ChartMill Review – A Screener for Technical and Fundamental Traders

About ChartMill

ChartMill is an online stock research platform with sophisticated scanning, charting, and analysis tools. ChartMill does the legwork for you to provide daily trade ideas based on technical pattern breakouts, undervalued fundamentals, and more. You can customize the filters and settings just hit the ground running actionable with trade ideas. The software provides technical analytics and fundamental analysis for over 6,000 stocks.

Is this service worth paying for? Keep reading our ChartMill review to find out.

ChartMill Pricing Options

ChartMill offers three different subscription plans:

• Monthly – $34.97/month
• Yearly – $299.97/year
• Credits – $15/10,000 credits

The monthly and yearly plans are recurring subscriptions that offer unlimited access to all of ChartMill’s tools and reports.

The credits plan offers one-time credits that can be used to generate a variety of different reports. For example, technical analysis reports and fundamental analysis reports cost 250 credits each. Viewing a chart costs 10 credits, or 20 credits for an intraday chart.

Purchasing credits is ideal for subscribers who don’t plan to use ChartMill regularly, but still want access to some of the advanced tools and reports. It’s also a low-cost way to try out ChartMill before signing up for a subscription. A monthly or annual subscription is more cost-effective if you use ChartMill frequently.

ChartMill Features Breakdown

ChartMill offers a range of features that can be used for day trading, swing trading, and investing. Let’s take a closer look.

Stock Charts

ChartMill offers a comprehensive chart analysis tool that’s similar what you get from BarCharts. Users can select from candlestick, bar, and line charts for time frames ranging from intraday to daily, weekly and monthly bars. There are also overlays for trade management strategies like Chandelier Exits, Moving VWAP, Pocket Pivots, Alligators, and Fractal Exits.

The chart settings are limited, but you can make a few small adjustments. ChartMill definitely feels less customizable and less interactive than a platform like TradingView.

One of the cool features of charting in ChartMill is that you can view multiple charts at once by entering a list of comma-separated tickers. This is a great way to compare stock charts and opportunities when doing research.

ChartMill stock charts also provide access to a wide range of technical indicators. You’ll find all most popular indicators, including:

• Moving Averages
• RSI
• MACD
• Stochastics
• etc

You can change the basic parameters for these indicators, but don’t expect a ton of customizbility. ChartMill also offers some proprietary technical indicators, such as:

• ChartMill Value Indicator
• ChartMill Trend Indicator
• ChartMill Relative Strength
• ChartMill Setup Rating
• Etc

There is a learning curve associated with the proprietary indicators, but ChartMill has good documentation about what they are and how to use them. They definitely add some unique value to the advanced charts in ChartMill.

Stock Screener

ChartMill features a robust stock screener with a broad range of filters. What’s great about this stock screening in ChartMill is that you can combine technical and fundamental-based scans to find under-the-radar opportunities and entries. The format of the scanner is similar to the FinViz scanner. 

Filters are organized by theme. Here are a few examples of the scanning parameters available:

General

• Exchange
• Price
• Trading Volume
• Market Cap

Peformance

• Daily Performance
• Weekly Performance
• Price vs. Moving Average
• Gappers

Indicators (Technical Screening Criteria)

• Bollinger Bands
• RSI
• Stochastics
• ChartMill Trend Indicator
• ChartMill Value Indicator

Support/Resistance

• Price Relative to Support
• Price Relative to Resistance

Fundamental

• ChartMill Fundamental Rating (and other proprietary ratings)
• EPS Growth
• Price/Sales
• PEG

Overall, this is a great stock screener with a lot of valuable data. You can create technical screens, fundamental screens, or combinations of the two. Another benefit of ChartMill’s stock screener is that it includes the company’s proprietary metrics (i.e. ChartMill Value Indicator, Trend Indicator, etc.).

Once you create your stock screeners, you can view the results in a variety of formats. You can view stock charts, price quotes, fundamental data, technical data, etc. This adds another level of versatility to the stock screener.

Stock Analyzer

ChartMill’s stock analyzer offers a quick way to find trade ideas based on technical and fundamental analysis. It’s somewhat similar to the automatic reports we reviewed in the Stock Rover platform.

With the analyzer, you can choose from several opportunity types:

• Technical Breakout Setups
• Affordable Growth
• Decent Value Stocks
• Best Dividend Stocks
• Strong Growth Stocks
• Technical Setups

You can also filter results by stock exchanges and price.

ChartMill analyzes technical and fundamental parameters, including its own proprietary indicators, automatically to populate the ideas each day and generate reports. The reports themselves are really detailed and cover the technical and fundamental parameters the software analyzed plus analyst ratings for the stock.

Keep in mind that you’ll use up a lot of credits for stock analyzer reports, so budget wisely if you’re not on a subscription plan.

Alerts

ChartMill offers highly customizable and actionable alerts based on more than just price. Some of the alert options include:

• Trade setup alerts
• Earnings alerts
• News alerts
• Insider transactions alerts
• Analyst rating change alerts

You can also get an alert when a stock qualifies for one of your pre-saved screens. This is super flexible and lets you create alerts based on any combination of technical and fundamental parameters available in the screener.

Watchlists

Chartmill’s watchlists are another major draw for the platform. You can create watchlists and build alerts, indicators and drawings right on the charts for the stocks in your list. ChartMill also provides premade watchlists that are updated daily. This makes it easy to find the strongest breakouts and breakdowns and other chart patterns before the stock market opens.

Platform Differentiators

ChartMill is an actionable platform for finding trading ideas thanks to its comprehensive screener, stock analyzer, and proprietary indicators. The fact that it combines technical and fundamental analysis is a huge plus for swing traders and active investors. ChartMill’s charting tools aren’t as customizable as the charts that some competitors offer, but they’re more than detailed enough to enable traders to dig into ideas.

ChartMill’s credit system is also somewhat unique. The ability to buy credits allows traders to use ChartMill in combination with other stock analysis tools rather than forcing you to decide between buying a ChartMill subscription or a subscription to an alternative platform. So, you can use ChartMill in a limited capacity to generate ideas, then use tools like TradingView or FinViz for charts and screening.

What Type of Trader ChartMill is Best For?

ChartMill is suitable for swing traders and self-directed investors of all levels. The platform is pretty flexible and can be customized to work with almost any trading strategies. The best candidates for this platform are swing traders and active investors who have a solid knowledge base of technical patterns and can take advantage of the alerts and trade ideas to find opportunities.

Day traders may be able to use some of ChartMill’s features and ideas, but the platform’s tools aren’t designed for day trading. Price data is delayed by 15-20 minutes and the charts aren’t customizable to the degree that many day traders need. Still, with a credits plan, day traders can use ChartMill to find opportunities and then analyze them further with a platform that offers real-time data.

Pros

• Powerful scanner enables technical, fundamental and pattern-based stock scans
• Proprietary chart indicators and trade management overlays
• Watchlists of stocks triggering premade filters for breakouts and cheap value
• Highly customizable alerts based on earnings, news, scans, and more
• Great value with monthly and annual subscription plans

• Delayed quotes can limit usability for day traders
• Charts don’t offer a ton of customization options