The Trend Trading Blog

Trading Trends Across Stocks, Forex & Commodities

How to Use TradingView’s Stock Screener

I am a trader of US stocks, Forex and commodities. However there are thousands of US stocks alone, so we need some sort of scanner/screener to filter through them to find the best opportunities for our own trading strategies. I use TradingView for my stock scans, by using the in built stock screener.

Overview

TradingView is an excellent and affordable software for retail traders. It’s excellent for charting and technical analysis, offering nice clean price charts. However it’s TradingView’s stock screener that really brings it into its own in terms of its affordability to power ratio.

TradingView offer 3 paid for options; Pro, Pro+ and Premium. I use the Pro+ option at $19.95 per month, which gives me everything I need as a trend and swing trader. It enables me to have multiple charts per layout, multiple layouts, watchlists, multiple devices and the all important stock screener, plus much more.

To read my in depth blog post on trading software, click here.

The Stock Screener From TradingView

TradingView does offer a Crypto and Forex screener as well, however I do not trade cryptocurrencies and I manually filter through Forex on a weekly basis. As mentioned however, my stocks analysis does requires some refinement.

Above is a screenshot of TradingView’s stock screener. Along the top you can choose to show your filtered stocks in a number of ways. I usually view them by performance. This gives each stock on the list with a percentage change over a number of time periods. I have the US market selected, with the stocks shown in order of top gainers. This is also the place where I select which time frame I would like my filters to apply to. I would use the daily time frame, as shown.

On the top right of the screenshot above, highlighted blue is where you can adjust and personalise the filters you wish to apply to the stock screener.

Descriptive Filters 

When I’m doing my scans I start with the descriptive filters. The descriptive filters I use can be applied to both the pullback and breakout strategies that I trade. Some descriptive filters I use, include:

  • Volume at least 500K
  • Average volume (60 day) at least 250k
  • Sectors (depending on which are best performing sectors at the time of scan)
  • Open greater than close to find only stocks with bullish bars (only if i’m specifically scanning for buy setups)
  • Pre-market close to be greater than $20 to filter out low price stocks

In the descriptive filters you will also choose which symbol types you’re looking for and from which exchange, i.e. NYSE.

The filters highlighted blue in the screenshot above are those mentioned above.

Technical Filters

My technical filters will differ depending on which strategy I’m scanning for. For breakout entries I’ll be selecting the following:

  • Closing price above 200 simple moving average (gives me a bullish bias)
  • Closing price above 100 simple moving average
  • Closing price above 50 simple moving average (gives me a bullish trend)
  • Closing price above 20 simple moving average

These criteria will give me stocks that are most likely in good trends. If I’m specifically looking for entry setups I’ll select the checkbox next to new 52 week high. However If i’m just looking to build a watchlist I’ll leave this unchecked and filter through those stocks trading above their moving averages.

Again the blue highlighted filters above are those I have edited. I have also unchecked the new 52 week high box because as of writing this article, the stock market wasn’t offering any 52 week highs. Unchecking this box gave me 13 matches.

Pullbacks

For my pullback strategy the technical filters I use are slightly different. They include:

  • Closing price above the 200 simple moving average
  • Closing price below the 10 simple moving average
  • Opening price below the 20 simple moving average

The above criteria will therefore give me all stocks with my relevant descriptive criteria all trading between their 200 and 20 simple moving averages. I would then manually filter through the output of this scan to find the best opportunities with strong support and resistance.

Additional Filters

If we are in a market that is producing a lot of either breakout or pullback opportunities, then some additional tweaks could be made to your scan.

These could include:

  • Increase volume to 1m
  • Increase average volume to 500k
  • Select gaps above a certain percentage for breakout opportunities
  • Select the new all time high checkbox
  • Closing price above 100 or 50 simple moving average to find shallower pullbacks

Create a Routine

Once you’re happy with the scans you run that apply to your own trading strategies, make sure you keep them consistent. Decide when you’ll run them as part of your trading routine. Using this tool from TradingView will help minimise the time you spend manually analysing individual stocks. The stock screener will instead give you the top opportunities based on your own trading style.

Click here to find out the additional things I look for in a stock when analysing them, to find the most profitable opportunities.

If you want to create your own account with TradingView to start scanning stocks today, click here.

Time to Change?

If you’re new to trading or are having a hard time in the markets, it’s time to change.

If my approach to the markets interests you, please get in touch:

[email protected]

Thanks for Reading!