Finviz is something completely different from most stock picking services. It is a stock screening tools package that is extremely useful for providing the bigger picture on not only all of the major markets but individual stocks as well. In this review, we will focus on the capabilities and assets Finviz brings to the table so that you can decide if the upgraded membership fee version of the stock screener is worth your hard-earned investment dollars.
In short: it is NOT a scam. Finviz is somewhat of a unique idea in a world overpopulated by stock picking services. It is actually a platform for stock market research that delivers potent fundamental and technical tools which are helpful to both traders and investors. For traders, it offers powerful financial analysis, invaluable research, and crystal clear visualizations. The basic level of the service is free, though naturally to access all of its many features you must join their premium Elite service.
Yet even free users gain useful access to a number of solid features. These include quotes, charts, and stock screening tools. Elite users get full access to the site and all of its many features. This version delivers ad-free displays, real-time data, intraday charts, fundamental charts, and even user defined alerts.
More than all this though, Finviz gives users a complete and whole picture of the entire stock market through its cutting-edged interface and one-stop shop platform. Even on the homepage, users can view an instant full overview of all major international stock market indices shown on candlestick charts. With only one rapid look, traders are able to understand the performance and direction of the entire market. By scrolling on down the page, a plethora of other useful information pours in, from news releases on stocks and earnings announcements to insider trading revelations. If anything, the sheer quantity and scope of the information that Finviz provides is daunting if not outright intimidating.
Purchasing the full version of Finviz provides you with a complete range of stock screening applications. This includes all of the following helpful tools:
The Finviz Screener is what makes it unique from other competitors in the stock picking arena. It is also the core of its offerings in the stock scanning software category. What makes this so powerful is that it is simple to utilize, very flexible, and highly versatile, whether in the Elite or the free version of it.
Finviz’s platform makes it possible for investors and traders alike to enter in certain criteria and information so that they can obtain a list of all stocks that match this particular set of criteria. Using this, you can search for stocks narrowed down according to beta, price, market cap, candlestick pattern, average volume, RSI, float short, shares outstanding, and/or sector. This is only a list of the more popular screening criteria too.
In other words, this helpful and easy to use scanner provides you with total control over your searches. When you find one that you like, you can simply save it for use another time. The stock screening feature literally saves dozens of man hours that would be required by a trader to engage in manual scans of the charts. This is what makes it so powerful and popular.
The news section on Finviz delivers a rapid fire list of headlines that you can also sort out according to their time of issue or their source. The news section is compiled from a range of no cost leading news feeds such as PR Newswire, Bloomberg, CNN, Wall Street Journal, Briefing, NBC, and MarketWatch. Well-respected and followed blogs are also streamed from free third party sources such as Seeking Alpha, Vantage Point Trading, Daily Reckoning, Zero Hedge, Calculated Risk, and Mish Talk. Thanks to this handy screening feature, you can zero in your news search to get more tailored headline results. It allows you to narrow down the news fast even on just one corporation.
Also among the tools that free users of Finviz benefit from are delayed quotes and charts. You can personally tailor the chart output to your own preferred style and settings too. For those paying Elite members, the data is current up to the minute. Data feeding the charts, back testing, and intra-day chart features is typically sourced in real-time.
Impressive looking and easy to grasp visuals are classic hallmarks of Finviz. They believe that this delivers all necessary information in a format that is quick and simple to absorb. Naturally, charts are a great example of this philosophy put into action. In the Finviz Elite members area, you can completely customize all charts to include real-time fed data for monthly, weekly, daily, and intraday chart time frames. You also have access to a pleasing range of charting styles, including Line, OHLC, and Candlesticks. The charting features include a great range of beloved indicators and overlays, while allowing you to utilize as many as five overlays and five different indicators at a single time on any individual chart. You personally determine the parameters of all indicators and overlays. This gives you supreme customization and fantastic flexibility in your final results.
