ChartMill Review 2024
Disclosure
Disclosure: This page may contain affiliate links. This means we earn a small commission (at no additional cost to you) if you purchase a product through our links.In a nutshell: ChartMill is a stock screen and analysis service designed to provide day traders and swing traders with vital trading data.
The platform allows users to perform stock scans using a variety of technical indicators and provides various analysis tools to identify trends throughout the stock market. It even gives each stock a fundamental rating (in addition to other proprietary ratings).
These features sound great on the surface, but is the platform worth your time & money? Find out in this ChartMill review!
| Service Type | Fees |
|---|---|
| Stock screener | $29.97/month $259.97/year $10.00/10,000 credits |
ChartMill is best for…
Day traders and swing traders who want to keep a close eye on the stock market. Using ChartMill will allow them to track stocks—both individually and by sector—while viewing all relevant market data to see and act upon accordingly.
It’s important to note that ChartMill doesn’t offer real-time data. Instead, it offers 15-minute delayed data. This is true for both free and paid users. This may make the platform more attractive to swing traders, who work across longer time frames.
- Offers various technical indicators
- Unique credit system
- Supports multiple stock exchanges
- No forex or crypto support
- 15-minute data delay
- Lacks trading support
Compare to Other Investment Platforms
 Learn More |
| Fees$29.97/month |
| Learn More |
| $259.97/yearStarts at $84/month |
| Learn More |
| Fees$39 - $119/month |
Table of Contents
ChartMill Video Review
What is ChartMill?
ChartMill is primarily a collection of powerful stock screeners, but it can also be used as a stock analysis tool or even a stock research platform. This makes it an invaluable tool for traders who are trying to create a profitable investment strategy.
Users can view various lists of stocks across multiple exchanges, sorting through them across various time frames and searching by specific fundamental or technical criteria. Like many other popular stock screeners, ChartMill supports watchlists and alerts.
External ChartMill Reviews & Ratings
| Site | Rating | |
| Stock Trader | 5 | |
| Warrior Trading | 4.1 | |
| Day Trade Review | 4 |
Firsthand User Experience with ChartMill
Here are some reviews from traders who have experienced the platform firsthand:
I have compared barcharts with other tools with subscriptions. But ChartMill is the best. The consistency in the filter and its probability of winning stocks is amazing. I recommend anyone to try their free version and decide for themselves, you will not regret.
Thank you ChartMill team to building such an awesome filter tool for traders. 3 cheers.”
Reviewing Chartmill Features
There are five main features of ChartMill: Stock Screener, Stock Charts, Analyzer, Watchlists, and Alerts.
As the name implies, the stock screener allows users to screen through the general market to find individual stocks that—based on the available data—should be potentially profitable. Users can run stock scanners using a wide range of fundamental criteria and technical filters (such as trading volume).
The high level of customization in these filters makes ChartMill perfect for custom technical screening criteria since the filters can be adjusted to produce the exact stocks one’s searching for.
Stock charts allow traders to view chart patterns, which offer a visual representation of a stock’s performance over time. Charts can be viewed using various technical indicators, and traders can add as many as they’d like to a chart. ChartMill even allows traders to view multiple charts side-by-side for streamlined comparisons.
The analyzer allows traders to go more in-depth on individual stocks, moving beyond stock prices and other basic information offered in stock screening. Instead, the analyzer is primarily used to read reports alongside the charts.
These reports—which cover both fundamental and technical data—provide Chartmill ratings and documentation to support the platform’s analysis of the stock.
The watchlist and alert features work in tandem. While the latter allows traders to save stocks they’re following to a dedicated list, the alerts feature sends them a notification when there’s a major update—such as a price shift—about stocks in their watchlist.
Reviewing Pricing & Plans
Unlike many competing services, ChartMill does offer its services for free (to an extent). However, there are some limitations in place that you’ll need to be aware of.
Free
The free version of ChartMill uses a credit-based system. Every month, each user is allotted 6,000 credits which they can use to perform tasks on the site (such as running a scan or adding items to their watchlist).
Although 6,000 credits may seem like a lot, many functions cost hundreds of credits to use, which makes opting for a membership more appealing. Still, the credits don’t expire, so a trader who only needs to perform one or two actions per month may be able to enjoy ChartMill without needing to pay.
Paid
ChartMill allows users to purchase an additional 10,000 credits for $10. However, traders can also switch over to a premium membership, which will give them unlimited use of all the tools on Chartmill. Memberships are available for $29.97 per month, or $259.97 for an entire year’s worth of access.
Check ChartMill website to confirm current pricing and full terms.
Positive Aspects of ChartMill
Comprehensive Technical Analysis Tools
ChartMill offers an extensive array of technical indicators and charting tools, allowing traders to perform detailed technical analysis to identify trading opportunities and trends in the stock market. This feature is essential for traders who base their decisions on technical indicators.
