Finviz Free Stock Screener: Full Setup Guide

Finviz.com is a powerful, free stock screener that can help you identify potential investment opportunities based on your specific criteria. Whether you're looking for value stocks, growth stocks, or something in between, Finviz provides a wealth of filters and data to narrow down the market. This guide will walk you through setting up and using the Finviz free stock screener to find stocks that match your investment strategy.

Forget expensive software or complicated spreadsheets. This tutorial focuses on leveraging the free version of Finviz to its full potential. We’ll cover everything from basic setup to advanced filtering techniques, helping you build your own personalized stock screening process. Let's dive in!

Navigating to the Finviz Screener

First things first, let's get to the right place.

  1. Open your web browser: Any browser will do (Chrome, Firefox, Safari, etc.).
  2. Go to Finviz.com: Type "finviz.com" into the address bar and hit enter.
  3. Click on "Screener": Look for the "Screener" tab in the navigation bar at the top of the page and click it. This will take you directly to the Finviz stock screener interface.

Understanding the Finviz Screener Interface

The Finviz screener interface is divided into several key areas:

  • Descriptive Tab: This section lets you filter stocks based on fundamental and descriptive criteria like market cap, sector, industry, and country.
  • Fundamental Tab: Here, you can filter by various financial ratios and metrics such as P/E ratio, EPS growth, dividend yield, and debt-to-equity ratio.
  • Technical Tab: This tab focuses on technical indicators like moving averages, RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence), and volume.
  • All Tab: This tab combines all the filters from the Descriptive, Fundamental, and Technical tabs into one comprehensive view. This is often the most efficient tab to use.

Take a moment to familiarize yourself with these tabs. Understanding where each filter category resides will save you time in the long run.

Setting Up Your First Stock Screen: A Step-by-Step Guide

Let's create a simple stock screen to illustrate how to use the Finviz screener. We'll look for large-cap stocks with positive earnings growth and a reasonable P/E ratio.

  1. Select the "All" Tab: As mentioned earlier, this tab provides a comprehensive view of all available filters.

  2. Market Cap: Under the "Descriptive" section, find "Market Cap" and select "Large ($10B to $200B)". This will filter for companies with a large market capitalization.

  3. EPS Growth This Year: In the "Fundamental" section, locate "EPS Growth This Year" and select "Positive (>0%)". This ensures we're looking at companies with growing earnings.

  4. P/E Ratio: Still in the "Fundamental" section, find "P/E Ratio" and select "Under 20". This filters for companies with a relatively low price-to-earnings ratio, which could indicate undervaluation.

  5. Review the Results: After applying these filters, the screener will display a list of stocks that meet your criteria. Take a look at the results and see if they align with your expectations.

Refining Your Stock Screen: Advanced Filtering Techniques

The power of Finviz lies in its ability to combine multiple filters to create highly specific screens. Here are some advanced filtering techniques to refine your search:

  • Using Multiple Filters Within a Category: You can select multiple options within a single filter category. For example, under "Market Cap," you could select both "Large ($10B to $200B)" and "Mega (Over $200B)" to broaden your search.

  • Combining Fundamental and Technical Filters: Don't limit yourself to just fundamental or technical analysis. Combine them! For instance, you could add a technical filter like "SMA200 is Above SMA50" (meaning the 50-day simple moving average is trading above the 200-day simple moving average, a bullish signal) to your existing screen.

  • Using the "Signal" Filter: The "Signal" filter in the "Technical" tab offers pre-defined technical patterns and events, such as "Top Gainers," "New Highs," or "Unusual Volume." This can be a quick way to identify stocks with specific technical characteristics.

  • Filtering by Industry: If you have a particular industry you're interested in, use the "Industry" filter in the "Descriptive" tab to narrow your search. This can be helpful if you have expertise in a specific sector.

  • Using the "Country" Filter: If you want to focus on stocks listed in a particular country, use the "Country" filter in the "Descriptive" tab.

Saving and Loading Your Stock Screens

Once you've created a stock screen that you like, you can save it for future use. However, saving screens is a feature only available to registered users. Registration is free.

  1. Register for a Free Account: Click the "Register" button in the top right corner of the Finviz website and follow the instructions.

  2. Save Your Screen: After logging in, click the "Save Screen" button located above the screener results. Give your screen a descriptive name.

  3. Load Your Saved Screen: To load a saved screen, click the "Load Screen" button and select the screen you want to use.

Exporting Data from Finviz

Finviz allows you to export the data from your stock screen to a CSV file, which you can then open in Excel or other spreadsheet programs. This is a valuable feature for further analysis.

  1. Run Your Stock Screen: Ensure your screen is set up with the filters you want.

  2. Click "Export": Locate the "Export" button above the screener results and click it.

  3. Open the CSV File: The file will download to your computer. Open it in your spreadsheet program of choice.

Common Mistakes to Avoid

  • Over-Filtering: Applying too many filters can significantly reduce the number of stocks that meet your criteria, potentially causing you to miss out on good opportunities. Start with a few key filters and gradually add more as needed.

  • Ignoring Fundamental Analysis: While technical indicators can be helpful, don't rely on them exclusively. Always consider the underlying fundamentals of a company before investing.

  • Not Backtesting Your Screens: Before investing based on a stock screen, it's important to backtest it to see how it would have performed in the past. This can help you identify potential weaknesses in your strategy. While Finviz doesn't directly offer backtesting, you can export the data and use other tools for this purpose.

  • Relying Solely on Screeners: A stock screener is a tool to generate ideas, not a replacement for thorough research. Always conduct your own due diligence before making any investment decisions.

Beyond the Basics: Exploring Other Finviz Features

While the stock screener is Finviz's most popular feature, the website offers other valuable resources:

  • News: Stay up-to-date on the latest market news and company-specific announcements.
  • Maps: Visualize market performance with interactive heatmaps.
  • Portfolio: Track your portfolio's performance and analyze your holdings.
  • Groups: Analyze sector and industry performance.

Conclusion: Empowering Your Investment Decisions with Finviz

The Finviz free stock screener is a powerful tool that can significantly enhance your stock selection process. By understanding the interface, mastering filtering techniques, and avoiding common mistakes, you can leverage Finviz to identify potential investment opportunities that align with your specific goals and risk tolerance. Remember that a stock screener is just one tool in your investment arsenal. Always conduct thorough research and due diligence before making any investment decisions. Happy screening!