Creating The Ultimate Stock Screener

Traders are constantly seeking new stock trading ideas, the sad thing is they usually try to find this ideas at the bar instead of on the computer. We will show you the method to easily create an awesome stock screen which can be updated daily and help a trader find new ideas.

We like to use Finviz for their powerful stock screener. They have a paid versus but we use the free screening tool.

In the database are 6583 tickers to work with. They are a combination of stocks and ETF’s.

1. Weed out stocks that are not easy to trade. We set the parameters to exclude stocks below $10, stock that have options listed and stocks with Average Daily Trading Volume of more than 500K shares.

See the results here. We are now left with 1372 stocks to choose from.

2. We will remove ETF’s because we are seeking individual stock ideas, not baskets.

See the results here. We are left with 1228 stocks.

3. We are going to set the stock screener to now show only stocks with a market cap of lower than $10 billion. This gives removes mega companies that generally trade with the overall economy, you never did here someone say they found a $200 billion dollar company that was under valued.

See the results here. We are left with 782 stocks.

4. Performance, there are many screens we can do for performance, weekly, monthly, quarterly or yearly. Today we chose to screen monthly performance, stock up over 10% in the past month and that now brings the list down to 186.

We now select chart pattern channel up, switch to chart view and here is what we find.

A beautiful custom screen of stocks that we can start analyzing.

Stock Screener

Learn more about trading options on Options Weekly.

Must read article on Day Trading Google with Options.