Traditionally, looking for trading opportunities was a mundane and time-consuming task. Traders had to spend several hours daily looking for the hottest stocks to invest in. They had to go through the balance sheet, profit and loss statements and notice other patterns in financials for all listed companies. In this post learn about stock screeners to gain knowledge around this.
But now, the task of identifying stocks that will perform well in the future takes a few minutes only due to stock screeners/ scanners. You can simply apply filters and set your preferred metrics, and the screener will prepare a scan list accordingly. This helps you identify potential stocks and increases your chances to book more profits.
Option screeners nowadays are connected to a data feed and can check stock trading opportunities in real-time. In addition, they provide the overall picture of past stock performance and where it stands among its competitors. So, active traders can use them to identify the potential setups for short-term positions.
A stock screener is a tool that can identify and separate trading instruments like stocks listed by various companies on a stock exchange that fulfill certain metrics. The filter criteria to estimate future performance are specified by the traders and investors.
The tangible parameters can include dividend ratio, market capitalization, growth rate, average volume, volatility, price to earnings ratio (P/E), average return on investment, debt to equity ratio and other indicators.
Market screeners display ratings and metrics to help traders and investors reach a suitable decision and prepare trading strategies accordingly. In addition, by analyzing several stocks at once, users can immediately remove stocks that do not meet their requirements.
Screeners can be technical, fundamental, or a hybrid of both. Technical indicators can include moving average, relative strength index (RSI) range, and so on. However, most screeners do not cover qualitative parameters like customer satisfaction, lawsuits, and the like. Nevertheless, they are present on popular trading platforms and screener websites.
Some of the best stock screeners that are powerful and can assist Indian traders and investors in day trading are:
Trade-Ideas helps traders with pre-trade analysis by providing them insights into the historical information of each stock. However, traders don’t need to go through all this information, this screener automates the screening process for them.
Users can select their preferred trading style and the real-time screener will generate stock lists based on the same.
Trade-Ideas Pricing: Trade-Ideas offers two paid plans, Standard and Premium, starting from ₹6942.81 per month.
TradingView web-based screener can generate customized stock sheets based on a trader’s preferences of valuation, dividends, balance sheet, and more. The stock list comes with multiple metrics including price, CHG, market cap, technical rating, sector, employees, etc.
All these metrics help traders in better stock selection. In addition, stock lists can also be exported in a CSV file for sharing purposes. In fact, traders can also choose the currency and country they want to trade in.
TradingView Price: TradingView comes with three pricing plans – Pro, Pro+, and Premium starting from ₹1295 per month. Moreover, traders can also opt for a 30-day free trial.
Tickertape technical stock screener for day trading offers advanced screening features that include multiple custom filters, 15+ MF & 60+ Stock pro filters, premium MF & stock screens, and more. This futuristic option screener comes with prebuilt screens and even allows you to customize it using filters like profitability, liquidity, market ratios, debt, etc., in just seconds.
Additionally, Ticker Tape also offers ETFs (Exchange-Traded Funds), mutual funds, stocks, and indices. There are numerous stock filters such as sector, market capitalization, close price, and more applicable on a single tab. Users can further customize the results based on their needs.
Ticker Tape Price: Tickertape pricing starts from ₹249 per month. It also comes with a 14-day free trial.
MoneyControl stock screener informs you about the top picks of the day for Intraday trading and all-time winning stocks. You will be able to see the company name, shareholders, and their percentage for every stock.
Moreover, users can screen all the stock holdings including government, non-promoter corporate, promoter, institutional, FII, public, and more. In addition to this, the MoneyControl screener also shows a shareholding tracker which shows an increase, decrease or any other changes in shareholdings.
MoneyControl Price: The pricing starts at INR 129 per month (INR 49 currently for a limited period). There are yearly plans available too.
Real-time scanning works during trading days at a fixed time. Sectors available include energy, consumer staples, information technology (IT), financials, healthcare, industrials, and so on.
Traders can now get new trading ideas with CapitalCube’s stock screen. Pre-built screens save the time in scanning a company for its past performance, profits over the years, dividends, and other technical factors.
In fact, traders can also customize the screening parameters for every stock for an in-depth company analysis. This can be done by creating a new screen with custom metrics like accounting quality, market cap, price performance, previous day closing price, and more.
