How to Use Intraday Screeners to Pick Potential Stocks - Step-by-Step Guide
Intraday trading isn’t just about speed but it’s about choosing the right stocks at the right time. With thousands of options on your screen, intraday screeners help filter high-potential trades quickly. This step-by-step guide will show you how to use intraday screeners effectively, whether you're a momentum trader, news based trader or prefer technical setups.
How to Select Stocks Using Intraday Screeners – Step by Step
Intraday trading demands speed and accuracy, but it starts with picking the right stock. Below is the step by step process to use screeners while choosing day trading stocks.
Define Your Trading Strategy
Before opening a screener, ask: What’s my style?
- Momentum trader: You look for breakouts and volume spikes.
- Reversal trader: You target oversold (RSI < 30) or overbought (RSI > 70) zones or
- News based trader: You act on market moving headlines.
Choose Right Screener
Pick a screener suited to your market and strategy
- For Indian stocks: Chartink, Trendlyne, Moneycontrol or Screener.in
- For global or technical setups: TradingView, TrendSpider and Finviz
Apply Relevant Filters
Match your filters to your strategy. Some examples
- % Price Change: to catch sudden upward/downward moves
- Volume Breakout: to spot increased market activity
- VWAP Crossover: to track intraday trend shifts
- RSI / MACD / Supertrend: for momentum or trend confirmation
- Open = High / Low: useful for spotting early bullish/bearish setups
- Gap up / Gap down: good for news based or pre-market moves
Analyse Shortlisted Stocks
Once you get stock suggestions, pause and check
- Is this stock liquid enough?
- Is the stock moving smoothly or is it irregular?
- Any news events today?
Check Technical Charts for Confirmation
Before you jump in, check.
- Trend direction (uptrend/downtrend)
- Breakouts from range or key levels
- Indicator confirmation (MACD, RSI, etc.)
Set Risk Reward and Position Size
Never enter blind.
- Entry, Stoploss and Target
- Follow 1:2 risk-reward
- Adjust position size based on capital and risk tolerance
Execute the Trade & Monitor It Live: Trade using your preferred platform (e.g., RESACH by Monarch)
- Stick to your stop loss and target
- Avoid over trading or changing the plan mid way
- Use a trailing stop loss if the trade is moving in your favor
Take the guesswork out of trading. Use ReSach screeners and trade with confidence.
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Pro Tips for Filtering High Potential Stocks
Even with great screeners, not every stock is worth trading. Here’s how to filter smarter:
- Focus on Top 200 Liquid Stocks
Focus on Nifty 50, 100 or 200 stocks — they’re easy to enter and exit, have tight spreads i.e. the difference between buy and sell prices is low, and cleaner charts. Avoid low-volume stocks that can trap you with sudden moves. - Avoid Stocks Near Major News or Events
If a stock is in the spotlight due to results, mergers or regulatory news, it can behave unpredictably. Unless you’re a pro at news-based trading, skip them because they’re too volatile and risky for intraday. - Prefer High Beta Stocks
High beta = more movement.
Example: If the index rises 1%, a high beta stock might rise 2-3%. It is good for quick trades so use proper stop-losses. - Cross Verify Screener Signals with Price Action
Don’t blindly follow screener results. Always check the chart to confirm the setup. A breakout on a screener should also show strong candles, good volume, and support from trendlines. - Trade with the Trend
Avoid guessing tops and bottoms. Following the overall trend can increase your probability of success.
Common Mistakes Traders Make with Screeners
Many traders, especially beginners misuse the screener, so here are some of the most common mistakes to watch out for:
- Relying Solely on Screener Without Chart Analysis
A screener may flag a breakout, but without checking trend, support/resistance, volume, and candlestick structure, you risk entering false signals. - Over Optimizing Filters
Too many filters often backfire so you either get a few results or miss out on good trades. A screener should be simple, focused and in sync with your trading strategy. - Ignoring Risk Management
Even a good screener pick can fail without stop losses, proper position sizing or emotional control. So manage your risk first. - Blindly Following Public Screeners
Just because it works for others doesn’t mean it suits your style. Use public screeners for ideas, but always adapt them to suit your own strategy and risk appetite. - Using Same Filters for All Market Conditions
One screener won’t work in all market types. Adapt filters to match whether the market is trending, flat or volatile.
Recommended Intraday Screeners (India + Global)
With so many tools out there, here are some useful screeners for intraday traders in India and globally.
