Intraday trading, as the name suggests, involves buying & selling of stocks within the same trading day, no overnight holding. Unlike long term investing or delivery based trading, where stocks are held for days to years based on fundamentals, intraday is all about timing and momentum. In intraday trading, you’re not investing in the company’s future, you’re trading the momentum.
In intraday, every minute counts. Not all stocks qualify for day trading, you need ones with high liquidity, strong volume and clean price movements. That’s where intraday screeners help. They scan the market in real time, filter out noise, identify patterns and highlight stocks showing movement, so you can act fast and stay ahead.
In this blog, we’ll break down how screeners work, types of screeners, why screener is important while choosing the right stocks for intraday trading..
Intraday screener is a tool which helps traders spot trade opportunities within the same trading day. Instead of manually scanning hundreds of stocks, it scans the market based on filters like rising volume, price breakouts or strong momentum. By tracking live price movements and cutting out noise, it highlights only the most relevant stocks, saving time and improving decision making.
For example, if you are looking for day trading stocks with volume spikes or breakouts, just set those filters and the screener instantly shows only the most relevant ones.
Screeners are broadly divided into two categories based on how frequently they update data. Let’s break down the difference between real time screeners and EOD screeners:
| Criteria | Real Time Screeners | EOD Screeners |
|---|---|---|
| Data Frequency | Updated live, minute-by-minute or second by second | Updated once after the market closes |
| Use Case | Intraday and short term trading | Swing trading or long term analysis |
| Speed Needed | High, meant for quick decisions | Low, used for post market research |
| Platform Examples | TradingView (Live Screener), Chartink (Real time filters) | Screener.in, Moneycontrol |
While these terms are used interchangeably, they serve slightly different purposes:
| Criteria | Screener | Scanner |
|---|---|---|
| Function | Filters stocks based on static criteria | Continuously monitors market for live signals |
| Example | Show stocks with volume > 1M and RSI < 30 | Alert when any stock breaks day’s high |
| Frequency | Manual or scheduled scans | Continuous scanning throughout the session |
| Use Case | Initial stock selection | Immediate trade alerts |
In intraday trading, timing is everything. Intraday screeners are tools that scan day trading stocks in real time based on your chosen criteria, such as volume surges, price breakouts or technical signals.
These can help you identify real time opportunities, the moment the move begins. By filtering out the noise and showing only the most relevant opportunities, screeners let you trade with accuracy rather than guesswork.
This not only saves your time but also improves your decision making accuracy, keeping your trades aligned with your strategy & boosting your confidence under pressure.
To trade effectively you can use technical filters to narrow down focus and spot high probability stocks in real time.
Here are parameters to look for in an intraday screener:
| Parameter | What It Indicates |
|---|---|
| Volume Breakout | A sudden spike in trading volume indicates strong buying or selling interest, often occurring before a major price move, either a breakout or a reversal. |
| Price Momentum / % Change | Helps identify day trading stocks that are moving sharply up or down within a short time. These are the most active stocks, perfect for quick intraday trades. |
| VWAP Crossover | Price crossing above or below VWAP signals a trend shift, which is useful for entry or exit. |
| RSI, MACD, Supertrend | Technical indicators that help confirm trend direction and overbought/oversold conditions. |
| Gap Up / Gap Down | Stocks that open much higher (gap up) or lower (gap down) than the previous day’s close attract trader attention and can lead to intraday movements. |
| Open = High / Low | If a stock opens and starts falling (open = high), it suggests bearish sentiment. If it opens and rises (open = low), it’s a bullish sign, both useful |
| Sector Rotation / Trending Sectors | Focus on momentum driven sectors (like banking, IT, pharma) as their stocks can show stronger intraday movement and volume. |
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Whether you're a beginner or a pro, the right intraday screener matters. Free tools work well for beginners, whereas paid ones offer pro-level features.
Here’s a breakdown of free and paid intraday screeners:
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Intraday screeners simplify stock selection by highlighting real time opportunities based on volume, price action or technical signals. They cut through market noise, helping you trade with accuracy instead of guesswork. While they don’t guarantee profits, they can improve your speed and decision making. Whether you're a beginner or experienced trader, using the right screener with a well defined strategy can help you stay ahead in fast moving markets. Remember, in intraday trading, timing is everything and screeners help you make every second count.
Risk Disclaimer: Trading in securities involves risk; screeners are tools and do not assure profits. The blog lists tools (e.g., TradingView, Bloomberg) but does not endorse them.
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.
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