Trade Ideas vs. TrendSpider – Which Platform Is Right For You?

Superior merchants depend on instruments like backtesting and scanning to develop fast-paced buying and selling methods and discover worthwhile setups. Two of the preferred platforms to assist merchants construct methods are Commerce Concepts and TrendSpider.

Each buying and selling platforms use synthetic intelligence (AI) to seek out alternatives and pace up buying and selling selections. Each additionally supply highly effective instruments for technique testing, autotrading, and extra. Nevertheless, the 2 companies are essentially totally different—Commerce Concepts is firstly a inventory scanner, whereas TrendSpider is primarily a charting platform.

In our Commerce Concepts vs. TrendSpider comparability, we’ll take a more in-depth have a look at these two buying and selling platforms that can assist you resolve which is healthier for you.

About Commerce Concepts and TrendSpider

Commerce Concepts was based in 2003. On the time, it was one of many solely real-time inventory scanners constructed for day merchants. The platform has continued to innovate, incorporating AI into its scans and constructing dozens of ready-made inventory screens that merchants can leap into in seconds. Commerce Concepts is extensively standard amongst merchants, though the service doesn’t reveal what number of customers it has.

TrendSpider launched in 2018. It stands out for utilizing machine studying algorithms to mechanically plot trendlines, candlestick patterns, and different indicators on technical charts. Since launching, TrendSpider has added options for scanning, autotrading, backtesting, and extra. The service has greater than 10,000 customers.

Similarities

Commerce Concepts and TrendSpider share many central options. Each platforms allow you to design customized buying and selling methods and backtest them utilizing historic market information. Each platforms additionally embrace inventory scanners and technical charts. Each platforms assist brokerage integrations and allow you to automate your buying and selling technique.

Nevertheless, there are vital variations in how these options work in apply between the 2 companies. Let’s take a more in-depth look. 

Commerce Concepts vs. TrendSpider: Markets

One vital distinction between Commerce Concepts and TrendSpider instantly is that they provide information for various markets. Commerce Concepts solely covers shares, whereas TrendSpider helps shares, foreign exchange, cryptocurrencies, and futures. So, you should use TrendSpider to develop and backtest methods for foreign currency trading, whereas that isn’t attainable in Commerce Concepts.

Commerce Concepts vs. TrendSpider: Technique Improvement

Commerce Concepts and TrendSpider each supply complete lists of technical parameters that can assist you construct customized buying and selling methods.

In Commerce Concepts, you may select from a listing of parameters that embrace value and quantity adjustments, technical indicator occasions, trendline crosses, and rather more to outline a method. It’s pretty simple to decide on the parameters that matter to you and assign them as triggers within the context of your technique.

The method for constructing a method in TrendSpider is comparable, however barely extra versatile. TrendSpider lets you group combos of parameters and logicals as “scripts,” which you’ll then use as constructing blocks inside a buying and selling technique. You additionally get a wider vary of technique entry and exit controls for managing your danger. For instance, you may exit a commerce in TrendSpider in case your revenue is lower than a specific amount after a sure variety of candles has handed.

One other key benefit of TrendSpider is that there are numerous parameters based mostly on the platform’s AI technical evaluation capabilities. We’ll cowl these in additional element beneath, however TrendSpider’s auto-analysis lets you construct methods round, for instance, a inventory’s value crossing a trendline or the formation of a selected candlestick sample.

Commerce Concepts vs. TrendSpider: Technique Backtesting

Each Commerce Concepts and TrendSpider allow you to backtest your customized methods utilizing historic information. Backtesting may be very quick in each platforms and lots of the technique efficiency information you get is comparable.

Nevertheless, Commerce Concepts stands out for its technique optimization view. You possibly can see how delicate your profitability is to every parameter in your technique and shortly optimize your technique to attain most profitability. TrendSpider permits you to instantly evaluate profitability for 2 variations of your technique, but it surely doesn’t supply an identical sensitivity evaluation that can assist you resolve which parameters to tweak. It’s a must to experiment by trial and error.

One benefit TrendSpider has is you can view your technique’s entry and exit factors on a technical chart. This makes it loads simpler to see what’s occurring and guarantee your technique works such as you count on it to. Commerce Concepts doesn’t offer you a option to visualize your technique in motion.

Commerce Concepts vs. TrendSpider: Scanners

Commerce Concepts is primarily a inventory scanner, so it excels at this function. You should use any of your methods as scans and the platform is ready up with the intention to monitor many scans without delay. You can even arrange an alerts feed to inform you about new hits from a number of scans working within the background.

