Chances are that you have been in a situation where you bought stocks at the high of a price swing and then sold them right at the bottom. Perhaps the strategy was good, but the trade timing put a kink in your expectations. It is very important to be in the right place at the right time.
The perfect execution, tight spreads, and the avoidance of slippage can be the difference between profitability, break even trading, or even losses for day traders. With the best stock scanner and best stock screeneryou can become profitable within a short period of time.
Technology is the key to success. Artificial intelligence-based algorithms, trade automation, trading strategy detection, and position size optimized orders are only a few advantages that new technologies can provide.
Fasten your seatbelt and get ready for the best stock screeners and stock scanners for 2021.
Transparency: We may get compensated when you click on links in this article.
Best Stock Screeners – Top 10
The best stock screener is the one that offers the best possible functionalities matching your investment goals. Day trading is different from swing trading and investing. Therefore each investment style has specific requirements. Here are the top 10 stock screener categories and tools:
- Best Stock Screener for Day Trading: Trade Ideas
- Best Penny Stock Screener: Trade Ideas
- Best Pre Market Stock Screener: Trade Ideas
- Best Stock Screener for Swing Trading: Stock Rover
- Best Stock Correlation Screener: Stock Rover
- Best Dividend Stock Screener: Stock Rover
- Best Stock News Screener for Swing Trading: Benzinga
- Best Stock News Screener for Day Trading: Hammerstone Markets
- Best Free Stock Screener: Finviz
- Best Paid Stock Screener: Trade Ideas
1. Trade Ideas Pro
A day trading scanner has to be fast. Market timing is important for successful day trading. For that reason, a day trading scanner should be powered by high-end technology with data centers near the stock exchange. Also, real stock exchange data should be used as data feed. There is only one stock scanner that fulfills all these criteria.
Trade Ideas Pro provides its users with the best day trading scanner available right now. But there is more.
Trade Ideas provides a free stock chat room, a free stock picking service, penny stocks scans, and even a customer-friendly refund policy. And the best part – traders do not need coding knowledge to use it. A backtesting interface is integrated, and traders can fully automate their trading.
Plus, the Trade Ideas A.I. channel algorithm automatically scans the market for the trading setups with the highest potential profitability and shows you the results in real time.
Their Artificial intelligence stock trading software has beaten the markets significantly in the past. Trade Ideas belongs to the list of fastest growing companies based in the United States.
- Stock screener with A.I. functionalities
- Gap scanner, and many other pre-configured scans
- Backtesting and automated trading features
- Freely customizable scanners with ~800 filters and alerts
- Trading room and free education included
- Limited amount of fundamental research data
For more details, go on reading the full Trade Ideas Review to find out why Trade Ideas is the best stock screener.
2. Stock Rover
Stock Rover is the go-to-place when it comes to stock correlation analysis, fundamental data evaluation, and powerful investment research. If you use free stock screeners like MSN Money and Yahoo Finance, then Stock Rover is the ultimate upgrade. The Stock Rover advanced web platform is combines screening, research, and charting in one package
With 10 years of detailed financial data history, excellent data exports, more than 650 supported analysis metrics, stock ratings, correlation analysis and broker integration, Stock Rover has become the favorite stock screener and ETF screener for swing traders and value investors.
Stock Rover Premium opens a whole new world of investment analysis.
Take your time and check the full platform for 14 days with all data, all features, export any data you like, try the portfolio analysis, and dividend screening.
- Excessive database with 10 years of historical data
- 650+ financial metrics available
- Equation screening, ranked screening, and correlation analysis
- Powerful financial report capabilities with real-time report generation
- Excellent value investing, swing trading, and stock screener functionalities
- Limited day trading capabilities
3. Black Box Stocks
Black Box Stocks offers a bit of excellence in everything. The Black Box Stocks stock screener is one of the key functionalities. It uses a proprietary algorithm to display the 10 hottest gainers and decliners of a day. There is also a pre-market scanner included as well as a post-market scanner.
In addition, Black Box stocks offers an options screener where unusual options activity is tracked. The trading chat room for stock traders and a discord channel for options traders make their offer complete. They have free trading education events where real traders educate the community in diverse trading and investment styles.
