MarketInOut is an online screener and backtesting tool for stock and forex traders. The review here is mixed; the screener has some positive elements -- mainly its breadth of markets (stocks around the world can be screened for) and its ability to create screens that combine fundamentals and technicals, all at a relatively low price -- but the application has some considerable usability issues, and its backtest tool is also a bit limited. MarketinOut has many free features; full access is available for $139 for 6 months (about $23.17 a month), $219 for 12 months ($18.25 a month), or $329 for 24 months (about $13.71 a month).
About the MarketInOut Screener
Here are some key points regarding the MarketInOut screener:
1. The screener's most unique feature, as noted above, is its ability to screen on the basis of fundamental and technical factors. One can screen based on mathematical indicators pertaining to price, or about price action as well. So, for instance, one can screen for stocks that have fallen by more than 50% from their 52 week high, have a dividend yield of at least 2%, and have a price/book ratio under 3. Ichiomoku clouds, moving average crossovers, candlestick patterns, and price action chart patterns (i.e. support and resistance lines, trendlines, price channels, etc) are all properties that can be screened against, in addition to a wide array of fundamental factors. I found this to be a very compelling feature, as it is something I personally have been doing in a manual capacity already.
2. The screener also covers a robust universe of stocks. Below is a list of exchanges covered:
NYSE -- USA
NASDAQ -- USA
OTC -- USA
OTCBB -- USA
TSX -- Canada
TSXV -- Canada
LSE -- U.K.
XETRA -- Germany
MIL -- Italia
PAR -- France
NSE -- India
BSE -- India
SES -- Singapore
HKSE -- Hong Kong
ASX -- Australia
NZX -- New Zealand
BCBA -- Argentina
BOVESPA -- Brazil
BMV -- Mexico
For the price that MarketInOut charges, this is one of the widest list of exchanges I've seen a screener cover.
2. MarketInOut also has a screener that allows for screening of the forex market based on technical factors. For instance, one could screen for any pair that crossed the 50 SMA in the past day.
3. The screener does not possess an OR operator; it only passes an AND operator. For instance, I can look for stocks that have an RSI greater than 12 AND a price/earnings ratio less than 10, but I cannot specify a screen that looks for either OR condition.
4. MarketInOut also offers a forex correlation and stock correlation tool, which allows traders to see the correlation of forex pairs and stocks over the past year. I found this tool to be a simple way of helping avoid building a portfolio that is excessively overly correlated.
About the MarketInOut Backtesting Tool
1. The backtesting tool allows traders to setup screens, and see how they would have performed under historical conditions. This is extremely useful, but one issue is that it cannot handle a very large amount of data. For instance, when I tried to backtest a strategy against 10 years of previous data, I get a server error; the calculation cannot complete. Backtesting did work well when evaluating the past year, and users are given the option to select a start and end date for their backtest -- and so one could create a 10 year backtest by conducting 10 individual 1 year tests. In general, robust backtesting requires considerable processing power -- and thus desktop solutions are far better than web-based ones.
2. The backtest tool allows users to specify a stop loss based on percentage risk, a trailing stop, and position size requirements, but it does not allow users to factor in transaction costs.
3. The same broad universe of stocks that can be screened for can also be backtested against, using a large set of fundamental and technical criteria.
4. The backtesting tool includes a visualization that allows users to see the results of the backtest compared to the results of a major index.
Other Features
1. Technical Analyzer. MarketInOut also has a Technical Analyzer that automatically analyzes a given symbol. The feature can automatically identify support/resistance lines, trendlines, and even more obscure indicators like Tirone levels. In this regard, it is a bit similar to AutoChartist. I was impressed by the general accuracy of the tool.
2. Saving Screens and Backtests. Screens and backtests can be done for free, but to save them to facilitate usage on a recurring basis, a premium account is required. In sum, any feature that requires saving is a premium feature.
3. Alerts. The service also allows subscribers to set up alerts. Only technical criteria can be used to setup alerts -- not fundamental criteria. Once the specified action occurs, subscribers can request to be notified via email or SMS.
4. Pre-Screens. The service includes a number of built-in screens that look for a variety of characteristics. For instance, some screens attempt to replicate value strategies used by Warren Buffet. If relying on pre-screens is your preferred trading strategy, I would recommend checking out GuruFocus' offering, which I think has a far more robust assortment of pre-screens. Like GuruFocus, MarketinOut offers pre-screens that rely solely on fundamental analysis; there are no pre-screened technicals, nor any pre-screens featuring a hybrid of fundamental and technical factors.
5. Portfolios. MarketInOut allows subscribers to create portfolios that monitor the value and performance of their investment. Transaction prices are stored, and value and performance is tracked based on the last available close price.
MarketInOut Review: A Forex and Equities Screener and BackTesting Tool
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