Stock Screener is a software built to help traders find stocks based on their specific criteria. Stock screener for day trading is very essential. It helps day trader to narrow down the list of thousands of existing stocks become a smaller list of equities that match their criteria. There are free stock screeners that every day trader can use every time.
To use stock screeners, day traders need to apply a number of filters. The popular filters are chart patterns, trading volume, stock price, volatility, and recent performance.
A stock screener is different from scanners. Scanners help traders to constantly monitor stocks by the real-time stock data. While screeners are for traders who will not trade on that current moment situation.
Here is the list of top stock screeners.
StockFetcher.com
StockFetcher can be a little bit complicated, but one you get used to it, it even allows you to create your own stock screens. Traders only need to type the specific formats that they want. There is almost an infinite number of filters that can be applied in this screener.
StockFetcher lets traders see five stocks for each search result. That number should be sufficient for day traders to find the best stocks for them.
You can see the full search results with the upgraded version which will cost you $8.95 each month.
Finviz.com
To use Finviz you just need to add criteria in each of the three biggest sections, descriptive, fundamental, and technical. Then you will get the list of stocks that match your criteria directly. To adjust the view, traders just need to change the information.
Finviz uses delayed data. But, if you want the real data, you can upgrade the account that will cost you $39.50 per month.
ChartMill.com
Chartmill allows traders to find stocks based on criteria, like price, volume, performance, and technical indicators. Unlike the previous two screeners, ChartMill uses a credit system.
Each month a trader will get 6,000 credit. Running the scanner will cost the trader a couple of hundred credit. Once the credits are gone, traders still can use the site, but only with a limited number of features.
If a trader has used all of the credits, he or she can buy it in blocks of 10,000 for $10. Or else, traders can upgrade their account to unlimited usage. That will cost $29.97 per month.
However, for the maximum use of stock screeners, use this screener each night, once a day, or once on the weekend. That way you can avoid burnouts and poor performance.
Besides, focus on trading two to three stocks during a trading session or week. You will stay alert and make the purchase and sell of stocks at the right time.
