Stocks screener tools play a crucial role in identifying potential penny stocks with high breakout potential. Traders looking for undervalued opportunities often rely on these scanners to filter stocks based on volume, price action, and technical indicators. Additionally, using a calculator for CAGR (Compound Annual Growth Rate) helps assess the long-term growth potential of penny stocks before making investment decisions.
In this article, we will explore the best stock scanners for penny stocks and how they can improve trading strategies.
Why Use a Stock Scanner for Penny Stocks?
Penny stocks are highly volatile and can experience rapid price movements within short time frames. A good stock scanner provides:
✔ Real-Time Alerts – Helps traders react quickly to price movements.
 ✔ Volume Breakout Detection – Identifies stocks experiencing unusual trading activity.
 ✔ Technical Analysis Tools – Scans for moving averages, RSI, and MACD patterns.
 ✔ Custom Filters – Allows traders to filter stocks based on price, sector, or market cap.
Top Stock Scanners for Penny Stocks
1. Trade Ideas
AI-powered stock scanner with automated trade signals.

Real-time alerts for penny stock breakouts.

Supports integration with trading platforms for automated trading.

2. Finviz Elite
Advanced filtering options to scan for penny stocks based on volume, RSI, and price action.

Customizable alerts for stocks crossing key technical levels.

3. TradingView
Provides a user-friendly interface for scanning penny stocks.

Features Pine Script for automated alerts and backtesting.

Offers multiple time-frame analysis for trend confirmation.

4. ThinkorSwim (TD Ameritrade)
Free scanner with powerful charting tools.

Custom scripting to filter stocks below $5 with high trading volume.

Pre-market and after-hours scanning capabilities.

5. Benzinga Pro
Real-time news alerts for penny stocks.

Customizable screener for filtering stocks based on catalyst-driven events.

6. Scanz (EquityFeed)
Focuses on low-priced stocks with strong breakout potential.

Offers real-time level 2 data to analyze market depth.

How to Use a Stock Scanner for Penny Stocks
Set Up Filters – Use the stock screener to filter stocks based on:

Price – Below $5 or as per your risk preference.

Volume – Minimum daily volume of 500K+ shares.

Market Cap – Small-cap or micro-cap stocks.

Identify Key Patterns – Look for breakout patterns like:

Moving average crossovers.

RSI below 30 (oversold) or above 70 (overbought).

Stocks forming bullish chart patterns.

Use a CAGR Calculator – Before investing, use a calculator for CAGR to estimate the potential long-term returns of a penny stock based on historical performance.

Final Thoughts
Using a stocks screener is essential for traders looking to capitalize on penny stock opportunities. Combining a stock scanner with a calculator for CAG helps identify stocks with strong growth potential while managing risks effectively.