You had 1 job WoTC

I wish they'd at least had the dignity to change the name to "Detect Traps," since this clearly does not find the traps.

Yeah, by this wording any weapon the party has would trigger this spell by RAW so its arguably even worse than before. 

It did that before too.

Good News: true strike has been buffed and reworked into a completely new spell and is no longer the worst spell in DND

Bad News: Find Traps has officially taken its place as most useless spell. 

I genuinely challenge anyone to find a time where this spell would be more useful than ritual casting detect magic to detect a magical trap, or just having a rogue/using a 10 foot pole to test for traps.

wotc please. one job guys.. one job..

So... WotC has decided that they need to waste space on shitty spells.  I'm going to houserule that this basically casts Faerie Fire on any purpose-set trap within range, regardless of Line Of Sight.  Will that break the game? No. Will it be OP? No. Will it be marginally useful? Sure.  Are traps a good thing for DMs to use in games? Only situationally. Mostly they're an excuse to roll dice and waste time. 

I think that the reason this spell is trash is because D&D 5e wants rogues and investigators to find the traps instead. 
I like your Faerie Fire idea, having it reveal the trap triggers. I will do that in the games that I run. I might also give it a duration, like an hour.

The name is a holdover from TSR's D&D. I am pretty sure it was a higher spell level back then. I suppose the nerf is so it does not negate skills such as Percenption and Investigation. Early D&D routinely had spells that negated the Thief class (now Rogue).

You sense any trap within range that is within line of sight. A trap, for the purpose of this spell, includes any object or mechanism that was created to cause damage or other danger.

Those that mean that anything  meant to harm you including  weapons (Swords Guns and anything else )  >:(

Interesting that Alarm qualifies as a trap. I'm guessing it falls under "other danger" considering that spell does not directly lead to damage. So danger of being detected qualifies. And apparently a spell cast on an area qualifies as either an "object" or "mechanism".

To that end similar spells that by the same logic would qualify:
Magic Mouth, Arcane Eye, Scrying

I suppose the general nature revealed would be "something that makes noise", or "something that enables someone to see you."

Still doesn't really make the spell worth preparing or expending a 2nd level slot over. Decent find as a spell scroll maybe.

Admiral Akbar was omnipotent then. 

Imagine, talking to your companions as a ranger.
"going to scout ahead.. i'll use something to find traps in this old ruin."

Comes back 5 mins later.
"so. are there traps?"
"yeah."
"where."
"i dunno."

"...what do you mean... you said you were going to use something to find the traps."
"I did."
"So where are the traps?"
"I know that they exist. just not where."
"so you didnt find the traps! You detected them.!"

"...So, where are the traps?"

"I dont know where, but they do exist. Somewhere."