Finviz Elite Stock Screener: Backtests And Other Chart Features
The ability to see how a certain method of trading or technical indicator has performed in the past can save traders a lot of time. If it hasn't worked in the past, it probably won't work in the future. On the other hand, there is no guarantee that positive past performances will carry forward into the future either.
Yet, Finviz has comprehensively backtested 15 indicators, using many parameters over 15 years and on 16,000 stocks. The findings of these backtests are available only to Finviz Elite members, and there is a breakdown of which indicators faired the best and the worst against a variety of benchmarks.
The extensive list of results is colored coded to easily see which indicators and parameters worked well and which ones didn't.
An easy way to access the backtest report is to click on the "Backtests" link located just above a chart.
SEE: Benchmark To Show Winning Returns
Figure 4: Finviz comprehensively backtests 15 indicators, using many parameters over 15 years and on 16,000 stocks. This feature is only available to Finviz Elite members.
Correlations have many benefits to traders, including the ability to find stocks that act like other stocks, or move very differently. When Elite members view a stock chart, a list of correlated and inversely correlated stocks is provided below it.
As with any feature on Finviz, when you hover your cursor over a stock symbol, a small pop-up chart will appear. Therefore, the list of correlated stocks allows traders to quickly see how the stocks move together by comparing their charts.
The list of inverse correlation stocks move in the opposite direction of the stock being analyzing. These stocks are commonly used for hedging purposes.
SEE: Backtesting And Forward Testing: The Importance Of Correlation
Figure 5: Finviz Elite members are able to view a stock chart with a list of correlated and inversely correlated stocks.
In a busy world, being alerted when certain events occur within a stock or your portfolio can be a big advantage. The alerts will send you an email when certain conditions, which you set up, are met.
Set alerts for rating changes, news, insider transactions or if the price moves above or below a specific price. Multiple symbols can be monitored in this fashion, and you set which alerts you wish to receive. Once you have received an alert, you can choose to remove or alter it.
You can also add all of the stocks you own, or wish to monitor, into a named portfolio on Finviz. Alerts can then be set for the entire portfolio and an email will be sent to you if any stock in your portfolio meets the criteria that you specified.
If you wish to change the email the alerts are sent to, this can also be changed on the alerts page.
When setting up or changing alerts, remember to click "Save Changes." Alerts are accessible through clicking the "My Account" link in the upper-right-hand corner of the site.
Figure 6: Remember to hit "Save Changes" after changing the settings for alerts.
Some additional advantages of the Finviz Elite upgrade include "fundamental charts" for EPS, Sales and Shares. These charts show a quick visual of how these fundamental indicators have changed over time.
When viewing a company's stock, the officers of that company are shown in a concise list.
Members can have up to 100 portfolios, tickers per portfolio and screener presents. Registered users (free) can have up to 50.
The free version of Finviz includes advertising, but for Elite members the site is cleaner advertising free. Finviz Elite Stock Screener: Conclusion
Using simulated trading to practice buying and selling securities ...
A graph that shows the change in value of an initial $10,000 ...
A trading account that allows an investor to review and test ...
A money-making strategy that teaches investors a common-sense ...
An interface or "go-between" that enables a software program ...
The use of wireless technology in securities trading. Mobile ...