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.

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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

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.

Key Takeaway: Screener helped spot the setup, but the trade worked because of chart confirmation, trend alignment and risk control.

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.