TrendSpider Helps Traders Analyze and Monitor Complex Technical Setups with the Launch of Strategy Tester and Multi-Factor Alerts

CHICAGO, April 23, 2019 /PRNewswire-PRWeb/ -- TrendSpider, today announced the launch of backtesting capabilities and multi-factor alerts for its cutting-edge automated technical analysis platform.

The Strategy Tester helps active traders instantly backtest the performance of complex technical strategies. For example, active traders can define entry and exit rules based on candlestick patterns or technical indicators and see how the strategy would have performed in the past relative to a benchmark index. Successful strategies can be converted into a multi-factor alert in just a couple of clicks to help traders identify high-probability trading opportunities and potentially generate more consistent returns.

Multi-factor alerts enable active traders, market technicians and analysts to monitor multiple charts at the same time for complex conditions. For example, active traders can monitor relative strength index (RSI) values on multiple timeframes, and when those conditions are met, wait for a specific candlestick to form before sending an alert via email or SMS. By building trade confirmations into alerts, traders can automate more complex strategies than ever possible before.

"Profitable traders make up just 1.6 percent of the total, but account for 12 percent of all trading activity," says TrendSpider CEO, Dan Ushman. "Successful traders simultaneously use proven strategies and watch many different charts to take advantage of opportunities in real-time as they come up. The Strategy Tester and multi-factor alerts automate this process by eliminating the need to manually stare at charts and wait for trade setups to materialize—enabling anyone to catch trading opportunities like a pro."

Combined with its other automated analysis capabilities, TrendSpider is the only platform that gives traders everything they need to automate their strategies to cover more ground, find better setups and accurately time trades.

"Our platform aims to free traders from cognitive biases like emotion, social influence and FOMO, which contribute to money-losing trades," added Ruslan Lagutin, CTO of TrendSpider. "One way we do this is through our proprietary multi-time frame analysis (MTFA) technology, which combines data from different time frames on a single chart. This exposes hidden long-term trends that most users would miss. This capability is taken to the next level with multi-factor alerts, backtesting, and more."

TrendSpider's AI-powered technical analysis platform features:

• Automatic trendline detection
• Automatic Fibonacci measurements
• Candlestick pattern recognition
• S/R heatmap visualization
• Breakout detection
• Price gap detection
• Multiple timeframe analysis

TrendSpider supports real-time data for a wide range of tradable securities, including all U.S. equities and ETFs, over 300 cryptocurrency pairs, and over 900 forex pairs.

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About TrendSpider

TrendSpider is the world's first fully automated, all-in-one dynamic chart technical analysis software for active traders, market technicians and analysts. After two years of development, TrendSpider launched its platform in March 2018 and has attracted over 4,000 active traders.

TrendSpider also publishes an active blog called "A Better Way To TA", which features a range of posts curated by trading professionals to help new traders learn about technical analysis while becoming more efficient and effective in their daily activities.

SOURCE TrendSpider