Finviz can draw in resistance and support levels on all charts as a built in feature. All you have to do to activate such options is to click on the “Advanced” type of chart. In the area above the chart, you will find the range of options and features for each chart. Clicking on “Settings” to the right hand side will allow you to alter the scheme, style, indicators, and overlays.
One of the great areas where Finviz displays its power is in its back-testing feature. The program has exhaustively already back tested 15 different indicators with a range of parameters for 16,000 individual stocks over the last 15 years. Elite members can access these results using a breakdown of the indicators that gave the best and worst results versus a range of well-known benchmarks. The program color codes this massive list of results so that you can determine quickly which parameters and indicators gave better results and those that delivered worse ones. To get started with back testing, simply find the “Backtests” link located above every chart.
Elite members have the use of a powerful feature called correlations. This provides a number of advantages to traders, such as the capability to locate a stock that behaves like similar stocks or alternatively quite differently from them. As an Elite member looks at a stock chart, the program automatically lists out the inversely correlated and directly correlated stocks beneath it. Simply move your cursor atop a stock symbol in the list, and a miniature pop-up chart appears. In such a way, traders can visually understand how these correlated stocks charts compare to one another.
The alerts function of the stock screening program is greatly practical. When those conditions that you define and establish are met on a given stock or market, the program will send you an alert email. You can set up alerts for everything ranging from insider transactions and news releases to ratings changes. You can set them to watch for price movements below or above a pre-set price. In such a way, you are able to effectively monitor many symbols, receiving only those alerts that you wish in emails. After an alert comes out, you have the options to change or remove it entirely.
Finviz gives you the capability to set up all stocks that you are watching or own in portfolios that you can individually name. This powerful function then allows you to set up a particular alert for all of a portfolio’s stocks. When even one stock within the portfolio hits criteria of the alert, you will be emailed.
The Finviz program provides useful heat maps on a from three to five minute time delay independently of intraday charts. These snapshots deliver quick analysis of huge amounts of financial market data. You obtain a wide overview of the market with the standard provided ones.
You can also narrow them down considerably to focus on heat maps for particular groups of stocks, sectors, countries, industries, or exchanges. When you find a particular stock or industry whose heat map interests you, it is easy to perform additional analysis and research on it. Heat map features come complete with output display controls so that you are able to personalize and tailor the look according to squares or bubbles as you prefer.
Finviz customer support focuses on billing and payment issues. They offer seven days a week, 24 hours per day support by email and phones. From here, you can upgrade or downgrade the level of membership to Finviz that you have from basic to Registered and Elite levels and features.
One of the features that we like most about Finviz is that any individual can utilize it directly from their website at no charge. The company does reserve some of the most powerful features and current data for its two levels of upgraded membership. Registered free (or Premium) and Elite are the two upgraded memberships. Even the free membership gives information with only from three to five minute delays on data feeds for quotes, charts, and screenings.
With the Premium level of service (registered free plan), you get free access to all daily charts, limited results from screeners, as many as 50 preset screeners, portfolio tickers, and all free access features.
The Finviz Elite membership level includes the most advanced and current back tests, charts, real time heat maps, email alerts for price, news, ratings, insider trading, correlations, and as many as 100 preset screeners. You also get real-time screening, charts, and quotes, intraday charts, technical studies, and fundamental charts. You can maintain as many as 100 portfolios with 100 tickers per portfolio. There are no annoying ads running on this full service with Finviz, and it even includes the ability to export your screens. The membership fee for this highest level of service amounts to $39.50 on a monthly basis or $299.50 on an annual paying basis (for a 37 percent savings for prepaying for a year). You can cancel this Elite level of paying membership at any time.
As stock screeners go, this could be the best. Users do not even have to join the service or pay for a membership to have immediate access to it. We like the enormous amounts of information it conveys pictorially in such a user friendly, easy to utilize manner. The ads on the free version are annoying, but are to be expected when you are getting to use the service absolutely for free.