ChartMill Review & Test 2024 by LiberatedStockTrader

Are you looking for a comprehensive stock screening tool that can inspire many trading strategies? Due to many reader requests, I tested ChartMill, and to my surprise, I discovered an excellent stock analysis platform.

☆ Research You Can Trust ☆

My analysis, research and testing stems from 25 years of trading experience and my Financial Technician Certification with the International Federation of Technical Analysts.

LiberatedStockTrader’s review testing awards ChartMill 4.0 stars. Its powerful stock screener, trading ideas, and pattern recognition make it a great solution for novice and intermediate investors.

Its combination of stock screening, charts, and financial data makes it a one-stop shop for both technical and fundamental analysis. ChartMill offers a multitude of pre-built screens created by both its developers and users, which helps you get started quickly.

My testing will give you all the information you need to decide whether ChartMill is right for you and, if not, what the best alternatives are.

Ratings Breakdown

TrendSpider Rating	4.0/5.0
💸 Pricing	★★★★★
💻 Software	★★★★✩
🚦 Trading	★★★★✩
📡 Scanning	★★★★★
📰 News & Social	★★★✩✩
📈 Charting	★★★★✩
💡 Pattern Recognition	★★★★✩
🕯️ Candlestick Recognition	★★★★✩
🔍 Backtesting	★★✩✩✩
🖱 Usability	★★★★★

Our testing and rating methodology.

What truly sets ChartMill apart is its ease of use and intricate stock screener, combining technical indicators, pattern recognition, and financial metrics.

Our Verdict

ChartMill provides a slick charting, screening, and market analysis platform for traders and investors. It’s easy to use, with great workflow and unique features, such as proprietary ratings for trend, value, growth, and health.

The platform boasts proprietary metrics like the ChartMill Value Indicator, Weinstein, and Trend Indicator, which give users unique insights into stock performance.

Charts are another standout feature. They are customizable and offer a range of technical analysis tools. This helps me identify trends and patterns quickly.

Finally, I found the pre-built Trading Ideas strategies particularly helpful. They save time and help generate trade suggestions based on factors like undervalued fundamentals and technical pattern breakouts.

Throughout this review, I’ll discuss ChartMill’s key features, pricing, and overall utility and compare it to similar products on the market. I’ll also answer the burning question: Is ChartMill worth paying for?

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Key Features

ChartMill offers a comprehensive suite of tools for both new and experienced traders. It provides advanced charting and analysis options and facilitates multiple trading strategies with a variety of customizable filters and screening criteria.

⚡ Features	Charts, Watchlists, Screening
🏆 Unique Features	Automated Trendlines, Fibonacci, Candlestick & Price Pattern Recognition
🎯 Best for	Stock Traders & Investors
♲ Subscription	Monthly, Yearly
💰 Price	$30/m or $22.50/m annually
💻 OS	Web Browser
🎮 Trial	✅
✂ Discount	❌
🌎 Region	USA, Europe, UK

Pros

• 85 stock chart indicators and overlays
• Candlestick and Heiken Ashi charts
• Intraday charting included
• Unique stock analyzer feature
• 262 trading ideas pre-built screeners
• 238 stock screening criteria
• 10-year historical data
• Free version available
• Data covering Europe, USA & UK

Cons

• No Mobile App
• Cannot save chart annotations
• No real-time data on any plan
• No integrated trading

Pricing

ChartMill pricing is simple. There are two service tiers, free and paid. You can choose between a monthly or an annual subscription.

• Free trial for new users. This trial allows users to explore many features without any cost.
• Monthly Subscription: $29.97 per month
• Annual Subscription: $259.97 per year ($22.50 per month, offering a 32% discount)

Compare to Similar Products

I have to say that ChartMill is excellent and my recommendation for novice and intermediate investors. However, comparing ChartMill to TrendSpider, TradingView, MetaStock, and Trade Ideas, our tests show that TrendSpider is the best overall stock analysis software passing 10/12 tests.

For automated stock chart analysis, backtesting, and automated bot trading, TrendSpider is our top pick. TradingView is better for a global trading community. Stock Rover is better than TrendSpider for long-term growth, dividend, and value investors. For AI-driven robotic day trading, Trade Ideas is better. For trading real-time news, Benzinga Pro is a better alternative.

Features Analysis

ChartMill offers a range of tools and features for traders looking to make informed decisions. The platform excels in charting, screening, and providing actionable insights through its analyzer and pattern recognition tools.

Charting

ChartMill provides users with five types of stock charts: bar, line, candlestick (filled and hollow), and Heikin Ashi charts. These charts come equipped with essential technical indicators such as RSI, MACD, Stochastics, and Bollinger Bands.

