Historical Earnings Trend Indicator for ThinkorSwim

[BenTen]

This indicator will display past earnings.
This can be beneficial for traders who use historical earnings data, to help identify trends, patterns, and potential risks as part of their investment decision.

• Red Squares = Earnings Lower
• Green Square = Earnings Higher
• Red Arrow = Earnings below estimates
• Green Arrow = Earnings above estimates
• Point of Arrow = Earnings estimates

Another great share by @KRose_TDA on Twitter.

thinkScript Code

#Follow @KRose_TDA on twitter for free updates posted for this and other scripts
#Earnings trend study is used as part of the generating income with dividend stocks webcast presented Monday nights @ 7PM ET   https://events.thinkorswim.com/#/webcast
# I build custom studies like earnings trend as part of my Thursday night thinkscript webinar @ 5:30PM ET
#     https://events.thinkorswim.com/#/webcast
#This study creates a line chart tracking the trend of a stock's quarterly EPS values(it doesn't work for ETFs).A red square appears when Earnings Per Share(EPS)is lower than the prior quarter's EPS, and a dark green square appears when EPS is higher than the previous quarter's EPS. The arrows represent a comparison of an analyst's estimated EPS for that quarter versus the actual EPS. If the arrow is colored Green, the company's actual EPS was greater than the analyst estimates. If the actual EPS was less than the analyst estimates, the arrow will be Red. The point of the arrow equals analyst estimate value.

declare lower;
declare Hide_on_intraday;

def EPS = if !isNaN(GetActualEarnings()) then GetActualEarnings() else EPS[1];

plot EPS_line_chart = GetActualEarnings();
EPS_line_chart.EnableApproximation();
EPS_line_chart.SetDefaultColor(color.black);

plot earnings_date = GetActualEarnings();
earnings_date.SetPaintingStrategy(PaintingStrategy.squares);

earnings_date.AssignValueColor(if EPS > EPS[1] then color.dark_green else color.red);
earnings_date.SetLineWeight(5);

plot EstEarning = GetEstimatedEarnings();
EstEarning.SetPaintingStrategy(PaintingStrategy.arrow_up );

EstEarning.AssignValueColor (if EstEarning < EPS then color.DARK_GREEN else color.DARK_RED);
EstEarning.SetLineWeight(5);

# end code

Shareable Link

https://tos.mx/gt605c

 

[Orios]

side bar. can someone help add a custom filter in a column that shows when an earnings date is for a company. from work im only able to use mobile but havent found a filter for earnings dates

 

[BenTen]

@Orios Try this https://usethinkscript.com/threads/next-earning-date-indicator-for-thinkorswim.390/post-11194

 

[soary]

NICE! This is very useful.
Good idea Orios but not just historical price performance post earnings but also a certain % move up/down

TOS has something similar but without %
TOS ->analyze tab->earnings shows next earnings date on top->volatility implied & historical, ATM straddle move, EPS comparison of actual vs wall street in trend lines

 

[Orios]

NICE! This is very useful.
Good idea Orios but not just historical price performance post earnings but also a certain % move up/down

You can figure that out using options usually the stays in the expected range. A rough estimate is taking the 15 Delta put and call adding them together. Then from current price plus or minus. I have an Excel sheet that does it with the actual calculation but yeah as long as you know standard deviation based on options it tends to stay in that range 68.2% of the time. For earnings the hardest part is knowing probable direction especially if you want to flip money fast. Like right now I could do just 13 Delta iron condors roughly a month out and still win roughly 70 to 80% of the time. But if I knew the usual direction poster earnings I skew bets towards usual outcomes and have the ability to free up capital sooner

 

[soary]

You can figure that out using options usually the stays in the expected range. A rough estimate is taking the 15 Delta put and call adding them together. Then from current price plus or minus. I have an Excel sheet that does it with the actual calculation but yeah as long as you know standard deviation based on options it tends to stay in that range 68.2% of the time. For earnings the hardest part is knowing probable direction especially if you want to flip money fast. Like right now I could do just 13 Delta iron condors roughly a month out and still win roughly 70 to 80% of the time. But if I knew the usual direction poster earnings I skew bets towards usual outcomes and have the ability to free up capital sooner

I like using Excell what is the formula? I;m guessing you're talking about expected move.

