Complete Trendspider vs. Tradingview Breakdown for Hassle-Free Trading Plans

Jan. 2, 2025

Author: Bitcoin Magazine Pro Team

When analyzing Bitcoin price charts, choosing the right tools makes all the difference. The key to executing analysis and trading strategies that align with your objectives is finding a platform that matches your skill level and needs. In this article, we compare TrendSpider and TradingView to help you confidently choose the best option for your Bitcoin analysis. We will also touch upon what is Bitcoin halving and how to use it in your advantage.

Bitcoin Magazine Pro's Bitcoin analysis offers a valuable solution for traders who want to streamline their chart analysis and improve their trading strategies. Using our analysis, you can uncover actionable insights to help you achieve your trading goals.

What Do Trendspider and Tradingview Have In Common?

If you take 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 Bitcoin 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 taking trading seriously and who needs a powerful charting platform. However, the two platforms cater to slightly different categories of users, with some key differences between them.

TrendSpider and TradingView Share Powerful Technical Functionalities

TrendSpider and TradingView are both compelling platforms for analyzing price charts. Both platforms allow you to analyze charts with over a hundred technical indicators and provide a comprehensive set of drawing tools that will enable users to visualize their trading ideas and strategies in great detail. 

Both platforms offer a stock screener feature that automatically analyzes many stocks and only highlights those that fit your selected criteria. 

Comparing TrendSpider and TradingView for Backtesting and Market Analysis

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 to get the most out of it. 

TrendSpider utilizes a no-code approach that is less complex but much easier to use. Both platforms can analyze the stock, equities, forex, and Bitcoin markets. TrendSpider only offers market data for:

  • U.S. stock
  • Equities
  • ETF markets

While TradingView provides global coverage. 

Alerts and Notifications Keep Traders on the Ball

Another area where both TrendSpider and TradingView have powerful functionality is alerts triggered when a specified event in the market happens (for example, when the price of a stock crosses a specified threshold). TrendSpider allows users to receive trading alerts via text:

  • Message
  • Email
  • Webhooks

You can connect alerts to:

  • Chatbots
  • Trading bots and more

TradingView allows users to set up alerts that trigger particular conditions, even based on what the user has drawn on a chart. Users can receive alerts via:

  • Email
  • Text message
  • Webhooks 

Mobile Applications for Trading on the Go 

Another feature TrendSpider and TradingView have in common is that they have mobile applications that connect to their web platforms.

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In-Depth TrendSpider vs.TradingView for Optimized Charting Solutions

TrendSpider TradingView

 

Automated Chart Patterns

Yes, the main focus of the platform

Yes, although somewhat limited

Free Trial

7 days

30 days

Community

Official Discord

Built-in community platform, including live streams, education, and trade ideas

News

Real-time through Benzinga

“News Flow” aggregates many sources

Backtesting

Yes, with an automated pattern search

Backtesting done with Pine Script language

Data

Market data, plus alternative data

Standard market data

Custom Indicators

Yes, created with JavaScript

Yes, created with Pine Script

Broker Integration

No

Yes

Heatmaps

Yes, for specific price action on charts

Yes, for markets as a whole

Markets

U.S. stocks & futures, Bitcoin, forex

U.S. stocks & futures, int’l stocks & futures, Bitcoin, forex

Screener

Built-in community platform, including live streams, education, and trade ideas

Yes, with fundamental factors

 

How Do TrendSpider and TradingView Compare on Price?

TrendSpider and TradingView have both similarities and differences to consider. Each platform has its own tiered pricing system based on monthly subscriptions, and TrendSpider tends to be more expensive than TradingView. 

The monthly prices for TradingView's three paid tiers are:

  • $14.95
  • $29.95
  • $59.95

TrendSpider's tiers start at $39, which is more than double the price of TradingView. Moreover, TradingView offers a free tier, while TrendSpider does not. Instead, it has a free trial that lasts only 7 days, compared to TradingView’s 30-day free trial. Ultimately, your choice will depend on the specific features you may need.

TrendSpider vs. TradingView: What are the Pros & Cons of Each?

TrendSpider Pros & Cons 

Pros

  • Advanced automated chart pattern recognition.
  • The no-code custom strategy and backtesting.
  • Excellent technical screener with pattern recognition built in.
  • Alternative data sources.
     

Cons

  • No broker integration.
  • Complex user interface.
  • The big learning curve for new traders.
  • No international markets.

TradingView Pros & Cons

Pros

  • Community platform featuring plenty of learning materials.
  • Screening that includes fundamental information.
  • Direct broker integration.
  • Support for many international markets.

Cons

  • Backtesting requires proprietary language.
  • Only basic market data sources.
  • Tools may be too simple for experienced traders.

What Are the Similarities Between TrendSpider and TradingView?

TrendSpider and TradingView each offer some unique features to draw traders to their respective platforms. Still, they target the same audience and have much in common.

Charting

Excellent charting functionality is essential for any platform designed to help with technical analysis. TradingView and TrendSpider offer fantastic charting systems to help you properly study patterns, generate ideas, and time trades. 

