TrendSpider vs. TradingView: Detailed 2023 Characteristic Comparability

TrendSpider and TradingView are two of the most well-liked buying and selling instruments in the marketplace for a motive. Whereas the 2 platforms have their variations, every affords glorious performance to assist technical evaluation. On this article, we’ll consider what every device can supply merchants and assist you to resolve which platform is best for you.

Head-to-Head Comparability

To see how TrendSpider and TradingView measurement up with one another, we’ll first examine their competing options after which have a look at the value factors they provide. Then, we’ll give a fast abstract of every platform’s execs and cons earlier than diving right into a extra in-depth comparability.

Automated Chart Patterns	Sure, the principle focus of the platform	Sure, though considerably restricted
Free Trial	7 days	30 days
Group	Official Discord	Constructed-in neighborhood platform, together with reside streams, schooling, and commerce concepts
Information	Actual-time by means of Benzinga	“Information Move” aggregates many sources
Backtesting	Sure, with an automatic sample search	Backtesting executed with Pine Script language
Knowledge	Market knowledge, plus various knowledge	Normal market knowledge
Customized Indicators	Sure, created with JavaScript	Sure, created with Pine Script
Dealer Integration	No	Sure
Heatmaps	Sure, for particular value motion on charts	Sure, for markets as a complete
Markets	U.S. shares & futures, crypto, foreign exchange	U.S. shares & futures, int’l shares & futures, crypto, foreign exchange
Screener	Constructed-in neighborhood platform, together with reside streams, schooling, and commerce concepts	Sure, with elementary components
	Learn evaluate	Learn evaluate
	Go to Web site	Go to Web site

Pricing

Whereas TrendSpider has some options that TradingView lacks, these options come at a value. TrendSpider is costlier than TradingView at every competing tier. You’ll should resolve whether or not these options are essential to you.

	Value (Month-to-month)
TrendSpider Important	$39
TrendSpider Elite	$79
TrendSpider Elite Plus	$179

	Value (Month-to-month)
TradingView Fundamental	Free
TradingView Professional	$14.95
TradingView Professional+	$29.95
TradingView Premium	$59.95

Professionals & Cons

Whereas each platforms supply loads of options for technical merchants, these options don’t come with out sure drawbacks. Listed below are the most important execs and cons of every device.

TrendSpider Professionals & Cons

TradingView Professionals & Cons

TrendSpider vs. TradingView: Similarities

As we noticed within the comparability, TrendSpider and TradingView every supply some distinctive options to attract merchants to their respective platforms. Nonetheless, they aim the identical viewers, and so they have so much in widespread.

Charting

Glorious charting performance is important for any platform designed to assist with technical evaluation. Each TradingView and TrendSpider supply improbable charting methods that will help you research patterns, generate concepts, and time trades correctly.

Whereas every platform differs barely within the specifics, they each supply candlestick charts, superior drawing instruments, and a wealth of indicators primarily based on value or quantity motion. Whether or not you employ Fibonacci retracements, trendlines, or assist & resistance evaluation in your buying and selling, each TrendSpider and TradingView could have what you want.

As well as, each TrendSpider and TradingView have some type of automated pattern-seeking, which might help prevent time when searching for buying and selling alternatives. TradingView’s automated pattern-seeking appears restricted to just some very fashionable chart patterns. TrendSpider’s know-how is extra subtle, together with the flexibility to establish over 200 totally different candlestick patterns.

Every platform affords flexibility for chart layouts, which is ideal for customizing your setup to suit your distinctive buying and selling model. Moreover with the ability to arrange a number of charts side-by-side, each TrendSpider and TradingView help you view a number of timeframes throughout the identical chart, which might help contextualize doable patterns inside totally different time scales.

Buying and selling View chart

TrendSpider chart

Screening

Analyzing hundreds of charts individually to seek for one of the best commerce could be impractical. Fortunately, these two platforms embody screening performance to rapidly slender down doable alternatives.

TrendSpider’s screening is spectacular for the way in which it permits merchants to combine and match technical indicators to seek out the best setup. The visible interface permits you to mix components to simply establish distinctive alternatives – like, as an illustration, a selected bullish chart sample occurring on a inventory with excessive quantity and an upcoming earnings launch. This screening may be executed on complete inventory indices, particular crypto exchanges, and even on a customized watchlist of belongings.

Whereas TradingView’s screening options don’t supply the expansive technical performance of TrendSpider’s, TradingView makes up for it by together with higher elementary info. For example, TradingView permits customers to filter by stability sheet components just like the debt/fairness ratio or by revenue assertion components like EBITDA.

The power to combine elementary and technical info shall be fascinating to merchants who work with each knowledge units. In case you use elementary evaluation to resolve what to purchase and promote and technical evaluation to resolve when you’ll purchase and promote, this shall be an essential function.

