Most of the time free trading resources aren’t worth the time it takes to visit the site, not so with this amazing stock screener.
Trade ideas — we need to find them somewhere. After all, there are over 7,000 stocks trading on the exchanges at any given time. And you don’t have a billion dollars to trade them all with. So you’ll have to do some narrowing down.
For the most part I use Telechart for all of my scanning needs. I can customize a ton of different scans and searches and find close to anything I’m looking for. It comes with charts on my phone, my iPad, on the web or downloaded onto my hard drive. And at $30 a month, it cannot be beat.
Anyway, before I start to turn into a commercial for Telechart (I’ll put up a post about their service one day soon) let’s get back to ChartMill.
There are a few free stock screeners you can use on the web. Finviz is another one of my favorites (you can read about it here), and most brokerages come with a scanning tool (TradeKing has a great pattern recognition scanner).
What I like about ChartMill is their user friendly interface, their focus on charts, and the prepackaged scans that show up on their homepage that usually contain some good trade ideas. For instance, a couple weeks ago I did a post on pocket pivots — and ChartMill has a scan for those.
Here you can see a pocket pivot screen chart for FSLR that shows the signals on the chart. this is how ChartMill returns all of it’s screener candidates. Not bad.
Like I said, no doubt you have a ton of free stock screeners to choose from on the web, but in my opinion ChartMill is one of the best.
Full Disclosure: I am NOT affiliated with ChartMill in any way. I just like telling my readers about awesome free trading tools.