Technical indicators are calculations that measure a certain part of a stock’s performance. They’re derived from more basic metrics about a stock, like its price or volume of shares traded. Being able to read and use them properly will give you a trading edge.
Traders usually use technical indicators when reading stock charts — but stock screening by technical indicators is a good way to get directly to A+ trading setups. Screening by technical indicators is a relatively niche requirement, but it’s the screening strategy of choice for some savvy traders.
Stock Screener Technical Analysis
Stock screener technical analysis is a screening strategy that filters stocks with your trading strategy in mind. Instead of coming up with a list of stocks whose charts you can do technical analysis on later, it gives you a list of stocks that will already match your technical analysis strategy.
Does this mean that all these stocks will be good for trading?
No way! In trading, a lot more matters than lines on a chart telling you to buy or sell. I use technical analysis as confirmation for my trading thesis, not as a trick for finding hot stocks.
What Is a Stock Screener With Technical Indicators?
A stock screener with technical indicators is a tool that helps you pick stocks according to your preferred technical criteria.
What kind of technical indicators should be available on a technical stock screener? Here are some of the most useful ones that StocksToTrade offers:
- Volume-weighted average price (VWAP): VWAP tells you the average price of a stock throughout the day based on volume and price. When shares are above VWAP, that means that most day traders are profitable on the day, which is a good signal for bullish price movement.
- Bollinger Bands®: Bollinger Bands® consist of three trend lines that identify whether a stock is oversold or overbought.
- Moving average convergence/divergence (MACD): MACD shows the relationship between two exponential moving averages of a stock’s price. It tells you whether a stock is overbought or oversold.
- Relative strength index (RSI): RSI measures the speed and magnitude of price movements, which tells you about a stock’s momentum.
Importance of a Stock Screener Using Technical Indicators
A stock screener using technical indicators helps you find stocks that match your trading strategy. It screens through thousands of publicly-traded stocks and selects the ones that exhibit the setups you want.
A technical stock screener also helps you quickly see whether the stocks on your watchlists match your preferred strategies.
Why Do You Need a Stock Screener with Technical Indicators?
You need a stock screener with technical indicators if your trading strategy relies more on technical analysis than holistic market trend watching.
With that said, a stock screener with technical indicators is essential if you screen by technical indicators. Traders usually do this when they put strategy first — it’s a pretty niche method, but it’s good to have a stock screener that supports it. If this is how you trade, you’ll need a powerful scanner like StocksToTrade.
Stock screeners with technical indicators are best for technical analysis-minded traders. On the other side of the coin, you have fundamental stock screeners, which match certain trading strategies better.
Advantages of Technical Stock Screeners
The main advantage of technical stock screeners is that they let you screen by technical indicators first. If you put your strategy first when screening, you can save time searching for stocks that match your preferred setups.
How We Evaluated These Best Stock Screeners With Technical Indicators
There are many differences among stock screeners with indicators. Not all screeners are created equal — so it’s important to evaluate each of your picks.
Here are the criteria I use to evaluate my choices on this list:
- Pricing: Almost all of the best technical stock screeners are paid products or have subscriptions. Some good stock screeners are free, but they tend to lock their best features behind a paywall so you can’t make the most out of them.
- Indicator versatility: Everybody’s got their preferred indicators. Your stock screener needs to be versatile, so you can screen by the technical indicators you usually trade with.
- Database update speed: Some stock screeners update price quotes on a delay, which puts active traders at a disadvantage. If you need to stay on top of the market, find a screener that has real-time updates.
That said, a technical stock screener that works for me might not work for you, and vice versa.
If you want to make your own picks, feel free to add other criteria and metrics that might be important to you. For instance, you might want a scanner with more educational materials or a robust news scanner. Include that in your criteria and search for stock screeners that have those components.
Best Technical Stock Screeners
Here are my picks for the best technical stock screeners:
- StocksToTrade — Best Overall Technical Stock Screener
- StockMonitor — Best Technical Stock Screener for Custom Scans
- ChartMill — Best Technical Stock Screener for Comprehensive Analysis
- Finviz — Best Technical Screener for Free Users
- TradingView — Best Technical Screener for Indicator Variety and Market Accessibility
Nobody says you need to be married to one scanner. Try them all, and stick with the ones that work for you!
This is a list of the best technical stock screeners. For more stock screener picks, check my articles on the best stock screeners for day traders and stock screeners for swing traders. I also have an article on the best overall stock screeners.
