Best Stock Scanners and Stock Screeners
Stock Scanner and stock screening tools help traders to archive their goals faster. It is easy to look at a chart at the end of a day to say, hey, this was a great move in the right direction. If you want to get into the trade early enough to maximize profits, then the best stock scanner is a must.
Those tools scan the stock market and thousands of listed stocks during a day in real-time. Some do it exceptionally well, and others need improvements.
Let's have a look at the five best stock scanners, their unique functionalities, pros and cons.
- Trade Ideas
- Black Box Stocks
- Benzinga Pro
- Hammerstone Markets
- Finviz Elite
- Yahoo Finance
- Stock Rover
1. Trade Ideas
Trade Ideas is by far the best stock scanner out there, and the list of unique functionalities is long.
First of all, Trade Ideas comes with a huge range of pre-configured scans. Penny stocks, momentum scans, and many other popular scans are available. Some of the most powerful pre-configured templates are based on Trade Ideas A.I. strategies. Before the market opens, the Trade Ideas algorithm applies the highest conviction scans to over 8,000 stocks and sends a signal directly to the app. And this is where the next feature stands out.
Trade Ideas does support automated trading, and this includes simulated trading with real-time data and automated stock picks. This is awesome because, with just a few mouse clicks, traders can connect Trade Ideas with their brokerage account, and the artificial intelligence signals can be sent directly to your broker. This is also possible within the simulation environment to test and verify strategies at first. Let's discover some more benefits of using Trade Ideas.
- Free educational webinars
- Free trading room with live-trading
- Huge video collection on YouTube
- Backtesting module, top-lists, and charts
- Over 800 alerts and filters available
- Available as a web-based app, and via software download
- Not available for free
- Mainly for stocks only
2. Black Box Stocks
Black Box Stocks is a fantastic options screener with some stock market scan capabilities. First, let's talk about the stock scanner features. Black Box Stocks has an implemented top 10 gainers and decliners scan where the current momentum is taken into consideration. The algorithm behind the scan is a bit more complex than it may seem at first because it's not just based on %-change vs. the previous day. Instead, volume and volatility are also part of the scan, and the top 10 lists vary during the day.
A cool thing about Black Box Stocks is the free integration of The Fly on The Wall. The Fly is a news service, and by using the combination of the top-list along with the integrated news feed, traders get a better understanding of the reason behind a trade.
The integrated options screener scans the options market for unusual options activity. The idea behind the scan is to participate in things that only institutions know about and to follow them before the market reacts finally.
- A great mix of stock screening and options scans
- Free private Twitter group for subscribers
- Discord channel with real-time trading for free
- Web-based app
- Only semi functionalities for stock screening
- Backtesting and automated trading not available
3. Benzinga Pro
Benzinga Pro is the go-to place for news-based trading and fundamental research. It is one of the view tools that covers everything from charting, extensive news scans, an integrated stock screener, and options filters.
Benzinga Pro is not as powerful as Trade Ideas when it comes to scanning stocks with hundreds of filters and pre-configured scans. But Trade Ideas and Benzinga complement each other if the reason behind a move is a crucial trading decision factor for the trader.
Day traders usually don't care about the reason for a move as long the momentum is intact. But swing traders my want to do the research first or the research with priority. Attached to the news in the configurable news feed, documents from FDA, SEC, etc. are attached. Also, the news can be filtered by keywords like FDA approval, stock split, or topline result.
- Free trial available
- Good mix of news-research, stock screening, and technical analysis
- Catalyst scans via keywords
- Options and stocks can be scanned
- Can be used with any browser
- Automated trading and backtesting not available
4. Hammerstone Markets
Hammerstone markets is a unique news scanner that enables traders to find stocks before they make a move, or to use the momentum of a current movement. There are no fancy functionalities along with the news feed. You don't need to look for charting and top-lists. Instead, you can apply awesome filters and enjoy lightning-fast news.
Institutions are using the pro version, but the price tag might be a bit hefty for beginners. But professional day traders need a tool like this, and the monthly costs can be covered fastly by having the advantage of knowing things before the move of stock ends. The news-feed can also be used to scan for unusual options activity and merges and acquisition rumors.
- Focus on one particular functionality: news scans
- Keyword-based filters with unlimited parallel windows
- Available as web-based app, and tool
- Brand new low-cost feed for retail traders
- The Pro-version might seem to be expensive at first
5. Finviz Elite
Finviz is an excellent stock scanner for long-term investors and swing traders. Many of the functionalities are for free, but they are limited to end-of-day data, and some unique features only work with the paid version.
The premium tool is called Finviz Elite and is available for a few dollars per month. However, even Finviz Elite does not come even close to the functionalities that the tools mentioned above provide. Instead, Finviz Elite is for traders who focus on fundamental research, various paper trade portfolios, the ability to export the data as .csv file, and those who are looking for only basic charting capabilities. Day traders prefer using Trade Ideas for stock screening, Black Box Stocks for options scans, and Benzinga and Hammerstone for news.
