TrendSpider is a web-based technical analysis platform founded in 2016 by Dan Ushman in Chicago, Illinois. It was built with a singular mission: to remove the subjectivity and manual labor from technical analysis by using algorithms to automatically detect patterns, draw trendlines, and identify support/resistance levels. For swing traders and technical analysts who spend hours manually drawing lines on charts, TrendSpider promises to do it faster, more consistently, and more accurately.
Unlike traditional charting platforms that provide tools for you to draw on charts, TrendSpider's algorithms analyze price data and automatically generate the analysis. This approach eliminates the common problem of two traders looking at the same chart and drawing completely different trendlines — TrendSpider's math-based detection produces consistent, reproducible results.
Core Philosophy: Automated Analysis
TrendSpider's approach is fundamentally different from platforms like TradingView or MetaTrader. While those platforms give you drawing tools and indicators to perform manual analysis, TrendSpider automates the analysis itself. The platform's algorithms scan price data to identify:
- Trendlines — Automatically detects and draws the most mathematically significant ascending and descending trendlines based on pivot points.
- Support & Resistance Levels — Identifies horizontal price levels where buying or selling pressure has historically been significant.
- Fibonacci Levels — Automatically places Fibonacci retracements and extensions based on detected swing highs and lows.
- Chart Patterns — Detects classic patterns like head and shoulders, double tops/bottoms, triangles, wedges, and flags.
- Candlestick Patterns — Identifies individual and multi-candle patterns (doji, engulfing, hammer, morning star, etc.).
Multi-Timeframe Analysis
One of TrendSpider's most powerful features is its multi-timeframe analysis capability. The platform can overlay trendlines and support/resistance levels from multiple timeframes onto a single chart. For example, you can view a 15-minute chart with daily and weekly trendlines superimposed, instantly seeing where short-term price action intersects with longer-term structural levels.
This is something that traders traditionally do by switching between timeframes and mentally noting key levels — a process that is time-consuming and error-prone. TrendSpider automates it completely, and the multi-timeframe overlays update in real-time as new data arrives.
Dynamic Price Alerts
Traditional price alerts are static — you set an alert at a specific price level, and you're notified when price reaches it. TrendSpider takes this concept further with dynamic alerts that can be attached to moving objects:
- Trendline Alerts — Set an alert on a sloping trendline. As the trendline moves over time, the alert level adjusts automatically.
- Moving Average Alerts — Get notified when price touches or crosses a specific moving average.
- Indicator Alerts — Trigger alerts based on indicator conditions (e.g., RSI crossing 30, MACD histogram turning positive).
- Multi-Condition Alerts — Combine multiple conditions into a single alert (e.g., "Price touches 50 EMA AND RSI < 40 AND volume > 2x average").
- Delivery Methods — Alerts can be delivered via email, SMS, push notification, or webhook (for integration with automated systems).
Raindrop Charts — Proprietary Innovation
TrendSpider's most unique innovation is the Raindrop Chart — a proprietary chart type that blends price action with volume data into a single, intuitive visualization. Each "raindrop" represents a time period and shows the volume-weighted distribution of price within that period, similar to a simplified Market Profile or Volume Profile condensed into a candlestick-like format.
The width of the raindrop at each price level indicates the relative volume traded there, while the color indicates whether the VWAP (Volume Weighted Average Price) is above or below the midpoint. This gives traders an instant visual read on whether buyers or sellers were more aggressive during each period — information that traditional candlestick charts don't convey.
Strategy Tester (No-Code Backtesting)
TrendSpider includes a visual, no-code strategy backtesting engine that allows traders to test trading ideas without writing a single line of code. You build strategies by selecting conditions from dropdown menus:
- Entry Conditions — "If RSI crosses below 30 AND price is above 200 SMA AND MACD histogram is positive..."
- Exit Conditions — "If price reaches 2:1 reward-to-risk OR RSI crosses above 70 OR trailing stop of 2 ATR is hit..."
- Position Sizing — Fixed dollar amount, percentage of equity, or risk-based sizing.
- Backtesting Period — Test across any available historical period.
- Results — Generates comprehensive statistics including win rate, profit factor, maximum drawdown, Sharpe ratio, and an equity curve.
While TrendSpider's strategy tester is excellent for validating simple to moderately complex strategies without coding, it cannot match the flexibility and precision of code-based backtesting in platforms like AmiBroker or MultiCharts. For complex portfolio strategies or tick-level precision, a dedicated backtesting platform is still necessary.
Market Data Coverage
| Asset Class | Coverage | Data Depth |
|---|---|---|
| US Stocks | All NYSE, NASDAQ, AMEX listed | 20+ years daily, 5+ years intraday |
| US ETFs | Comprehensive coverage | 20+ years daily, 5+ years intraday |
| Forex | Major, minor, and exotic pairs | 10+ years daily, 2+ years intraday |
| Crypto | Top 100+ by market cap | Varies by exchange, typically 3–5 years |
| Futures | Major US futures contracts | 10+ years daily, 2+ years intraday |
| International Stocks | Limited — primarily US-focused | Varies |
Pricing
| Plan | Monthly | Annual (per month) | Key Features |
|---|---|---|---|
| Essential | $33/mo | $22/mo | Automated trendlines, basic alerts, 1 chart per tab |
| Advanced | $57/mo | $38/mo | Multi-timeframe analysis, Raindrop charts, strategy tester |
| Elite | $87/mo | $58/mo | Everything + priority data, unlimited alerts, API access |
Pros and Cons
| Pros | Cons |
|---|---|
| Automated trendline and pattern detection | No order execution — analysis only |
| Multi-timeframe analysis on a single chart | Subscription-based with no lifetime option |
| No-code strategy backtesting | Limited international market coverage |
| Dynamic alerts on moving objects | Cannot replace code-based backtesting for complex strategies |
| Raindrop Charts are genuinely innovative | No API for custom development (except Elite tier) |
| Web-based — works on any OS | Can feel slow with many indicators on lower-end devices |
Who Should Use TrendSpider?
TrendSpider is ideal for swing traders and position traders who rely on technical analysis but want to save time and reduce subjectivity. If you spend hours drawing trendlines, identifying support/resistance levels, and scanning for patterns, TrendSpider can automate much of that work. It's also excellent for traders who want to backtest ideas but don't want to learn a programming language.
However, TrendSpider is not designed for day traders who need real-time order execution, nor for quantitative traders who need the flexibility of code-based strategy development. It's an analysis tool, not a trading platform — you'll still need a separate broker for execution.
Final Verdict
TrendSpider has carved out a unique niche by automating the most time-consuming aspects of technical analysis. Its automated trendline detection, multi-timeframe overlays, and no-code backtesting make it a genuine time-saver for technical traders. While it won't replace a full-featured trading platform, it's an excellent complementary tool that can significantly improve the efficiency and consistency of your analysis workflow.
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