Just learned from a member in one of my trading pods that
@finviz_com has a “Find Similar Charts” feature, and it can save a ton of time when you are hunting for technical setups you already know how to execute.
Big thank you to Heidi for putting me onto this.
How to use it:
> Open the Finviz charting tool
> Pull up the stock chart you want to study
> On the right side, click “Find Similar Charts”
> Scan the results for matching patterns and timeframe setups
This is also a great way to find stocks within the same theme or sector and see how they are reacting on the day. If the group is moving together, that can add confluence to your trade idea, help you size up with more confidence, or point you toward the cleanest name to short when the market starts breaking lower and vice versa.
You can also invert the matching criteria to find stocks on the opposite side of the pattern, which is useful for spotting divergence and relative strength.
Traders from day traders to swing traders can use this to cut charting time significantly. You can scan the timeframe you trade and quickly build a watchlist around setups that fit your playbook. Another amazing
@finviz_com tool that I will be using it a lot more going forward.