Days Till X Dividend For ThinkOrSwim

[Fitzman]

“Dividend capture strategy” returns are the trading technique of buying a stock just before the dividend is paid, holding it just long enough to collect the dividend, then selling it. If you can sell it for as much as you paid, you have “captured” the dividend at no cost.

To be eligible to receive dividends, you have to own the stock at least one trading day before the dividend payment date.
Therefore, is it possible to create a watchlist column displaying the ex div date - either date displayed and/or the number of days until ex div date?

I know the actual dividend date is displayed as an event in the chart, and the ex div date can be selected as a visible point in the TOS app, but I cannot seem to find it as a watchlist item.

Thank you,
Fitz

 

[BenTen]

You can try this:

# WatchList of Label Days Till X Dividend
# If over 30 days away shows 30
# Mobius
input DaysTillXdiv = 30;

def LastDividendBar = AbsValue(GetEventOffset(Events.DIVIDEND, 0));
def NextDividend = if isNaN(LastDividendBar) then 0 else LastDividendBar;
AddLabel(NextDividend == DaysTillXdiv, "Dividend More than 30 days out", color.white);
AddLabel(NextDividend <= DaysTillXdiv-1 and NextDividend > 0, "Dividend in " + NextDividend + " days", Color.Red);

 

[Fitzman]

Thank you so much, Ben!

 

[northdecoder]

I thought I would add an improvement here, with scripts tested in charts not a watchlist.

The script was tested with stocks scanned for:
volume > 500K
PE 4 - 20
last > 10
Dividend yield 4 - 20

#hint: Label days since last dividend and days until next dividend, if more than look_ahead_days away state that it is more. If database has no next dividend then no label.

# Credits:
#     Mobius
#     northdecoder 4/12/24

input look_ahead_days = 30;
#hint look_ahead_days: Compare to NextDividend date, add white label for more, and red label for less than.

# # #
# look back for the last dividend
def LastDividendBar = AbsValue(GetEventOffset(Events.DIVIDEND, -1));

# if there were no dividends then set to infinite time 
def DaysSinceLastDividend = if IsNaN(LastDividendBar) then
                               Double.POSITIVE_INFINITY
                               else LastDividendBar;

AddLabel(1,
         DaysSinceLastDividend + " trading days since last dividend ",
         Color.YELLOW);

# # #
# look forward for the next dividend
def NextDividend = AbsValue(GetEventOffset(Events.DIVIDEND, 0));
AddLabel(NextDividend >= look_ahead_days,
         "dividend more than " + look_ahead_days + " days out",
         Color.WHITE);
AddLabel(NextDividend <= look_ahead_days - 1 and NextDividend > 0,
         "Dividend in " + NextDividend + " days",
         Color.RED);

 

[JoseB]

This strategy seems conservative way to make a few bucks. I like it. The obvious thing that would **** is if the price of the stock drops after you buy in to grab the dividend. Any counter measures?