If stock values were stable or consistently rising, you wouldn’t need to worry about assessing the actual value of a company’s shares. But the reality is stock prices are volatile and have a wide range of possibilities. This is where a stock screener like Chartmill comes in handy. It helps you evaluate the worth of a company’s stock before you invest. In this article, we’ll discuss some of the features and pros and cons of Chartmill to help you determine if it’s a wise investment.
Learn More About Chartmill
What Is Chartmill?
Chartmill is an online platform for screening the stocks of private and public limited companies to analyze their performances and select companies that appear profitable to invest in. Traders and investors can get honest insights into the stock market, the top gainers, and the losers using Chartmill’s array of advanced technical analysis tools and criteria for choosing companies to invest in. Using real-time data from brokers, Chartmill allows you to break down costs, dividends and fine-tune trading strategies.
Features of Chartmill
- Many Screens: Chartmill offers users a high degree of control in stock screening by providing access to more than 100 filters. These filters allow users to sift through available stocks using various criteria, ranging from technical analysis indicators to valuation metrics like the price-to-earnings ratio. Users can select as many filters as they wish to fine-tune their stock search.
- Screening Results: In Chartmill, you have complete control over how the list of companies that meet your screening criteria is displayed. You can choose to have the results presented in ascending or descending order, and you have several format options, such as tables, columns, summaries, or charts. Additionally, you can customize these formats to suit your specific needs. This make it one of the top trading platforms that allows you to access thousands of stocks.
- Analyzer: To gain in-depth insights beyond just data points for companies listed on the New York Stock Exchange (NYSE), you can use Chartmill’s Analyzer feature. This tool offers comprehensive information on a company’s assets, equity, profit margins, and performance in relation to competitors.
- Upfront Sector Comparison: While it’s often advised to conduct thorough research when screening stocks, having a general overview of various industry performances can be beneficial. Chartmill provides this by displaying the relative strength, current and past two-week profitability, and other key metrics of stocks in different sectors.
- Community of Traders: Chartmill fosters a community spirit by showing the transaction activities of other users. This includes the quantity of shares bought and sold, the unit price for those shares, and the total value of the transactions. Technical filters allow you to break down the investment strategy for individual stocks and day traders.
- Stock Upgrades and Downgrades Analysis: This feature provides updated information on whether stocks of various NYSE-listed companies have been positively or negatively evaluated for their future value.
- Robust Stock Market Analysis: With Chartmill, you can obtain detailed information on the best and worst-performing stocks in the U.S. market, the most active and most traded stocks, and more. It’s advisable to consult this analysis with the screening tools offered by Chartmill.
- Intraday Charts: Chartmill allows you to track real-time stock activity during regular business hours. Set the stock chart to the intraday time frame to view which stocks are actively being traded.
Chartmill Pros and Cons
Distilling the extensive range of features into a concise list of Chartmill pros and cons is no small feat. But for your informed decision-making, we’ve done just that.
- Preliminary Trial: A free trial is good, but Chartmill offers more than a free trial. It allows you to test its features without signing up whenever you visit its website to give yourself a taste of what your experience will be down the road.
- Unlimited Paid Credits: For the tiny fee of $34.97, you can use Chartmill as much as you want for a whole month. A yearly subscription saves you about $6 per month and also gives you access to unlimited use of the platform.
- Renewing Free Credits: If you’re unsure if a Chartmill subscription is right for you, you don’t have to fret. Every month, Chartmill gives free users 6000 credits that expire that same month.
- Robust Blog: Chartmill knows how difficult it may be for new users to navigate their way around the platform, so it reveals insider secrets to maximize everything it has to offer. If you don’t understand the purpose of any screen in the stock screener, head to the blog. You’ll most likely find a detailed explanation of it.
- Trading Ideas: These ideas are preset combinations of screens that Chartmill feels will yield optimal results. This fundamental analysis of domestic and international stock is valuable for beginner traders and retail traders alike. It is a key of the user friendly learning experience of this powerful platform.
- Personalized Alerts: Depending on your preferences, Chartmill sends you alerts to keep you posted on the latest developments on your account. You receive alerts when the ratings of stocks change, when other users complete a purchase or sale, when Chartmill has exciting news to share, etc. Its portfolio analysis helps you find trade ideas, searching among hundreds of criteria.
- No Pressure to Subscribe: With Chartmill, you don’t have to choose between subscribing to a plan and being inactive when your free credits are exhausted. You can purchase 10,000 credits for only $15 and use them for as long as possible.
- Lagging: Chartmill updates its data at 15-minute intervals. This means the information you see on the platform may be up to 15 minutes old. Factor this in when making trading decisions based on the data presented.
- Limited Features in Some Countries: While Chartmill offers a complete suite of features for residents of the USA, availability is restricted for users in other regions. Specifically, those in Canada and Europe may not have access to features such as insider and institutional trades.
Chartmill has a 4.0 out of 5 rating on TrustPilot, which is intriguing because all its reviews have 5-star ratings. Most users concur that the platform effectively aids them in conducting the specific analyses they want before making a trade.
One user comments, “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.”
Another Chartmill customer shares, “Chartmill is a great research tool for swing traders. If you can think of a technical or fundamental indicator to study stocks by then, Chartmill will almost certainly support it. The ability to backtest screening criteria is especially helpful.”
As you can see, users of Chartmill are pleased with the platform’s reliability and accuracy, expressing satisfaction with their choice to use it. They indicate that it is a fantastic tool for traders, whether they are individual investors or casual investors looking for real-time quotes. This charting platform has a selection for advanced charts to choose from.
Final Verdict: Review Chartmill Pros and Cons
Based on the Chartmill pros and cons discussed above, it’s clear that the platform should have a slot in every trader’s suite of tools, including yours. Their guidance, powerful tools, stock scanner and powerful stock research platform for analyzing trading volume make this a key took for traders. Click here to try Chartmill for free.
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