I was just about to cancel my elite subscription to Finviz.com.
But then I discovered something that changed my mind.
And now, I am using it every day.
In today’s review, I will share with you why Finviz Tool is worth every dollar and then some.
IS FINVIZ ELITE WORTH IT ?
Finviz.com is a financial investment website for long and short term traders.
It provides both fundamental and technical analysis.
In this review, we will be presenting the Elite version with all its different features.
The Elite membership is the premium service of this platform.
You can subscribe to a Monthly Membership for $39.50, refundable anytime you want to cancel.
Should you want to save 37% on the yearly cost, you can switch to the yearly Subscription for a one-time payment of $299.50.
FINVIZ Tool USE CASES
The site is set up in distinct areas with different functionalities.
Let us explore each one of the these to give you an idea on the full potential of the tool.
MAIN HOME & MAPS SECTIONS
This provides a view of the global stock markets with gauges on advancing and declining number and percentage of stocks.
Statistics of new Highs and new low are offered to give traders a straight idea on the overall direction of the market.
A per sector heat map is shown to the right for US and international markets.
The maps can be expanded by clicking on them.
This action will take you to the Maps section where you can toggle from S&P500; stocks view, to World view, full view or just a view of Exchange Traded Funds (ETFs).
A zoom on the top right-hand side enables you to scrutinize your sector of interest.
A drop down-menu offers the flexibility to switch the performance period from daily, weekly, monthly to full year granularity.
The bottom of the home section showcase stocks with recent major new with their live quotes.
Also, a selection of stocks with on-going technical signals is presented.
Added to this are upcoming Earnings Releases, recently searched stocks by the user and most recent Insider activities (buy or sell from companies executive.
Up to the minute new sections is broken down into two columns: Live new to the left and Blog new to the right .
The later can be filtered by time or by source.
I cannot say that I spend a great of time reading new during live trading sessions.
I may from time to time spend a few minutes on an eye-catching article especially if it is related to a company I am considering taking a trade on.
This is my bread and butter.
All traded stocks are available in a table on which filters can be applied.
Below is an example with the filters highlighted in yellow.
The results can be saved into a portfolio, to create alerts to dig into for further technical analysis.
If you are patient enough, I will provide a full tutorial on this section in video later in this article.
Finviz Futures Charts
The takeaway from this section is that the quotes are 20 mins delayed thus making it quite lame for futures traders to make an effective use of.
There are 10 pairs of Forex being provided with a tabular view on percentage change or PIPS change.
Traders can track these on a 5 minutes, hourly, daily, monthly quarterly and yearly intervals.
I counted 14 Crypto currencies available as of today.
As we know this number has been increasing lately so by the time you are reading this publication, that number may well be much higher.
In any case, the performance of these instruments can be tracked in this section on multiple time frames.
Backtesting for Trading Strategies
In this section, you can set up but testing of any strategy you come up with before you start trading it.
As an example, let say you think there is an edge is buying stocks after they fulfill a specific technical indicator, the tool allows you to back test your hypothesis and find out how reliable it is over any period.
Finviz.com has over 15 years of data to run backtests to help you validate profitable strategies.
You can choose up to 15 Indicators to study or combinations of indicators to come up with your proven trading plan.
The feature is only available on the elite membership.
FINVIZ ELITE vs FREE MEMBERSHIP
The Finviz Elite features just stand out from the Finviz free version.
Every serious trader cannot afford to rely on delayed quotes hence to get any benefit from this platform, the paid membership is almost mandatory.
From this comparison table we obtained from the site, that is pretty obvious.
For instance, the intra-day charts are only available in the Finviz elite version.
This is a deal breaker if you are a Day or Swing trader.
HOW I USE IT: VIDEO TUTORIAL
Before we delve into that, I strongly recommend watching the 3 minutes 45 seconds Guided Tour video.
The one thing that sold me into this tool is from its main feature the Screener.
Because only on it I could generate a Top Down Analysis.
What is it and How is it performed ?
Before I do so, allow me to point out something I really love on the Screener page.
Once you get there, you have this to look at the stock from one of these “filters”;
- Technical Indicators
- Charts, Technical Analysis, News and Snapshot
My favorite is the Charts View because no matter the number of stock you have previously selected with the top Filters (different form these), all the charts will display all at once without the slightest delay.
You can then click on any chart of your choice to zoom in, study it, create an alert, save to portfolio or publish on Social Media (right now Facebook and Twitter).
Back to the Top Down analysis, it is a method that consist of looking at stocks from their sector situation (bearish or bullish) and diving down to the best worst or best stocks within that individual sector.
This is done by selecting Group and picking Sector from the Drop down menu.
There are 10 sectors overall in the US market ranging from Basic Material, Conglomerates, Consumer Goods, Financial, Healthcare, Industry Goods, Real Estate, Services, Technology and Utilities.
Depending on your time frame of trade, you then select a performance period (week, month, quarter, half year, year to date or full year).
This will give you an indication on which sectors are weak or strong over that period.
If you are looking for strength, you will then select a sector showing strength which will bring you all the stocks within that sector.
From there, I like to select charts and all of the tickers charts are in front of your eyes in the order of the performance.
If your eyes are trained to read technical charts, you can easily be drawn into patterns or you can apply additional filters like the price, the volume, analysis’s recommendation or whether the stock is shortable or optionable.
Speaking of analysts, there are at the center of my favorite use case of the Screener.
I am sharing it all in this video Tutorial.
The free version is full of Advertisements which can quickly become distracting when you are trying to pick sort out a trade.
I like the fact that the Frequently Asked questions (FAQs ) are goes in depth in explaining the different types of scenarios.
Unfortunately, the Futures quotes are 20 minutes delayed thus making them unusable for futures traders or even those who want to know what is the heartbeat of the market even in after-hours.
The yearly membership is non-refundable.
This means that once you commit to it, you have to see through.
But It comes with a 37% discount so that is not really a big deal.
I will not be thorough if I failed to mention that within the home section of the tool, there is a search button for you to enter a stock of interest.
Upon doing do, you will be able to see the technical and fundamentals of that stock.
Nothing news there, but they have added the stocktwits posts of that stock on that page.
What does this mean ?
In other words, if you are focusing on a given stock, you will have access to almost everything (except the charts) posted by stocktwits users on that symbol.
Not sure how you will feel about this after my warning on stocktwits.com distraction.
Lastly, for security purposes with credit/debit card, Finviz.com only accepts PayPal as a method of Payment.
This is still an issue for some countries across the globe for for the most part, I do not foresee this a major hindrance.
Based on the multitude features that Finviz Elite Membership provides, this App is pretty hard to pass on for any serious trader.
My take is take each trader should have a set objective to pay off the tools necessary for his/her trading with an easy Go-To Strategy.
I am sure you may want to know more about Finviz Elite.
May I suggest you try it out and experience it for yourself.
Here is a Link for that or you can just click below.