 

[Orios]

I like using Excell what is the formula? I;m guessing you're talking about expected move.

Candle open price of aggregation period * options IV of stonk /100 * sqroot(days to expiration/365)

That's the basic formula

 

[J007RMC]

This is an upper chart earnings, estimated, actual, percent gain/loss indicator

def price = close;
def estimate = GetEstimatedEarnings();
def actual = GetActualearnings();
def get_price = if estimate and actual then price else get_price[1];
def gain = (actual – estimate);
AddChartBubble(estimate,close, “Est: ” + estimate + “\nAct: ” + actual + (if gain <= 0 then "\nLoss: " else “\nGain: ”) + gain, if actual <= estimate then CreateColor(247, 25, 91) else CreateColor(25, 202, 247));

 

[wilmanv]

Any script to show the date for Earnings on the chart , that show me highlighted

Thanks

 

[Craighaber71]

If You hit the gear Icon on the chart....Go to the equities tab...check the show corp actions

 

[beh0211]

Inspired by this post, I am creating a similar indicator but it show EPS growth comparing to the same quarter last year.

It may not looks good but it is working

#Only works in weekly chart

declare lower;

def EPS = if !isNaN(GetActualEarnings()) then GetActualEarnings() else EPS[1];

def EPSGrowthYoY = if !isNaN(GetActualEarnings()) then round(100*(EPS - EPS[52])/AbsValue(EPS[52]), numberOfDigits = 0) else EPSGrowthYoY[1];

plot pEPSGrowthYoY = EPSGrowthYoY;
pEPSGrowthYoY.SetDefaultColor(color.blue);

plot pZero = 0;
pZero.setDefaultColor(Color.dARK_GRAY);
pzero.setLineWeight(3);

AddLabel(yes, if EPSGrowthYoY!=0 then "EPSGrowthYoY% = " + EPSGrowthYoY+"%" else "EPSGrowthYoY% = " + EPSGrowthYoY + "%", color = Color.Blue);

# end code

 

[8Nick8]

@J007RMC @BenTen

Thanks for your sharing. I have tried to use the two scripts shared and modify it to only show the Gain and the difference of earnings by each quarter in % in each bubble. I couldn't find the reference to get the previous earnings for comparison.
May I request some assistance here.
The % change in earnings per quarter is calculated by (current earnings - previous earnings ) divided by previous earnings
If current quarter earning is higher that prev quarter = Green bubble
if current quarter is lower than prev quarter = Red bubble

Thank you

def price = close;
def estimate = GetEstimatedEarnings();
def actual = GetActualearnings();
def get_price = if estimate and actual then price else get_price[1];
def gain = (actual – estimate);
AddChartBubble(estimate,close, “Est: ” + estimate + “\nAct: ” + actual + (if gain <= 0 then "\nLoss: " else “\nGain: ”) + gain, if actual <= estimate then CreateColor(247, 25, 91) else CreateColor(25, 202, 247));

 

[ReyHak]

Hi,
I like to add a few columns for the past few quarters/years of actual EPS, how can I do this please?

