How To Spot And Screen For Chart Patterns With Finviz: Comprehensive Chart Pattern Screener
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).
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.
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.
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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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.
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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.
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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
Next: How To Spot And Screen For Chart Patterns With Finviz: Manually Filter The Results »
Table of Contents
- How To Spot And Screen For Chart Patterns With Finviz: Introduction
- How To Spot And Screen For Chart Patterns With Finviz: Quick Summary List
- How To Spot And Screen For Chart Patterns With Finviz: Comprehensive Chart Pattern Screener
- How To Spot And Screen For Chart Patterns With Finviz: Manually Filter The Results
- How To Spot And Screen For Chart Patterns With Finviz: Conclusion
by
Cory Mitchell
Cory Mitchell is a proprietary trader and Chartered Market Technician specializing in short to medium-term technical strategies. He is the founder of VantagePointTrading.com, a website dedicated to trader education and market analysis.
Graduating with a business degree, Mitchell has been trading multiple markets and educating traders since 2005. He has been widely published and is a member of the Canadian Society of Technical Analysts and the Market Technicians Association. His free weekend newsletter includes trading strategies, tutorials, as well as stock and forex market analysis.
Graduating with a business degree, Mitchell has been trading multiple markets and educating traders since 2005. He has been widely published and is a member of the Canadian Society of Technical Analysts and the Market Technicians Association. His free weekend newsletter includes trading strategies, tutorials, as well as stock and forex market analysis.
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