While each platform differs slightly in the specifics, they offer candlestick charts, advanced drawing tools, and a wealth of indicators based on price or volume action. Whether you use Fibonacci retracements, trendlines, or support & resistance analysis in your trading, both TrendSpider and TradingView will have what you need. 

Automated Pattern Recognition and Chart Customization: TrendSpider vs. TradingView

TrendSpider and TradingView have some form of automated pattern-seeking, which can help save you time when looking for trading opportunities. TradingView’s automated pattern-seeking seems limited to just a few popular chart patterns. TrendSpider’s technology is more sophisticated, including the ability to identify over 200 different candlestick patterns. 

Each platform offers flexibility for chart layouts, perfect for customizing your setup to fit your unique trading style. Besides setting up multiple charts side-by-side, both TrendSpider and TradingView allow you to view multiple timeframes within the same chart, which can help contextualize possible patterns within different time scales. 

Screening

Analyzing thousands of charts individually to search for the best trade would be impractical. These two platforms include screening functionality to narrow possible opportunities quickly. TrendSpider’s screening is impressive because it allows traders to mix and match technical indicators to find the ideal setup. 

The visual interface lets you combine factors to easily identify unique opportunities, such as a specific bullish chart pattern on a high-volume stock and an upcoming earnings release. This screening can be done on entire stock indices, specific Bitcoin exchanges, or even on a custom watchlist of assets. 

Integrating Fundamental and Technical Analysis: TradingView vs. TrendSpider

While TradingView’s screening features do not offer the expansive technical functionality of TrendSpider’s, TradingView makes up for it by including better fundamental information. For instance, TradingView allows users to filter by balance sheet factors like the debt/equity ratio or income statement factors like EBITDA. 

Integrating fundamental and technical information will benefit traders working with both data sets. This will be an important feature if you use fundamental analysis to decide what to buy and sell and technical analysis to decide when you will buy and sell. 

Alerts

Great trading opportunities don’t always occur when you’re sitting at your desk. TradingView and TrendSpider offer alerts to inform traders when specific situations occur, wherever the trader might be. Each platform allows users to activate real-time alerts based on price action, technical indicators, or custom strategies. 

Leveraging Webhooks for Automation: TrendSpider and TradingView

The most common way to deliver these alerts is via SMS or email, but each platform also has support for webhooks, which opens up exciting automation opportunities for advanced traders. Webhooks allow a trader to ping specific links when an event occurs. 

By connecting these links to a broker that accepts trading via webhooks, advanced users can turn TrendSpider or TradingView into automated trading tools. While most users will feel more comfortable entering trades manually if you find a winning strategy, TrendSpider and TradingView can help you turn it into an automated profit machine. 

Backtesting

Even the most logically sound trading strategy must be tested in the market to determine its value. TrendSpider and TradingView offer access to one of the most vital tools in a trader’s belt: historical backtesting. 

TrendSpider’s backtesting is ideal for traders who want to get up and running quickly since it lets users define a custom trading strategy without coding. Despite this simplicity, traders can generate and test sophisticated trading strategies with TrendSpider. All are expressed using a series of logical conditions. 

Backtesting Strategies: TradingView's Pine Script vs. TrendSpider's No-Code Approach

Using backtesting requires learning the Pine Script language, which is used to define custom strategies. While Pine Script is a fairly easy language to learn, this creates more of a backtesting barrier than TrendSpider’s no-code tools. 

The process is simple and robust once a strategy is set up. TradingView allows you to backtest strategies in several different ways, including a mode called “Deep Backtesting,” which utilizes all historical data for a specific symbol. 

What Sets TrendSpider and TradingView Apart?

While TrendSpider and TradingView share many important features, traders should be aware of their differences before settling on one of the two platforms. Let’s briefly review what sets each tool apart. 

Pricing

Pricing is the most obvious difference between TrendSpider and TradingView, and it’s significant enough to merit real consideration. Both TrendSpider and TradingView offer three paid tiers. 

For TradingView, these are priced at:

  • $14.95
  • $29.95
  • $59.95 when paid monthly

For TrendSpider, the tiers are priced at:

  • $39
  • $79
  • $179 when paid monthly

In other words, at each membership level, TrendSpider is more than double the price of TradingView. TradingView also has more generous free offerings. 

TradingView vs. TrendSpider: Pricing and Accessibility for New Traders

TradingView’s free trial for any tier is 30 days, while TrendSpider offers just 7. TradingView has a free tier for which users can sign up immediately, although it has severely limited features. 

While traders will have to decide if TrendSpider’s features justify such a price difference, newer traders may find the high price a significant expense compared to their total capital base, especially if they are not likely to use TrendSpider’s more advanced features.

Broker Integration

One of the most significant advantages that TradingView has over TrendSpider is direct broker integration. TradingView allows the integration of many popular brokers, including Interactive Brokers, TradeStation, and Alpaca. Direct broker integration means that TradingView can serve as an all-in-one trading solution, including analysis and execution. 

For traders who frequently execute intraday transactions, the speed involved in having an integrated broker could be a significant benefit. As we mentioned before, though, both TradingView and TrendSpider do support webhooks to automate trading. TradingView does not support automated trading directly through the broker integration itself, so the system used to perform automated trading on either platform will look similar. 

