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8 tools active traders need to survive and thrive

From stock screeners to AI market monitoring, learn what they are and how to use them.

This page is sponsored by Moomoo, a stock trading app featuring real-time financial data and comprehensive news to help you invest confidently.

Moomoo is a trading platform that offers commission-free stocks and ETFs and less expensive access to Chinese and Hong Kong stocks compared to other brokers. One of its major perks is the variety of tools it offers to help active traders make the right decisions. We’ve selected eight of the best and most useful features you get by having a Moomoo account.

1. Technical screener

Located in the Discover tab is the screener tool. This is a search function that helps you find stocks, options or ETFs based on parameters that you set. For example, you can set an industry, a stock market, a company market cap and trading volume. You can even select financial and technical parameters such as revenue and moving averages.

Once you set the parameters, the Moomoo screener will search for instruments that meet your criteria. This is an incredibly useful tool if you have developed a trading strategy and you want to find the right stock or ETF to trade. Moomoo offers more parameters to choose from compared to similar platforms like Webull.

2. Customized alerts

Moomoo’s mobile app as well as its desktop platform let you set up custom alerts. The way this works is you select a stock or an ETF, and you set certain criteria so that the platform notifies you when they’re met. You can set an alert when a stock price is reached, when there’s a huge volume change or when there are news announcements.

This is useful if you want to buy a specific stock at a set price but you don’t have the time to check the price every hour. Once the price is reached, you’ll be notified both on the desktop platform and mobile app no matter where you set the alert from.

3. Advanced charts

Price charts can help you predict — with some degree of accuracy — the price movement of stocks and ETFs. Some charting techniques are simple and don’t require advanced charts. But if you want to do more advanced analysis and use chart patterns and indicators, you’ll need sophisticated technical tools.

Luckily, Moomoo offers a wide selection of technical indicators and drawing tools to help you make the right decisions.

Technical indicators

Moomoo offers a total of 62 indicators, from the simple moving average, moving average convergence divergence and Bollinger bands to the more advanced Ichimoku. This should be more than enough for beginners and advanced traders alike who want to do their own technical analysis.

For those who don’t know or don’t want to do the analysis themselves, Moomoo gives an automatic overview of some technical indicators. For example, you can see when some indicators show overbought or oversold levels for a stock. Both typically mean the stock has extended too far and may pull back.

Drawing tools

To complement its technical indicators, Moomoo offers 22 drawing tools both on mobile and desktop platforms. Even though you’re unlikely to use all of them, like the Gann angle lines and boxes, you’ll find great value in the ones you would use.

Aside from the standard lines and channels, you get access to:

  • Triangles and rectangles
  • Impulse waves
  • Head and shoulders
  • Fibonacci lines

4. NYSE Arcabook Level 2 market data

Level 2 market data is one of the coolest features you get with Moomoo’s mobile and desktop platforms. Level 2 is basically the order book that shows position sizes at various prices, in this case only on the NYSE exchange.

For example, you can see 100 shares at $100, and then 200 shares at $101. This can give you an overview of a potential trend.

It can also help you determine at which price to set your buy or sell orders. The most important part is that you get this feature without additional cost. Other brokers charge between $5 and $29 each month to give you access to level 2 data.

5. Multiscreen trading

Not really a groundbreaking tool, but multiscreen trading can be incredibly useful for day traders. Moomoo’s multiscreen lets you use up to six charts simultaneously. But even two would work. For example, use one screen to monitor one time frame — say a four-hour chart — and use another to monitor the daily chart.

The way this works is you determine the trend on the daily chart and decide your entry/exit point on the hourly chart. You can also use multiple instruments on each screen.

6. Trading hotkeys

Moomoo’s desktop platform lets you use a variety of hotkeys. This is useful for day traders who want to execute orders as fast as possible. To set the hotkeys, you need to access the main system settings. There you can add hotkeys for buy orders, sell orders, edit and cancel orders.

Instead of wasting precious seconds to set up an order, you can execute it with a simple command, such as Ctrl + B to buy and Ctrl + S to sell. But this is highly customizable and you can add your own hotkeys.

7. Trading records export

Moomoo allows you to export your trades in a .csv format. This can help you analyze your past trades and see what worked and what didn’t. Tracking your past trades is an excellent way to learn and improve your performance.

8. AI market monitoring

Choose your next trade with an AI market monitoring tool. This tool tracks multiple stocks and compares each individual stock’s volume and price. If the AI notices abnormal changes, it’ll mark them on your trading platform.

You’ll see info such as Main Buy or Main Sell, which shows that the volume on buy and sell orders was higher than in the previous trading days. This can be a useful tool for day traders because you can quickly identify trend shifts and use the momentum to your advantage.

Trading tools: Moomoo vs. Robinhood vs. Webull

We compared Moomoo with Robinhood and Webull to see which platform offers more and better tools for active traders. Here’s what we found.

MoomooRobinhoodWebull
Technical indicators62540
Customized alerts
Advanced charts
Free Level 2 market dataNYSE ArcabookNasdaq
Multi-screen trading
Trading hotkeys
Trading records export
AI monitors

I’m sold. How do I sign up for a Moomoo account?

Signing up for a Moomoo account is simple. Here’s how to do it:

  1. Visit Moomoo’s website.
  2. Choose Open Account at the top of the page.
  3. Enter your email address and set up a password.
  4. Submit your phone number to get a verification number.
  5. Fill out the application form with the required information.
  6. Submit.

Bottom line

Active and day traders who want access to sophisticated and unique tools may find Moomoo is more than enough for their needs. Moomoo also offers access to both US and Chinese markets and commission-free trades for US stocks and ETFs, which only sweetens the deal.

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