1. StocksToTrade — Best Overall Technical Stock Screener
My first technical stock screener pick is StocksToTrade.
StocksToTrade tops my list because it’s an amazingly customizable screener that lets you screen for any technical criteria you want. It’s also a powerful platform that lets you dive deeper into the details of each stock.
But there’s more — StocksToTrade also has the Oracle algorithmic tool. It’s a nifty bit of technology. Oracle examines the day’s most tradable stocks to give you actionable trade ideas and signals. Essentially, it does most of the technical analysis screening for you.
Do you want a stock screener with buy and sell signals? Get a taste of Oracle now by signing up for NO-COST Oracle trade alerts!
StocksToTrade is an integral part of my trading style. I’ve used it for years, and I don’t know what I’d do without it.
StocksToTrade is a screener made by traders for traders. It comes with a set of built-in stock screens crafted by experienced traders, so you can trade like the pros. Try it out yourself — get a 14-day StocksToTrade trial for just $7!
2. StockMonitor — Best Technical Stock Screener for Custom Scans
My second technical stock screener pick is StockMonitor.
This stock screener’s greatest strength is its customizability. You have the leeway to tweak any of its pre-made filters or make one from scratch. The customization tools have a bit of a learning curve, but it’s coding-free — so it’s relatively simple and intuitive.
StockMonitor also has a way for you to test out trading strategies: backtesting. You can use your indicator strategy on over 20 years’ worth of historical stock data. This way, you can see whether your filter can spot actionable trade opportunities.
3. ChartMill — Best Technical Stock Screener for Comprehensive Analysis
My third technical stock screener pick is ChartMill.
ChartMill gives you an algorithm-powered stock analysis tool that automatically creates comprehensive stock reports for you. These reports give you an overview of your chosen companies and their stocks from both technical and fundamental standpoints, letting you make informed trading decisions faster.
ChartMill’s stock screener is robust and flexible, giving you the option to combine fundamental and technical scans to further refine your search. Naturally, you can also create your own filters to ensure you find the stocks that match your trading strategies.
4. Finviz — Best Technical Screener for Free Users
My fourth technical stock screener pick is Finviz.
Finviz has an ad-supported basic version for free, but that doesn’t mean it’s an inferior product. You can still scan and screen thousands of stocks and check the charts on a delay. It’s a good way for beginners to get their feet wet.
That said, you’ll only get the full Finviz experience as a paid customer. You’ll get real-time data, backtesting, customizable alerts, and more once you subscribe.
Looking for more free stock screeners? Check out my picks of the best free stock screeners on the market today.
5. TradingView — Best Technical Screener for Indicator Variety and Market Accessibility
My fifth technical stock screener pick is TradingView.
TradingView offers a wealth of pre-built indicators. You have over 100 indicators pre-packaged, plus an additional 100,000 community-built indicators. Even if you somehow can’t find an indicator that fits your needs, you can always make one yourself.
This is also a great screener for international stock traders. You don’t only have access to American stock exchanges. You can screen for assets from worldwide exchanges and markets in over 50 countries.
Final Thoughts
Many scanners are great for charting with technical indicators, but not all of them can handle screening by technical indicators. You’ll need a powerful screener like StocksToTrade to do that.
Each technical stock screener brings something different to the table. The best way to learn which one works best for you is to try them out.
I’ve also got an additional pick for you: Matt Monaco’s Alpha Scanner. Matt is a millionaire trader who used to be a software engineer. He’s still got those old skills because he made the Alpha Scanner from the ground up to mirror his trading style.
Alpha Scanner is filled to the brim with trade alerts, live mentoring, and more. Can Matt and his Alpha Scanner give you the edge you need in trading? Here’s how you find out…
Sign up and join the next Alpha Scanner LIVE broadcast for more information!
Technical Stock Screener FAQs
What Key Features Should a Technical Stock Screener Have?
A technical stock screener should include key features such as advanced technical indicators, custom query options, and interactive charts. These features allow traders to apply complex stock screening criteria and use detailed stock screening to find tradeworthy stocks. Additionally, incorporating fundamental metrics and financial instruments can help make more informed decisions.
How Can Customizable Screens Improve Stock Screening Strategies?
Customizable screens enable traders to tailor their stock screening strategies to specific needs, using a wide range of filters like regime filters, advanced filter customization, and dynamic markets. By adjusting these parameters, traders can identify stocks with specific characteristics, such as unusual volumes or strong earnings growth rates. This flexibility enhances the precision and effectiveness of stock screening.