Innovative Credit System
The unique credit system employed by ChartMill provides flexibility, allowing users to pay for only the features they use. This system can be particularly beneficial for occasional traders who do not require constant access to premium features.
Multi-Exchange Support
ChartMill supports a variety of stock exchanges, providing users with a wide range of trading opportunities across different markets. This feature is invaluable for traders looking to explore international stocks and diversify their portfolios.
User-Friendly Interface
The platform’s intuitive design makes it accessible to traders of all experience levels, from beginners to advanced users. ChartMill’s emphasis on user experience ensures that traders can easily navigate the platform and utilize its features effectively.
Customizable Screening Criteria
ChartMill allows users to customize their screening criteria extensively, enabling traders to filter stocks based on specific fundamental or technical parameters. This customization enhances the platform’s utility by catering to individual trader preferences and strategies.
Learn More About ChartMill
Limitations in Market Coverage
ChartMill focuses primarily on stocks, which means traders interested in diversifying into forex or cryptocurrencies might find the platform lacking. This limitation could deter traders looking for a comprehensive tool that covers a broader range of financial markets.
Absence of Crypto Support in ChartMill
ChartMill’s platform, tailored primarily for stock market enthusiasts, notably lacks support for cryptocurrency markets. This omission could be a stumbling block for traders who are increasingly looking to diversify their portfolios with digital currencies, given the burgeoning interest and investment in the crypto space.
The absence of crypto tools and data means that users interested in blending traditional stock trading with cryptocurrency investments must seek supplementary resources, potentially complicating their trading workflow.
Impact on Diverse Trading Strategies
The absence of forex and crypto support may limit the applicability of ChartMill for traders who employ cross-market analysis as part of their trading strategy. This could restrict the platform’s utility to a narrower segment of the trading community, primarily those focused exclusively on stock markets.
Data Timeliness
ChartMill provides market data with a 15-minute delay, which can be a significant disadvantage for day traders who rely on real-time information to make quick, informed decisions. This delay might make the platform more suitable for swing traders or long-term investors.
The delayed data might lead to missed opportunities or less optimal entry and exit points, affecting the overall efficiency and potential profitability of trading strategies that require up-to-the-minute information.
ChartMill Competitors
TradingView
TradingView is widely recognized for its comprehensive charting tools and real-time data, making it a favored choice among traders who require instant market insights. Unlike ChartMill, TradingView offers a broader range of assets, including forex and cryptocurrencies, catering to a more diverse trading audience.
Stock Rover
Stock Rover excels in offering in-depth fundamental analysis and portfolio management features, setting it apart for investors who focus on long-term value and portfolio optimization. Its extensive library of financial metrics and integration with brokerage accounts offers a more holistic view of personal investments compared to ChartMill’s technical-focused approach.
TC2000
TC2000 is known for its powerful software that combines charting, stock screening, and trading directly from charts. Its seamless integration with brokerage services and customizable user interface provide a more fluid trading experience, appealing to traders that prioritize efficiency and customization in their trading workflow.
Is ChartMill Right for You?
This online stock scanner is an excellent option for day and swing traders alike. Although it may be more useful to swing traders (due to the delayed data), day traders can still use ChartMill for advanced charts, watchlists, and stock screening.
The credit-based system offers a great alternative to a free trial, although anyone who is routinely using this platform will surely need to upgrade to a premium plan. That said, the monthly price is fair, and—given the multitude of features that ChartMill offers—we think it’s worth the sticker price.
Interested in learning more about ChartMill? Click here to try it out for yourself!
Frequently Asked Questions
ChartMill is a stock screening and analysis platform designed to provide traders with essential data and insights to inform their trading decisions. It offers a range of technical indicators, analysis tools, and a unique credit system for accessing premium features.
ChartMill is ideal for day traders and swing traders looking for a tool to assist in identifying potential stock investments. Its focus on technical analysis makes it particularly useful for those who rely on chart patterns and indicators to guide their trading decisions.
ChartMill provides market data with a 15-minute delay, which may not be suitable for traders who depend on real-time information. This aspect makes the platform more fitting for traders operating on longer time frames.
No, ChartMill does not currently support forex or cryptocurrency markets. The platform is focused exclusively on stock markets, which may limit its appeal to traders interested in a broader range of asset classes.
ChartMill employs a credit system where users receive a monthly allotment of credits that can be used to access various features on the platform. Unused credits roll over to the next month, providing flexibility in how and when to use the platform’s services.
Yes, ChartMill offers a premium subscription plan that provides unlimited access to all the platform’s tools and features, removing the limitations imposed by the credit system on free users.
ChartMill distinguishes itself with its unique credit system, customizable stock screening criteria, and support for multiple stock exchanges. However, it may need some of the real-time data and asset diversity offered by competitors like TradingView and Stock Rover.
ChartMill provides support through various channels, including email and an extensive FAQ section on their website. The platform is committed to assisting users in making the most of its features and ensuring a positive user experience.
Related Posts
