Estimated Earnings Beat Scanner for ThinkorSwim

[markos]

This will help you scan for estimated earning beat within the last 10 days.

Plug this into your scanner for potential Stock & Option plays.

# Earnings beat Estimated Earnings within the last 10 days
# Mobius
# Chat Room request 07.17.2019

def EE = if isNaN(getEstimatedEarnings())

         then EE[1]

         else getEstimatedEarnings();

def AE = if IsNaN(GetActualEarnings())

         then AE[1]

         else GetActualEarnings();

def AE_Bar = if AE != AE[1]

             then barNumber()

             else double.nan;

plot H = AE > EE and

         barNumber() - HighestAll(AE_Bar) <= 10;

 

[Tradervic]

Markos, what does this indicator do? Does it find stocks that beat earnings in the last 10 days? And if so, how do we trade it? Thanks

 

[markos]

@Tradervic I am not being a wise guy, take no offense. This is not an indicator, but, a scan. It does just what it says. "Earnings beat Estimated Earnings within the last 10 days".
When you run the scan during earnings season or any other time, find the ones with the best set ups for your style of trading.
There are many ways to use it. This isn't investment advice, however, if we're in an upward market, a person could watch those "Estimate Beaters" and trade options according to their plan.
If you are a long term investor, an earnings beat may help put a floor under the stock price or reassure a dividend.
Sometimes an earnings beat causes a stock to go down. Why? You would have to ask the "algos", but, my hunch is that they're not talking!

 

[Tradervic]

Got it Markos, no offense taken. I think if a stock moves up due to earnings and breaks resistance, I would look to go long...I prefer to sell bull put spreads.

 

[Nikola]

Can you adjust for earnings losers? Maybe to catch when it starts recovering from a drop?

 

[K1CK455]

Hi,
Is there any way i can scan for stocks with future year guidance raised??
thanks

 

[tomsk]

Unfortunately, we are limited to whatever data ThinkScript has access to. Pertaining to earnings the only metrics available are GetActualEarnings() and GetEstimatedEarnings(). Both of these functions were used in the code that @markos posted in post #1 above

 

[mc01439]

Unfortunately, we are limited to whatever data ThinkScript has access to. Pertaining to earnings the only metrics available are GetActualEarnings() and GetEstimatedEarnings(). Both of these functions were used in the code that @markos posted in post #1 above

Too bad about the limited earnings data. Wish TOS had a "Get ex Dividend date. Would be very useful.

 

[tomsk]

Too bad about the limited earnings data. Wish TOS had a "Get ex Dividend date. Would be very useful.

The closest you can get to it is using GetEventOffSet to extract the dividend event, here's the TOS link. It should get you closer to the ex-dividend date

https://tlc.thinkorswim.com/center/...nctions/Corporate-Actions/GetEventOffset.html

 

[mc01439]

Thanks @tomsk!

 

[K1CK455]

Unfortunately, we are limited to whatever data ThinkScript has access to. Pertaining to earnings the only metrics available are GetActualEarnings() and GetEstimatedEarnings(). Both of these functions were used in the code that @markos posted in post #1 above

Thanks tomsk