# Reverse Split Scanner for ThinkorSwim

#### DonDelMuerte

##### New member
Finding reverse splits can be extremely important to a momentum trader, especially when a low float/low cap stock is looking to make an offering. Usually a reverse split is approved, then the press release PR is released to pump a stock - sometimes so the company can make an offering. Here is a study scan to look for recent reverse splits within the last 60 bars (daily for me):

Code:
``````def d = GetSplitDenominator();
def n = GetSplitNumerator();
rec d_r = if !isNaN(d) then d else d_r[1];
rec n_r = if !isNan(n) then n else n_r[1];
def o = GetEventOffset(Events.SPLIT,-1);

def cond1 = o <= 60;
def cond2 = d_r>n_r;

plot x = cond1 and cond2;``````

Whats interesting about the `GetSplitDenominator()` function is that it only returns a value on the day of the split. So we have to create a recursive variable that saves the previous split information. Also, placing -1 as an argument to `GetEventOffset()` returns previous splits. A positive 1 will return future splits.

I use this indicator, in conjunction with SEC filing data, to determine if a company is likely to pump a stock for offering (bearish) and if not (bullish).

Last edited by a moderator:
Also, placing -1 as an argument to GetEventOffset() returns previous splits. A positive 1 will return future splits.

I thought - was future and + was the past. Did this change in an update?

Also, placing -1 as an argument to GetEventOffset() returns previous splits. A positive 1 will return future splits.

I thought - was future and + was the past. Did this change in an update?

As per link:
If negative, defines number of a past event, otherwise, number of the upcoming one. Zero value corresponds to the closest upcoming event.
You may be thinking of the value that it returns. Which is opposite to the argument sign. Basically a positive argument returns negative bars (countdown to future event) while negative argument returns positive bars since last event.

Thanks maybe it works different for events vs. plots. I thought for a plot to look into future was a negative number.
Thanks for the info and link.

@DonMelMuerte Quick question, where in SEC do you see if they are doing an offering?

@DonMelMuerte Quick question, where in SEC do you see if they are doing an offering?

I use the SEC Edgar website and search for the name of the company (either ticker or full name), then look for a semi-recent S-3 form. The S-3 form will detail the registration of new shares. Then, I believe in a subsequent 10-K form you can see that an offering has become active. I usually do CTRL+F and search for "shelf" as a keyword to find details about active offerings.

hey guys, looking for a reverse split indicator that I can place on my 1Y 1D chart so that I know exactly when a stock has reverse split in the past, thanks!

Last edited:
Whats a PR? thanks in advance

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