Traders try to find trading opportunities across a wide range of stocks everyday. But it is impossible for a trader to manually scan thousands of listed stocks everyday. Traders use a stock screener that scans thousands of stocks as per the criteria provided. This saves a lot of time.
This blog provides insights into what screeners are and some of the most important intraday stock screeners every trader must know about.
What are stock screeners?
Stock screeners are softwares that scan and filter stocks as per a given set of rules. There are over 4,289 listed stocks on the Bombay Stock Exchange (BSE) and over 2,400 stocks on the National Stock Exchange (NSE), which makes it impossible for a trader to manually go through all of these stocks on a daily basis. The intraday stock screeners help traders increase their efficiency by saving them time and effort to manually go through stocks.
For example, a stock screener can go through all the listed companies to find those stocks that are trading at their 52-week high price with 1-month high volume. This can save traders a lot of time and effort.
For Indian traders there are a number of stock screening softwares available. Some screeners are best for filtering stocks based on fundamental aspects whereas some intraday screens help in finding stocks based on their volume and price action.
Let us look at the best 5 screeners that every trader can use to enhance their trading experience.
An interesting read: Intraday vs delivery trading: Unravel the key differences and similarities
Chartink
Chartink software helps traders screen and filter stocks based on a wide variety of customizable aspects. This platform allows traders to create custom real-time scan formulas using different technical indicators to create trading strategies.
Some of the features of this platform are:
- Fundamental scan – Allows multiple fundamental aspects to be combined to form a single stock screener. These fundamental aspects include EPS, sales growth etc.
- Technical scans – Allows the use of technical indicators to filter stocks based on price, volume, and other technical indicators in real time.
This software comes with built-in indicators and customizable indicators that can filter stocks based on a wide number of selection criteria. It is one of the most widely used real-time software screeners for intraday trading .
Screener.in
Screener.in is a stock screening software that is mainly used for filtering stocks based on fundamental aspects. But this software is gaining popularity among intraday traders also. This software provides a mix of fundamental and technical indicators that allows traders to find fundamentally good stocks with short term technical trading opportunities.
Some features unique to this software include:
- Famous methods screeners: Screener. in has stock screeners based on famous methods used by professional traders. These screeners have been adopted from famous books on trading and investing. For example, Coffee Can Portfolio is based on the book Coffee Can Investing.
- Customised fundamental screens: This software also gives a very wide range of customized fundamental indicators that help traders in finding stocks according to their personalized needs.
This platform does not have real time market scanners. So, intraday traders might have to use stock alerts along with this software.
Trendlyne
Trendlyne software can prove beneficial for intraday traders who are extensively using Technical analysis tools like price breakouts, volume breakouts, technical indicators breakouts and crossovers etc.
Some features that are unique to this platform are:
- Real-time technical analysis screener: This platform provides a real time screener for technical indicators like moving average crossovers and other technical analysis indicators. For example, real time screener for stocks crossing above its 100-day SMA on daily charts.
- Real-time breakout screener: This platform provides an extensive range of real time price breakout screeners. For example, breakout of price above key technical levels, breakout of volume, etc.
Additionally, this platform has screeners for intraday stocks with rising and falling open interest in futures and options segments.
Also read: The advantages of using a weekly chart
Stockgro
Stockgro platform provides automatic candlestick pattern detection for intraday traders. This screener scans stocks for the formation of candlestick chart patterns on the five minutes chart. This saves traders a lot of trouble of going through a large number of stocks manually to detect candlestick patterns.
Some features unique to this platform are:
- User-friendly interface: The stockgro software has a user-friendly interface that does not require a trader to be a professional. This tool can be used by beginners with ease.
- Price and volume screeners: Stockgro also provides traders with a wide range of price and volume scanners that use price and volume information to filter stocks in real time.
This platform can be appropriate for beginners who are just starting out in trading because this platform also provides a virtual trading feature where beginners try their hands on trading using virtual currency before risking real money.
Tradingview
Tradingview platform provides a screener for stocks based on real time technical indicators and fundamental aspects. These screeners help traders find intraday stocks by filtering and screening stocks on a wide range of technical and fundamental aspects.
The unique features that Trading View provides its users are:
- Global markets: It provides access to global markets. Unlike all other screeners this platform has data for listed stocks of all the countries. This feature helps traders track international markets too.
- Timeframe adjustment: Trading view screeners have an option of adjusting the timeframe. For example, you can track a real-time breakout of price above 200 EMA on different timeframes like 5 min chart, 1 hour chart, 1 day chart etc.
Tradingview stock screener can be helpful for intraday traders as well as seasoned long-term traders.
Also read: Technical Analysis Tools: Uses, and Examples Explained
Bottomline
Investors can go through all these platforms and find the one that is most appropriate for them. The selection of an intraday stock screener depends on the trading style of the trader. By leveraging the right intraday screener, traders can increase their efficiency, identify profitable opportunities faster, and execute trades with confidence in 2025.
FAQs
1. Can stock screeners guarantee profits for intraday traders?
No, screeners do not guarantee a profit, stock screeners help traders filter stocks based on a given set of rules. This can help traders increase their efficiency but there is no sure profit. There should be proper risk management and proper analysis on the part of traders.
2. Which stock screeners can be most beneficial for intraday traders?
Trendlyne and Stockgro can be the best for intraday traders as they offer real-time price breakouts, volume alerts, and candlestick pattern detection to identify quick trading opportunities. These screeners can help increase the efficiency of intraday traders.
3. Can long-term investors benefit from the use of stock screeners?
Yes, long term investors can also use stock screeners to find stocks for their research. Instead of going through thousands of listed stocks, long term investors can put their stock picking conditions like earnings growth, profit margins, debt to equity ratios etc in a stock screener and can obtain a list of stocks as per their requirements.
4. Can stock screeners help in reducing trading biases?
Yes! Stock screeners apply objective filters based on data, helping traders avoid emotional or biased decisions. Instead of picking stocks based on gut feeling or past favorites, traders can focus on real opportunities that match their strategy. This approach keeps emotions in check and improves decision-making with facts, not assumptions.
5. Are AI driven stock screeners more helpful than traditional stock screeners?
Modern day AI-driven screeners that automate pattern detection and adapt to market conditions, making them useful for quick scans. However, traditional screeners may offer more customization, allowing traders to fine-tune strategies. AI might enhance efficiency, but experienced traders can prefer manual tweaks to maintain control.
