StockFetcher will take some getting used to, but once you get the hang of it, it's one of the most powerful stock screeners available. With StockFetcher, you create your own stock screens.
Using a specific format, type in exactly what you want the stock screener to search for. A nearly infinite combination of filters and parameters is possible.
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 of high-quality day trading stocks.
The upgraded version of StockFetcher, which allows you to see all the search results, is $8.95/month as of September 2017.
Use Finviz to reduce the US equity market down to a handful of only the best day trading stocks using thousands of potential filter combinations.
The site is easy to use; click the Sceener tab and start adding criteria from the drop-down menus. There are three major sections from which you can add criteria: Descriptive, Fundamental, and Technical. Once you've added some criteria, you'll get a list of stocks that match them. 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, which 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, you'll need to upgrade to Finviz Elite. It includes a lot of additional features and costs $39.50/month (cheaper if paid yearly).
ChartMill gives you the option of finding day trading stocks based on criteria such as volume, price, technical indicator, candlestick patterns, or performance. Additional screening criteria include ChartMill's proprietary filters: Pocket Pivots, Squeeze Plays, and Trend Intensity, among others.
Like Finviz, the stock screener is easy to use and free. The site works on a credit system. 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 ($10), or upgrade to unlimited usage for $29.97/month (cheaper if paid yearly).
Quickly find stocks that are near highs or lows for various time frames, or that are showing a lot of price momentum (up or down). Track which stocks are being bought and sold by popular hedge funds, and create custom screens, watchlists, and portfolios. StockRover also allows for backtesting and creating equations—combining multiple filters into a mathematical equation to further fine-tune results.
Hundreds of functions are available to all users, although paid users have access to additional features such as equations, data exporting, additional filters, portfolio analytics and alerts. A paid subscription is $249.99 per year.
05Maximizing 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 of stocks that are suitable for day trading. Then, focus on only day trading one or two (or possibly 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.
4 of the Best Free Stock Screeners for Day Trading
Use these screeners to find the day trading stock you're looking for
Day traders use stock screeners to narrow the list of thousands of available stocks to a small list of equities that possess the day trading characteristics they're looking for. This is done by applying filters to all the stocks on the US exchanges. Only stocks that pass the filters will be shown on the stock screener list. Popular filters include volume, chart patterns, price, volatility, and recent performance.