How to Use Chartink for Intraday: Chartink Premium for Intraday Review

If you are in search of a stock market screener that can catch live price moves in stocks and indices and timely notify you of the particular movements, making you well-equipped and confident for intraday trading, Chartink can be an incredible choice.

As a trader, I have been largely relying on a multitude of filters and screeners on Chartink for some time to design my intraday, positional, stock option, and swing trades. The platform has been very helpful, especially in giving me perfect leads to the right stocks for working out my intraday strategies. 

The biggest advantage, in my view, is that Chartink gives real-time data (with little to no delay in its premium plan) on nearly all types of price movements in stocks, based on the type of filters you pick up for the screening.

Interestingly, apart from hundreds of ready-to-go, pre-designed filters, you can build your own filters depending on your specific requirements to dig out stocks, but to go with custom filters, you ought to be somewhat knowledgeable about the key market indicators and all the basic elements of technical analysis.

Check Out My Chartink Premium Hands-On Review Here

Otherwise, if you are not adept at building your own filters, no worries; there are already a number of pre-built filters that you can choose from the given lists to scan the market, catch up with the types of movements you wish to see, and design your trades in accordance with the signals.

In short, Chartink is a powerful stock screener that lets you scan stocks based on an assortment of formula-based filters that induce all the key market scanning elements like indicators, patterns, and technical and fundamental analyses.

Here, I would like to let you show how to smartly use the screener to grab data from the live market. I would like to prepare the article with examples from the live market, screenshots, and video clips, so it might turn out to be useful for you, I believe.

How Does Chartink Work for Intraday?

There is no magical way that one or the other Chartink filter can lead you to a profitable intraday trade.

Success in trading solely depends on your trading skill and expertise, and any screeners, including Chartink, can only contribute to your skill with some indications and signals.

Being a premium user of Chartink for some time, I have been a voracious follower of the stock screener as I have limited time during market hours to scan the stocks individually on my terminal to find the best stocks to trade on.

This is actually a platform where you have hundreds of pre-built and growing numbers of custom filters. In addition, you can also build your own filters based on your knowledge or the ideas shared by other expert traders of your liking.

So it is not easy to say how a particular filter on the platform works in leading you to take profitable trades. Just find it as a platform to further explore the market in real-time and follow the market movements as soon as they take place.

Anyway, in my view, it is one of the best stocker screeners for live market monitoring.

Which Chartink Scanner is the Best for Intraday?

It is indeed a big question, and I have included it here because I have seen many people asking the same in various trading forums and communities over there.

There are actually, as said above, hundreds of pre-designed screeners and filters on Chartink, and picking a particular one for intraday or any other form of trading is ultimately dependent on your style and nature of trading.

I can only talk about what filters I regularly use on Chartink to get signals for my style of intraday trading. If you are a beginner to the platform, it will help you see how things work with those filters below, but over a period of time, you will also learn how to use all the other scans and filters over there on Chartink to plan your trades.

Scanner 1: 15-Minute Stock Breakouts

One such scan is the “15-minute stock breakouts” filter, which you can see on the main page of the platform as the first entry with a clear mention as a way to “identify strong support/resistance levels for market hour trading” for intraday traders.

Let us see how it works.

As you can read from its name, it is a filter with a set of formulas that are designed to alert you to stocks that make a 15-minute breakout in the live market.

In the screengrab above, you can see the set of formulas deployed for running this particular scan, which clearly dictates the exact intent of the searcher.

The best part is that you can customize everything in the formula to refine the results further. So you may get better setups that respect your trading style.

By the way, the same formula can be applied to each segment of the market, like the Nifty 500 (as seen in the screenshot), the Nifty 50, the Nifty 100, the Nifty Bank, cash, futures, ETFs, and more.

Screenshot: Below, have a glance at the results of the search as of this writing. You see a bunch of stocks that had a fresh 15-minute breakout in the live market.

Scanner 2: Gap Up by 3% With 3x Volume

This is one of my other favorite filters on Chartink for intraday trading.

