3 Best Free Stock Screeners for Day Trading

No matter what you're looking for, these stock screeners help you find it.

A stock screener narrows the list of available stocks (thousands) to a small list of stocks which possess the day trading characteristics you're looking for.

A stock screener uses different filters or screens, such as a volume, chart patterns, price or performance to create a manageable list of stocks. Here are three great (and free) stock screeners to help you find the exact stock you are looking for.

StockFetcher.com

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Type your own search criteria to find exactly the stocks you want. StockFetcher.com

This one will take some getting used to, but once you get the hang of it, it's the most powerful stock screener available. This is because you create your own stocks screens. Type in (using a specific format) exactly what you want the stock screener to search for.

The free version of StockFetcher allows to you see five stocks from the stock screener search results. When day trading this is usually sufficient for finding a couple high-quality day trading stocks. The upgraded version of StockFetcher, which allows you to see all the search results, is $8.95/month.

An example of how to use the StockFetcher screener is provided in Find Day Trading Stocks with the Biggest Moves Using These Filters. More

Finviz.com

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Find the stock(s) you are looking for using loads of available criteria. Finviz.com

Reduce the U.S. equity market down to a handful of only best day trading stocks, using thousands of potential filter combinations. The site is very easy to use; just go to the Sceener and start adding criteria from the drop-down menus. There are three major sections under which you can add criteria: Descriptive, Fundamental and Technical. 

One you have added some criteria, you'll get a list of stocks that match those criteria. Change the information you see on these stocks by adjusting the view. There are 14 views to choose from, including Overview, Valuation, Financial, Performance, Technical, Charts, and News. Change the view and sort by information type to see the top or bottom ranked stocks on your list. 

Finviz is free, using delayed data. This will typically suffice if you run your stock screens at night in search of trade candidates for the next day. If you want real-time data, so you can search for stocks on the move in real-time, you'll need to upgrade to Finviz Elite. It includes a lot of additional features and costs $39.50/month. More

ChartMill.com

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Use standard and proprietary criteria to search for stocks meeting certain specifications or trade setups. ChartMill.com

Chart mill gives you the option to find day trading stocks based on typical criteria, such as volume, price, technical indicator, candlestick patterns or performance, but also search for stocks based on ChartMill's proprietary filters. These include "Pocket Pivots," Squeeze Plays" and "Trend Intensity" among others.

Like Finviz, the stock screener is easy to use, and best of all it's free. The site works on a credit system, and you get 6,000 free credits each month, which accumulate if you don't use them. Running the scanner will cost you a couple hundred credits (approximately), so the 6,000 monthly credits should allow most users to utilize the site frequently without having to pay for additional credits. You can buy credits in blocks of 10,000, or upgrade to unlimited usage for 35 Euros/month. More

Maximizing the Effectiveness of Stock Screeners

As a day trader it's very easy to get caught up in constant research and trying to find the latest stock poised for a big move. While this can be effective, usually it just results in burnout and poor performance because the move has already happened by the time you find out about it. Instead, utilize these stock screeners each night, or even just once on the weekend, to find a handful stocks which are suitable to day trading. Then focus on only day trading one or two (or possible three) of them during the next trading session or week. This approach requires much less time, and since you're only watching one or two stocks, you're poised and ready for when moves happen. Try out these three stock screeners, see which one you like the best, or use them all. Finviz and Chartmill are easy to use, and for most day traders the free versions will suffice. StockFetcher is a more advanced stock screener, and will take some time to learn, but is top of the line for finding stocks based on truly personalized criteria.