The ultimate guide to setting up the Finviz screener for swing trading

Summary
Swing trading is a popular trading strategy that focuses on capturing short-term price movements in the market. Traders who employ this strategy aim to identify stocks that are poised for a temporary price change, known as a swing, and profit from it. One of the biggest challenges for swing traders is finding the right stocks to trade. However, with the help of advanced screening tools like the Finviz screener, this process can be made much easier and more efficient.

What is the Finviz screener?

The Finviz screener is a powerful tool that allows traders to filter stocks based on a wide range of criteria. It provides traders with the ability to scan the entire stock market and narrow down their focus to a select few stocks that meet their specific trading requirements. The screener offers a variety of filtering options, including technical indicators, fundamental data, and market cap. This allows traders to customize their search and find stocks that align with their trading strategies.

Why use the Finviz screener for swing trading?

The Finviz screener is particularly useful for swing traders due to its wide range of filtering options. Swing traders often rely on technical indicators to identify potential swing opportunities, and the screener offers an extensive list of technical indicators to choose from. Traders can filter stocks based on indicators such as moving averages, trendlines, and oscillators to find stocks that are exhibiting favorable swing trading patterns. Moreover, the screener also provides fundamental data, which can be valuable for swing traders who consider both technical and fundamental factors in their analysis.

Setting up the Finviz screener for swing trading

To effectively use the Finviz screener for swing trading, it is important to understand its various features and how to best customize the filters to suit your trading strategy. Here are the key steps to setting up the Finviz screener for swing trading:

Step 1: Define your swing trading strategy

Before you start using the screener, it is important to have a clear understanding of your swing trading strategy. This includes defining your preferred time frame, identifying the technical indicators you rely on, and determining the specific criteria you look for in swing trading setups. This will help you refine your filter settings in the screener and narrow down your focus to stocks that are most likely to meet your requirements.

Step 2: Choose your desired filters

The Finviz screener offers a wide range of filters that can be used to screen stocks. These filters can be found under the "All" tab in the screener interface. Some of the key filters that are relevant to swing trading include price, volume, average volume, and technical indicators. Choose the filters that align with your swing trading strategy and adjust the settings accordingly.

Step 3: Set up advanced filters

In addition to the basic filters, the Finviz screener also offers advanced filters that allow for a more precise screening process. These advanced filters can be found under the "Descriptive" tab in the screener interface. Some of the advanced filters that can be useful for swing trading include market cap, sector, and industry. These filters can help you further narrow down your search to stocks that fit your specific trading preferences.

Step 4: Save your screener settings

Once you have customized your filters to your liking, it is a good idea to save your screener settings for future use. This will allow you to easily access your preferred filters without having to set them up from scratch each time you use the screener. To save your screener settings, click on the "Save Screener" button at the top of the screener interface and give your screener a name.

Step 5: Review and analyze the results

After applying your filters, the Finviz screener will generate a list of stocks that meet your criteria. Take the time to review and analyze these results to identify potential swing trading opportunities. Pay attention to technical patterns, recent price movements, and any news or catalysts that may impact the stocks. This will allow you to make informed trading decisions based on the information provided by the screener.

Frequently Asked Questions (FAQs)

  • Q: Can the Finviz screener be used for day trading?

    A: Yes, the Finviz screener can be used for day trading as well. Day traders can customize their filters to focus on short-term trading setups and use technical indicators to identify stocks that are likely to experience intraday swings.

  • Q: Is the Finviz screener free to use?

    A: Yes, the basic version of the Finviz screener is free to use. However, there is also a paid version, Finviz Elite, which offers additional features and real-time data for a subscription fee.

  • Q: Can the Finviz screener be used for other types of trading strategies?

    A: Yes, the Finviz screener can be used for a variety of trading strategies, including momentum trading, value investing, and growth investing. The customizable filters and wide range of criteria make it a versatile tool for different trading approaches.

  • Q: Can I export the results of the Finviz screener?

    A: Yes, the Finviz screener allows you to export the results to various formats, including CSV and Excel. This can be useful for further analysis and record-keeping.

  • Q: Are there any other similar screeners available?

    A: Yes, there are other screeners available in the market, such as Trade Ideas, StockFetcher, and Market Chameleon. Each of these screeners offers its own set of features and filters, so it's worth exploring and comparing them to find the one that best suits your trading needs.

Conclusion

The Finviz screener is a valuable tool for swing traders looking to identify potential trading opportunities. By customizing the filters to suit your swing trading strategy, you can quickly narrow down your focus to stocks that meet your specific criteria. The screener's wide range of filtering options, including technical indicators and fundamental data, allows for a thorough screening process that can help you find the best swing trading setups. By using the Finviz screener effectively, you can enhance your swing trading success and increase your chances of capturing profitable trades.


23 October 2023
Written by John Roche