TrendSpider vs. TradingView: Detailed 2023 Characteristic Comparability

TrendSpider and TradingView are two of the most well-liked buying and selling instruments available on the market for a purpose. Whereas the 2 platforms have their variations, every presents glorious performance to help technical evaluation. On this article, we’ll consider what every device can provide merchants and allow 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 evaluate their competing options after which take a look at the value factors they provide. Then, we’ll give a fast abstract of every platform’s professionals and cons earlier than diving right into a extra in-depth comparability.

Automated Chart Patterns	Sure, the primary focus of the platform	Sure, though considerably restricted
Free Trial	7 days	30 days
Group	Official Discord	Constructed-in group platform, together with stay streams, training, and commerce concepts
Information	Actual-time by Benzinga	“Information Move” aggregates many sources
Backtesting	Sure, with an automatic sample search	Backtesting completed with Pine Script language
Knowledge	Market knowledge, plus different knowledge	Customary 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 group platform, together with stay streams, training, and commerce concepts	Sure, with elementary elements
	Learn assessment	Learn assessment
	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 dearer than TradingView at every competing tier. You’ll need to resolve whether or not these options are vital to you.

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

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

Execs & Cons

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

TrendSpider Execs & Cons

TradingView Execs & Cons

TrendSpider vs. TradingView: Similarities

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

Charting

Glorious charting performance is crucial for any platform designed to assist with technical evaluation. Each TradingView and TrendSpider provide unbelievable charting methods that will help you examine patterns, generate concepts, and time trades correctly.

Whereas every platform differs barely within the specifics, they each provide 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 help & resistance evaluation in your buying and selling, each TrendSpider and TradingView can have what you want.

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

Every platform presents flexibility for chart layouts, which is ideal for customizing your setup to suit your distinctive buying and selling fashion. Moreover with the ability to arrange a number of charts side-by-side, each TrendSpider and TradingView mean you can view a number of timeframes inside the identical chart, which may also help contextualize attainable patterns inside totally different time scales.

Buying and selling View chart

TrendSpider chart

Screening

Analyzing 1000’s of charts individually to seek for one of the best commerce can be impractical. Fortunately, these two platforms embody screening performance to shortly slim down attainable alternatives.

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

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

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

Verdict: Whereas TradingView would possibly provide higher screening for merchants who contemplate each technical and elementary elements of their resolution making, customers will discover nice worth within the screening and scanning performance on each platforms.

Alerts

Nice buying and selling alternatives don’t at all times happen while you’re sitting at your desk. Fortunately, each TradingView and TrendSpider provide alerts to tell merchants when particular conditions happen, wherever the dealer could be.

Every platform permits customers to activate real-time alerts primarily based on value motion, technical indicators, or customized methods. The most typical method to ship these alerts is through SMS or e-mail, however every platform additionally has help 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 getting into trades manually for those who discover a profitable technique, each TrendSpider and TradingView may also help you flip it into an automatic revenue machine.

Backtesting

On the finish of the day, even essentially 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 provide entry to some of the very important instruments in a dealer’s belt: historic backtesting.

TrendSpider’s backtesting is right for merchants who need to rise up and operating shortly because it lets customers outline a customized buying and selling technique with no coding required. Regardless of this simplicity, merchants can generate and take a look at subtle buying and selling methods with TrendSpider, all expressed utilizing a collection of logical circumstances.

In TradingView, utilizing backtesting requires studying the Pine Script language, which is used to outline customized methods. Whereas Pine Script is a reasonably straightforward language to be taught, this does create extra of a barrier to backtesting than TrendSpider’s no-code instruments. Nonetheless, as soon as a method is about up, the method is straightforward and sturdy. TradingView lets you 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 particular image.

TrendSpider vs. TradingView: Variations

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

Pricing

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

Each TrendSpider and TradingView provide 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 presents simply 7. TradingView has a free tier that customers can join straight away, though it comes with severely restricted options.

