What Are the Best Types of Stock Screeners for Day Trading?
Looking for all the trading opportunities traditionally is time-consuming. Traders must spend a lot of time regularly just to find out some of the hottest stocks so that they can invest in them.
They must check the balance sheet, notice all the other patterns, and check all the listed firms’ loss and profit statements. But in the modern era, traditional methods no longer exist, and to identify all the stocks that will do well in the future, takes only several minutes.
This is all because of the stock screeners or scanners. They were used for long-term trading before and could filter all the stocks for the basic criteria, but now traders can use them to find the best stocks to invest in.
You will find many stock screeners available in the market today, and this article will highlight the different types.
Stock Screener: What Is It?
Before you gain some information about the various stock screener types, you first have to learn and understand what a stock screener is.
Stock screeners are a type of tool that can separate and identify trading instruments, such as stocks. These stocks are listed under various firms under the stock exchange category, which fulfills specific metrics. The filters criteria help calculate ultimate performance, and the investors and traders specify it.
Apart from that, the palpable strictures can include the following:
- Price of earnings ratio or P/E.
- Debt to equity ratio.
- Dividend ratio.
- Average volume.
- Market capitalization.
- Growth rate.
- Various other indicators.
A stock screener can also display all the metrics and ratings. These help both the investors and traders to reach a particular decision and make all the trading strategies effectively and properly. Additionally, by analyzing some of the stocks at once, you will get the chance to remove all the stocks that do not meet your needs with immediate effect.
These tools can also be fundamental and technical or both. The technical indicators will include the relative strength index or RSI range, moving average, and many more.
But most of the screeners don’t cover the qualitative parameters, such as lawsuits, customer satisfaction, etc. Nevertheless, these tools are available on popular trading websites and platforms.
Types Of Stock Screeners to Check Out!
When you are looking for an excellent stock screener, you will come across some of the best of them available in the market today. In this section, you will learn about some of the best types of stock screeners
For us, this platform is the best stock screener ever made. VIG will help you further analyze the stocks recommended by investment experts, so you can make your own informed decisions. Using VIG’s stock screener, you can make sure you’re not buying the “wrong stock”. You can minimize your mistakes before you buy. There is so much information provided from various sides, making sure any stock you research will not hide anything from you.
This is a popular web-based screening and charting tool that allows numerous timeframes to screen all the technical and fundamental indicators. Additionally, it also provides global stock exchange information in real-time.
You will also come across some options, which will enable you to make watch lists, obtain news, and view the stock information, and many other things. The preset scans will enable all the traders to find large movers for each day.
Apart from that, investors and traders will get the chance to make their own stock scans. Trading View also has over 10,000 public indicators, more than 50 drawing tools, and you will get alerts on indicators, strategies, and prices and a real-time chart.
3. Ticker Tape
Ticker Tape is a stock screener, which is pretty easy to use and will effectively help you with the stock screening method. It also comes with a brilliant online site, which is ideal for all seasoned and amateur investors and traders.
The screener provides exchange-traded funds or ETFs, mutual funds, stocks, and indices. You will also come across many stock filters like close price, sector, market capitalization, and more applications on one single tab.
The Pi stock screener from Zerodha will allow you to filter all the stock through the financial ratios, broker ratings, technical indicators, future estimates, and various other things. You can easily save the criteria by reloading or refreshing the browser anytime you want.
The real-time scanning occurs when the trading days come with a fixed time. You will find industrial, IT or information technology, energy, healthcare, consumer staples, financials, and many more.
This is an intraday stock screener and falls under Ticker Tape, and the screener is available for free for all the customers.
5. Capital Cube
This is a stock screener by the Al-firm known as Analytic Insights and is viewed as one of the biggest share screeners in the market. It covers hundreds and thousands of global equities. It offers an in-depth analysis of companies compared to their peers according to the factors, such as debt, earnings, dividend strength, and many other things.
The essential data gets gathered from the financial database known as Fact Set, and the search option is simple, and the navigation is not that difficult. You can easily save plenty of research stock because it will recommend all the stocks. The platform also provides ETF research.
Now, your search for the best stock screener is over because you will find some of the most trusted and reputed ones available in this article. Go through each screener and choose the one that perfectly matches your needs.
This article has been published in accordance with Socialnomics’ disclosure policy.