TradingView (Global + India)
One of the most popular platforms worldwide, TradingView offers traders flexibility and powerful charting with features like:
- Real time intraday screeners
- Customisable technical filters and watchlists
- Ability to write and run custom scripts using Pine Script
- Clean, interactive charts with multi timeframe analysis
Chartink (India Specific)
Chartink is a popular choice for Indian traders, especially those trading Nifty, Bank Nifty and stocks with technical setups. It offers:
- Custom filters using indicators
- Real time market screening
- Alerts for your trade conditions
- Easy to use intraday scanner builder
Trendlyne (India Specific)
Trendlyne is a stock analytics platform tailored for both Indian & US investors and traders. It’s known for:
- Advanced stock screeners based on fundamentals, technicals, and broker ratings
- DVM scores (Durability, Valuation, Momentum) to assess stock strength
- Real-time alerts and watchlists
- FIIs/DIIs activity, bulk & block deals tracking
- Portfolio insights with SWOT and risk analysis tools
TrendSpider (Global Markets)
A platform for US and global markets, ideal for advanced traders looking to automate analysis and cut down manual charting. TrendSpider offers:
- Automatically drawn support, resistance levels, trendlines and zones based on price action.
- You can test your ideas over past data without coding.
- A unique chart type called Raindrop Charts visualises volume flow within candles, helping identify breakout strength.
- Offer live data for US stocks, crypto and forex, with custom alerts.
Finviz (US Market Focused)
Finviz is a fast and efficient screener focused on US and global markets. It provides:
- Real time stock prices, charts and updates.
- Advanced intraday charting with technical indicators and drawing tools.
- Backtesting of strategies on historical data
- Custom alerts for price moves, news or analyst changes
| Screener | Market | Free/Paid | Best For |
|---|---|---|---|
| TradingView | Global/India | Free/Paid | Custom scripts, multi-timeframes |
| Chartink | India | Free/Paid | Breakouts, technical scans, intraday scanner builder |
| TrendSpider | Global | Paid | Live data for US stocks, crypto and forex |
| Finviz | Global | Free/Paid | Fast and efficient screener, Advanced intraday charting, backtesting |
Case Study: A Winning Intraday Trade Using a Screener
- Let’s break down a recent intraday trade using a screener from alert to execution.
- Stock: xyz;
Date: June 18, 2025;
Strategy: VWAP breakdown + volume confirmation; - Timeframe: 15-min chart
- Screener Filters Used: At 10:00 am, xyz appeared on the screener as it dipped below VWAP with rising selling volume and by 10:20 AM, it was trading around ₹676.
- Chart Confirmation: A bearish candle closed below VWAP with no reversal signs, confirming the downtrend.
Trade Execution
Entry: ₹675 (after VWAP breakdown)
Stop Loss: ₹680 ( day high)
Target: ₹670 (recent swing low)
Outcome: Target hit by around 2:00 PM
Risk:Reward: 1:1
Key Takeaway: Screener helped spot the setup, but the trade worked because of chart confirmation, trend alignment and risk control.
Conclusion
Screeners make life easier by helping you spot good trades faster, but they’re not a shortcut to success. What really matters is how you use them, alongside charts, a clear plan and proper risk control. If you stay disciplined and tweak your filters as per market conditions, screeners can become a solid part of your intraday trading routine.
FAQs
- What is an intraday screener?
A tool that helps filter and shortlist stocks for intraday trading based on live data and technical indicators. - Are screeners enough for intraday trading?
No, always combine screener results with chart analysis and a proper trading plan. - Which is the best screener for Indian markets?
Chartink, Trendlyne and TradingView can be good options for Indian stocks. - Can I use the same screener daily?
Only if market conditions stay the same. Adjust filters based on trend, volatility or news. - How do I avoid false signals?
Cross check every screener result with price action, volume and trend direction before trading.
Disclaimer: This blog is for educational purposes only and does not constitute investment advice, an offer to buy/sell securities, or a recommendation. Past performance is not indicative of future results. Investors should consult a SEBI-registered advisor before making decisions. Mention of third-party entities is for illustration only and not an endorsement. Readers are advised to consult their financial advisors or conduct independent research before making any investment decisions. Past performance is not indicative of future results. MNCL is a SEBI-registered intermediary (SEBI Registration No: INZ000008037). For further details, visit www.sebi.gov.in.
