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by Finage at June 22, 2023 5 MIN READ
Making good returns relies heavily on the rule of investment you make. Therefore, before investing in a stock, you need to know whether it will be profitable or not. With so many companies offering stocks, it can be difficult to pick the right one. You need an effective way of filtering through the many options to find something that aligns with your goals. That's where a stock screener API comes in.
The Screener API is a powerful tool that helps you filter out tickers with the given parameters, see historical data and real-time indices of companies, and find the perfect stocks for your specific trading strategy. By using this tool, it becomes easier to select the right stocks.
- So how does a screener work?
- Provided benefits
- Providing the best stock indices
- Improving decisions
- Broadening opportunities
- How to find the solution that will solve your pain points
- Secure solution and its variables
- Final thoughts
With select criteria, the screener provides the best companies to invest in. There are many stock screeners out there with some being free of charge. However, some require user subscription fees as they offer advanced features.
Traders have to create criteria that a screener should use. It then filters through various opportunities in an exchange market. Having a wider criterion improves results. It is a great way of ensuring you get the best opportunities. Once the screener picks up something that aligns with your criteria, it will notify you immediately.
The criteria used vary for different investors. For instance, traders may use a fundamental technical analysis. This includes various indicators such as:
- Relative Strength Index
- Moving Average
- Average Directional Index
Additionally, access to company screeners through stock APIs can greatly enhance your trading strategy. For example, automating your trading strategy is essential for staying competitive in today's fast-paced financial markets. Stock APIs provide you with the data and tools needed to filter and screen companies based on specific criteria, helping you make informed decisions.
Using a screener API has many benefits for investors. Not only will it save you time but provide the best options to put your money into. To get started with the powerful solutions, you may explore the Finage Docs as this comprehensive documentation contains all the information you need to understand and integrate market data feeds using Finage's APIs and Websockets.
The guides and examples provided in the documentation will assist you in making the full potential of company screeners and stock data. Here are also some reasons why you should use such solutions:
A screener provides you with the best options to invest in. It creates a list of companies based on the specific features you select. Using this tool allows traders to analyze a lot of companies in a shorter time. Through automation, you can get rid of the tedious task of gathering both historical and current data.
Making the right investment is all about the information you have. While you can do this alone, it will take days to find the right information. A screener API can provide you with updated data. So it becomes easier to make decisions at all times.
As the data is updated, it puts you in a better position to buy stocks that will be profitable. It also eliminates human emotions when making trading decisions. You can simply make an investment based on select criteria without being influenced by emotions.
Some screeners can capture information that will be useful later on. Another great feature of this tool is that it shows all stocks, regardless of which are popular. Because of this, it becomes easier to find new opportunities that you might have missed earlier.
The stock screener API you decide to use will depend on the security. An example of a free screeners you can use is Yahoo Finance. You can also find additional services with a fee. They use technical analysis to find the best opportunities for traders. The basic screeners have preset criteria that you can select from. Paid versions offer updated information offering the latest opportunities that are available on the market and quick reliable results. It is also a secure solution.
Aside from these screeners, you can use customized versions. These are good because you will keep getting updates as the prices of stocks continue to fluctuate. For instance, if you search for a stock on any market, it will provide information for a specific period. However, you know that stock prices change quickly. When this happens other screeners won't pick it up.
For example, with Finage's stock API, you can access both US and global stock data in real-time streaming and historical formats. Having all this data in one place empowers you to build charts, apps, and platforms that can give you a competitive edge in the trading niche. So using such resources can transform your strategy and certainly improve your overall performance in the market.
Before selecting a screener, make sure it uses a criterion you are looking for. A stock screener also performs a quantitative analysis. This includes variables such as:
- Profit margin
- Performance ratio
Keep in mind that the criteria you pick make the most difference. Even with the most versatile screeners, not knowing what to look out for will not lead to good results. Therefore, you can start with a screener that has predefined criteria.
Having access to the right tools makes a huge difference in trading. A screener API provides you with an effective way of filtering through many stocks to find something that matches your strategy. There are several options to pick from. Remember that having detailed criteria makes a big difference. It will provide you with the best securities to invest in.
Improve decision-making by having access to both historical trends and current data. With a screener, you will identify more opportunities than before. This provides a great chance to build on profits and get good returns on investments. At the end of the day, a screener API is an indispensable tool that every investor needs to improve returns.
You can get your Real-Time and Historical Stocks Data with Finage Stock Data API key.
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