TrendSpider Raindrop Charts – Bottom Line

Raindrop Charts by TrendSpider are a testament to innovation in financial charting. They offer traders a more nuanced and insightful view of the markets, combining the power of volume and price data.

If you aren’t already, you can sign up for TrendSpider free trial using my affiliate link to try out raindrop charts today!

trendspider banner

FAQs

What makes Raindrop Charts unique?

  • Raindrop Charts uniquely blend volume data with price action, offering a deeper insight into market sentiment.

Can Raindrop Charts be used for all types of trading?

  • Yes, they are versatile and can be adapted to various trading styles, including swing trading and day trading.

How do Raindrop Charts help in market analysis?

  • They assist in identifying potential trend reversals and breakout patterns, backed by volume data for added reliability.

Related Articles

How to Get a TrendSpider Free Trial

TrendSpider Discount Code

TrendSpider vs. TradingView

Disclaimer: Financial Tech Wiz is an affiliate of TrendSpider and will be compensated if you purchase a TrendSpider subscription using our link.

Trendspider Coupon Code 25% Off! – FTW25 (2024)

trendspider coupon code

Are you looking for a way to save money on your TrendSpider subscription? If so, you’re in luck.

I have a special TrendSpider coupon code that will give you a 25% discount on any plan.

All you have to do is use the code FTW25 when you sign up or upgrade your account.

This is an exclusive offer for my readers, so don’t miss this opportunity to get the best deal on TrendSpider.

trendspider coupon code

How to Get a TrendSpider Discount

TrendSpider is a powerful and innovative platform that helps traders with technical analysis, charting, and automation.

It offers a range of features and tools that can enhance your trading performance and efficiency. However, TrendSpider is not cheap.

Depending on the plan you choose, you can pay anywhere from $39 to $179 per month.

That’s why I’m happy to share with you my TrendSpider discount code that will save you 25% on any plan.

To get this discount, all you have to do is follow these simple steps:

  1. Click on this link to go to the TrendSpider website.
  2. Choose the plan that suits your needs and click on “Start Free Trial.”
  3. Fill in your personal details, and when prompted, enter the coupon code FTW25 in the box.
  4. Complete your registration and enjoy your 7-day free trial and discounted membership!

That’s it. You’ve just secured your TrendSpider discount for life. As long as you keep your subscription active, you’ll pay 25% less than the regular price.

Why Use TrendSpider for Technical Analysis?

TrendSpider is not just another charting platform. It’s a smart and automated system that can help you with technical analysis, market scanning, backtesting, and more. Here are some of the reasons why you should use TrendSpider for your trading:

  • Volume by price: TrendSpider allows you to see the volume distribution at different price levels, which can help you identify support and resistance zones, breakouts, and reversals.
  • Automated analysis: TrendSpider uses algorithms to detect trendlines, patterns, Fibonacci retracements, candlestick formations, and other technical indicators automatically. You can also customize the settings to match your own style and preferences.
  • Real-time data: TrendSpider includes real-time data for stocks, ETFs, forex, crypto, and futures in all plans. You don’t have to pay extra for data feeds or worry about delays or inaccuracies.
  • Dynamic price alerts: TrendSpider lets you set alerts based on various criteria, such as price movements, technical indicators, patterns, or even custom scripts. You can receive notifications via email, SMS, or browser when your conditions are met.
  • Automated trading bots: TrendSpider enables you to create and run trading bots that can execute your trades based on your rules. You can backtest your strategies, optimize your parameters, and monitor your performance.

These are just some of the benefits of using TrendSpider for technical analysis. There are many more features and tools that you can explore and use to improve your trading results.

TrendSpider Discount Code – Bottom Line

TrendSpider is a must-have platform for any serious trader who wants to take their technical analysis to the next level. It offers a unique combination of automation, intelligence, and customization that can help you find and exploit trading opportunities faster and easier.

If you want to get started with TrendSpider today, don’t forget to use my coupon code FTW25 to get a 25% discount on any plan.

You can also try TrendSpider for free for 7 days and see how it works for yourself. Just click here to claim your free trial and start using TrendSpider today.

Check out our other articles about TrendSpider, such as TrendSpider vs. TradingView and TrendSpider free trial.

Disclaimer: Financial Tech Wiz is an affiliate of Trendspider and will be compensated if you click our affiliate link or use the FTW25 coupon code and purchase a TrendSpider subscription.

How You Can Get a Trendspider Free Trial (2024)

trendspider free trial

Trendspider is a smart trading software that helps you find, plan, and time your trades with greater efficiency and precision.

It offers a unique set of integrated tools, such as smart charts, real-time scanners, robust backtesting, dynamic alerts, automated analysis, trading bots, and more.

trendspider free trial

Does Trendspider Offer Free Trials?

The good news is that Trendspider does offer a free trial that lasts for 7 days.

During this period, you can access all the features of the platform, depending on the plan that you choose.

You can also cancel your subscription at any time before the trial ends without being charged.

How to Get a Trendspider Free Trial

To get a Trendspider free trial, you can start by clicking on my affiliate link to go to the Trendspider website.

trendspider banner

There, you will see three subscription plans: Essential, Elite, and Elite Plus. Each plan has different features and prices, so you can compare them and pick the one that suits your needs and budget.

Next, you can select between paying monthly or yearly. You can get a discount when you pay annually, depending on the current Trendspider pricing.

After that, you will need to enter your information to create an account, such as your name, email address, password, and billing details. You will also need to agree to the terms of service and privacy policy.

trendspider contact info

Once you have completed these steps, you will be able to access the Trendspider platform and start using its features for free for 7 days.

You will also receive an email confirmation with your login details and instructions on how to use the platform.

Can I Use Trendspider For Free Without an Account?

If you are not ready to sign up for a free trial yet, you might be wondering if you can use Trendspider for free without an account.

The answer is that you cannot use the Trendspider charts or other features without an account. However, they do offer some free watchlists that you can access from their website.

trendspider free watchlists

These watchlists include insider buying, 52-week highs and lows, social sentiment, and more. You can use these watchlists to get some insights into the market trends and opportunities.

FAQ

How long is the Trendspider free trial?

The Trendspider free trial lasts for 7 days from the day that you sign up. You can cancel your subscription at any time before the trial ends without being charged.

Can I access all the features during the free trial?

Yes, you can access all the features of the platform during the free trial, depending on the plan that you choose. For example, if you choose the Elite Plus plan, you can access all the features of the Essential and Elite plans.

Is Trendspider better than TradingView?

Both TradingView and Trendspider are excellent platforms, and you can check out my article on Trendspider vs. TradingView for an in-depth comparison.

If you have made it this far, learn how to use our TrendSpider coupon code to get a discount on your subscription!

Disclaimer: Financial Tech Wiz is an affiliate of TrendSpider and will be compensated if you use our affiliate links to purchase a TrendSpider subscription.