I find the customization options quite robust, allowing me to tailor the charts to my specific needs. This flexibility makes it easier to identify trends and potential trading strategies.

ChartMill charting is unique in the fact that it can display many charts on a single page with the same chart setup and indicators. You can annotate charts, but if you reload the page, the annotations are lost. I could not figure out how to save annotations.

Screening

One of ChartMill’s standout features is the stock screener. It allows users to filter stocks based on over 238 criteria. The screener contains all the expected criteria for profitability, dividends, financials, and valuation, but it also has many unique elements, such as technical ratings, trade setup ratings, and trend intensity.

I find it extremely useful to customize screening criteria to match my investment strategies. ChartMill elegantly combines technical screening with fundamental analysis and even analyst ratings and trading strategies.

The screener supports ten years of historical data, so I can see how my chosen filters would have performed in the past. This feature helps refine the strategies and make more reliable trades.

Additionally, the pre-built screens created by both ChartMill and its users provide a good starting point for new users.

Technical & Value Ratings

ChartMill offers a comprehensive rating system that evaluates stocks based on multiple technical indicators. These ratings range from very bullish to very bearish, providing a quick snapshot of a stock’s technical health. Below, you can see the selection boxes for technical ratings, setup ratings, and even candlestick pattern recognition.

I often rely on these ratings when making quick trading decisions, as they help prioritize stocks that align with my trading strategies. The ratings are also dynamically updated, ensuring that I have the latest data at my fingertips.

ChartMill Analyzer

The ChartMill Analyzer is an invaluable tool for exploring stock data more deeply. It provides detailed analysis using various technical analysis tools and screeners. Pre-built analyzers check for technical setups, affordable growth, value, dividend, and growth stocks.

I use the analyzer to identify potential trading ideas and validate them using the data provided. The analyzer report explains how a stock meets the selection criteria and even provides example entry and exit price points. I really like this feature; I think it is unique and adds a lot of value for users.

The analyzer integrates seamlessly with the rest of the platform, allowing for a smooth transition from identifying a stock to analyzing its potential. The insights gathered from this tool can help you make more informed investment decisions.

Automated Pattern Recognition

One of my favorite features is the automated pattern recognition tool. This tool scans for 29 technical patterns like head-and-shoulders, double tops, and triangles. Additionally, using the screener, you can also scan for 30 candlestick patterns; this is extremely important for day traders.

The automated recognition feature saves me a lot of time and ensures that I don’t miss important patterns. This is particularly useful for day trading, where timing and speed are crucial.

Trading Ideas

One of the most impressive features is the trading ideas functionality. Select a trading strategy, timeframe, and long or short, and you are presented with pre-built strategies.

I absolutely love the trading ideas feature. It makes finding opportunities simple and effective for beginner and intermediate investors and traders.

Trading strategies include growth, value, dividend, momentum, mean reversion, and pullbacks. There are even squeeze-play strategies for Meme stocks. Timeframes include day trading, swing trading, position trading, and long-term investing.

ChartMill’s Trading Ideas Helps You Find Potential Trade With 263 Pre-Built Strategies

Price Alerts

ChartMill offers a robust alert system. I can set alerts for stock prices, news events, screener alerts, and insider transactions. However, you cannot set an indicator alert, for example, when the price crosses up through a moving average line.

These alerts can be customized to suit my investment strategies, ensuring that I am always notified of important changes. Because the data is not real-time, the alerts are delivered within 15 minutes.

Market Monitor

ChartMill’s market monitor feature allows you to see the market’s status and which sectors are performing or underperforming in a simple snapshot. The market monitor provides a visual representation of the volume, gainers and losers, and major indices.

ChartMill: Market Monitor Screenshot

Gapping Stocks Report

Another interesting feature is the gapping stocks report, which provides a listing of stocks with recent price gaps. Similar reports are available for insider trades, most active traders, and pre/post-market movers.

Is ChartMill Worth It?

Yes, ChartMill is worth using because it provides innovative features wrapped in a simple interface, making investing accessible for beginner and intermediate investors. I highly rate the trading ideas and screening features, which are well thought out and implemented.

ChartMill Alternatives

What are good alternatives to ChartMill? If you trade outside the US markets and want a community, then TradingView is a good option. For global real-time news, MetaStock is a good choice. For black-box AI-driven trading signals, Trade Ideas is the best. For automated stock chart analysis, TrendSpider rules. See the feature comparison below.

Final Thoughts

I first tested ChartMill in 2024, and I have to say I am impressed. I highly recommend it for novice investors as it makes charting and finding trading opportunities incredibly easy. It also has a plethora of excellent screening criteria for value growth in dividend investors.

FAQ