Updated: Nov 18
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.
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.
Overview of TrendSpider
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!
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:
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.
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 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 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 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.
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.
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 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 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.
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.
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
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.
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.