TrendSpider is a platform that allows all different types of traders to implement their own strategies with the different proprietary features that we have to offer. One of the coolest and newest features available in the platform is called “Trend Analysis Preferences” which allows users to change their trendline settings through a simple drop-down menu. This gives users more flexibility to see different chart views based on if they like the system more sensitive (fewer trendlines) or less sensitive (more trendlines). To learn more about this feature, check out our video and below and follow the step-by-step guide.
Setting Up “Trend Analysis Preferences”
This video explains how to start using the “Trend Analysis Preferences” feature as well as how to change the settings and experiment with the different trendline views available. As each trader has a slightly different strategy, each trendline setting will present a slightly different trendline perspective.
How to Set Up Trend Analysis Preferences in TrendSpider
1. Turn on Trends
In the top left corner of the screen, click the trends button. This feature is activated once it turns green.
Trendlines Not Activated:
2. Open Trend Analysis Preferences
Click the three vertical dots next to “Trends” to open the “Trend Analysis Preferences” window.
3. Manage Trend Analysis Preferences
Once you are in the “Trend Analysis Preferences” window, you have the ability to change the three variables by clicking the drop-down menu next to each.
4. Choose Analysis Type
Chose from Orginal, Enhanced, or Experimental. Each one of these will have different settings that the system takes into consideration.
The settings for each Analysis type can be found by going to “Advanced” on the bottom of the “Trend Analysis Preferences” window. You can view the settings for each analysis type under “Base Points” as well here.
5. Choose Drawing Input
Choose from Wick or Body. This takes into account which part of the candle the system starts the trendlines from. H/L stands for “high” and “low” (wicks of the candle) and O/C stands for “open” and “close” (body of the candle). Please see the video for more details!
6. Choose Island Preferences
You can choose for the system to either respect or ignore gaps on the chart which are what we call “islands”. See the video for more details about this term and how we look at it!
7. Apply Settings
As always, in order for the system to analyze the chart with any new setting changes, click apply!