October 15, 2020

Last video, we talked about the basics of stock screener. In this video, I am going to compare two of my favourite stock screeners, the pros and the cons. I will walk you through the type of filters available and explain what majority of the filters mean. So if you are a beginner to using stock screeners, then watch this video now.

90% correct transcript

So welcome back to my channel. And in this video, we're going to talk about the two free stock screener direct recommend, and that is Finviz and chart mill. So we're going to do a comparison video on what kind of features is available for each of them. So then you can see which one is good for you, and you can decide which one to use for the remaining videos. So this is really a seven part training series for using a stock screener when you are investing. So let's get started. Okay. So welcome back. And before we start, I just want to celebrate another success story within Investing Accelerator where Hung made 45% from LHX 38% from HXL and also 35% from CHEF in less than 10 days. So congratulations home for making a couple of successful exits within the program. I'm very happy for you.

So, like I mentioned earlier, we are doing a hundred likes giveaway. If there are a hundred likes within this video, then I'll be giving away a book. And this time I'll be giving a way harmonic trading volume one. And this is actually, I would say a less popular book or a less well known book on technical analysis. So when you're looking at the markets, there are a lot of different patterns and each pattern can form into another pattern. So over the last 12 years, I have read a lot of books on technical analysis, and this is seriously one of my favorite. So if we get a hundred likes on this video, then I will give this book away to one of the people who commented below, make sure you clicked the like button so we can start. So there are two stock screeners that I said, I really like one is really Finviz and another one is chart mail.

So in the previous video, I actually went through each of the tabs for Finviz and kind of explained to you what each of them are. So then we're going to go a little bit more high level on Finviz this time now for chart mill. This one is also free as well. You do need to register an account, but I'm sure that is not a big problem. You just got to enter email address, then you're good to go now for chart mill, you'll see that this is actually more comprehensive. So you get general, which is very similar to descriptive year. So let me just pull that up descriptive. And then afterwards then if I go back here, then you can see there are other filters like performance which has to change in the stock price. So on and so forth. So this is similar to the technical that Finviz has, which is the 52 high week, low moving averages.

So on and so forth. Now, if I go to chart mill, you actually find there's one additional thing that Chart mill has that Finviz does not, which is the weekly, EMA or SMA. And this is actually a very important feature, especially if you're trying to be a longterm investor, because usually 200 simple moving average, which is what SMA is, is too short on a daily basis. So you really want to use something that is like weekly. And if you scroll down and as at the moment, I'm recording this video for you, the furthest that can go is around 30 weeks. So that is the furthest. you can go in terms of the weekly moving averages using chart mill. Now the next one is really indicator. So that is actually combined here for Finviz into the technical tab, but for chart mill, then it's separated into performance and indicators.

So in this case, you actually see that there are more options available. So this is actually more comprehensive. You get MacD, Shochastic, Bollinger band, and you gotta remember when you're using it all these are actually on a daily basis. So it's actually not on a weekly basis, which you need to take that into account. And they're also candlestick patterns, which we know already. And I think there are actually more candlestick patterns here in chart mill than Finviz. So if you want to be more precise, then chances are you want to use chart mill. There's also some weekly formations as well. So that is actually good because when you are a longterm investor, you actually want to look at the weekly indicator instead of the daily ones. And there's actually something called chart, mill technical rating here, and also celebrating.

Let me just show you that is their own algorithm or own recognition code on the stock itself. So that is not available with Finviz and I guess that is their competitive advantage, but exactly how they do that. I'm not too sure. So I actually don't use it now for technical analysis. They even have support and resistance separated out as a different tab. And here you can see, they have the typical pivots, which is the R1S1] version here, and then they also have horizontal or upper resistance and supports. And then what's more important is actually they have weekly as well. So that's actually quite good. And then you have consolidated support and resistance. Now in terms of fundamental, they actually have pretty much all the similar indicators as it is. So here what's interesting is that you can actually filter using at least, which is kind of dragging the left circle, which is, you know, for example, the price earning is at least this much, or you can actually drag the right circle to be at most, which is the maximum.

