Comprehensive Guide to the Top Stock Screeners of 2021

What is a Stock Screener?

A stock screener is a vital tool for traders and investors, providing a platform to filter stocks based on user-defined metrics. These screeners access a vast database of company information, including financials from balance sheets, profit and loss statements, quarterly results, cash flow, shareholding patterns, and much more. With over 1200 financial ratios available, users can set precise filters to isolate stocks that meet their investment criteria.

Key Features of Stock Screeners

• Extensive Database: Access detailed financial data from numerous listed companies.
• Customizable Filters: Set specific criteria based on financial ratios and other key indicators.
• User-Friendly Interface: Simplify the process of finding investment-worthy stocks through an intuitive setup.

How to Utilize Stock Screeners Effectively

To maximize the potential of stock screeners, follow these strategic steps:

1. Select the Right Platform: Begin by choosing a screener that aligns with your investment goals and offers the necessary tools for your trading style.
2. Define Your Criteria: Specify the variables such as market capitalization, debt levels, revenue growth, etc., to focus your search on stocks that meet these parameters.
3. Analyze Chart Patterns: Use the screener to identify favorable chart patterns and perform backtesting to ensure reliability.
4. Set a Time Frame: Align all filters and strategies within the chosen investment period.
5. Focus on Volume: High-volume stocks typically offer better liquidity, making it easier to enter and exit positions.
6. Conduct Independent Research: Complement screener results with your own research, including recent news and financial analyses.
7. Keep a Trading Journal: Document your trades and strategies to refine your approach over time.
8. Create a Watchlist: Monitor potential stocks and make informed decisions based on real-time market data.

Best Stock Screeners of 2021

Here’s a detailed look at some of the top stock screeners from 2021, each offering unique features to cater to different trading needs:

Finology Ticker

• Features: Offers a customizable filter based on over 1200 financial ratios.
• User Guide:
  • Type your query.
  • Choose from suggestions.
  • Run the screener.
  • Analyze the results.

Trade-Ideas

• Specialty: AI-driven insights tracking real-time market movements.
• Customization: Offers customizable pre-set scans based on technical, fundamental, and social data.

Edelweiss Mobile Trader

• Accessibility: User-friendly for both beginners and experienced traders.
• Availability: Free on mobile platforms with options for lite and elite plans.

Trendlyne

• Focus: Combines technical and fundamental analysis.
• Subscription: Offers both free and paid versions, starting at Rs.2150 annually.

TradingView

• Integration: Web-based charting and screening with real-time data from global exchanges.
• Tools: Features include watchlists, news feeds, and customizable stock scans.

Investing.com

• Coverage: Extensive filters covering price, fundamentals, ratios, and more.
• Platform: Offers detailed quotes and charts for NSE and BSE listed companies.

Zerodha’s Pi

• Versatility: Includes filters for financial ratios, technical indicators, and broker ratings.
• Functionality: Allows for real-time scanning during trading hours.

Money Control

• Updates: Provides the latest information from both Indian and international markets.
• Features: Supports voice-based searches through its mobile app.

Google Finance

• Free Access: Offers stock screening tools without charge, with additional in-app purchases.
• Features: Includes market trends, real-time quotes, and an earnings calendar.

Investello

• Comparative Analysis: Allows for peer comparison and provides daily updates.
• User Interface: Features a user-friendly dashboard with normalized figures.

Conclusion

Stock screeners are indispensable tools for modern traders and investors, offering a streamlined approach to market analysis and investment selection. By setting precise criteria, users can efficiently sift through vast amounts of data to find stocks that align with their investment strategies. The best stock screeners of 2021 provide a range of options tailored to different needs, from AI-driven analytics to user-friendly interfaces for beginners.