Financial Fundamentals Labels for ThinkorSwim

[MerryDay]

Updated The Analysis and Score For Fundamental Labels
the code in post#1 has been updated.

The biggest revision of this script is to the scoring of the Fundamentals. Originally the P/E was weighted so heavily that no stock w/ a negative P/E could get a score over the minimum threshold. Now, if a stock has positive profits / book ratios and/or positive debt/asset ratios, positive sales/share, good inventory turnover but a negative P/E that stock could possibly receive a good score. CommScope's fundamentals in the 1st post is a good example. CommScope has a negative P/E but otherwise some really interesting numbers.

Additional labels have been added for inventory turnover, book value, and a few more. I originally left these off because how to interpret them varies drastically by sector. But given that fundamentals analysis assumes a certain amount of in-depth understanding of the equity to start with, these can give breathe to that analysis.
HTH

 

[young_and_dumb]

Thanks so much for the update! One of the best indicators I've ever had the pleasure of having!

 

[MColb]

Does anyone know how to script this so that the % change bubble pops up on earnings days? I've been trying to script it with some of the previous scrips posted on here but cant seem to get it, thanks!

 

[XeoNoX]

do you have the code for EPS growth QoQ%?

 

[wtf_dude]

Important fix and yield addition.
Added dividend yield and changed how payout is displayed. The dividend payout is the percentage of the earnings that are paid out as dividend. Previously this showed it as a dollar amount. Just delete and replace all of the dividend info/labels with this.

def DivPayout = if IsNaN(DividendPayout())
                then DivPayout[1]
                else DividendPayout();
AddLabel(show_labels and DivPayout, "Dividend Payout = " + round(DivPayout,2) + "%", GlobalColor("neutral"));

def DivPerShare = if IsNaN(DividendsPerShareTTM())
                  then DivPerShare[1]
                  else DividendsPerShareTTM();
AddLabel(show_labels and DivPerShare, "Dividend Per Share = " + AsDollars(DivPerShare), GlobalColor("neutral"));

def DivYield = if IsNaN(DividendsPerShareTTM())
                  then DivPerShare[1]
                  else DividendsPerShareTTM()/Close;
AddLabel(show_labels and DivPerShare, "Dividend Yield = " + AsPercent(DivYield), GlobalColor("neutral"));

 

[wtf_dude]

do you have the code for EPS growth QoQ%?

Unfortunately, there is no way to code for growth. Absolutely ridiculous, but there ya have it.

 

[SMB777]

@wtf_dude is it possible to wrap text in a label based on TOS chart window size?

 

[wtf_dude]

@wtf_dude is it possible to wrap text in a label based on TOS chart window size?

hrmmmm is it not automatically moving to the next line?

 

[SMB777]

hrmmmm is it not automatically moving to the next line?

This is not specific to your labels. I am trying to see if there is a way to wrap the text in a single long label based on Chart screen window size.

 

[wtf_dude]

This is not specific to your labels. I am trying to see if there is a way to wrap the text in a single long label based on Chart screen window size.

ohhhh, yea sorry I don't believe so

 

[rad14733]

This is not specific to your labels. I am trying to see if there is a way to wrap the text in a single long label based on Chart screen window size.

Chart Labels are single line only...

 

[SMB777]

Chart Labels are single line only...

Thanks @rad14733

 

[57lp]

Using stock hacker, I’m trying to use a custom column and adding a calculation

the script is

Plot Val = ReturnOnEquity() / close (“TYX”) * BookValuePerShare();


TYX being the 30 year treasury yield

the error says ‘ invalid symbol in Stock Fundamentals function’

I realize I’m not providing parameters to the functions but I get the same error even when I do

any help would be so appreciated, thanks

 

[Pensar]

@57lp Welcome to UseThinkScript! Maybe try specifying the symbol for the fundamental functions, i.e. ReturnOnEquity(symbol = "SPY", fiscalperiod = fiscalperiod.year). Doing so removes the errors, have no idea if that would work for your purposes. Also, check if such functions even work in columns - I'm not certain if TOS allows fundamentals to be used there. I do know that portfolio functions can't be used in columns, so I wouldn't be surprised if fundamentals don't either.

 

[57lp]

@Pensar Thanks, I hardcoded a symbol in the script and that worked . That tells me the ReturnOnEquity and BookValuePerShare functions actually do work

phew, glad to know TOS has all those beautiful functions and they’re usable

All I need now is a proper way to reference the symbol on the current row as the script is processing . I’m starting to think getSymbol() doesn’t behave I think it should

 

[Pensar]

@57lp Yes, it works with hard-coding in the symbol. But the fact that it can't retrieve the specific symbol data for each column line makes me think that those functions are not meant to be used in columns.

 

[57lp]

@Pensar Grrrr - is that a bug - how else could I access the row’s current symbol?

 

[Pensar]

@57lp It isn't a bug. It seems to just be data that can only get accessed on a chart, not in a column. I think. I've tried to search for something more substantial than my suspicion, but this is all I can find - https://tlc.thinkorswim.com/center/reference/thinkScript/Functions/Stock-Fundamentals/ReturnOnEquity and https://tlc.thinkorswim.com/center/...unctions/Stock-Fundamentals/BookValuePerShare. The Thinkscript manual can be vague or missing information in some areas. Someone who has more experience with what can or can't be used in columns might be able to verify that.

 

[henry1224]

Declare Lower;
input symbol1 = "TYX";
Input Length = 63;
Input Length2 = 126;
def Return_On_Equity = if IsNaN(ReturnOnEquity())
                       then Return_On_Equity[1]
                       else ReturnOnEquity();
def BookValue = if IsNaN(BookValuePerShare())
                then BookValue[1]
                else BookValuePerShare();
Def Factor = Close(symbol1);
Def ROE_BV = (Return_On_Equity/Factor)*BookValue;
Def ROE_BV_A = ExpAverage(ROE_BV,Length);
Def ROE_BV_A2 = ExpAverage(ROE_BV,Length2);
Plot A = ROE_BV;
Plot B = ROE_BV_A;
Plot B2 = ROE_BV_A2;
A.setDefaultColor(Color.Cyan);
B.setDefaultColor(Color.Magenta);
B2.setdefaultColor(Color.Red);
AddCloud(A,B,Color.Cyan,Color.Magenta);
AddCloud(B,B2,Color.Magenta,Color.Red);
A.SetLineWeight(2);
B.setLineWeight(2);
B2.setLineWeight(2);

The code works when plotted on a chart, but I fail to see how this brings any value to my trading? I tried to use EMA's to smooth and show crossings? I'm still dumbfounded as to how to interpret this ?

 

[halcyonguy]

henrys study shows what code is needed for using the data on a chart. these functions only produce a value once in a few months or once a year. so you need a data source that goes back a year and once a valid number is read, it has to be passed on to the next bar.

ReturnOnEquity() , can be set to have a value as often as quarterly, 1 bar every 3 months.
BookValuePerShare() , can be set to have a value on 1 bar over a year.

i'm not sure if a scan study can find the most recent bar with a valid value, and then read the value itself?