As you can see from its title and the formula (screenshot below), it would bring to you a number of stocks that opened with a gap up of at least three percentage points from the last day’s close and a volume spike of three times from the daily SMA of 10.

Screenshot: The formula of the filter and the scan results on November 3, 2023.

There is a good chance for such stocks to make a little more move up.

While preparing for this article, I got eight stocks as results for this filter, of which six stocks made a clear uptrend from the opened spot in the market hours, which certainly opens up a good opportunity in front of you to make a profit from day trading.

Scanner 3: 52-Week Breakout

This is simply a filter that can deliver to you a collection of stocks that make a 52-week high on a particular day of trading.

As you may know, there is a good chance for the stock to gain further after breaking the 52-week range.

Investors and traders may go bullish with such stocks in the hope that they can record a further upward move, thanks to increased momentum.

Screenshot: The formula for the 52-week breakout filter on Chartink.

Have a detailed look at each entry in the formula of the filter to learn how it works. This is indeed one of the filters I regularly use on Chartink while scouring the market to find my stocks for the trading day.

Scanner 4: Intraday Buying Seen in Past 15 Mnts

Here comes one of my other favorite Chartink filters for intraday trading.

As you can see, it is a filter that can bring to you a collection of stocks that make an uptrend with escalating volume for the last 15 minutes – the three 5-minute candles on a 5-minute timeframe. 

It simply hints at the probability of a further move in the stock prices, so you can take a long position during day trading if you get further confirmation from your other criteria.

Screenshot: Below is the formula for this filter and the scan results I got on October 30, 2023, by 11:00 AM.

Scanner 5: Bearish With Selling Seen in Last 15 Mnts

Fine, this is one of the filters I regularly apply in Chartink to see the stocks that are in a downtrend midway through the market.

Of course, it has been very helpful for me to find stocks to go for short trades during day trading.

The formula for this filter is a bit longer and more complicated (see screenshot above). You can either use it as is or, if you are capable, make changes to refine the results for a better and more confident trading experience.

Screenshot: Below is the result page of the scanner, recorded on Oct. 30, 2023, by noon.

Personally, I don’t just blindly follow any of the ready-made formulas over there.

I often change them to make sure I get a list of stocks that fit perfectly with my trading style and setup.

Once you earn some experience in the market and learn the basics of all indicators, patterns, and other elements, you will be able to modify the formulas in the way you get the stocks filtered out to complement your trading style.

Chartink Screener Search 

If you are a beginner and don’t have deep knowledge about all indicators and other key elements that are required for setting up custom formulas or identifying the best filters on Chartink, you can make use of its search tab to find matching filters.

Find the search tab on the screener’s website here, where you can simply enter any textual keyword like 52-week high, 52-week low, breakout, downtrend, uptrend, or anything else.

Well, by simply making sure that your search term articulates your search intent, you will get varied results, i.e., a large number of predesigned filters prepared by independent and experienced traders and researchers.

So make sure you find a good filter with the right setups by having a glance at its pre-set formulas before planning your trades based on the new finds. 

You can also use this feature to learn how different types of Chartink filters work.

As the formulas of each filter are accessible, you can learn what contribution each element adds to the screening process and, over a period of time, turn out to be a master at the Chartink filters. 

Chartink Premium Vs Chartink Free

Of course, you don’t need a premium plan to access all Chartink filters and screeners, but what makes the premium plan different is that it gives you live data with a small delay, whereas the free version lags behind with a delay of up to eight minutes.

So, in other words, if you run a filter in the live market, you get somewhat delayed data on the free plan, while your results for the same scan on the premium plan are based on the latest market movements.

So, in my view, the free plan is more than enough for a swing, short or long-term trader, but not enough for an intraday or speculative trader.

The premium, as you may know, costs around INR 750 per month.

You can also buy it for a year with some discounts and EMI options. If you can’t afford it, you can still keep using it, but you need to compare the available data with what you see in the chart before planning your trade.

An eight-minute period is quite enough for the market to go in another direction.

Check out the Chartink screener here and here you have the Chartink FAQ and other important guides and more.