Introduction
Swing trading requires a balance between short-term market trends and technical analysis. A stock screener simplifies the process by filtering stocks that match specific criteria. I have tested several free stock screeners to find the best options for swing traders. This guide will compare these tools based on features, usability, and effectiveness.
Table of Contents
What Makes a Good Stock Screener for Swing Trading?
A reliable stock screener should offer:
- Real-time data: Swing trading requires updated stock prices.
- Technical indicators: Moving averages, RSI, MACD, Bollinger Bands, and volume trends.
- Customization: The ability to set filters for specific criteria.
- Ease of use: An intuitive interface for quick screening.
- Fundamental analysis: Optional, but useful for context.
Top Free Stock Screeners for Swing Trading
I compared several stock screeners and ranked them based on functionality. Below is a table summarizing the best options.
| Stock Screener | Real-time Data | Technical Indicators | Custom Filters | Usability |
|---|---|---|---|---|
| TradingView | Yes | Extensive | Yes | High |
| Finviz | Limited | Moderate | Yes | High |
| StockCharts | No | Strong | Yes | Medium |
| MarketWatch | Delayed | Basic | No | Low |
| Yahoo Finance | Limited | Moderate | Yes | Medium |
1. TradingView
Pros:
- Wide range of technical indicators
- Real-time stock data
- Cloud-based platform with mobile access
- Customizable alerts and filters
Cons:
- Free version has limited alerts
- Requires login for full customization
Example Use Case: I filter stocks using:
- 50-day moving average (MA) above the 200-day MA (indicating an uptrend)
- RSI below 40 (signaling an oversold condition)
- Volume above 500,000 (confirming liquidity)
The screener returns a list of stocks meeting these conditions. I then check charts for confirmation.
2. Finviz
Pros:
- Fast and easy to use
- Many technical and fundamental filters
- Visual heatmaps for market trends
Cons:
- Data is delayed in the free version
- No real-time scanning
Example Use Case: I use Finviz to find stocks with:
- Price above the 20-day MA
- High relative volume
- Bullish candlestick patterns
The results allow me to select stocks with strong short-term momentum.
3. StockCharts
Pros:
- Strong charting capabilities
- Useful for trend analysis
Cons:
- No real-time data
- Limited customization in free version
Example Use Case: I use StockCharts to visually confirm:
- Breakouts from key resistance levels
- Moving average crossovers
Since the free version lacks real-time data, I confirm my findings on a separate platform before making a trade.
4. MarketWatch
Pros:
- Basic filtering options
- Simple interface
Cons:
- No advanced technical indicators
- Delayed data
Example Use Case: MarketWatch is more useful for beginners who want to filter stocks based on sector and market capitalization. I rarely use it for active trading decisions.
5. Yahoo Finance
Pros:
- Easy-to-use interface
- Offers technical and fundamental filters
Cons:
- Limited real-time scanning
- Ads can be distracting
Example Use Case: I set up alerts for:
- Stocks breaking above a key moving average
- Unusual volume spikes
Yahoo Finance is useful for keeping an eye on watchlists but lacks real-time customization.
How to Use a Stock Screener for Swing Trading
A stock screener is only useful if applied correctly. Here’s my step-by-step approach:
- Identify Your Trading Strategy
- Trend following: Focus on moving averages and breakouts.
- Reversal trading: Look for oversold conditions using RSI and MACD.
- Volume-based trading: Screen for stocks with volume spikes.
- Set Up Filters
- Price above a key moving average (e.g., 50-day MA for uptrend confirmation)
- RSI between 30-50 for potential rebounds
- Volume at least 1.5x the average daily volume
- Analyze the Charts
- Use multiple timeframes to confirm patterns
- Look for key support and resistance levels
- Create a Watchlist
- Select 5-10 stocks that meet your criteria
- Track them for a few days before entering trades
- Execute Trades Based on Confirmation
- Use limit orders to control entry price
- Set stop-loss orders to manage risk
Example Swing Trade Using a Stock Screener
Let’s walk through a trade using TradingView.
Step 1: Screen Stocks I use the following filters:
- 50-day MA above 200-day MA
- RSI below 40
- Volume above 1 million
A stock (XYZ) appears in the results.
Step 2: Confirm with Chart Analysis
- The stock recently bounced off support.
- The MACD histogram shows decreasing bearish momentum.
Step 3: Plan the Trade
- Buy at $50
- Stop-loss at $48 (below recent support)
- Target price $55 (near resistance)
Step 4: Execute the Trade
- Enter at $50
- Exit at $55 (10% gain in one week)
Conclusion
Choosing the best free stock screener depends on your trading style. TradingView is my top choice for real-time screening and customization. Finviz is great for fast scans, while StockCharts provides deep chart analysis. Understanding how to use these tools effectively can improve swing trading results.
