How to Use Finviz | Step-By-Step Guide
Stock screening is an extensive process that requires plenty of time and efforts. In order to overcome these challenges and optimize their stock-picking methodologies, many traders shift their focus to stock screening software.
As of now, there are plenty of such platforms that can help you scan instruments, find new investment opportunities and improve your returns. One of the most popular solutions is called Finviz.
Finviz is a visualization tool that eases the stock screening process and provides rich functionalities, available entirely for free.
In the next few lines, you will find out how to use Finviz and get the most out of the platform to help you make more informed decisions and become a better trader. Transparency: When you buy certain products from some of the sites which we link to, we may earn a small share of the revenue.
Step-by-step guide included!
See also: Finviz Stock Screener Review
What is Finviz?
Finviz is a free financial visualization tool that provides plenty of functionalities for technical and fundamental analysis to help you improve your stock screening process.
Finviz is a great tool to use if you want to build your portfolio from scratch or just look around for a new worthy investment opportunity.
Thanks to its powerful stock screening features, such as quotes, news, maps, charts, alerts, technical indicators, etc., Finviz turns the search through massive amounts of stock data into an easy-to-navigate process.
The software has a rich list of filters that help you discover the stocks that best fit your search criteria.
Finviz presents the analysis in an easy-to-comprehend and highly visual way, which makes it a perfect tool even for beginner traders.
Although many traders find it hard to learn how to use Finviz, the truth is that with a little guidance, you will get familiar with all the features and functionalities of the platform. So let’s find out…
How to use Finviz for free?
Even though the financial data providers sector is so competitive, stocks information and financial data still remain an expensive service for the average day trader.
However, Finviz I here to change that.
Aside from its rich features and functionalities, the best thing about Finviz is the fact that it is completely free.
If you want to take advantage of Finviz for free, you have two options:
1) Use Finviz without without registering as a guest
If you don’t want to make an account, you can choose to use Finviz as a guest. Click here to use Finviz for free.
However, not having a free account limits the number of features and functionalities that you can take advantage of.
As a guest, you will be able to explore the site and do everything, except saving and exporting data (Portfolio and Collaborative features). Also, for guests, the market data is delayed.
2) Sign up for a free account for more functionalities
The better way to take advantage of Finviz is to sign up for a free account. The process is easy and very straightforward.
Once you are registered, you can take advantage of far more features and functionalities (for example - you can collaborate with your peers or save your portfolio).
It is worth noting that financial data for both – guests and registered users is delayed by 15 minutes for NASDAQ and 20 for NYSE and AMEX.
Click here to register for a free Finviz Account now (no credit card needed).
Use Finviz Elite for day trading
Day traders usually focus on trading liquid stocks that have experienced significant price movements.
However, on a day-to-day basis, these stocks may change.
In order to keep track of the stocks that fit a certain trading methodology’s criteria or narrow down the investible universe, one needs a fully-functional stock screening software.
The Finviz Elite account provides everything you need in order to improve your day trading performance.
Day traders rely predominantly on quick access to easy-to-comprehend information (mostly technical indicators).
Finviz is a great choice for advanced charting for intraday, daily, weekly and monthly periods.
Traders can choose to combine a few indicators in one chart, to help them derive better conclusions about the expected performance of a particular stock.
Finviz Elite is widely renowned for its flexibility and chance for personalization.
Yes, there is a free version of Finviz.
Apart from that, it also provides access to pre-market data which is essential for day traders who want to gain an edge and spot the pre-market movers before the opening bell.
One of the best features of the platform is the way it simplifies crucial information, relevant to day traders’ decisions, such as which are the top gainers, losers and the instruments with the most unusual trading volume.
However, once you are ready to take your day trading to a whole new level of profitability, then start using Trade Ideas, the best stock scanner for less than $3 per day.
See also: Trade Ideas Review
How to use Finviz for penny stocks
Finviz is a popular platform for penny stocks screening. It provides fast and easy access to the cheapest stocks on the market.
The screeners can be adjusted according to your preferences and filter only relevant stock suggestions, based on pre-defined criteria.
Here is an example of how to use Finviz to find nano-cap stocks.
Finviz futures heat map
Finviz provides traders with the opportunity to take advantage of detailed market maps, providing a snapshot of the rich investible universe – from stocks in S&P500, through ETFs, to foreign shares.
The maps can be transformed in bubbles for easier navigation, as well as filtered by relevant metrics, such as P/E, periodical performance, dividend yield, analysts’ recommendations, etc.
Benefits of Finviz Elite
For those who want to avoid delays and take advantage of real-time and pre-market data, there is the “Elite” package.
It allows traders to see the movers before the opening bell with data available at 9 am EST each trading day.
- The cost of Finviz Elite is available in monthly ($39.50 per month) and annual subscription ($24.96 per month).
For the listed price, you will get access to a variety of functionalities and professional tools, such as:
Finviz Elite is popular among all types of traders – from independent investors, through beginners, to corporate clients.
As lined out in out Finviz review, with Finviz Elite, you can also get rid of the ads.
Best Finviz Scans
Defining “the best scans” is quite relative as it depends on the trader’s preferred strategy.
However, the good thing is that Finviz provides you with the freedom to experiment with a wide variety of scans to help you find the best investing opportunities.
Here are some possible scans that you can start with:
Stocks that have been and may continue to decline
A good idea is to keep an eye on stocks that are heading for a nose-dive.
That way, the trader is capable of identifying when a resistance level can be expected, thus buy at the lowest price possible.
Here is an easy way to filter these stock:
Stocks on the rise
To check the stocks that are currently on a bullish trend and are expected to have another positive day, you can try the following scan scenario:
To find out how to use Finviz to find overbought stocks that are worth trading, check the following image. It contains a simple scenario with just 3 filter criteria:
After you run a particular stock screening scenario, you will get results in a simplified and easy-to-comprehend way.
You can easily navigate through the stock suggestions and choose the instrument that you consider the best fit for your investment strategy.
How to Use Finviz? My Conclusion
Finviz is an affordable and very powerful stock screener, available to all investors entirely for free.
By using Finviz, traders can take more informed decisions about stocks’ financial information, technical indicators, valuation, events, etc., thus achieve better performance and increase their returns.
Thanks to all the features and functionalities of the web-based platform, individuals can take advantage of:
containing quotes, charts, market maps, etc. Registering for the free version unlocks plenty of features like customized layouts, portfolio builder, screener presets, etc.
So, in a nutshell – if you learn how to use Finviz, you will improve your performance massively and take advantage of a powerful assistant entirely for free!
The free Finviz version is a great starting point for swing traders and position traders.