The fundamental data is gathered from FactSet financial database. The search is quite simple, and navigation is easy. It saves research time by suggesting stocks to traders and investors. The platform offers stock and ETF research also.
Pricing of Capital Cube: Pricing is available on request. A free trial is available.
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Through Investing.com, traders can know the trending stocks along with the most active, top losers, gainers, and other high and low stocks. Users can generate these results based on different filters like technical, fundamental, performance, and candlestick patterns.
Investing screener offers other filters such as dividends, ratios, price, fundamentals, and volume. In addition, this NSE screener provides charts and quotes and the latest news and other information related to each company.
Traders can make their lists more specific by using filters like country, sector, exchange, equity, dividend yield, and more.
Inesting.com Price: Investing.com’s paid plans are available starting from ₹371.11 per month.
With Screener.in, traders can create their own screens based on some popular investing themes like debt reduction, capacity expansion, growth without dilution, etc. You can also access popular pre-built screens that include FII buying, magic formula, the bull cartel, the highest dividend yield shares, etc.
Along with this, traders can also download screens, create multiple watchlists, create up to 50 columns for comparisons, and even set screen alerts.
Sreener.in Price: It is available under a free plan for hobbyists. The premium plan starts at INR 4,999 per year.
Edelweiss stock screener is an offering from one of the most popular brokerage houses in India. It can be used by both beginners and seasoned traders/ investors. The mobile app helps traders make decisions on the go.
It provides the latest information on most active stocks, sector performance, previous weeks’ highs and lows, and much more.
Pricing: Screener is available for free in both Lite and Elite plans.
Trendlyne is a multi-query livestock screener that comes with 1000+ parameters. The screener can also sort the stocks into different categories like highest returns, live results, DVM, delivery, etc.
You can easily access some pre-built screeners like high momentum, PE sell zone, companies benefiting from the government, etc., along with the number of stocks in each list. Users can also set alerts for each pre-built screener and even save them to have quick access.
It gives updates on top losers and gainers, new highs and lows, and other relevant data for intraday trading. It also providers investment details for FII and DII investors.
Trendlyne Price: Trendlyne comes with three paid plans – Basic, Guruq, and Stratq starting from ₹119 per month.
MoneyWorks4Me offers pre-defined screeners to traders along with screeners created on parameters like sector, price, industry, rating, and others. For each stock, you will get detailed information in terms of price change, CMP, ROE, sales growth in the last 5 years, and more.
After picking the potential stocks, traders can directly place orders from the stock screener. Users can also check whether a stock is worth investing in with colour codes. For example, green indicates very good stocks, yellow denotes moderate, and red shows that you should not invest in them.
MoneyWorks4Me Pricing: This option screener comes with one year subscription that starts from ₹7,999 onwards.
Fatafat stock screener helps traders to screen relevant data points for intraday trading. Other than intraday, Fatafat screener also offers positional trading with various breakouts like closing range, candle pattern, live trend reversal, BTST screening, and more.
In fact, you can also conduct EOD analysis using swing up setups, volume and 3 days price combo, and lot more.
It is powered by the Google Apps framework to start real-time screening. There are numerous parameters for comparison, like opening gaps, current market price, percent deviation in price, and various others.
The screener also features informative videos and tutorials that can help beginners and experienced traders make the best use of screening features.
Fatafat Screener Pricing: It offers a free/ Lite version. The Premium version starts at INR 999 per month.
Chartink India offers numerous types of scans to traders and investors, including fundamental, candlestick screener, intraday bullish, intraday bearish, crossover, and so on. In addition, you can choose from a wide range of technical indicators like MACD, RSI, ADX, SMA, EMA to get accurate and fast scans.
In the premium version, traders can get live alerts every minute, week, and month on desktop, email, and SMS. Moreover, you can also customize the columns of scanned results according to your preferred metrics.
Chartink Pricing: Custom stock market screeners by Chartink India are free of cost. Pricing of premium subscriptions for scan alerts starts at INR 780 per month.
Investello Investing conducts a detailed screening with multiple metrics like debt equity ratio, PEG ratio, 5 years average ROE & NPM, PE valuation, market cap, pledged shares, and more. Users can customize these valuation metrics to find some of the best stocks based on fundamental analysis and research.
