There are over 1900 listed companies on the National Stock Exchange (NSE) and more than 5000 on the Bombay Stock Exchange (BSE). Daily, these scrips present the traders with numerous money-making opportunities, but the hard part is to identify the right scrip at the right time. This is not as easy as it sounds as it is humanly not possible for anyone to manually go thorough each and every scrip, identify the best of the lot and then successfully execute the trade. To make lives simpler, traders use technical stock screeners which help them reduce their labour substantially by conducting auto scans and presenting the traders with the list of stocks that fulfil the mentioned criteria. The introduction of technical stock screeners has also assisted the traders in bringing down the time required to make a trading decision, thereby enabling them to react quickly to profitable opportunities.
The modern day technical analysis softwares offer a large number of screeners to their traders, ranging from intraday screeners to long term investment screeners and spot market screeners to F&O screeners. These technical stock screeners have come so far that they also allow the traders to decide their own parameters and run the scans accordingly. Today, the ability of a technical stock screener is only limited by the ability of its user. They offer multi-timeframe, multi segment, multi-criterion screeners that can help a trader capture any trading opportunity that is mathematically possible.
The technical stock screeners serve a major cause of narrowing down the options for a trader and only present him with the results that comply with his pre-defined parameters. This flexibility helps the traders to conduct custom scanning, at the same time maintaining their unique trading style. Depending upon their trading style, whether an intraday trader, long term investor, scalper or a swing trader, one can decide the indicators that suit him/her the best and also prefix a target and stop-loss level. These open-ended technical stock screeners offer yet another advantage to their trader of allowing them to modify the criteria of the screeners as per their knowledge and this experimentation in return helps the traders in coming up with a trading strategy that matches his trading personality.
Trader-Guide is one such software that offers the both basic and highly advances technical stock screeners. Every trader should look into their web-based technical analysis software @ www.traderguide.in to get the ideal results.