Black Box Stock is a good starting point for those who are a bit uncertain about what assets to trade and what time horizon, and strategy to use.
Since Black Box Stocks also has a news feed powered by TheFly included in the dashboard, its overall functionalities come close to those of Benzinga. Because of the educational events, they even go a step further.
- Combined screening tools for stocks and options
- Strong community
- Discord channel and private Twitter groups
- Free educational events
- The trader chat distracts attention from what is happening on the financial markets
More on the key benefits can be found in the Black Box Stocks review.
4. Benzinga Pro
Benzinga Pro is a robust stock analysis, and news feed tool with integrated stock scanner functionalities. You can create workspaces and set various stock screener settings based on specific criteria and keyword filters.
For example, let’s say you want to get notified once a headline pops up with
- “FDA approval,”
- “stock split,” or
- “topline result.”
You can define such workspaces in Benzinga Pro with a few mouse clicks. Also, you can set an alert that notifies you once a criterion is met. But Benzinga has much more to offer. There is integrated charting, various pre-defined stock screeners, and a squawk feature.
Benzinga Pro offers a 14-day free trial. It is a real free trial, no credit card is needed, and the free trial will end after 14 days without obligations.
- Stock screener and news platform at one place
- Powerful pro-features (check the review for details)
- Customizable newsfeed
- Squawk box and audio alerts available
- The paid basic platform is not that beneficial, and the Essential package is the better choice but more expensive
Read my Benzinga Pro Review to see how I use it. A Benzinga Pro coupon code is also included and will save you 30% on any subscription.
5. Hammerstone Markets
Let’s say you are using Trade Ideas as your favorite day trading stock screener. Trade Ideas notifies you when a move happens right now. In addition to this, Hammerstone Markets can answer the question if the movement is caused by a meaningful catalyst that unfolds enough potential to let the stock move further.
Hammerstone is also a powerful tool for traders solely focusing on news. In most cases, news cause stock price momentum. Knowing the news as one of the first helps to get an edge in the market. The tool is mainly used by institutions and hedge funds, but they created a new product for day traders, and it is one of the fastest news-sources I have ever seen.
- Ultra-fast news feed
- 100% focused on newsfeed speed
- Used for decades by institutions
- Low-cost version for day traders available
- Only news feed, no charts, no fancy stuff
Read the in-depth Hammerstone Markets review for more details.
TrendSpider is a smart trading software for automated technical analysis. Their market scanner generates dynamic watchlists based on technical criteria. This way, investors discover their trade setup based on flexible scans or by using one of the 20 build-in scans. The TrendSpider scanner is not as fast as Trade Ideas and Black Box Stocks, but considering that the scanner is only a side product of the whole package, the usability is good.
The TrendSpider scans can also be used as the source for backtests and pattern-recognition analysis. The 1-minute chart is the lowest possible timeframe. This way, TrendSpider can search on any timeframe from 1-minute to 1 month.
A nice feature of the screener is that multiple timeframes can be combined for multi-timeframe analysis. This is a feature where TrendSpider stands out. Some of the pre-build scanners are MACD Cross scanner, blue Raindrop- and Ichimoku Cloud scanner. Besides the named functionalities, TrendSpider offers a charting and analysis package, and a dynamic alert system.
- Continuously improvements since inception
- A.I. based algorithms power
- TrendSpider University and Trading Pit Show for free
- Backtesting engine included in Elite and Master subscription
- Not the fastest market data and therefore not for day trading
- Pre- and after-hours data only in higher-tiered plans available
Please, read the TrendSpider review for all background information.
7. Finviz Elite
Finviz Elite is the best regular stock market scanner available. I was using the free Finviz screener long before I started using Trade Ideas. But the stock market scanner Finviz.com has only limited capabilities for day traders needs. It never helped me to make profits.
However, Finviz is always a good idea if you want to scan the overall market conditions. So, while Finviz is a great stock market scanner, it is not made for day traders. Technical and fundamental swing and position traders will enjoy the free functionalities Finviz provides.
Premium features like real-time and pre-market data, the advanced charting platform, data filters, a backtest-engine and advanced Finviz stock screener settings make the search much more efficient.
But again, Finviz Elite is not made for day traders, and there are still plenty of limitations. Day traders consider using Trade Ideas Pro.
