It’s been a while since I introduce tools that will helping in our trading.

With the advent of the internet, nowadays, we can find a plethora of trading tools and information on the internet. Before I take the plunge and purchase any trading-related software on the internet, I always google first. More often than not, I am presented with some pleasant surprises!

Let’s take about stock chart monitoring. I began with monitoring stocks manually. That is, opening up the charts of my radar stocks one by one every day and check the various indicators, candlestick and chart patterns and support and resistance lines etc. I thought to myself, in this manner, I would be missing out on other opportunities which the stocks are not under my radar! I thought it would be nice to have a stock screener based on technical analysis and began searching for one. And guess what!!!

Stock screeners based on fundamental analysis are a plenty. Personally I like the Deluxe Screener at MSN Moneycentral (only usable with Internet Explorer) and also the one at Yahoo! Finance. I have found a stock screener based on technical analysis that I liked at StockFetcher.

It is free!

Well, almost. At least most of the features I require are free. As a free loader, I only get to see the top 5 results for any screen. But if I configure my screens stringent enough, 5 everyday is all I need

It is very flexible!

StockFetcher allows me to set up my own technical screen in a command phrase manner. Although it may take some effort to come up with the command phrase, but it gives me unseen-before flexibility. Let me show you what I mean and how I use this:

1. Let’s say I want to find stocks which the 20-day moving average and 50-day moving average had crossed and the MACD had also crossed. From the homepage, click as shown in the figure below:
   
2. Here is the screening results for the 13-day moving average and 50-day moving average.
   
3. On top of the results table is where the application rocks! The command phrase text box shows exactly how the screen is constructed. Here , I can adjust the paramaters in any way I want and click on the “Fetch Stocks!” button to get the results! Let’s say I change from 13-day
   
   to 20-day.
   
4. I open up another window and go to the StockFetcher homepage once again . Now I click as shown below:
   
5. From the command phrase text box, I can copy the command phrase I need.
   
6. Paste it to first command phrase (add a “and” before the pasted command phrase).
   
7. Lastly, click “Fetch Stocks!” button to get the end result I need.

I can use it to backtest my screen!

So now I have set up my technical screen, how can I find out if it works? Well, at StockFetcher, you are able to backtest your technical screen to see if it would have made you money! For free subscribers, we onlly get up to 2 weeks of historical stock data for backtest though. Check out the price plan comparison table and decide if you want to subscribe for up to 2 years of historical backtest data and other features.

There’s more!

From the results, I can click on the individual stocks to view detail information and also charts.

I can also keep watchlist for the screens that I have created (up to 4 for free loaders)

Then there is the more interactive StockFetch 2.0 that presents the all of the website features in a more interactive manner (in flash).

A good technical stock screener with slightly high learning curve.

If you find this post or this blog is helpful to you in any way...do consider buying jmot a kopi (aka coffee)!

Popularity: 20% [?]