finviz as an alternative to Yahoo finance

I’ve been a long time user of yahoo finance, but the latest redesign really ended it for me.  I’ve now moved over to finviz.com.

I primarily used yahoo for tracking individual stocks in my IRA and taxable portfolios. I found it much easier to record trades on Yahoo finance rather than constantly logging into my broker’s website. I could easily keep track of daily and total gains/losses and also view relevant news stories. Finviz has similar functionality available for free.

Finviz Elite costs $300/year (or you can try it with a month to month plan for $40/month).   It’s really a nobrainer for anyone who manages a portfolio over $100,000.  If you hired a manager, it would cost about 1%-2% per year in fees.  If you are managing your own portfolio, it’s perfectly reasonable to allocate something like 0.5% for tools to help you identify and track your investments. You will be able to write these costs off as a tax deductible investment expense.

Finviz Elite Features

  • Real time data
  • Advanced charts suitable for technical analysis
  • Backtests

If you like technical analysis, you’ll love the finviz elite backtest tool.  It allows you to test the historical results of specific strategies that have quantifiable entry and exit points.

For instance, here’s a simple trading strategy based on the money flow index (MFI):

  • Buy SPY when MFI crosses below 25, then hold this position until SPY’s MFI crosses above 60.

Finviz elite allows you to test this strategy against historical data (back to 1996) and with realistic assumptions (trading costs).

 

Here’s the results:

First the chart.  It compares the return from the above strategy to a buy and hold SPY strategy.  You can see that the MFI trading strategy had a much better return.

Chart from finviz backtester

Next the detailed statistics for the strategy.  Here, the strategy is compared to both the market weighted SPY and an equal weight portfolio of the stocks that make up the SPY index.

Statistics from finviz backtester

In addition to the money index, you can use just about every momentum, volume and volatility indicator possible.  Finviz elite also has a about five dozen pattern recognition indicators.  I’ve listed them all below.

Momentum Indicators:

  • 1-day Rate-Of-Change (ROC) of a Triple Smooth EMA
  • Absolute Price Oscillator
  • Aroon DOWN
  • Aroon Oscillator
  • Aroon UP
  • Average Directional Movement Index
  • Average Directional Movement Index Rating
  • Balance Of Power
  • Chande Momentum Oscillator
  • Commodity Channel Index
  • Directional Movement Index
  • Minus Directional Indicator
  • Minus Directional Movement
  • Momentum
  • Money Flow Index
  • Moving Average Convergence/Divergence
  • Plus Directional Indicator
  • Plus Directional Movement
  • Rate of change : ((price/prevPrice)-1)*100
  • Relative Strength Index
  • Stochastic
  • Stochastic Relative Strength Index
  • Ultimate Oscillator
  • Williams’ %R

 

Pattern Recognition:

  • Abandoned Baby
  • Breakaway
  • Closing Marubozu
  • Concealing Baby Swallow
  • Counterattack
  • Dark Cloud Cover
  • Doji
  • Doji Star
  • Dragonfly Doji
  • Engulfing Pattern
  • Evening Doji Star
  • Evening Star
  • Gravestone Doji
  • Hamme
  • Hanging Man
  • Harami Cross Pattern
  • Harami Pattern
  • High-Wave Candle
  • Hikkake Pattern
  • Homing Pigeon
  • Identical Three Crows
  • In-Neck Pattern
  • Inverted Hammer
  • Kicking
  • Kicking – bull/bear determined by the longer marubozu
  • Ladder Bottom
  • Long Legged Doji
  • Long Line Candle
  • Marubozu
  • Mat Hold
  • Matching Low
  • Modified Hikkake Pattern
  • Morning Doji Star
  • Morning Sta
  • On-Neck Pattern
  • Piercing Pattern
  • Rickshaw Man
  • Rising/Falling Three Methods
  • Separating Lines
  • Shooting Star
  • Short Line Candle
  • Spinning Top
  • Stalled Pattern
  • Stick Sandwich
  • Takuri (Dragonfly Doji with very long lower shadow)
  • Tasuki Gap
  • Three Advancing White Soldiers
  • Three Black Crows
  • Three Inside Up/Down
  • Three Outside Up/Down
  • Three Stars In The South
  • Three-Line Strike
  • Thrusting Pattern
  • Tristar Pattern
  • Unique 3 River
  • Up/Down-gap side-by-side white lines
  • Upside Gap Two Crows
  • Upside/Downside Gap Three Methods

Volatility Indicators:

  • Average True Range

Volume Indicators:

  • Chaikin A/D Oscillator