In this FinViz review you're going to find that this stock screening tool is one heck of a time saver. Let's face it. We are living in a unique time. One in which everything you ever wanted to know is available to you. With a few simple strokes of the keyboard.
Within 10 seconds you can type in your question and magically an answer appears on your screen. More often than not, it can feel like you’re drinking from the proverbial fire hose of information with no idea whether or not the water is safe to drink.
I can recall in my early days of trading. I had so much information coming at me. As a result, I was almost paralyzed with inaction. So how does one go about filtering all the information on a stock? A stock screener is the answer.
The job of stock screeners is to narrow down the list of stocks that correspond to your exact needs. Maybe you’re only interested in stocks that are up 20% from open. Maybe it's stocks under $10 or stocks that are having earnings in the next week. A screener can help you eliminate any unsafe stock options and avoid missing out on profitable opportunities.
However, since there are plenty of stock screeners out there, knowing which one to choose can be daunting. Because of this, we are going to do a review of the stock screener FinViz.
The stock screener has been attracting a lot of attention lately. So we thought it’s only appropriate to explore how it can help you turn down the fire hose of information.
FinViz, short for financial visualizations, is one of the most popular browser-based stock screener and research site for the stock market. The free version is very useful to both traders and investors alike. For a fee, users can access the elite version.
It offers a vast array of scanning functionality. There are fundamental filters like EPS growth and insider ownership. There are technical filters like candlestick patterns and distance from moving average. There's also descriptive filters like short interest and analyst consensus.
FinViz boasts that their platform is used by a multitude of investment banks like Goldman Sachs and JP Morgan Chase. Hedge funds like SAC Capital also use them.
It has great tools to quickly establish a macro view of the market. FinViz has beautiful charts and advanced technical analysis tools. Keep reading to see how this screener can work for you!
The screener feature is where FinViz really shines. What impressed me the most was the sheer number of filters one can apply for FREE! Traders and investors can easily choose from over 60 individual criteria and receive every stock that fits their criteria.
You can choose to search based on price, beta, specific candlestick pattern, market cap, RSI, average volume, float short, sector or shares outstanding. The signal drop down includes the patterns as well as Top Gainers/Losers, Insider Buying, Unusual Volume and much more.
The charts show trend channels and 50/200 period simple moving averages. Results can be displayed by symbols, charts or snapshots. These include fundamentals, news, and company summaries along with technical charts.
The list goes on and on depending on your specific style of investing. The best part is that you can save your search criteria for later use. Build your custom scans and save them for later or share them with your friends! Here's one of my favorite settings for what I call "pinch plays".
This saves traders countless hours they would have spent performing manual chart scans. As such, this is deemed as a very powerful tool for investors looking to buy and sell stocks at optimum times.
FinViz has a feature known as a heat map.The heat map located on the homepage, gives users a quick, birds-eye view of whats going on in the market. It is divided into the various sectors from tech, financial, services to healthcare.
If you're wanting to know how a particular company such as Apple is doing, simply hover over the AAPL ticker in consumer goods and double click to get all the stock information. You're even able to zoom in and out with your mouse too!
FinViz also provides the user with news headlines from industry leading news providers like CNN, Bloomberg, MarketWatch.com, BBC, The New York Times and CNBC.
On the same page, you have news from industry leading blogs such as ZeroHedge.com, MarketRealist.com and Calculated Risk. These sources can provide some useful information.
Both professional traders and investors will not only find FinViz useful but a powerful tool to find stocks. Sometimes it could be stocks that are in the news and sometimes they are stocks seeing increased volume or volatility.
As a stock screener, FinViz is of most value to stock and equity index traders. While it’s of far more value to traders of individual stocks, those who trade index futures, options and ETFs do find it useful. They can see what is driving index price levels.
If you’re a trader that likes to trade based on certain news (think a stock that had a sudden rise in institutional ownership) or likes to find stocks that conform to certain fundamental characteristics (ie. earnings date), FinViz excels.
Investors can also use the site to combine technical and fundamental criteria, or to time their entries and exits using price action. Take a look at how FinViz can be used based on your investment style:
There are three types of membership plans: Free, Registered Free and Elite which are outlined in the picture below from their website.
The free and registered plan provides 3-5 minute maps with a delay and group screens with no intraday charts or portfolios and screener presets. It’s free to register and you have access to 50 screener presets, portfolio tickers and daily charts.
At the time of this review the prices are as follows, for $39.50 a month or $299.50 for the annual pre-payment plan you can have access to the FINVIZ*Elite Plan. With this you get real-time and pre-market quotes, advanced charting, screening with intraday charting, technical studies, back tests, correlation tracking stocks, e-mail alerts and up to 100 portfolios, tickers and screener presets. Paying this also hides the pesky advertisements.
One of the main disadvantages of FinViz is the inability to customize the screening parameters. If you’re wanting to run a scan for stocks that are up a certain percentage in the day, you’re limited to choices such as +5% and +10%. You’re unable to scan for values such as 3% like you can in Trade Ideas.
For those of you who are momentum day traders you may find FinViz is limiting due to their data speed. It’s great for nightly scanning but their data feed may keep you out of the quick intraday movers.
On a side note, FinViz doesn’t have the ability to run historical scans so you’ll be unable to back test your strategies.
Finviz is a user-friendly stock scanning tool that all traders and investors both new and seasoned should have in their trading toolbox. As you advance in your trading journey you'll probably want to consider forking out a bit of cash for access to additional screening parameters and real-time data.
Bullish Bears is committed to funneling down the fire hose of information. If you're not sure where to start, we provide daily hand picked screened day trade and swing trade alert set ups, live day trading chat rooms and trading courses for all types of traders. Try our trading service risk free for 14-days and if you're not satisfied we will give you your money back, no questions asked.
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