Verdict: Whereas TradingView would possibly supply higher screening for merchants who take into account each technical and elementary components of their determination making, customers will discover nice worth within the screening and scanning performance on each platforms.

Alerts

Nice buying and selling alternatives don’t all the time happen if you’re sitting at your desk. Fortunately, each TradingView and TrendSpider supply alerts to tell merchants when particular conditions happen, wherever the dealer is likely to be.

Every platform permits customers to activate real-time alerts primarily based on value motion, technical indicators, or customized methods. The most typical technique to ship these alerts is through SMS or e mail, however every platform additionally has assist for webhooks, which opens up thrilling automation alternatives for superior merchants.

Webhooks enable a dealer to ping particular hyperlinks when an occasion happens. By connecting these hyperlinks to a dealer that accepts buying and selling through webhooks, superior customers can flip TrendSpider or TradingView into automated buying and selling instruments. Whereas most customers will really feel extra comfy coming into trades manually in the event you discover a profitable technique, each TrendSpider and TradingView might help you flip it into an automatic revenue machine.

Backtesting

On the finish of the day, even probably the most logically sound buying and selling technique must be examined out there to find out its worth. To that finish, each TrendSpider and TradingView supply entry to probably the most important instruments in a dealer’s belt: historic backtesting.

TrendSpider’s backtesting is good for merchants who wish to stand up and working rapidly because it lets customers outline a customized buying and selling technique with no coding required. Regardless of this simplicity, merchants can generate and check subtle buying and selling methods with TrendSpider, all expressed utilizing a sequence of logical situations.

In TradingView, utilizing backtesting requires studying the Pine Script language, which is used to outline customized methods. Whereas Pine Script is a reasonably simple language to study, this does create extra of a barrier to backtesting than TrendSpider’s no-code instruments. Nonetheless, as soon as a technique is ready up, the method is easy and strong. TradingView means that you can backtest methods in a number of other ways, together with a mode referred to as “Deep Backtesting”, which makes use of all historic knowledge for a selected image.

TrendSpider vs. TradingView: Variations

Whereas TrendSpider and TradingView share many essential options, merchants ought to pay attention to their variations earlier than deciding on one of many two platforms. Let’s briefly evaluate what units every device aside.

Pricing

Pricing is the obvious distinction between TrendSpider and TradingView, and it’s essential sufficient to benefit actual consideration.

Each TrendSpider and TradingView supply three paid tiers:

• For TradingView, these are priced at $14.95, $29.95, and $59.95 when paid month-to-month.
• For TrendSpider, the tiers are priced at $39, $79, and $179 when paid month-to-month.

In different phrases, at every membership degree, TrendSpider is greater than double the value of TradingView.

TradingView additionally has extra beneficiant free choices. TradingView’s free trial for any of its tiers is 30 days, whereas TrendSpider affords simply 7. TradingView has a free tier that customers can join immediately, though it comes with severely restricted options.

Verdict: Whereas merchants should resolve for themselves if TrendSpider’s options justify such a value distinction, newer merchants might discover the excessive value a major expense in comparison with their complete capital base, particularly if they aren’t possible to make use of TrendSpider’s extra superior options.

Dealer Integration

Some of the important benefits that TradingView has over TrendSpider is direct dealer integration. TradingView permits the mixing of many well-liked brokers, together with Interactive Brokers, TradeStation, and Alpaca.

Having direct dealer integration implies that TradingView can function an all-in-one buying and selling resolution, together with each evaluation and execution. For merchants who ceaselessly execute intraday transactions, the pace concerned in having an built-in dealer might be a major profit.

Verdict: As we talked about earlier than, although, each TradingView and TrendSpider do assist webhooks to automate buying and selling. Surprisingly, TradingView doesn’t assist automated buying and selling instantly by means of the dealer integration itself, so the system used to carry out automated buying and selling on both platform will truly find yourself trying fairly related.

📖 Study extra: In case you occur to be caught attempting to decide on a dealer for buying and selling shares, try our evaluate of the finest on-line brokers.

Group Options

Considered one of TradingView’s main attracts is its social platform, which is constructed proper into the device. TradingView has an lively neighborhood that ceaselessly shares commerce concepts, studying supplies, and technique scripts. As well as, there are dealer reside streams you’ll be able to watch in actual time, which might help newer merchants study from skilled veterans.

Any on-line social platform will definitely cope with some ineffective, deceptive, or impolite content material, however TradingView’s neighborhood platform does generate surprisingly good concepts and discussions. Nonetheless, some merchants may discover the neighborhood options distracting, so TrendSpider’s method, which retains its official Discord server separate from the platform, is likely to be most popular.  

Superior Performance

Whereas TradingView may need TrendSpider beat so far as value and neighborhood are involved, TrendSpider’s superior performance may show to be an actual distinction maker for skilled merchants.

