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Monday, January 29, 2007

Stock Screeners

Last week, The Kirk Report posted a long list of stock screeners based on his readers' feedback. For new traders, one problem is also where to find the stocks that fit their defined criteria. And it is tedious going through thousands of charts to eye-ball them each day. So here I'm going to talk about 3 screeners that I have used or still using. And as per my style, they are free resources which require no charges.

Stock Fetcher
This is my favourite at the moment, simply love it! Why?

-Customization of filters:
You can combine a varied of indicators (e.g. ADX, Moving Averages, Bollinger Bands, RSI, MACD, etc) all in one filter. And they can be customized e.g. moving average can be based on any number of days you indicate.

-Ease of use:
You "program" it using plain simply english. See image above as an example. You don't have to be a rocket scientist in programming to do this.

-Backtesting available:
I have not tried this, because I don't really believe in backtesting. But you can backtest your customized filters if you are interested

Have problems creating certain filters or not getting the right results from your filters? You can get help from their forum, where fellow users share their experience in using this tool and offer solutions.

The only thing I wish it can do better is allow download of the whole generated list to excel or at least have the list appear in one page (I think this is probably available to paid subscribers). Right now, only 5 stocks are shown on each page, and you need to ignore current list and click next to view the next 5 stocks. A little tedious, but hey, what more can you ask for when it is a free tool!

MSN Deluxe Screener

Most of you may have probably heard or use this before. What I like is it can show the sector of the stocks of the generated list if you choose to display sector. This helps me to know at one glance what sector the stock is in.

However, you can't customize the indicators like stock fetcher does. Moving averages only comes in the standard form of 50day, 200day. Also no criteria to search for only optionable stocks

Another good scanning tool which can scan for optionable stocks and you get to see the charts in the same page as well. What I particularly like is the ability to scan for intraday activities. Good source for day-traders.

It is also not as dynamic in terms of scanning customization compared to stock fetcher. Also for the intraday scanning, I recommend you do the scan after 10am ET, because you most likely won't get any results if you run any earlier.

So for those of you who don't know where to search for scanners, do explore these 3 that I've talked about. If you want to look for more, check out kirk's link above.


Anonymous OMDM said...

Thanks for the info... I personally used MSN delux screener but not the other 2. I've been looking for screener to help me screen for candle chart pattern. Recently, I bought this software... http://www.spacejock.com/FreechartsSE.html . It is a standalone software which allows me to download EOD data from yahoo. It's very powerful, though it requries some simple programming.... With the data downloaded to my laptop, I don't need the internet connection to do my screening and backtesting. I will definately check out some of the other screeners available.


1:50 PM  
Blogger Bill Luby said...

In case anyone missed, there was a great list of scanners recently posted at the Kirk Report: http://www.thekirkreport.com/2007/01/stock_screeners.html

And a later mention on the same blog that tipped me off to one of the coolest screener I've seen yet (with integrated charting!) http://beta.stockfetcher.com/

Cheers and good scanning/trading,


10:20 PM  
Blogger Brian said...

Stockfetcher is my favorite, also. In my opinion, the best value on the net for a stock screener/filter.

2:09 AM  
Blogger Simply Options Trader said...

Thanks for your comments. Yeah, do check out stockfetcher.com, it is able to screen for candle chart pattern as well.

8:57 AM  
Blogger Simply Options Trader said...

@bill: Yeah, the beta version is awesome!

@brian: totally agree that it offers the best value for money, have yet to see any better ones around in the market

p/s: I only saw the later 2 comments by bill and brian after my upgrade to new blogger. Not sure why, sorry abt that

11:30 AM  

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