How Do Technical Filters Aid in Finding Undervalued Stocks?
Technical filters help identify undervalued stocks by applying criteria like standard deviation, Bollinger Bands®, and linear regression channels. These filters analyze historical performance and current price trends to highlight stocks that are trading below their intrinsic value. Using technical filters, traders can develop a stock screening strategy that targets undervalued opportunities.
What Role Do Financial and Fundamental Indicators Play in Stock Screening?
Financial and fundamental indicators, such as earnings per share (EPS), book value per share, and earnings ratio, are crucial for evaluating the financial health of a company. These indicators help in screening filters to identify stocks with strong fundamentals. Combining these with technical analysis allows for a comprehensive evaluation, aiding in making informed trading decisions.
How Can Advanced Filter Customization Enhance Trading Strategies?
Advanced filter customization allows traders to create highly specific screening criteria, including custom queries and formula expressions. This level of customization enables traders to focus on stocks that meet precise requirements, enhancing the effectiveness of their trading strategies. By using advanced filters, traders can better navigate complex stock markets and identify lucrative opportunities.
Why Is It Important to Consider Different Trading Periods in Stock Screening?
Considering different trading periods, such as daily periods, weekly periods, and intraday periods, is important for aligning stock screening with trading strategies. Each period provides unique insights into stock performance and volatility. For instance, intraday periods are crucial for day trading, while extended periods offer valuable data for long-term investments.
How Do Stock Screeners Integrate Technical and Fundamental Analysis?
Stock screeners that integrate both technical and fundamental analysis provide a holistic view of stock performance. This integration allows traders to assess financial health through fundamental indicators and price movements through technical analysis. Using such screeners, traders can make well-rounded investment decisions based on a comprehensive analysis of both technical and fundamental data.
What Benefits Do Interactive Charts and Customizable Screens Offer?
Interactive charts and customizable screens provide dynamic visualization of stock data, allowing traders to track performance metrics, apply technical filters, and adjust screening criteria in real time. These features enable a more in-depth analysis of stock trends and help in identifying optimal entry and exit points for trades. Customizable screens enhance the trader’s ability to adapt to changing market conditions and refine their strategies accordingly.
How Can Integrated Hardware and Software Enhance Stock Screening?
Integrated hardware and software solutions streamline the stock screening process by providing seamless access to powerful tools and advanced features. These integrated systems can handle complex queries, process large volumes of data, and deliver accurate signals. By leveraging integrated solutions, traders can improve their efficiency and effectiveness in identifying and capitalizing on market opportunities.
How Do Pre-Configured Screens and Formulaic Expressions Help in Stock Screening?
Pre-configured screens and formulaic expressions simplify the stock screening process by providing ready-made criteria and customizable formulas. These tools help traders quickly apply proven strategies and adapt them to their specific needs. Pre-configured screens save time and effort, while formulaic expressions allow for precise customization, enhancing the overall effectiveness of stock screening.
What Is the Importance of Monitoring Trading Volume and Market Capitalization?
Monitoring trading volume and market capitalization is crucial for understanding stock liquidity and market dynamics. High trading volume often indicates strong investor interest, while market capitalization provides insights into a company’s size and stability. These metrics are essential for evaluating stocks and making informed trading decisions.
How Do Online Stock Screeners and Brokerage Firms Support Trading?
Online stock screeners and brokerage firms provide essential resources for traders, including access to stock screeners, pre-market data, and opinion of analysts. These platforms offer tools and information necessary for executing trades and managing portfolios effectively. Preferred brokerage firms often provide additional services, such as premium features and support, enhancing the overall trading experience.
What Are the Benefits of Using Technical Indicators Like Donchian Channels and Sharpe Ratio?
Technical indicators like Donchian Channels and Sharpe Ratio help in assessing stock performance and volatility. Donchian Channels provide insights into price trends and potential breakouts, while the Sharpe Ratio measures risk-adjusted returns. Using these indicators, traders can develop more informed trading strategies and identify stocks with favorable risk-reward profiles.
How Do Advanced Technical Indicators and Screening Filters Aid in Stock Selection?
Advanced technical indicators, combined with screening filters, enhance the stock selection process by providing detailed insights into price movements and market trends. Indicators like Bollinger Bands® and Signal Line Momentum help identify trading opportunities, while screening filters refine the search to meet specific criteria. This combination allows traders to make more precise and effective stock picks.