Verdict: Whereas merchants must resolve for themselves if TrendSpider’s options justify such a value distinction, newer merchants could discover the excessive value a big expense in comparison with their whole capital base, particularly if they don’t seem to be doubtless to make use of TrendSpider’s extra superior options.

Dealer Integration

One of the vital 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 regularly execute intraday transactions, the velocity concerned in having an built-in dealer could possibly be a big profit.

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

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

Group Options

One in all TradingView’s main attracts is its social platform, which is constructed proper into the device. TradingView has an lively group that regularly shares commerce concepts, studying supplies, and technique scripts. As well as, there are dealer stay streams you possibly can watch in actual time, which may also help newer merchants be taught from skilled veterans.

Any on-line social platform will definitely take care of some ineffective, deceptive, or impolite content material, however TradingView’s group platform does generate surprisingly good concepts and discussions. Nonetheless, some merchants might discover the group options distracting, so TrendSpider’s method, which retains its official Discord server separate from the platform, could be most popular.  

Superior Performance

Whereas TradingView might need TrendSpider beat so far as value and group are involved, TrendSpider’s superior performance might show to be an actual distinction maker for knowledgeable 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 quite than the less complicated, proprietary Pine Script language that TradingView makes use of. Whereas JavaScript is tougher to be taught, it’s also rather more normal, permitting customers to bypass the attainable limitations of indicators made in Pine Script.

Moreover, TrendSpider payments itself because the foremost platform for automated chart sample recognition. Whereas TradingView does provide automated chart patterns as nicely, it doesn’t combine these patterns into screening as TrendSpider does. TrendSpider’s method makes it attainable to scan 1000’s of belongings without delay for a particular sample, serving to you discover one of the best alternatives extra shortly. TradingView, alternatively, solely lets you 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 notice patterns far faster than you in any other case would possibly. Whereas each TradingView and TrendSpider provide some type of heatmaps, every platform’s method to doing so differs extensively.

TradingView presents heatmaps of markets as a complete, with the 2 primary focuses being the inventory market and the crypto market. Throughout the inventory market heatmap, merchants can choose the standard 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 particularly vital in case your technique depends upon volatility.

TrendSpider, alternatively, tailors its heatmaps to deal with particular value motion. These heatmaps will be displayed immediately on the buying and selling chart and routinely establish elements like market depth, trendlines, and help & resistance ranges. For merchants who would possibly take a look at lots of of charts a day, with the ability to shortly visually interpret crucial components of a chart ought to velocity up alternative evaluation considerably.

Markets and Knowledge

The ultimate primary distinction between the 2 platforms lies within the vary of help for various markets and knowledge. For essentially the most half, TrendSpider and TradingView help the identical markets, however TrendSpider edges out TradingView in relation to different knowledge sources. Merchants ought to be aware that accessing most real-time knowledge by these platforms would require a further charge.

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 different knowledge sources, which could possibly be helpful for sure buying and selling methods. As an 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 presents entry to a big 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 contemplate the markets to which they want entry.

Which One Ought to You Use?

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

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

TrendSpider is a unbelievable device for knowledgeable 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 price: the person interface isn’t significantly intuitive, and the platform will be tough to be taught. 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, significantly in the way in which they’re built-in immediately with superior screeners. Whereas the platform would possibly take time to be taught, it is best to contemplate the time you would possibly save by having TrendSpider search 1000’s of belongings for particular buying and selling alternatives within the blink of a watch. TrendSpider’s in-depth backtesting instruments, which hyperlink nicely 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 among the primary causes it’s a extra well-liked device general than TrendSpider. Newer merchants can have a a lot simpler time getting up and operating on TradingView. Furthermore, the group options, together with studying materials and stay streams from veteran merchants, dovetail nicely with TradingView’s deal with the burgeoning technical analyst.

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

Finally, there isn’t a one reply to which platform is best since merchants differ of their wants and need. However with the steerage above, it is best to have the ability to select the device that may finest allow you to succeed within the markets.