Many out there want novice traders to believe that expensive scanners such as Trade Ideas and Stocks to Trade are the only way they will be profitable in the markets. The truth is we could probably get by with using Think or Swims MarketWatch function but we like to use several criteria that make this time consuming. The best solution we have found is a scanner called TradingView. This is one of the more reasonably priced stock scanner / screener out there. We pay less then $100 a year for our Pro Subscritpion and it offers a lot more then just scanning.
Take a look at all the great features:
- Charts – A clean look with lots of power under the hood. TradingView charts are top quality without the hassle of installations and updates. A full-blown desktop experience with complete interactivity and tons of options, always with you in a secure cloud.
- Indicators – TradingView has 100+ indicators and 50+ intelligent drawing tools that cover most popular trading concepts. Proprietary Pine Script language lets you change existing indicators or create anything from scratch. There are 1000’s of scripts published by other traders in the public script library.
- Alerts – Immediate notifications when market moves meet your criteria. Alerts can be PUSH to phone, text message/SMS, webhooks, email or screen popups — so you won’t miss a beat! There are 12 different alert conditions that can be applied to indicators and drawing tools. All alerts run on powerful servers with backups for extra reliability.
- Algorithms – Pine Script lets you write custom indicators and strategies, and then measure performance through Bar Replay or Strategy Backtesting. Thousands of scripts that are ready for use have already been published by the active community of traders.
- Screener – Looking for a needle in a haystack? This filtering tool lets you find specific stocks, currencies or crypto among thousands that are out there. Sort & filter by 100+ fields and create custom screens to “find highest performing crypto pairs”, or “stocks that pay the most dividends in India”.
- Data – Direct access to all major stock exchanges, global currency pairs, worldwide indexes, 30+ crypto exchanges, and more. From any device, anywhere, and in real-time.
- Social – TradingView is one of the largest and most active social trading platforms in the world. Talk to millions of traders from 100+ countries in real-time, read and publish visual trading ideas directly on charts, or watch & record video ideas. Your style to successful trading is yours to make.
- Trading – Practice with a free Simulated Account with fake money or place live orders through one of many supported brokers right from the TradingView platform.
TradingView makes it easy to use all these features from anywhere and on any device by being 100% web based. They also give you on option to use an IOS or Android app but we find it to be a bit limited and use Chrome and the web version on our mobile devices.
For less then $100 dollars per year, we get the capability to look deeper into our stock selection by using criteria such as ATR, RVOL, and 10 day average volume. Let us know how you use TradingView or suggest other scanners you use.