Automated trend line analysis is one of the most powerful features in the TrendSpider platform. Rather than manually creating trend lines, the platform’s advanced algorithms can draw trend lines with mathematical precision.
There are several different settings that you can use to customize trend lines:
- Click on the … icon next to the Trends menu items in the top menu bar.
- Select the desired Analysis Type, Drawing Input and Islands (Gaps) settings.
- Click Apply.
Analysis Type changes how trend lines are built:
- Original is the most basic present and will show the lease number of trend lines on the screen. These trend lines will focus primarily on longer-term trends and represents the least trend sensitivity.
- Enhanced shows more trend lines than the Original setting, including both short- and long-term trends, and has the most trend sensitivity of the three options.
- Standard is a mix between Original and Enhanced that represents the TrendSpider team’s preferred formulas, which may change from time to time.
Drawing Input changes how the trend lines are drawn:
- Wick (H/L) will draw trend lines based on the absolute highs and lows for each period.
- Body (O/C) will draw trend lines based on the opening and closing prices for each period.
Islands (Gaps) lets you take gaps into account:
- Respect means TrendSpider will not draw trend lines across gaps since the gap could indicate the start of a new trend.
- Ignore means TrendSpider will ignore gaps in price and draw trend lines across them, connecting support and resistance.
Trend line filters enable you to fine-tune automated trend line analysis by visually scanning and locking pre-identified trend lines.
The Show Trends dropdown in the top menu bar offers three different options:
- Most Relevant filters out irrelevant trend lines by only displaying the top one percent on the chart.
- More Lines shows more trend lines that you might want to consider adding to the chart. You can add any interesting lines by double-clicking them or right-clicking them and selecting “Lock this trend line”. If you go back to Most Relevant, these trend lines will remain on the screen.
- All (Unfiltered) shows all possible trend lines based on the analysis settings. You can lock a trend line in place by double-clicking it or right-clicking it and selecting “Lock this trend line”. If you go back to Most Relevant, these trend lines will remain on the screen.