Swing trading is a trading strategy that capitalizes on short- to medium-term price swings. Smart traders make use of stock screeners to filter through thousands of stocks based on specific criteria and identify potential trades. A good swing trading stock screener will have customizable filters, technical indicators, and real-time data to identify the best swing trading setups. These tools simplify the process of finding stocks that match your trading plan, saving time while increasing your chances of success.
Your swing screener should help you identify chart patterns, trading volume, and key resistance levels. Whether you’re a beginner or an experienced trader, knowing how to use a stock screener with your trading strategy is key to your trading growth!
The team at StocksToTrade put together a basic swing trading stock screener of stocks under $20, with a 10-day gain of more than 10%. Here’s what’s coming up right now:
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Swing Trading Screener FAQs
Which Screener Is Best for Swing Trading?
The best screener for swing trading depends on your trading style and swing trading strategy, but StocksToTrade is first on my list. It’s a powerful trading platform that offers top-level technical analysis tools, customizable filters, and advanced charting options, making it ideal for swing traders. I helped to design it, which means it has all the trading indicators, news sources, and stock screening capabilities that traders like me look for in a platform.
Grab your 14-day StocksToTrade trial today — it’s only $7!
When choosing a screener, look for features such as technical indicators, volume analysis, and real-time data. The ability to customize your screening criteria is critical, as it allows you to focus on key metrics like trading volume, moving averages, and Bollinger Bands. Platforms with user-friendly interfaces and interactive charts like StocksToTrade are excellent for both new and experienced traders.
How Do You Scan for Swing Trading Stocks?
Scanning for stocks for swing trading involves using specific criteria to filter for candidates with strong momentum, above-average trading volume, and clear chart patterns. Start by setting up a customizable screener to identify stocks that meet your preferred criteria. For example, look for stocks trading near key resistance levels or showing bullish reversal candlestick patterns.
Pay attention to technical indicators such as relative strength index (RSI) to identify oversold conditions or Bollinger Bands to spot price volatility. Use real-time data to refine your scans further, ensuring that the stocks you select align with current market trends. A systematic approach, such as filtering for a daily volume above 1 million shares or a price increase of at least 5%, helps narrow down potential swing trading setups.
Most screeners also allow you to factor in fundamental criteria, such as revenue growth or sector performance. Combining technical and fundamental analysis can provide additional insights, helping you identify stocks with strong momentum and a good financial backbone.
What Is the Best Indicator for Swing Trading?
The best indicators for swing trading vary depending on the trader’s strategy, but commonly used tools include moving averages, RSI, and Bollinger Bands. Moving averages help identify trends and potential entry points, while RSI is useful for spotting overbought or oversold conditions. Bollinger Bands are another powerful tool for swing traders, mapping price volatility and potential reversals.
Swing traders often combine multiple indicators to confirm trading signals. For example, a bullish swing trade setup may involve a stock breaking above its 20-day moving average while RSI moves out of oversold territory. But I like to keep trading simple — I look for solid catalysts and a good chart. I never risk more than I can afford to lose, and cut losses quickly… which leads to my next point:
Indicators should be used alongside a clear trading plan and proper risk management strategies. Just because an indicator says something, it’s no guarantee. Always look for confirmation, and be ready to exit when a trade isn’t going your way.
What Is the Most Successful Stock Screener?
The most successful stock screener is one that aligns with your trading strategy and offers customizable features to meet your specific needs. For swing traders, StocksToTrade stands out due to its advanced screening options, integration with real-time alerts, and seamless charting tools. Its ability to combine technical and fundamental analysis makes it a valuable resource for identifying profitable trades.
Another popular choice is Finviz, known for its user-friendly interface and ability to filter stocks based on a wide range of criteria, including market capitalization, trading volume, and price performance. Finviz’s heatmaps and financial visualizations provide additional insights into market trends, helping traders make informed decisions.
Ultimately, the success of a stock screener depends on how effectively you use it. Screeners are tools, not guarantees, and they should be used alongside a well-thought-out trading plan. By focusing on systematic screening criteria and using actionable trade signals, swing traders can significantly improve their trading outcomes.