Investello Pricing: It offers a free signup feature. Pricing for the premium plan is available on request.
With Google Finance stock screener, traders can compare stock markets across countries like India, US, and Europe, and identify the potential one to invest in. On the homepage, Google Finance will show you a list of stock that are performing good. Other than this, you can also use filters and trends to create your own watchlist.
Some of the prominent features include RSI, MACD, moving average, price, volume, Bollinger bands, MFI, among others.
Google Finance Price: The app is available for free. There are in-app purchases.
Ticker, by Finology helps traders find the best stock for themselves by accessing a comprehensive list of 52 stocks of week highs and lows. You can also check which stocks were the top gainers and losers. In addition to this, users can also conduct stock analysis on industry-suggested standard parameters.
Ticker By Finology Price: The Ticker by Finology pricing is available on request on its official website.
Intraday Screener enables traders to conduct a 360-degree analysis of the stock market so that they can choose the best ones. The screener also offers a Futures dashboard that helps users track all the Options and Futures stocks for long buildup, short covering, long unwinding, etc.
Further, using the screener you can also create stock watchlists for the next day.
Intraday Screener Price: The stock screener offers a free forever plan. However, its paid plans start from ₹699 per month.
Steps to use stock screeners and get maximum output are:
Getting started: Create an account and choose a trading platform after proper research. Some platforms offer free in-built screeners while in other cases, you use them separately. Select the option screener that fulfills your requirements. Many screeners provide customization options too. The idea is to keep it simple but useful.
Check chart patterns: Pick one or two chart patterns, do backtesting and master them. You will be able to anticipate where the odds are in your favor and better determine stop-loss and take-profit levels.
View technical Indicators: Technical indicators take price and volume data from the chart and show traders the parameters set by them.
Plan the timeframe: Plan timeframe according to your strategy and goals when setting filters. All the parameters should be selected for the same timeframe.
Prefer high volume stocks: Trading stocks with high volume means you will find enough buyers and sellers active in the market.
Do your own research: Never trust stock promoters blindly. Do proper research based on the latest news, company announcements, and more.
Maintain a trading journal: Maintain a record of your trades, including your thinking process for the stock selection via screeners. Analyze it based on your wins and losses. Use it to help you improve your trading strategy and ability.
Create stock watchlist: Track stocks that you believe have potential across different market sectors on screeners. Then, do your research on these stocks to decide better when the market opens.
Stock screeners have the database of thousands of companies listed on the stock markets. Different option screeners have different criteria for filtering, although commonly used indicators are present on major platforms.
When a trader or an investor uses a option screener, he or she will choose a set of variables with defined values. For example, you can screen all companies and get the ones with a market capitalization above INR 1 billion. The screener searches through the database and lists the stocks of all companies that fulfill the mentioned criteria.
You can view charts and other data analysis for individual stocks and start trading the ones you want one by one.
There are over five thousand companies listed on the Indian stock exchange market. To begin with online equity trading, users need a demat account.
Although several screeners help a user choose the right stock for investing money, what screener suits you the best depends on your budget, trading style and strategy, technological requirements, and much more. Some generic things to look for in Indian stock screeners or stock scanners are:
Operating platform: For desktop screener applications, more computing power is required. If you do not have access to a powerful computer, it is better to use a web-based stock screener.
Budget: With numerous screeners in the market, the budget range is vast. Some screeners cost thousands, while others may be free or have a pay-as-you-go subscription model. Free versions may come with ads but can be great for beginners.
Technical expertise: Check the learning curve. Some screeners require deep statistical knowledge as well as programming skills. Others require users to begin with just a few buttons.
Industry-specific: For users searching for stocks in a particular industry, it is necessary to know if they are covered in the screener database. There may also be blind spots where a few companies in that sector show up under a certain user-defined profile.
Metric coverage: A good screener enables users to search stocks for any set of variables during quantitative analysis. But with so many possible combinations of factors affecting a stock, it is crucial to know what criteria you want to use. Some screeners have predefined variables like a set market cap, all-time high stock prices, optimal P/E range, and others to assist the investors and traders.
Update schedules: Ensure that your screener has been updated so that the data is relevant and up-to-date. Different screeners can update at different times.
