The site has an excellent free stock screener and lots of other free features but here’s a quick tip that I started using only recently to scan for trade setups. (It’s really just a way to view the charts better so you can see the candlestick formations).
Quick Tip For Identifying Possible Trade Setups In Finviz
The first step is to click into the screener itself using the menu button and then expand the filters to ‘All’ so that you have the full range of filters available.
Next, click on charts and then where it says chart type, select ‘candle‘.
When you do so, the charts become a lot cleaner and clearer in my opinion, allowing you to more easily gauge the recent price action and spot any interesting patterns.
The next thing I do is to move up to the RSI(14) filter and select Oversold(40) or Oversold(30). I then set the Average Volume to Over 1M.
Sometimes I will also change Exchange to NYSE.
These settings bring the list of stocks right down to a much smaller selection.
You can then scroll through the charts and look for any interesting candlestick patterns or price action setups.
Doing a very quick scan over the potential setups today I can see two potential trade ideas. There is a bearish tweezer type pattern on the Kroger Co. (KR) which indicates potential for a downward move over the next 1-10 days.
I also see a potential long set up on H&R Block (HRB) which looks to be forming a short-term bottom with recent price action finishing off of the session lows.