Stock charting platforms have become an indispensable tool for traders of all skill levels. With the rise in retail trading over the past few years, choosing the right charting software has become more important than ever. Two of the most popular options are TradingView and TrendSpider. But which one is better suited for your needs?
In this comprehensive Tradingview vs Trendspider comparison, we'll evaluate the key features, pricing, strengths, and weaknesses of each platform to help you decide.
Overview of TradingView
TradingView is one of the most popular free stock charting and social networking platforms for traders. It was founded in 2011 and now has over 30 million monthly active users.
Some key features of TradingView include:
TradingView offers free access to charts, data and community forums. There are also paid subscriptions starting at $9.95/month for advanced features like more indicators, real-time data and SMS alerts.
Overall, TradingView appeals to a wide range of traders given its social components, flexibility and free plan. It's an excellent starting point for beginner traders.
Overview of TrendSpider
TrendSpider is a newer automated charting and analysis platform founded in 2016. It's focused purely on technical analysis features without any social aspects.
Some key features of TrendSpider include:
TrendSpider costs $27/month for stocks and ETFs, and $47/month for stocks, forex and futures. There is a 7-day free trial to test it out.
Overall, TrendSpider appeals to discretionary traders who rely heavily on technical analysis and want automated charting capabilities. The focus is efficiency and productivity.
Now let's compare TradingView vs TrendSpider across some key factors:
TradingView vs TrendSpider: Charting Capabilities
Both TradingView and TrendSpider offer robust charting capabilities including:
However, TrendSpider has the edge when it comes to automation. Some unique features include:
TradingView has a more social approach. You can publish charts and ideas, follow other traders, and embed charts in websites. TrendSpider focuses on enhancing individual workflow.
Overall, TrendSpider has more advanced analytical capabilities though TradingView offers plenty of flexibility.
TradingView vs TrendSpider: Screeners and Scanning
Finding trade opportunities is where these platforms differ significantly.
TradingView has a basic stock screener included with all plans. You can screen on fundamental data like valuation ratios, financial metrics, and technical factors like moving average crossovers, candlestick patterns etc.
TrendSpider takes screening to an advanced level with its AI-powered scanner. Some unique aspects include:
In addition, TrendSpider has proprietary indicators like the Sentiment Score and Seasonality charts to spot momentum and cyclical trends.
Overall, TrendSpider has superior scanning capabilities and trade idea generation tools compared to TradingView.
TradingView vs TrendSpider: Backtesting and Automation
Backtesting trading strategies is crucial to validate if they work.
TradingView allows backtesting through its Pine Script coding language. You can program a strategy and test it on historical data. However, Pine Script has a steep learning curve and is mainly used for creating indicators.
TrendSpider has simplified backtesting for all users. You can:
In addition, TrendSpider can automatically plot trendlines, chart patterns, support/resistance levels on any symbol. This automation saves significant time.
TradingView has basic automation through alerting but TrendSpider's automatic charting and simplified backtesting gives it the edge.
TradingView vs TrendSpider: Cost and Pricing
TradingView offers a free forever plan with basic charting capabilities. Their paid plans are:
TrendSpider is paid-only with two plan options:
Considering the advanced features and automation TrendSpider provides, its pricing is quite competitive. TradingView offers a low-cost entry for new traders, while TrendSpider is suited for experienced traders.
Use the free trial periods to evaluate the return on investment from upgrading to paid plans.
TradingView vs TrendSpider: Support and Ease of Use
TradingView and TrendSpider both have responsive support teams and extensive educational resources. TrendSpider provides dedicated onboarding and daily live training webinars which is excellent for new users.
In terms of ease of use, TradingView has a slight edge. The interface is more intuitive and layouts easier to customize. TrendSpider has an initial learning curve to understand its advanced functionalities that aren't common on other platforms.
But TrendSpider more than makes up for this with the automation benefits it provides such as automatic scanning, alerts and chart pattern recognition. These features can improve productivity exponentially once mastered.
Tradingview vs TrendSpider: Final Verdict
So which platform comes out on top in this Tradingview vs Trendspider comparison?
For most day traders and swing traders, TrendSpider wins out due to the advanced charting capabilities, automation benefits, scanning power and competitive pricing. The efficiency gains are significant once you customize the workflows.
However, TradingView is a better choice for casual or new traders given its intuitive interface, social features and free plan. It's easy to get started and interact with the trading community.
In summary:
Both platforms offer free trial periods so you can experience the features firsthand. Evaluate which one better matches your trading style, skills and goals.
To recap, here are some of the key differences highlighted in this Tradingview vs Trendspider comparison:
Now you have an in-depth overview of both platforms and their key strengths and weaknesses. Be sure to take advantage of the free trials so you can experience the features directly before committing.
FAQs About TradingView and TrendSpider
Is TradingView better than TrendSpider?
For most day traders and swing traders, TrendSpider is better due to its advanced charting and automation capabilities. But TradingView is a better choice for casual or new traders due to the intuitive interface, social features and free plan.
Does TradingView have a free plan?
Yes, TradingView offers a free forever plan that includes basic charting features, access to trading community and 1 server connection. Paid plans unlock more advanced functionality.
Can you trade directly on TradingView or TrendSpider?
No, TradingView and TrendSpider are charting platforms - they do not support direct trading or connecting to brokerage accounts. You analyze trades on these platforms and execute them on your broker platform.
Which platform has real-time data?
TrendSpider includes real-time data on all pricing plans whereas TradingView requires premium plans for real-time data. TrendSpider also has historical tick data.
How many technical indicators are available on each platform?
TradingView has over 100 built-in technical indicators. TrendSpider has around 60 indicators but also includes more advanced ones not found on TradingView.
Does TrendSpider have a paper trading or simulated trading feature?
Yes, TrendSpider recently launched paper trading and simulator features to practice trading strategies. TradingView does not currently offer paper trading capabilities.
Can you code trading strategies on TradingView or TrendSpider?
Yes, TradingView uses Pine Script to code custom indicators and trading strategies. TrendSpider lets you automate strategies through its backtesting tool without needing to code.
Which platform has better mobile apps?
TradingView generally has better rated mobile apps than TrendSpider. But TrendSpider mobile apps include key features like scanners, alerts, watchlists etc.
Is there a limit on chart windows for free TradingView users?
Yes, free TradingView users are limited to 2 chart windows. Paid plans allow more chart windows - up to 24 on premium plans. TrendSpider has unlimited chart windows.
Does TrendSpider connect to brokers or trading platforms?
Not directly, but TrendSpider alerts and scans can be configured to connect with some trading platforms like Tradovate, Sterling Trader, etc. to automate trades.