The intraday trading analysis involves keeping up with stocks in real-time when the market is open. Analysis can require looking for stock above 100 periods moving average, biggest movers of the day, and so on.
By immediately locating market trends as they occur, traders can easily jump onto the price highs and lows. This means that the selected stock scanner must be robust and able to analyze data rapidly. Common features of stock scanners for intraday trading are:
Real-time scanning: Traders must get a live view of market happenings. For this they need access and rapid, real-time connection to Indian equity markets. There are two main stock exchanges in India- the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). So, look for BSE and NSE stock screeners.
Paper or demo trading: Many screeners provide features like paper trading to help traders develop their skills without the risk of losing money.
Watchlists: Most stock scanners for intraday trading have watchlists of various stocks, sectors, and other market niches.
Database: Scanners must have accurate information on company profiles and other details to ensure proper research.
Customizable scans: Scanners provide options for a single rule, multi-rule, and variable scans. Users can save the scans they want and run them anytime. Some scanners even have preconfigured scans like crossovers and gappers in the library.
Stock Types: Popular scanners allow scanning for various stock categories like foreign stocks, regular securities, bankrupt stocks, etc.
Technical and fundamental filters: Technical indicators and variables can include moving average convergence divergence (MACD), statistical charts like Bollinger bands, and so on. Share structure, market capitalization, financials, and similar other filters are a part of fundamental variables. Traders must be careful of false trading signals and use those proven to be best over the years.
Price variables: Scanner libraries offer a wide range of price filters like net change, percent change, opens/closes, the last price, bid-ask, and much more.
Auto sorting: Automatically sort the stocks based on their liquidity and volatility.
Downloads: Analysis results of any scan can be downloaded in CSV and other supported formats.
Make the Right Move with Technical Screeners for Indian Stocks
Technical screeners for Indian stocks are more suitable for shorter-term traders as they provide future pricing forecasts and volume trends based on the latest chart patterns.
These intraday screeners are more suitable for shorter-term traders as it provides future pricing forecasts and volume trends based on latest chart patterns. While fundamental factors are suitable to select the companies, technical factors are important for day-to-day entry or exit prices.
Intraday trading using technical analysis involves stock screening, chart scanning, and trade setup. With technical indicators, it is easy to find a few suitable stocks among thousands available.
After investors scan charts of the shortlisted stocks for possible entries and analyses all charts in detail, they proceed with the trade. Thus, intraday trading using technical analysis involves stock screening, chart scanning, and trade setup.
With technical indicators by intraday scanners, it is easy to find a few suitable stocks among thousands available. After investors scan charts of the shortlisted stocks for possible entries and analyses all charts in detail, they proceed with the trade.
FAQs
A stock screener can sort stocks and display the ones that satisfy user-defined criteria from a list of thousands. They can also display the latest news, trends, allow you to follow seasoned investors, among others.
This helps traders and investors identify critical opportunities in day trading, and they have to go through only the shortlisted stocks.
Some of the best screeners for Indian stocks include Screener.in, Chartink India, and Fatafat screener. These screeners provide actionable stock and company insights for making the right trading decisions.
The stock selection screener selects stocks that fit the criteria defined by the user (trader or investor). The selection parameters can be fundamental, like a company’s financials or technical indicators like moving average for stock momentum.
Screeners can filter out various trading instruments or securities like a collection of shares (stock). They are mainly used to pick the right shares for investors to gain future financial benefits.
Yes, stock screeners work well if an individual knows how to use them to his/ her advantage. They can be the quantitative and unbiased way to prioritize stocks based on a given criteria and then do an in-depth analysis. However, it takes experience and learning to use the right input variables for filtering.
It save time and help investors and traders in making evidence-based decisions. Common technical analysis indicators include relative strength index (RSI), MACD, on-balance volume, stochastic oscillator, and more. Return on equity (ROE), price to sales ratio (P/S), free cash flow (FCF) and the like lie in fundamental category.
They are used when you decide which stock to trade/ invest in. After you filter the stocks on fundamental and technical criteria, finalize the stocks based on individual analysis and proceed with actual trading.
Yes, they can easily filter the relevant stocks from thousands of available stocks that best fulfill the criteria set by stock traders and investors. But it is important to identify which can work best for you.
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