- Fast engine with proper fundamental filter criteria
- Historical data can be downloaded
- Free version for fundamental screening available, but with ad-placements
- Only basic stock scanner functionalities and charting
- Not as comprehensive as Stock Rover’s fundamental data
Read the in-depth Finviz Review to learn more about all features.
TradingView was initiated by traders and software developers who wanted to share their powerful and highly advanced trading tools with their users. The platform belongs to the best free stock charts and gives traders of all levels the chance to benefit from the latest technology achievements.
In my opinion, TradingView focuses a bit too much on charting and technical analysis. Many investors look solely for this because they are still trading based on technical analysis and thus prefer a technical analysis stock screener.
TradingView offers free EOD stock screens with basic functionalities and delayed data. Real-time data costs extra and unfolds some additional features. TradingView is a good starting point for trading beginners with a limited budget and moderate demands. But day trading stocks with TradingView requires you to sign up for additional subscription costs because of better market data feeds.
- Solid HTML5-technology
- Extensive charting functionalities
- Broad coverage with 60 worldwide exchanges
- Appears partially overloaded
- Real-time data needs more expensive data-feed subscriptions
For extensive information on TradingView, see the detailed TradingView Review.
9. Yahoo Finance Stock Screener
Yahoo Finance used to be one of the best free stock screeners. Users can scan for market capitalization, eps growth, chart patterns and other screening criteria. Also, the Yahoo Finance API-functionality is very limited nowadays, but in 2020 some of the older functionalities where reactivated. The reactivated functionality where investors can download historical data makes this share screener attractive again.
Anyway, they recognized that it is possible to make money with data and wrapped all the premium functionalities into their new product Yahoo Finance Premium product.
Yahoo Finance falls into the same category as Stock Rover, Finviz and TradingView, where Stock Rover takes the lead with the best cost/benefit ratio.
Other free stock screen tools like Zacks stock screener and the MarketWatch stock screener have similar functionalities. Still, they cannot scan for things like pink sheets, OTC stocks, holy grail, dividend yield, profit margins, channels tools, and candlestick patterns. Those things are only available with paid screeners.
- Free stock screener
- Solid free functionalities
- Only basic stock scanner features
- The premium version is more expensive than Stock Rover.
10. Trading Platform
High-end trading platforms from brokerages like Charles Schwab, TD-Ameritrade, E-Trade, and TradeStation offer their clients trading-tool integrated functionalities. Based on real-time quotes, clients can scan for normal things like pre-market movements, and top 10 gainers. Some go a step further and allow to create watchlists based on defined screener criteria like trading volume, market cap, and volatility. Using such built-in tools saves you money if you don’t need more.
- Free access for brokerage clients
- Available with most market-leading brokerage trading platforms
- Basic fundamental and technical scans
- Free stock screeners have limited functionalities
Best Stock Screener Conclusion
The best stock screener for day trading and penny stock trading is Trade Ideas. The tool is unbeaten and being used by some of the most successful day traders. Also, institutions use their proprietary artificial intelligence based algorithms, and I use this stock scanner for over ten years now. Trade Ideas has just everything that a day trader could need. A fast scanner, excellent support, education, backtesting functionalities, a free trading room, automated trading and much more for a reasonable price. Trade Ideas is the best paid stock screener.
Black Box Stocks is a newer player in the field, and they grow fast. Traders can use it to find their investment niche by thinking outside the box of stock trading, going a step further analyzing the options market.
As the top 10 list shows, there are various tools out there that unfold their power in specific investment styles. Penny stock traders need another stock scanner than fundamental analysts. If you need 10 years of historical data for 650+ financial metrics that you can analyze and compare with a mouse click and crunch in MS Excel, then you need Stock Rover.
For news-trading, the low-cost news feed Hammerstone Talks by Hammerstone Markets is the best way to go, while tools like Benzinga Pro and TrendSpider are generalists.
Take your time and test the tools until you find the best one for your investment style.
Pro Tip: All my favorite stock screeners have a free trial or a refund offer. I check the discount links every week, and they are working. For some discounts, it is enough to use the link in this article. Sometimes you need to click on the link and use the mentioned discount code.