Community Features

One of TradingView’s major draws is its social platform, which is built right into the tool. TradingView has an active community that frequently shares trade ideas, learning materials, and strategy scripts. In addition, there are trader live streams you can watch in real-time, which can help newer traders learn from experienced veterans. 

Any online social platform will undoubtedly deal with useless, misleading, or rude content, but TradingView’s community platform generates surprisingly good ideas and discussions. Still, some traders could find the community features distracting, so TrendSpider’s approach might be preferred, which keeps its official Discord server separate from the platform.  

Advanced Functionality

While TradingView might have TrendSpider beat as far as price and community are concerned, TrendSpider’s advanced functionality could prove to be a real difference-maker for experienced traders. While both platforms include tools to create custom indicators, TrendSpider allows users to go more in-depth. To create custom indicators on TrendSpider, users must code in JavaScript rather than the simpler, proprietary Pine Script language that TradingView uses. While JavaScript is more difficult to learn, it is also much more general, allowing users to bypass the possible limitations of indicators made in Pine Script. 

TrendSpider bills itself as the foremost platform for automated chart pattern recognition. While TradingView also offers automated chart patterns, it does not integrate these patterns into screening as TrendSpider does. TrendSpider’s approach makes scanning thousands of assets at once for a specific pattern possible, helping you find the best opportunities more quickly. TradingView, on the other hand, only allows you to search for patterns on one chart at a time. 

Heatmaps

Heatmaps are a tremendously valuable tool for traders, as they can translate numerical data into visual data, letting you spot patterns far quicker than you otherwise might. While both TradingView and TrendSpider offer some form of heatmaps, each platform’s approach differs widely. TradingView offers heat maps of markets as a whole, with the two main focuses being the stock market and the Bitcoin market. In the stock market heatmap, traders can select typical American or international exchanges. The heatmap is further broken down by sector, letting you easily spot market movements on the fly, which is especially important if your strategy depends on volatility. 

TrendSpider tailors its heatmaps to focus on specific price action. These heatmaps can be displayed directly on the trading chart and automatically identify factors like market depth, trendlines, and support & resistance levels. For traders who look at hundreds of charts a day, interpreting the most essential elements of a chart quickly visually speeds up opportunity analysis significantly. 

Markets and Data

The final main difference between the two platforms lies in the range of support for different markets and data. TrendSpider and TradingView support the same markets, but TrendSpider edges out TradingView regarding alternative data sources. Traders should note that accessing most real-time data through these platforms will require an additional fee. 

TrendSpider supports:

  • Real-time stock
  • Bitcoin
  • Futures
  • Forex data
  • Delayed index data

The platform also offers some interesting alternative data sources, which could be valuable for certain trading strategies. 

TrendSpider grants users access to unusual options order flow data, the percentage of retail trading activity in the market, and the total dark pool volume for certain assets. TradingView also supports real-time stock, Bitcoin, futures, forex, and index data. Unlike TrendSpider, TradingView also offers access to many international markets, including:

  • Australian
  • Indian
  • Japanese stocks

While the alternative data offered by TrendSpider is attractive, international users should carefully consider the markets to which they need access. 

Which One Should You Use?

TrendSpider and TradingView can be great solutions for traders, but choosing the right one for you will ultimately depend on your preferences and unique trading style. With that in mind, this section will break down which platform could be right for specific users, depending on the features they’re interested in. 

TrendSpider vs. TradingView: Choosing the Right Tool for Your Trading Needs

TrendSpider and TradingView offer free trials, so we advise you to take each tool out for a test run before committing to either one. TrendSpider is a fantastic tool for experienced traders who need advanced functionality, but its high price will likely be off-putting for new traders. TrendSpider’s complexity comes with a cost. The user interface is not intuitive, and the platform can be difficult to learn. For inexperienced traders still learning the ins and outs of technical analysis, learning TrendSpider is unlikely to be the best use of their time. 

We cannot ignore the excellent pattern recognition tools that TrendSpider provides, particularly in how they are integrated directly with advanced screeners. While the platform might take time to learn, you should consider the time you save by having TrendSpider search thousands of assets for specific trading opportunities in the blink of an eye. TrendSpider’s in-depth backtesting tools, which link well to the platform’s no-code trading strategies, are an added draw. 

Why TradingView Appeals to New and International Traders

While TradingView can replicate some of these features, its comparative simplicity is one of the main reasons it is a more popular tool overall than TrendSpider. Newer traders will have a much easier time getting up and running on TradingView. The community features, including learning material and live streams from veteran traders, dovetail with TradingView’s focus on the burgeoning technical analyst. 

Some features of TradingView will be key difference-makers for certain traders. Non-US users will likely prefer TradingView due to the range of international markets the platform supports. In addition, traders who want to execute trades directly from their analysis program will need TradingView’s broker integration. 

There is no one answer to which platform is better since traders differ in their needs and want. But with the guidance above, you should be able to choose the tool that will best help you succeed in the markets.

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