This indicator summarizes many of famous trader Mark Minervini's investment criteria into one (hopefully) easy to read indicator.
It is comprised of two general sections: technical and fundamental.
Within the technical section there are 4/5 groups:
(1) Price location (above SMA 50/150/200). Optional: EMA 21 (2) SMAs sequence (SMA 50 above SMA 150 above SMA 200). Optional: EMA 21 (3) SMAs trending, based on a 21 day lookback (adjustable). Optional: EMA 21 (4) Price range (between 25% above 52W low and 25% below 52W high, adjustable) (5) Optional: Relative Strength (MarketSmith style) in comparison to the SPY (adjustable). Disabled by default, since I personally don't find it very meaningful.
Within the fundamental section there are three groups:
(1) EPS growth over 4 quarters (adjustable), average growth over before mentioned number of quarters, growth acceleration over the same (2) Revenue, same as for EPS (3) Net Profit Margin, same as for EPS
There is a "LED" in front of every criterion. If fulfilled it's green, otherwise red. The horizontal "LED strips" summarize the results in a sorted manner, from left to right: green, yellow, red.
The indicator also plots the (EMA 21)/SMA 50/150/200 lines used by Minervini by default (can be disabled). The location on the screen can be chosen, as well as the text size. By default the 52W high/low lines are plotted as well (can be disabled).
Notes: Although the calculations and values displayed at the right border are based on internally retrieved daily price data and should therefore be independent from the chart's time frame, at times some figures change when a different timeframe is selected.
On rare occasions the indicator is not displayed, but appears after reloading the chart.
Nice script! Can we create a stock screener based on it?
gehteha
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@robert70710, in general, there is no access to the TV screener from pine script. This would open a whole new world.
JMM46
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Will this work for the Weekly charts?
gehteha
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@JMM46, it is not supposed to. Minervini bases this method on the daily chart.
shrsha85
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Is the Eps q/q growth correct? For instance shift4 as of May 11, 2024 shows 4/4 eps q/q growth but quarter over quarter it only increased 2 out of the last 4 quarters. Not clear how you are calculating this?
Seems to be really good for filtering stocks on broad criteria.
Dheeraj_Murali
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@gehteha Could you please explain the EPS growth over 4 quarters? is it growth with respect to EPS reported over same Quarter year before or is the growth over previous 4 quarters?
gehteha
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@Dheeraj_Murali, it is the EPS growth from one quarter to the next.