Stock Screeners are specialized software which are developed for sorting stocks based on a pre-set criteria or conditions. When you are on the hunt for a stock screener in the market there are a whole load of options. These screeners may be paid or free. There are numerous screeners which can be used for sorting stocks on Bursa Malaysia, the Bursa Saham of Malaysia.
Sorting stocks using stock screeners is a very common practice used by investors for carrying out effective trades in the market. Today we will take a look at some of the commonly used stock screeners, which may help you in effectively sorting stocks for trading. Also, we will discuss about the basic checklist which you should follow before selecting any stock screener.
Checklist for selecting a stock screener
Features – A stock screener should be feature rich. There are numerous charts and data like volume spread analysis which are very important for an investor before sorting stocks. The screener should have all the market charts and data handy for the investor. Also, the screener should be really fast. For example, you plan to invest in penny stocks. Delay of a few minutes can adversely affect your trade. Therefore, it is important for the screener to rapidly update the charts to provide effective market information to the investor.
User Interface – The stock screener should be easy to use and navigate. It is better to avoid complicated tools in the market. Dedicated shortcut keys, easy to read information are all examples of a better user interface.
Ease of Use – A screener with great user interface will be easier to use. You need to set various criteria for sorting out stocks. The screener should be designed in such a way that it should be easy to use by beginners as well as experts.
Commonly used Stock Screeners
Let us now discuss about some of the commonly used stock screeners by investors for sorting stocks on Bursa Malaysia.
Trading View – Trading view is designed by keeping day trading in mind. It allows you to view time frames between one and 15 minutes for stock exchanges. The basic model of trading view is free to use. However, the user can opt for the paid model to use a variety of premium features available.
Google Finance – Google probably has a product in every domain. For stock markets Google Finance is an offering from Alphabet Inc., which offers a clean and elegant stock screening platform. The user interface of Google Finance is probably the best amongst the competition.
KLSE Screener – Another commonly used stock screener by Bursa traders is KLSE screeners. It is absolutely free for all Bursa stocks, warrants and loans and provides fundamental indicators including profit loss statements, balance sheets etc.
Stock screeners are very common amongst investors due to the wide variety of preferences they offer for sorting stocks. However, selecting stocks is not easy and requires knowledge and experience. If you are new to the world of stocks, it is better to hire an investment advisor who can help you with sorting stocks. An advisor will sort the stocks based on technical and fundamental analysis and provide you trade recommendations based on the research.
