In 2024, there are several excellent trading tools available for strategy backtesting and finding stocks to trade for free. Here are a few options:
- TradingView: TradingView offers powerful charting tools and a vibrant community where traders can share ideas and strategies. While some advanced features require a subscription, basic backtesting and stock screening tools are available for free.
- QuantConnect: QuantConnect is a platform that allows users to design, backtest, and deploy trading algorithms across multiple asset classes. It supports coding in Python and C#, and offers free access to its basic features.
- Thinkorswim by TD Ameritrade: Thinkorswim is a comprehensive trading platform offering advanced charting, technical analysis tools, and a customizable interface. It provides a paper trading feature for strategy testing without risking real money.
- Yahoo Finance: Yahoo Finance provides free access to a wealth of financial data, including stock screeners and historical price data. While it doesn’t offer advanced backtesting capabilities, it’s a valuable resource for researching potential trades.
- Quantpedia: Quantpedia is a database of quantitative trading strategies that allows users to research and backtest various approaches. While some premium features require a subscription, there are free strategies available for testing.
- Alpha Vantage: Alpha Vantage offers free access to historical financial data and a variety of technical indicators. While it doesn’t provide built-in backtesting capabilities, traders can use its data to develop and test their own strategies using other platforms.
Remember to thoroughly research and test any trading strategy before using it with real money. Additionally, consider the limitations and biases of free tools, and supplement your analysis with additional research and expertise.
