TrendSpider vs TradingView: Ultimate Comparison 2023

If you’re taking trading seriously, you’ll need a powerful charting platform to develop trading ideas and monitor the markets with the most up-to-date information. Two of the leading charting platforms on the market today are TrendSpider and TradingView.

Both platforms allow you to analyze the price charts of cryptocurrencies and securities such as stocks in great detail with the help of powerful technical indicators. TrendSpider and TradingView have a lot in common and both are great choices for anyone that’s taking trading seriously and needs a powerful charting platform. However, the two platforms cater to slightly different categories of users and there are some key differences between the two.

In this comparison of TrendSpider vs. TradingView, we’ll highlight the most important features of each platform, with a special focus on how they differ in terms of features. We’ll also discuss other important aspects such as pricing and integrations with online brokers.

TrendSpider vs. TradingView — Side-by-side comparison

Before we begin with our comparison, let’s see how TrendSpider and TradingView stack up against each other based on the key features traders expect from charting software.

What do TrendSpider and TradingView have in common?

TrendSpider and TradingView are both extremely powerful platforms for analyzing price charts. Both platforms allow you to analyze charts with more than a hundred technical indicators, and provide a comprehensive set of drawing tools that allows users to visualize their trading ideas and strategies in great detail.

Both platforms offer a stock screener feature which automatically analyzes a large number of stocks and only highlights those who fit the criteria you select. 

In addition both TrendSpider and TradingView can be used for backtesting. This is a process where you can use historical price data to analyze how a specific trading strategy would have performed.

TradingView’s backtesting functionality is more powerful overall, but you need to know the platform’s PineScript programming language in order to get the most of it. Meanwhile, TrendSpider utilizes a no-code approach that is lower in complexity, but much easier to use. 

Both platforms can be used to analyze the stock and equities markets, forex markets, as well as cryptocurrency markets. However, TrendSpider only offers market data for U.S. stock, equities and ETF markets, while TradingView provides global coverage.

Another area where both TrendSpider and TradingView have powerful functionality is alerts that are triggered when a specified event in the market happens (for example, when the price of a stock crosses above a specified threshold).

TrendSpider allows users to receive trading alerts via text message, email, or even Webhooks (this means that you can connect alert to a chatbots, trading bots and more). TradingView allows users to set up alerts that trigger on very specific conditions, even based on what the user has drawn on a chart. Users can receive alerts via email, text message or Webhooks.

Another thing TrendSpider and TradingView have in common is that they both have mobile applications that serve as companions to their web platforms. 

TrendSpider vs. TradingView — Defining features

Now, let’s take a look at the distinguishing features of TrendSpider and TradingView to show you the areas in which each of the two charting software platforms excels.

TrendSpider

One of TrendSpider’s most distinguishing features is automated chart pattern analysis. For example, TrendSpider can automatically measure Fibonacci sequences, find trendlines, detect candlestick patterns, as well as support and resistance levels. The platform’s ability to automate what traders would otherwise have to do by hand can save you a lot of time, and focus on the actual analysis instead of clicking around the interface.

In addition, TrendSpider allows users to create and deploy trading bots without having to do any coding. The bots automatically follow trade entry and exit conditions defined in your strategy.

TrendSpider offers powerful market scanner functionality that produces an updated list of stocks that fit your selected criteria. You can define your criteria using technical indicators or market events such as upcoming earnings reports or analyst upgrades / downgrades. If you don’t want to set your own criteria, TrendSpider offers more than 70 market scanner presets that will allow you to instantly identify interesting trading opportunities.

TrendSpider also provides a proprietary chart style called the “raindrop chart” which is an alternative to the commonly used candlestick chart. The raindrop chart visually represents the volume profile and the average price weighted by volume. 

Another interesting feature of TrendSpider is that it provides a nice variety of alternative data, which you can use to get a different perspective of the market. This includes a news feed from Benzinga Pro, sentiment analysis based on Reddit posts, an unusual options flow tracker, as well as information about stock sales made by company insiders.

TradingView

In comparison to TrendSpider, which has close to no social functionality, TradingView can also serve as a social trading platform as it makes it very easy for members to share their trading ideas with each other and discuss stocks and important market events. If you like to discuss your moves with other traders and share your views on the market, choosing TradingView over TrendSpider is a no-brainer.

Another benefit of TradingView is that it offers tight integration with several stock brokers, forex trading platforms and cryptocurrency exchanges. This includes major players like Interactive Brokers, Binance and OANDA. Thanks to these integrations, you can connect  your broker or exchange account to TradingView and make trades directly using the TradingView interface.

You can stay on top of all the most relevant events in the global markets with TradingView’s economic calendar, which track the publication of inflation rate reports, central bank activity, key economic statistics and more.

A useful TradingView feature for beginners is simulated trading, which is sometimes referred to as “paper trading”. In this mode, users receive a virtual balance of $100,000 that they can use to trade and test out strategies. You can reset this virtual balance at any time if you want to start over again.

Market coverage

If you’re someone who likes to trade the international stock markets and not just U.S. stocks, TradingView is a much better choice than TrendSpider. This is because TrendSpider only offers stock, equity and ETF market data for the United States market (NASDAQ, NYSE, AMEX and OTC markets). 

Meanwhile, TradingView offers global coverage for stock markets, which includes stock exchanges across Europe, Asia, the Middle East, South America and other regions. 

If you’re primarily a cryptocurrency trader, both platforms are a good option as they source cryptocurrency price data from a variety of crypto exchanges. 

Custom indicators

If you have coding skills, TradingView might be a better option than TrendSpider since TradingView features their own programming language PineScript. With PineScript, you can create your own technical indicators and strategies that you can run on TradingView’s servers.

TrendSpider caters more to traders who don’t have coding skills, but the platform has been making moves to improve their custom indicator offering. In May of 2023, TrendSpider added JavaScript scripting capability to its platform, which allows users to program their own custom indicators. 

Pricing

The TrendSpider free trial only lasts 7 days, while TradingView users can use the platform for free indefinitely (with limited features).

At the time of writing, TrendSpider offers three paid plans:

• Essential: $32 / month
• Elite: $65 / month
• Elite Plus: $135 / month

However, TrendSpider offers discounts if you choose to buy a plan for an entire year instead of paying monthly. In this way, you can get a 30% discount on the Essential plan, a 40% discount on the Elite Plan, and a 50% discount on the Elite Plus plan.

Meanwhile, TradingView offers the following plans to paying subscribers:

• Essential: $12.95 / month 
• Plus: $24.95 / month
• Premium: $49.95 / month
• Ultimate: $499.95 / month

If you decide to buy an annual plan, you can pay with cryptocurrency, which is a nice perk for some users.

If you don’t want to pay for chart analysis tools, TradingView is an obvious choice over TrendSpider due to the latter’s short free trial plan and no free option.

The bottom line

Hopefully, our comparison of TradingView vs. TrendSpider helped you decide which of the two platforms is the best option for you.

If you put a lot of value on automatic chart pattern detection and the ability to create trading strategies without coding, TrendSpider is a clear choice over TradingView. If you value the ability to share and access trading ideas with a large community of traders and require international stock market data, you should go for TradingView.

Experienced traders who need advanced functionality will likely require a paid plan from either TrendSpider or TradingView. However, if you’re a newer trader that doesn’t require all the bells and whistles, TradingView is the clear winner since it can be used for free indefinitely (albeit with limited functionality). Meanwhile, TrendSpider only offers a 7-day free trial, after which you have to pay for the service if you want to continue using it.

If you’re interested in more topics related to stock trading, make sure to check out our list of the best stocks to buy right now.