Along the top of Finviz.com is a menu that provides traders with a number of tools for scouring and analyzing the market. Clicking the "Screener" tab will bring up the stock screener, where traders can screen for a list of stocks with chart patterns present.
One quick way to begin narrowing the world of stocks is to input volume and price criteria. This is accomplished using the Average Volume and Price drop-down menus, respectively, on the Descriptive tab of the screener (there are three tabs: Descriptive, Fundamental and Technical).
Figure 3. Stock Screener
From there, the search for chart patterns begins. Moving to the Technical tab of the screener presents a host of options for screening stocks, using technical analysis methods. To find chart patterns, make a selection from the Pattern drop-down menu. The list of stocks will be instantly updated, only providing stocks that fit the criteria entered so far.
Figure 4. Chart Pattern Screener
Altering criteria can produce very different stocks lists. Therefore, traders can play with selection criteria until they have a basket of stocks, which provide them with what they are looking for. Similar to the Quick Summary List addressed earlier, hovering over any of the ticker symbols in the list will create a pop-up chart with the chart pattern drawn on it for quick perusal by the trader. This is useful, but the list can also be viewed in all Charts formats.
Just below the screener, there is a menu bar with options for viewing the list. Options include overview (default), valuation, financial, performance, technical and charts, just to name a few. Each option provides different information on the stocks within the list for easy sorting and filtering. When dealing with chart patterns, viewing in Charts format is very advantageous, as many stocks can be quickly scanned to find one (or many) that is setting up for a potential trade.
Figure 5. Wedge Patterns in Charts View
Depending on the size of the list, many charts may appear, or only a few. If too few show up, relax the criteria or search for a different chart pattern. If too many results appear, make the criteria more stringent or search for a different chart pattern.
SEE: Introduction To Technical Analysis Price Patterns
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