 

[BenTen]

@ReyHak Try this thread https://usethinkscript.com/threads/thinkorswim-indicators-for-basic-fundamental-analysis.866/

Or this one:

#
# Copyright 2019 Scott J. Johnson (https://scottjjohnson.com)
#
# Licensed under the Apache License, Version 2.0 (the "License");
# you may not use this file except in compliance with the License.
# You may obtain a copy of the License at
#
#      http://www.apache.org/licenses/LICENSE-2.0
#
# Unless required by applicable law or agreed to in writing, software
# distributed under the License is distributed on an "AS-IS" BASIS,
# WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
# See the License for the specific language governing permissions and
# limitations under the License.
#

#
# EarningsPerShare
#
# Displays the company's earnings per share over the time period. If overlaying
# this study on a price graph, right click the line and select "Use left axis"
# to adjust the scale.
#
declare upper;

plot Data = getActualEarnings();
Data.SetPaintingStrategy(PaintingStrategy.LINE);
Data.SetLineWeight(2);
Data.SetDefaultColor(Color.LIGHT_ORANGE);
Data.EnableApproximation();

 

[petech]

I combined the scripts from the first post and the script from another post in this same thread, and then I made some tweaks. How do I add to the bubble to calculate the percentage change in EPS from the prior quarter? I am aware of the syntax of "FiscalPeriod.QUARTER" but I don't now how to use it. I don't really know how to code either. I edited the script by doing a lot of guessing and googling.

#Follow @KRose_TDA on twitter for free updates posted for this and other scripts
#Earnings trend study is used as part of the generating income with dividend stocks webcast presented Monday nights @ 7PM ET   https://events.thinkorswim.com/#/webcast
# I build custom studies like earnings trend as part of my Thursday night thinkscript webinar @ 5:30PM ET
#     https://events.thinkorswim.com/#/webcast
#This study creates a line chart tracking the trend of a stock's quarterly EPS values(it doesn't work for ETFs).A red square appears when Earnings Per Share(EPS)is lower than the prior quarter's EPS, and a dark green square appears when EPS is higher than the previous quarter's EPS. The arrows represent a comparison of an analyst's estimated EPS for that quarter versus the actual EPS. If the arrow is colored Green, the company's actual EPS was greater than the analyst estimates. If the actual EPS was less than the analyst estimates, the arrow will be Red. The point of the arrow equals analyst estimate value.

declare lower;
declare Hide_on_intraday;

def EPS = if !isNaN(GetActualEarnings()) then GetActualEarnings() else EPS[1];

plot EPS_line_chart = GetActualEarnings();
EPS_line_chart.EnableApproximation();
EPS_line_chart.SetDefaultColor(color.orange);

plot earnings_date = GetActualEarnings();
earnings_date.SetPaintingStrategy(PaintingStrategy.squares);

earnings_date.AssignValueColor(if EPS > EPS[1] then color.dark_green else color.red);
earnings_date.SetLineWeight(5);

plot EstEarning = GetEstimatedEarnings();
EstEarning.SetPaintingStrategy(PaintingStrategy.arrow_up );

EstEarning.AssignValueColor (if EstEarning < EPS then color.DARK_GREEN else color.DARK_RED);
EstEarning.SetLineWeight(5);


### This part added by coping and pasting someone else's script
DefineGlobalColor(“lime”, Color.lime);
def price = close;
def estimate = GetEstimatedEarnings();
def actual = GetActualearnings();
def get_price = if estimate and actual then price else get_price[1];
def gain = (actual – estimate);
AddChartBubble(actual,actual, “EPS: ” + actual, GlobalColor(“lime”));
# end code

 

[mbrennan5]

Here's what I've been using to scan for 0-4 consecutive quarters increasing EPS:

#Increasing Earnings Scan #v2.28.14.1
#Scan for earnings > previous quarter earnings

input times_up = 2;
 def gae = GetActualEarnings();
rec ern = if(!isNaN(gae), gae, ern[1]);

