In the process of finding the perfect stocks based on your conditions it is very important for traders to use screeners for filtering out the best stocks and make informed decisions to maximize the profit potential.
Today, we are going to introduce you to Chartink and how to use chartink screeners for intraday trading. If you will properly understand this concept of using Chartink then it will be very easy and useful for you to create your daily watchlist and find out the stocks which otherwise would be very difficult to find manually.
What is Chartink? & How to use it for Intraday?
Chartink is a comprehensive technical analysis platform which empowers traders with superpower that allows them to get insights they need to make informed choices in the stock market investing and trading.
Register an Account
To begin your techincal analysis with Chartink, visit their official website from the link given and create a free account.
Creating a free account will grant you access to basic features and functionalities like creating custom screeners and backtesting.
Navigating the Dashboard
Once logged in, you’ll be greeted by an intuitive dashboard. Familiarize yourself with the layout, as it provides easy access to various tools and resources.
Chartink Features For Intraday
Some of the important features of Chartink are listed below that will help you in your intraday trading, try to use them practically and you will understand everything about these features:
1. Create Custom Watchlists
Stay organized by creating watchlists of stocks you’re interested in. Chartink allows you to monitor price movements and changes in real time.
2. Utilizing Chart Patterns
Identifying chart patterns is crucial for intraday traders. Chartink’s pattern recognition tools help you spot trends and potential reversals.
3. Applying Technical Indicators
Enhance your trading decisions with technical indicators such as moving averages, RSI, and MACD. These tools provide insights into market trends and momentum.
4. Setting Up Price Alerts
Never miss an opportunity. Set up price alerts for specific stocks, and Chartink will notify you when your defined price levels are reached.
5. Fundamental Screening
Evaluate stocks based on fundamental metrics like earnings, revenue, and P/E ratio. This can help you identify fundamentally strong companies.
6. Technical Screening
Narrow down your choices using technical criteria. Chartink enables you to screen stocks based on indicators and patterns.
7. Backtesting Strategies
Backtest your trading strategies using historical data to assess their viability and potential profitability.
Chartink Pro Features
Apart from free version, they also have a Pro Version which offers advanced tools that provide cool features like:
Real-time Data Access
Upgrade to Chartink Pro for real-time data feeds, enabling you to make split-second decisions.
Advanced Charting Tools
Access advanced charting features for in-depth technical analysis.
Create Manual Screener
The biggest advantage of using Chartink is that you can create manual screeners based on various set of instructions and commands. You can learn in detail about how to create scanner in chartink in the video given below:
Conclusion
Till now you should have understood how this Chartink is useful for intraday traders, providing a comprehensive set of tools to enhance your decision-making process and overall trading performance.
I hope you like this post, If you have anything to say about this post, you can feel free to write your opinion and suggestions in the comments box below.
Absolutely, Chartink offers user-friendly features and educational resources for traders at all levels.
Yes, by upgrading to Chartink Pro, you gain access to real-time market data.
While Chartink provides powerful tools, profitability also depends on your trading strategies and market conditions.