Commerce Concepts additionally comes with dozens of built-in scans and dashboards, which it calls “channels.” The channels embrace ready-made layouts with scans, momentum visualizations, and extra for particular methods and market sectors.

Scanning seems like a secondary function in TrendSpider. The scanner is designed to function a sidebar subsequent to your technical charts and doesn’t embrace color-coding or accompanying visualizations like in Commerce Concepts. You can even solely run as much as six scanners without delay. There are dozens of built-in scans, however they’re typically easier than those that Commerce Concepts comes with.

Commerce Concepts vs. TrendSpider: AI Options

Commerce Concepts and TrendSpider each incorporate AI, however in very other ways.

Commerce Concepts has an AI nicknamed “Holly” that scans the market every evening utilizing greater than 60 totally different buying and selling methods. It makes use of backtesting to determine probably the most worthwhile methods for the present market circumstances, then identifies a number of dozen commerce concepts based mostly on these methods. In the course of the subsequent buying and selling day, these concepts are offered within the type of actionable commerce indicators full with entry, exit, and cease loss circumstances.

TrendSpider makes use of AI to mechanically determine patterns on technical charts. You possibly can mechanically plot trendlines, Fibonacci retracements, candlestick patterns, and extra. Helpfully, you’ve got a good quantity of management over how delicate the algorithm is. You can even plot trendlines throughout a number of timeframes and examine all of them on a single chart.

TrendSpider’s computerized sample recognition is available in particularly helpful when growing methods and scans. For instance, you may construct a method based mostly on a inventory’s value crossing an mechanically plotted trendline.

Commerce Concepts vs. TrendSpider: Brokerage Integrations and Autotrading

Commerce Concepts and TrendSpider each allow you to automate your technique to execute trades. Commerce Concepts presents integrations with Interactive Brokers and TradeZero. TrendSpider has a sister software program, SignalStack, that you should use to show your methods into bots and hook up with most main brokers. SignalStack requires a separate subscription beginning at $27 monthly for 50 month-to-month executions.

Commerce Concepts vs. TrendSpider: Pricing

Commerce Concepts prices $84 monthly (paid yearly) for its scanning options. If you would like AI-generated commerce indicators or brokerage integrations, you’ll must buy a Premium subscription for $167 monthly.

TrendSpider begins at $20.80 monthly (paid yearly), however this limits you to scanning on each day timeframes and solely permits you to view as much as 25 scan outcomes. Most merchants will want the Elite plan, which prices $24.70 monthly.

Which Platform Is Higher?

Commerce Concepts and TrendSpider are each excellent platforms with a ton of options to supply merchants. Which is healthier comes right down to what you want in a buying and selling platform.

For those who primarily desire a inventory scanner, we advocate Commerce Concepts. The pre-built scans are extraordinarily actionable and the platform is clearly constructed that can assist you discover concepts throughout a number of methods in a fast-paced market setting.

Commerce Concepts can also be an amazing choice in order for you ready-to-trade concepts from the Holly AI algorithm. Whereas entry to Holly is pricey, these commerce concepts might help you notice worthwhile alternatives past these you discover utilizing your personal customized methods.

TrendSpider is the higher alternative for merchants who need an all-in-one charting platform, technique growth software program, and scanner. The principle focus is on charting and technical evaluation moderately than scanning, though TrendSpider additionally does a superb job of serving to you construct and take a look at customized methods.

TrendSpider is considerably cheaper than Commerce Concepts, which is a significant plus for merchants who’ve restricted capital. Remember that you’ll must pay for SignalStack as properly if you wish to automate your trades.

Alternate options to Commerce Concepts and TrendSpider

Probably the greatest options to Commerce Concepts and TrendSpider is TradingView. TradingView is an especially highly effective and customizable charting platform that additionally features a inventory scanner and technique backtesting software. It lacks the AI options of both Commerce Concepts or TrendSpider, but it surely’s additionally less expensive—plans begin at solely $12.95 monthly.

Another choice to contemplate is Scanz, previously generally known as EquityFeed. It is a real-time inventory scanner constructed for merchants in the identical vein as Commerce Concepts. It’s considerably simpler to make use of than Commerce Concepts and presents a built-in information scanner in addition to Degree 2 inventory information. Scanz prices $169 monthly.

Conclusion: Commerce Concepts vs. TrendSpider

Commerce Concepts and TrendSpider are highly effective buying and selling platforms that leverage AI that can assist you discover worthwhile alternatives out there. Commerce Concepts is primarily centered on inventory scanning, whereas TrendSpider covers a wider vary of property and presents automated technical evaluation along with scanning.

Take a look at our full Commerce Concepts evaluation and our full TrendSpider evaluation to study extra about these platforms.