- Excellent value for the features offered
- A solid mix of charts, news, scans, backtesting, and data exports
- A bit of everything but not specialized in one specific ara
- Not suitable for day trading
- The free version has delayed data
TrendSpider is a robust technical analysis software that aims to help investors make more efficient and smarter trading decisions.
You can convert your manual technical analysis to automated analysis to save time and resources. The integrated backtesting module can be applied to various filters like candlestick patterns or indicators like moving average crossovers or volume patterns.
The market is monitored in real-time, and thousands of traders appreciate helpful additional features like the unique raindrop charts. The spider scans are fully customizable and mainly suited for swing traders and investors. The data is not as fast as the one at Trade Ideas, and the scanner capabilities are also less extensive. The data feed includes US stocks, ETFs, currencies, and cryptos, as well as OT/Pink sheet stocks. The higher payment tiers also have after-hours and pre-market hours data available with time frames as low as the one-minute timeframe.
- Backtesting capabilities
- Stocks, currencies, cryptos, and indices data feed
- multiple workspaces with dynamic alerts
- The data feed is not as accurate as tick data
TradingView is a stock scanner most people have seen already. That's because the TradingView charting is being used by TradingView and also some companies that use their technology and white-label it. Benzinga Pro is one of the tools that use the TradingView engine.
The free TradingView version is a good start for those looking for near-time data related scans and charting functionalities. The full power of TradingView unfolds by using the paid version. Using TradingView standalone does not sound reasonable because a Benzinga Pro subscription comes along with TradingView charting, crisp stock scans, and the powerful newsfeed.
- Free version okay to apply some basic research
- An extensive set of drawing tools on charts
- The data and speed are more accurate using other tools
8. Yahoo Finance
Yahoo Finance is a great free stock screener. The free mutual fund screener, ETF screener, Future- and Index screener make the offer complete. Unfortunately, as with many free tools out there, if something does not cost a dime, then the user is the product. That's being said; the website is full of advertisements.
The stock screener allows filtering by region, market cap, price, sector, industry, and about 50 other filters.
The data is delayed, but the tool itself is convenient. The scans are fast and to the point. The brand news heatmap functionality visualizes the stocks based on performance. In the past, traders had the chance to export the data. Now, this is not possible anymore. But with a bit of copy and paste, some basic research can be continued in Excel.
- Free to use
- Premium version available since August 2019
- Ads are annoying, and they officially use your data to display personified ads
9. Stock Rover
Stock Rover is a trustful stock scanner with 650 metrics allowing subscribers to screen historical data, stock ratings, fair value, and margin of safety. The tool is an excellent choice for fundamental research, and long-term investing.
Historical and current stock scoring, ratio charts, and top priority email support are some of the impressive features Stock Rover provides. The pricing is fair, and the target group is investors. Active traders look elsewhere.
- Reasonable pricing
- Excellent stock scanner for fundamental research
- Five years of detailed historical data
- Brokerage integration available
- Data export
- Not suitable for active traders
MarketWatch provides a free stock scanner with basic functionalities. Filters like volume, price, fundamental criteria, and technical criteria can be applied. Nearly any brokerage integrated trading platform screener will beat Marke Watch's features, but the point is that the MarketWatch stock screener is free to use. Even if you do not have a trading account yet, you get access to a fast stock scanner engine.
Similar to Yahoo Finance, also on this site, the ads are kind of annoying. But for those of you who want to quickly check the stock market based on price, volume, fundamentals, technicals, and industry categories, MarketWatch provides a reliable tool.
MarketWatch closes the top 10 list of the best stock scanners.
Best Stock Scanner: Summary
Stock Scanners and stock screeners can help traders and investors to make well-informed decisions. The mentioned tools are excellent for beginners and experts. From essential stock screening to fully automated trading - the range of functionalities is enormous. The great thing is that the price is reasonable for the value provided.
Best Stock Scanners Questions and Answers
- What is the best stock scanner?
- What is a stock scanner for stocks?
- How do I find stocks to day trade?
- How do I set up a day trading scanner?
- What is a Momo scanner?
What is the best stock scanner?
The best stock scanner for day trading is Trade Ideas, followed by Black Box Stocks as the best options scanner, The Hammerstone for news, and finally Finviz, TrendSpider, and TradingView for long-term investing.
What is a stock scanner for stocks?
A stock scanner is a stock screening tool helping traders and investors to find stocks that meet precisely the selected criteria. Filters like volume, candlesticks, and news can be used for stock scanners.
How do I find stocks to day trade?
Stocks to day trade can be easily found by filtering for high-volume stocks with low spreads and strong momentum. Applying those filters ensures fast trades with excellent order executions.
How do I set up a day trading scanner?
Set up your day trading scanner by opening your program, set the filter to a minimum of $20,000 shares in the last 5 minutes, relative volume 2, price above $3 and below $50, and minimum change vs. previous day close of 2% for bullish trades.
What is a Momo scanner?
A momo scanner is a momentum scanner that screens the market for stocks that are moving exceptionally strong compared to the typical momentum of the stock.