AlphaScreener is a free US stick screener tool with back testing. It is made for beginner and DIY investors. It lets you filter stocks using different criteria and you can run a backtest on them to see if your strategy will work or not. This screener lets you shortlist US stocks from 6000+ companies. In the back test that it runs, it uses the 22 years old historical stocks data to execute your strategies and emails you the results. In the free plan, you can create 3 screeners and 5 back tests in a month. Other than that, you get free unlimited watchlists to keep and track various stocks.
There are many screeners out there but they do not really offer you back tests. Basically, you have to use different platforms for screening and back testing. But that is not the case with the AlphaScreener here. This is an all-in-one platform where you can shortlist stocks using the screener and run a back test almost at the same time. It can prove to be one of the top tools for your stocks research and selection. All you need is a free plan and when you realize that you need a greater number of back tests then you can always subscribe to one of the paid plans.
Free US Stock Screener Tool with Back testing for Beginner Investors
Start by creating a free account on the main website of AlphaScreener here. After that, you can start using the platform. Using this is actually very easy. This platform is created by professionals and you will find all the tools to help you select.
Now, you create your first screener. In the left side, here you are given a list of parameters. Just drag anyone in the “Applied filter” section. As you start adding filters in your screener, the matching stocks will start appearing at the bottom. You can see this in the screenshot below.
Similarly, you can add more filters and the stocks list will once again show up. This way, you can look for the stocks that you want to invest in. You can see more information about the filtered stocks. Just click on its name and it will take you to the next page where you can see financial details about it. From here, you can also add one more stock in the watch list.
Next thing is the one the most contrasting feature of this tool, that is back testing. Here you can analyze and test your investing strategy on historical data of the selected stocks. Here you can test out the strategy on the stocks that you have already selected. Create a back test from the screener section, give it a name and then run it. It will take some time to test your strategy. When it is done, it will notify you via email about the results.
When it has generated the results for the back testing, you can find the results in your account. Open the screener for which you created the back test. In the Evaluate section, you will find the results. Here it shows the growth in graphical manner. You will be able to analyze the returns as it generates a pretty comprehensive results table with the growth of the stocks over the years.
This way, you can create another screener with a different set of filters and stocks. However, for free, you can only run limited number of back tests. Also, you have to keep in mind that for now, it only works with US stocks only. If you are in US and interested into stock market and trading, then you will find this tool very useful.
Closing thoughts:
As a DIY investor, you need to have a list of stocks shortlisted for you already. And AlphaScreener helps you do that in one of the easiest ways possible. What is best about it is that it has features of both; stock screening as well as backtesting. The screener helps you pick top desired stocks to invest after applying strong filters. The backtesting tool on the other hand helps you draft an investing strategy that you can run against the selection of stocks that you make using the screener. I have already explained it above and if you go through it carefully, then I am sure you will understand it more clearly.
