free stock screener for Australian markets

Free Australian Stock Market Screener

Here is a best free stock screener for Australian stock markets called asxiq. 

Scanning for new stock ideas does not have to be a time consuming activity if you know the right websites to go to. Stock Screeners are tools to help you to  find the stocks based a set predefined criteria. The best free stock screeners or also some times called as share filter  give investors the tools they need to perform quality stock scans.

Asxiq provides free stock screen service on Australian stock market - ASX. With few clicks, you will be able to get a full picture on stock market movements. This is a perfect starting point for your stock research, based on fundamental and technical analysis. 

Asxiq provides about more then 300 + technical analysis based screening criteria for a savvy technical traders. For fundamental investors Asxiq lets you filter and select your preferences based on Market Capitalisation, , Dividend Yield, Market Capitalisation, Return on Equity (ROE),  Debt / Equity, Free cash flow  per share and more.

Asxiq also gives users access to more advanced predefined guru screeners picked from the writings of Benjamin Graham, James P. O'Shaughnessy, Joel Greenblatt, Joseph Piotroski  & Ashwath Damodran – to help investors focus on investment strategies.

What is Commodity Channel Index (CCI) Indicator

What is Commodity Channel Index (CCI) Indicator and how to use  for stock screening

 Description:

Commodity Channel Index (CCI) indicator is an oscillator introduced by Donald Lambert in 1980. CCI indicator was designed to identify cyclical turns in commodities. CCI index can also be used to trade securities. The CCI indicator measures the security's price relative to the current moving average. High values of the CCI indicate an unusually high price compared to the average whereas low CCI values indicate unusually low price.

  

Formula :

The equation for calculating the commodity channel index (CCI) is as follows:

CCI = ( Typical Price - SMATP ) / ( .015 x Mean Deviation )

Typical Price = average of the high, low and close prices of the most recent period

SMATP = simple moving average of the typical prices of previous n periods

How does it work?

The CCI measures the variation of a security's price from its statistical mean. High values of CCI usually indicate that prices are unusually high compared to average prices. While low values indicate that prices are unusually low. The CCI usually oscillates between 100 and -100. If the CCI exceeds 100 the price is considered overbought, conversely if the CCI drops below -100 the price is considered oversold. Therefore once the CCI returns below the overbought level (100) a sell signal may be given, and when the CCI returns above the oversold level (-100) a buy signal may result.

Trading Signals

Try the following stock screening ( a.k.a stock filtering)  criteria to filter the stocks listed on ASX

1. Commodity Channel Index (CCI) indicator moved above +100 screener
2. Commodity Channel Index (CCI) indicator moved below -100 screener

list of Australian stock market screeners

A stock market screener is tool stock market traders/investors can use to filter stocks given certain criteria of their choice. Another name used is a share filter.

Here is the list of free and paid stock screeners or free stock market software that are out there for Australian Stock markets 

• asxiq - http://asxiq.com - free one, both technical and fundamental criteria, along with the backtesting capabilities.
• Morningstar http://www.morningstar.com.au/- paid one, only fundamental criteria
• Share Filter - http://www.sharefilter.com/ - paid one, both technical and fundamental criteria , no back testing capabilities
• http://www.australian-economy.com/ - free one, only fundamental criteria
• Stock Scan http://www.stockscan.com.au/ - paid one, only technical criteria, along with the backtesting capabilities

list of AORD stocks that are down for 5 Days Consecutively - 20 OCT 2011

1.      TGA 

2.      PBG

3.      EXT

4.      BKY

5.      BBG

6.      ANN  

apparently ANN (Ansell Limited) was up 13/16 times the next day in the last four years after it is down for five consecutive days courtesy this Australian stock market software