Successful day traders rely on a number of essential tools for effectively employing their trading strategies. One of these essential tools is an accurate and detailed stock screener that allows day traders to identify potential trades by sorting stocks based on selected criteria.

Fortunately there are a number of free stock screeners that are nearly as good as any paid version, and more than adequate for use by the average day trader.

Let’s briefly examine the top 4 free stock screeners to find out which one is right for you.

StockFetcher

StockFetcher is an ideal free stock screener for day traders who like to narrow their list of potential trades down to a small number of stocks.

StockFetcher has one of the most extensive lists of parameters out of all the available stock screeners, which is perfect for day traders who know precisely what they are looking for in a potential trade. It is one of the only free programs that allows you to code your parameters allowing for much more detailed searches.

The free version of StockFetcher displays only 5 stocks at one time, but this is more than adequate for the focused day trader.

Finviz

Finviz is known for its ease-of-use and intuitive interface. This free stock screener has an extensive list of parameters that are sorted according to clearly-defined sub tables, which is helpful for day traders who do not have a small set of preferred parameters.

You can then further refine your list of stocks by adjusting parameters, and you can analyze your selections according to 14 different sets of information (valuation, technical, etc).

The free stock screener version of Finviz offers delayed data, which is fine for day traders who are simply sorting out their potential trading targets for the day before moving on to real-time data on their preferred broker’s platform.

ChartMill

ChartMill offers the standard features of a first-tier stock screener, with a wide variety of parameters available and a special focus on technical indicators.

However, ChartMill stands out from its competitors by offering a number of proprietary parameters that lead directly to strong trade suggestions, which is ideal for beginner day traders who have yet to develop their own trading strategies.

ChartMill’s free stock screener version works on a credit system, with a set number of free credits available for use each month. Every time you use ChartMill, you spend some of your free credits. The number of credits should be more than enough for most day trading strategies, but you can also buy more credits when needed.

StockRover

StockRover is the perfect free stock screener for day traders who like to use complex analytics to identify potential trades. StockRover’s extensive and detailed list of parameters can be combined into complex formulas that go far beyond simple sorting.

Many users also appreciate StockRover’s unique parameters, such as stocks that certain institutional investors, like hedge funds, are buying or selling.

Those day traders with advanced and complex trading strategies tend to prefer StockRover as their choice of stock screener because it can support their deep analytical needs far better than the other top free stock screeners.