Types of Automated Analysis

TrendSpider provides the traders with multiple automated technical capabilities to provide them a seamless trading experience that consumes less time, promotes discipline, and minimizes emotions. In this documentation, we will explore the types of automated analysis you can explore in TrendSpider.

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Automated Trends

TrendSpider can be set to automatically draw trend lines for traders based on the mathematical properties of the chart. Automated trend lines are drawn with mathematical precision and can help identify big-picture trends for the user.

Start by enabling Trends from the top toolbar. This instructs the platform to automatically draw trend lines from key points such as the highs, lows, opens, and closes.

Please refer to the documentation on Automated Trendline for more information.

Automated Trends.png

Automated Fibonacci

TrendSpider helps the traders by automatically calculating the high and low points for plotting the Fibonacci levels on them. With Automatic Fibonacci enabled, the system will calculate the most meaningful Fibonacci connection points on each timeframe while drawing a retracement.

Please refer to the documentation on Automated Fibonacci for more information.

Automated Fibonacci.png

Heatmaps

Traders can use Heatmaps to confirm or identify levels of interest on any chart on any timeframe using the chart visuals. Areas, where multiple Support & Resistance (S/R) levels clustering have been detected, will be automatically displayed in a brighter red (strong potential support/resistance) on the heatmap; while areas, where there was a little confluence, will not be shaded (or lightly shaded) to highlight the most likely path of least resistance for the price to travel.

Please refer to the documentation on Heatmaps for more information.

Heatmaps

Automated Anchoring

TrendSpider's Automated Anchored can automatically anchor to special points configured by you (i.e. to the "Highest High") or, when in non-continuous mode, it anchors to the most recent point that is a fit, enabling you to flip through charts with ease. You can easily add different anchored indicators for the highest high, lowest low, recent gaps, and other key levels and the charts will automatically update to provide you with a sophisticated support and resistance picture without the need to anchor each point manually on every chart.

Please refer to the documentation on Anchored Indicators for more information.

Automated Anchoring

Automated Candle Pattern Recognition

TrendSpider can automatically detect candlestick formations on any chart and timeframe, including single candlesticks and multi-candlestick patterns. Moreover, the system also instantly identifies any relevant candlestick patterns on the chart, highlights them, and adds a label. You can hover over any label to expand it and reveal the full name of the candlestick pattern.

Please refer to the documentation on Automated Candlestick Pattern Recognition for more information.

Automated Candle Pattern Recognition

Automated Gap Detection

TrendSpider makes it easy to identify gaps that occur when new information is priced into the market. While technical analysis reigns supreme when there’s no news, significant news events can have a dramatic impact on prices as the market determines a new valuation.

For example, an unexpected earnings report or buyout rumor could be enough to change a stock’s long-term trend. Short trades could be stopped and long trades may experience some profit-taking as shares trade hands. This means that any preexisting technical analysis may no longer be valid. TrendSpider recognizes these gaps and avoids drawing trend lines across price gaps, while islands are displayed alongside the bottom of the chart as colored bars.

Please refer to the documentation on Automated Gap Detection for more information.

Automated Gap Detection

Jun 22, 2022

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