#if there are never any earnings this will always = Double.NaN
#Now to determine if earnings are increasing enough times in a row we need to count every time they increase. If earnings are < prior quarter, we'll reset the count to 0.
#CompoundValue is used to make sure the count initializes with a number: 0 in this case. If it starts with Double.NaN, it may not work.
#start this on the first bar: (CompoundValue(1,
#if earnings are reported: if(!isNaN(gae),
#then if earnings are greater than the prior earnings value: if(ern > ern[1],
#count it by adding 1 to the previous count: ern_up[1] + 1,
#else set the count to 0: 0),
#else (if earnings aren't reported) keep the previous count value: ern_up[1]),
#intialize the value of the variable to 0: 0);

rec ern_up = CompoundValue(1, if(!isNaN(gae), if(ern > ern[1], ern_up[1] + 1, 0), ern_up[1]), 0);
plot x =  ern_up >= times_up ;

 

[DLCjr]

Can someone modify this script to include a label that gives you the avg percentage miss/beat of all earnings shown in your chart? i.e. (total gains + losses / number of reports) * 100. I tried and failed.

 

[jaricarr]

I combined the scripts from the first post and the script from another post in this same thread, and then I made some tweaks. How do I add to the bubble to calculate the percentage change in EPS from the prior quarter? I am aware of the syntax of "FiscalPeriod.QUARTER" but I don't now how to use it. I don't really know how to code either. I edited the script by doing a lot of guessing and googling.

#Follow @KRose_TDA on twitter for free updates posted for this and other scripts
#Earnings trend study is used as part of the generating income with dividend stocks webcast presented Monday nights @ 7PM ET   https://events.thinkorswim.com/#/webcast
# I build custom studies like earnings trend as part of my Thursday night thinkscript webinar @ 5:30PM ET
#     https://events.thinkorswim.com/#/webcast
#This study creates a line chart tracking the trend of a stock's quarterly EPS values(it doesn't work for ETFs).A red square appears when Earnings Per Share(EPS)is lower than the prior quarter's EPS, and a dark green square appears when EPS is higher than the previous quarter's EPS. The arrows represent a comparison of an analyst's estimated EPS for that quarter versus the actual EPS. If the arrow is colored Green, the company's actual EPS was greater than the analyst estimates. If the actual EPS was less than the analyst estimates, the arrow will be Red. The point of the arrow equals analyst estimate value.

declare lower;
declare Hide_on_intraday;

def EPS = if !isNaN(GetActualEarnings()) then GetActualEarnings() else EPS[1];

plot EPS_line_chart = GetActualEarnings();
EPS_line_chart.EnableApproximation();
EPS_line_chart.SetDefaultColor(color.orange);

plot earnings_date = GetActualEarnings();
earnings_date.SetPaintingStrategy(PaintingStrategy.squares);

earnings_date.AssignValueColor(if EPS > EPS[1] then color.dark_green else color.red);
earnings_date.SetLineWeight(5);

plot EstEarning = GetEstimatedEarnings();
EstEarning.SetPaintingStrategy(PaintingStrategy.arrow_up );

EstEarning.AssignValueColor (if EstEarning < EPS then color.DARK_GREEN else color.DARK_RED);
EstEarning.SetLineWeight(5);


### This part added by coping and pasting someone else's script
DefineGlobalColor(“lime”, Color.lime);
def price = close;
def estimate = GetEstimatedEarnings();
def actual = GetActualearnings();
def get_price = if estimate and actual then price else get_price[1];
def gain = (actual – estimate);
AddChartBubble(actual,actual, “EPS: ” + actual, GlobalColor(“lime”));
# end code

Hello and thanks so much for this code. Is it possible to add historical dividends to this code ? Perhaps plotting circles

 

[MerryDay]

Hello and thanks so much for this code. Is it possible to add historical dividends to this code ? Perhaps plotting circles

I am not sure what a plotting circle is.
But this thread contains the syntax for collecting the historical dividends perhaps you can utilize it for your quest:
https://usethinkscript.com/threads/earnings-dividend-and-p-e-labels-for-thinkorswim.1357/

 

[Jazflyer]

I am looking to see only the yearly EPS. Is there a function that I can use in the code to plot that? I tried EarningsPerShare TTM but that plotted too many data points. I am trying to only connect total yearly earings (one point per year).Thanks