MarketEdge Review - Is This The Stock Research You Need? (2024)

About Market Edge

MarketEdge is a stock research platform that helps traders find stocks to trade. The platform uses automated technical analysis to identify trending stocks and offers a variety of actionable stock screens. MarketEdge trade ideas cover a lot of ground, making this platform suitable for a wide variety of active investors, swing traders, and day traders.

In our MarketEdge review, we’ll take a closer look at what this platform can do and help you decide if it’s right for you.

MarketEdge Pricing Options

MarketEdge costs $29.95 per month, and you can try out the software free for two weeks (credit card required).

You can upgrade your subscription to include a proprietary indicator, the S&P 500 Short-range Oscillator, for $69.95 per month. This indicator, which provides information about whether the S&P 500 is overbought or oversold, is delivered in a nightly email that is not included with a standard MarketEdge subscription.

MarketEdge Features

Stock Research

MarketEdge tracks more than 3,400 US stocks and ETFs, and technical reports on these securities are at the heart of the platform. Unlike traditional stock research reports, MarketEdge reports are all about technical analysis.

Based on how a stock is performing, MarketEdge will give it an Opinion Score and a Power Rating. The Opinion Score ranges from 0 (bearish) to 5 (bullish), and the Power Rating ranges from –60 (bearish) to +100 (bullish). MarketEdge also offers a simple recommendation that it calls its Second Opinion: Avoid, Neutral, or Long.

These ratings take into account a number of technical metrics, which MarketEdge breaks down in its reports. These include MACD, stochastics, RSI, moving average slopes (whether they are up or down), on-balance volume, and money flow. MarketEdge displays this data in tables, which can be a little difficult to interpret if you’re used to looking at these indicators on a chart. On the other hand, the platform simply labels many indicators as bullish, bearish, or neutral, so it’s pretty easy to quickly scan a report and get a good idea of what’s happening with the stock.

Another neat tool within MarketEdge is its Techniscan reports. These are essentially PDF versions of its technical reports, but they also include a timeline of important technical events – for example, moving average crossovers, price gaps, or MACD turning positive or negative. So, you can see whether a stock has recently had a number of bullish technical events in a row or whether the technical story is more complex.

Trade Ideas

MarketEdge uses its automated technical analysis tools to help traders find opportunities. The platform has dozens of premade stock scans that traders can use to find stocks to research further.

Some of these are relatively basic. For example, there are scans for gainers, losers, and stocks trading with above-average volume. There are also scans for stocks that were recently upgraded or downgraded by MarketEdge.

More interesting scans cover stocks that are nearing their 52-week highs or lows, within 1% of a support or resistance line, or experiencing price gaps up or down. Traders can check out the short-term buy and sell lists, which are curated daily based on stocks that are bouncing off support and resistance areas.

Then there are scans for potential setups. MarketEdge offers lists of “bottom fishing” stocks, potential reversals, and oversold stocks. It also has scans for moving average crossovers, stochastics crosses, and relative strength breakouts. Some scans include fundamentals to help you find value, growth, momentum, and CANSLIM stocks.

All of the trade ideas are displayed in a customizable table, so you can quickly see MarketEdge’s Second Opinion rating and any technical metrics that are relevant to a strategy.

Stock Screener

You can also build your own stock screens within MarketEdge. The stock screener is in some ways more limiting than screeners like Scanz or FinViz, but in other ways more actionable. For example, you can’t set a minimum threshold for on-balance volume, but you can screen stocks based on whether their on-balance volume is bullish or bearish. Similarly, you can scan for stocks that recently experienced a bullish or bearish moving average crossover or that have bullish or bearish stochastics or relative strength.

Note that the stock screener doesn’t offer much in the way of fundamental parameters. You can filter by growth, value, momentum, or CANSLIM stocks, but you can’t alter what fundamental metrics determine these categories.

Screener results are shown in a customizable table, similar to how trade ideas are displayed.

Technical Charts

MarketEdge does offer basic technical charts, although it can hardly compete with a dedicated technical charting platform like TradingView. You can overlay any of the key technical indicators that MarketEdge uses for its automated technical analysis, but the whole list only includes around 15 indicators.

One useful feature of MarketEdge’s charts is that it annotates every bullish and bearish technical event. In effect, you get a visual representation of the timeline from the Techniscan reports.

Market Commentary and Indicators

The analyst team behind MarketEdge provides daily, weekly, and monthly commentaries on the state of the market. The commentary isn’t groundbreaking and likely won’t be that helpful for traders who keep their ears to the ground – or simply follow CNBC’s market coverage. Still, the daily reports provide a nice summary of market-wide trading action and can be useful for active investors and swing traders who aren’t glued to the market every day.

The platform also has two indicators that provide information about the state of the market. The cyclical trend index (CTI) ranges from –21 (bearish) to +21 (bullish) and gauges the direction of the market’s momentum. The weekly S&P 500 Short-range Oscillator indicates whether the market is oversold (values less than –4) or overbought (values greater than +4).

Customization and Layout

MarketEdge offers a few basic customization features. You can build an unlimited number of watchlists and save custom screens. You can also save default table layouts for displaying screen and trade idea results.

MarketEdge Platform Differentiators

MarketEdge uses automated technical analysis to help traders find opportunities in the market. The automated analysis is relatively simple in that traders don’t have to do anything – they can simply look up a stock and find out whether its price action is bullish or bearish. The simplicity of MarketEdge is a major selling point over more complex automated analysis software like TrendSpider or Investor’s Business Daily MarketSmith.

At the same time, MarketEdge’s analysis is highly actionable. The premade stock screens offer an excellent starting point for finding trading opportunities, and it’s easy to build custom screens based around the platform’s automated analysis. While it would be nice if the MarketEdge stock screener offered a bit more flexibility, the platform does a good job of helping traders find setups.

What Type of Trader is MarketEdge Best For?

MarketEdge is suitable for a variety of traders. The timeframe for the indicators used in the platform’s automated analysis are mainly geared toward active investors and swing traders. However, there are intraday scans available that day traders could use to find setups as well.

MarketEdge is very easy to use, making it as suitable for beginners as it is for seasoned traders with a tested strategy. Active investors should keep in mind that MarketEdge offers very little fundamental analysis, so it may not be the best choice if your trading strategy revolves around a specific category of stocks such as value or growth stocks.