So depending on what you're looking for, you know, whether you're looking for a profitable momentum based company versus a discount of stock, you will be using the different dials to find what you're looking for. Okay. And in terms of the results that you get for Finviz when you get the sector, you get the company name and you get some simple ratios, market happy and whatnot. And then if you hover your mouse over the ticker, then you actually get the little charts that is, I believe is daily, but correct me if I'm wrong, actually, I don't think it's daily. I think it's intra day or something. Let me take a look. It is daily. Okay. Correction. So it is daily. And then if you click into it, then you get all the other details like news article, that's all here. You get, you get the technical analysis that's already drawn here.

And then you can kind of change the chart type to from Candle to advance interactive, and then you get a bunch of like KPIs here. So then you can see more, okay. Now for chart mill when you are using it, he actually gets something called ratings. So this is the rating that is calculated by chart mill itself. So you get a rating on setup, get a rating on technical analysis, get a rating on fundamental analysis. So if you don't know how to do these analysis, and you just want to see what they're doing, or just get the output, then that's when you can filter it for, for their rating here, like chart mill, fundamental analysis rating. And then you get a little bit more data here. And if you click into it, then you get out of tabs. So you get the profile, which you get discharged, and that's fairly similar to Finviz.

And then you get some description, some news, some tweets, and then you get stock charts. So this is the more detailed version. So then you can see that this is actually less interactive than diversion. You get in vintages where you can go to interactive here. And obviously you got to pay but yeah, the Chart mill version, you don't get to change anything. There might be the paid version, which allow you to change it. But I wouldn't know. In terms of technical analysis, they have this analysis kind of dashboard where it shows you what to look out for personally. I don't use it because if you go through the free chart course below, then you can already do your own technical analysis. And you'll know that I recommend a different platform to do your charting because it's much easier and you have much greater control over what indicators you're using.

So usually once you finish using a stock screener, you would just jump straight to the charts and you wouldn't worry about what's available here. But if you do want to use this because you enjoy that analysis, that's already completed for you and why they scored as 10 out of 10, then feel free to read it, of course. And in terms of fundamental analysis, they don't have the traditional balance sheet and income statement available right off the bat. Instead, they kind of break it down by sections like profitability, evaluation, growth, so on and so forth. And it's not like you can see the financial statements. And coming from a CPA background, I would really enjoy seeing the financial statements of the company, but that's because I know exactly what I'm looking for now. Of course, there's also an analyst ratings, which sometimes it's available. Sometimes it's not earnings estimates, ownership in terms of who is owning the stock, whether someone is selling or not and news.

So they try to be a one stop shop, but obviously not all platforms are perfect. And you just got to evaluate the pros and cons in terms of each of them. So for the next couple of videos, I'm probably going to use chart mill to walk you through the remaining analysis, because it gives me more option. And I also think you'll benefit more from it as well. So my name is Eric Seto and I've been investing for over 10 years. And I tried a lot of things that didn't work. And I also tried a lot of things that did work. And right now my mission is really to help people without a financial background, to target 30% a year from the markets using an hour a week through a coaching program called Investing Accelerator. So if you want to learn more, I have left the link to the free case study, how to get 30% from the markets below and also left the link to my charting templates, which is called a free chart course to the length of the loan as well.

So if you want to get that right now, if you can just go to the comments section and just click on the link and you just register now in terms of the giveaway this time we're giving away harmonic trading one, and if we reach a hundred likes for this video, then I'll be selecting a person within the comment section for it. Okay. So make sure you like this video and click on that subscribe button as well. In terms of the free case study. Once you go to my website, then you can actually put your name and email address and you can click watch now, and this will bring you to the webinar that is approximately three hours long. So make sure you grab a notebook, grab a coffee. And we're going to dive deep into how I made more than 30% per year in the markets. So in terms of the next video, we're going to walk through how to use a stock screener and why you should use it when you should use it. And how does that fit with your investing approach and what kind of criteria you should be using and so on. Okay. So I'll see you in the next video. So thank you for watching and I hope you enjoyed the video. Please help support me by like subscribe and you can watch the next recommended video here as well. So I'll see you next week.

About the author 

Eric Seto

Eric Seto is an investor with over 10 years of experience. He travelled around the world to help with auditing, accounting, purchase and sale of companies.

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