Free Finviz screener filters for finding the best stocks

Analyzing each company in the market is extremely difficult. A stock screener helps you narrow down the thousands of companies into several that fit your strategy. Yet, more research has to be done on the companies that pass a screen before any investing decision can be made. What you filter is highly dependent on the type of trading or investing you want to do. Here’s a list of Finviz stock screener criteria that can be used in the free version.

Keep things simple

Firstly, it’s better to keep things simple and not select for every metric that is offered by the screener. The quality of the filters is much more important than their quantity. In general, the screener includes metrics that fall into three categories: fundamental, valuation, and technical.

Technical screens won’t provide too much help for our long-term strategy of investing into value stocks. You might find more valuable to set them up when looking into day-trading.

Video walkthrough of screener settings

Watch the video below to learn how to find good dividend stocks with the free version of the Finviz screener. It mentions a number of useful tricks and explanations. Alternatively, read on for a list of the screener presets investors use the most.

Essential Finviz screener settings

The most common metrics investors screen for

Example of Finviz stock screener criteria to filter for well-performing stocks.
An example screener setting using the free stock screener at Finviz.

Market Capitalization

Specifying the minimum market cap is useful for filtering out the small companies that are too unpredictable and staying away from giant firms that are too large to keep up a rapid pace.

Price

It is good to eliminate any stocks that trade under $10 as they tend to be too volatile.

Volume

Volume is less significant than in case of higher frequency traders, but you still want to avoid a stock that barely trades. Look for stocks that trade with adequate trading volume to ensure that you can buy and sell easily. Your volume filter should exclude stocks that trade fewer than 300,000 shares per day.

Past performance

Set your screening criteria to show you stocks that rose 5% or more during the previous month. This will eliminate stocks that are losing value. You can also set performance criteria for different time periods but always account for the current market and industry you wish to target.

P/E Ratio

Price-to-earnings ratio is one of the most important ratios. It looks at the price of the shares to earnings. However, it is crucial to compare PE ratios between companies in the same industry since different industries have different appetites for risk and their PE ratios can differ significantly. Generally, the lower the PE ratio for an industry, the better. Ideally, investors are looking for single-digit PE ratios.

PEG Ratio

Many investors prefer the price to earnings to growth ratio as it accounts for growth and is a better indicator of the future. However, be cautious when discounting an investment based on PEG as the future earnings growth rate cannot be predicted exactly. Similarly to PE ratios, the lower the PEG ratio is, the better.

Bonus preset

Return on equity

A high return on equity signals the presence of a competitive advantage in a company. A competitive advantage helps a company to withstand competition and bring higher profits over the long-term. Look for return on equity higher than 15%.

Example stock screener criteria for finding well-performing stocks with a competitive advantage.
An example of free Finviz screener settings for finding stocks with a competitive advantage.

 

Unfortunately, the screener works only on US companies as Finviz India or other markets is not available. I’m still hoping there will be a screener Finviz mobile app.

There are many more fundamental and technical metrics to look at, so feel free to have a go at tweaking the strategy and find what works for you. You can even use the Finviz backtester to test your strategy.
Always make sure to check the Finviz charts and news to see how the stocks in your results are doing.

Happy investing!

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