Whereas each platforms embody instruments to create customized indicators, TrendSpider permits customers to enter extra depth. To create customized indicators on TrendSpider, customers should code in JavaScript slightly than the less complicated, proprietary Pine Script language that TradingView makes use of. Whereas JavaScript is harder to study, it’s also rather more basic, permitting customers to bypass the doable limitations of indicators made in Pine Script.

Moreover, TrendSpider payments itself because the foremost platform for automated chart sample recognition. Whereas TradingView does supply automated chart patterns as properly, it doesn’t combine these patterns into screening as TrendSpider does. TrendSpider’s method makes it doable to scan hundreds of belongings directly for a selected sample, serving to you discover one of the best alternatives extra rapidly. TradingView, however, solely means that you can seek for patterns on one chart at a time.

Heatmaps

Heatmaps are a tremendously helpful device for merchants, as they will translate numerical knowledge into visible knowledge, letting you see patterns far faster than you in any other case would possibly. Whereas each TradingView and TrendSpider supply some type of heatmaps, every platform’s method to doing so differs broadly.

TradingView affords heatmaps of markets as a complete, with the 2 principal focuses being the inventory market and the crypto market. Inside the inventory market heatmap, merchants can choose the everyday American exchanges or different worldwide ones. The heatmap is additional damaged down by sector, letting you simply spot market actions on the fly, which is very essential in case your technique depends upon volatility.

TrendSpider, however, tailors its heatmaps to concentrate on particular value motion. These heatmaps may be displayed instantly on the buying and selling chart and mechanically establish components like market depth, trendlines, and assist & resistance ranges. For merchants who would possibly have a look at tons of of charts a day, with the ability to rapidly visually interpret an important parts of a chart ought to pace up alternative evaluation considerably.

Markets and Knowledge

The ultimate principal distinction between the 2 platforms lies within the vary of assist for various markets and knowledge. For probably the most half, TrendSpider and TradingView assist the identical markets, however TrendSpider edges out TradingView with regards to various knowledge sources. Merchants ought to be aware that accessing most real-time knowledge by means of these platforms would require a further payment.

TrendSpider helps real-time inventory, crypto, futures, and foreign exchange knowledge, together with delayed index knowledge. The platform stands out for additionally providing some attention-grabbing various knowledge sources, which might be helpful for sure buying and selling methods. For example, TrendSpider grants customers entry to knowledge on uncommon choices order movement, the share of retail buying and selling exercise out there, and the overall darkish pool quantity for sure belongings.

TradingView additionally helps real-time inventory, crypto, futures, and foreign exchange knowledge, in addition to real-time index knowledge. Not like TrendSpider, TradingView additionally affords entry to a major variety of worldwide markets, together with Australian, Indian, and Japanese shares. Whereas the choice knowledge provided by TrendSpider is enticing, worldwide customers ought to rigorously take into account the markets to which they want entry.

Which One Ought to You Use?

TrendSpider and TradingView can each be nice options for merchants, however choosing the proper one for you’ll in the end rely in your private preferences and your distinctive buying and selling model. With that in thoughts, this part will break down which platform might be proper for particular customers, relying on the options they’re keen on.

Bear in mind, each TrendSpider and TradingView supply free trials, so we advise you to take every device out for a check run earlier than committing to both one.

TrendSpider is a improbable device for skilled merchants that want superior performance, however its excessive value is more likely to be off-putting for brand spanking new merchants. As well as, TrendSpider’s complexity comes with a value: the person interface is just not notably intuitive, and the platform may be tough to study. For inexperienced merchants who’re nonetheless studying the ins and outs of technical evaluation, studying TrendSpider is unlikely to be one of the best use of their time.

We can not ignore the superb sample recognition instruments that TrendSpider offers, notably in the way in which they’re built-in instantly with superior screeners. Whereas the platform would possibly take time to study, it’s best to take into account the time you would possibly save by having TrendSpider search hundreds of belongings for particular buying and selling alternatives within the blink of an eye fixed. TrendSpider’s in-depth backtesting instruments, which hyperlink properly to the platform’s no-code buying and selling methods, are an added draw.

Whereas TradingView can replicate a few of these options, its comparative simplicity is without doubt one of the principal causes it’s a extra well-liked device general than TrendSpider. Newer merchants could have a a lot simpler time getting up and working on TradingView. Furthermore, the neighborhood options, together with studying materials and reside streams from veteran merchants, dovetail properly with TradingView’s concentrate on the burgeoning technical analyst.

Nonetheless, some options of TradingView shall be key difference-makers for sure merchants. Non-US customers, particularly, are more likely to want TradingView because of the vary of worldwide markets the platform helps. As well as, merchants who wish to execute trades instantly from their evaluation program will want TradingView’s dealer integration.

In the end, there isn’t any one reply to which platform is healthier since merchants differ of their wants and wish. However with the steerage above, it’s best to have the ability to select the device that can finest assist you to succeed within the markets.