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CANSLIM

Hi all, does anybody know how to set these scan criteria below (CANSLIM) correctly for Stockcharts Syntax ?
thanks

Current Earnings – EPS (MRQ) >= 1.18* EPS [Q4]
Annual Earning – EPS 5-Year Average (%) > 24.9
New Price High – Price vs. 52-week high (%) >84
Supply – Shares Available (Millions) > 9
Leader – Relative Strength Index > 69
Institutional Ownership % > 35
Market Direction – Is the Market Trend Up?

Comments

  • markdmarkd mod
    edited September 25
    As far as I know, most of those data points are not available in the scan database (it's meant to find technical, not fundamental data). Check the drop downs on the scan workbench page to see what IS available. You can get current EPS, but not prior EPS, or averages of EPS. You could get new price high or per cent of new price high [close > max(251, high) * .84]. Supply would be outstanding shares, probably. Institutional ownership is not available. Relative Strength would probably correspond more or less to SCTR (I think the CANSLIM version of relative strength applies to their own proprietary measure, not the RSI indicator or Price Performance indicator on Stockcharts, or the SCTR indicator).
    Market direction you could determine from testing the direction of the 200 MA.

    Note that a list of high SCTR rank stocks with enough outstanding shares is likely to overlap considerably with CANSLIM criteria. Then you could cross-check that list with fundamental data on finviz.



  • thank you very much for your reply. The Stockcharts scanner is not very user-friendly imho. Very difficult for people that are not tech affin.
  • I found that using the predefined scans gave me a great starting point for a scan was a great way to "learn" to use the scanner. When you open a Predefined Scan, in the upper right there is a link that says Click here to edit this scan.

    Click there and it will open the scan workbench with the code for that scan in the workbench. You can modify the code there to meet your needs, even combining code snippets from several scans into YOUR scan. You can then save that new code giving it a name you chose and then can run it/ change it/ delete it at your pleasure.

    Predefined Scans are located in your Member Tools pane and also can be accessed by the Charts & Tools link at the top of the StockCharts.com page.
  • Excellent suggestion from @lmkwin . I would just add, it's important not to be intimidated by the word "code". From what I've seen, the Stockcharts scan engine is probably the easiest to learn for non-programmers (compared to say, TOS). And once, you pick things up, per lmkwin's method, it can be very flexible. If you can express your logic in plain English, you can do it in "code" with a little practice. There is a learning curve, but that's true of anything new. I think your efforts will be well rewarded.

    All that said, we are here to guide you when you get stuck on something. Post what you would like to do in plain english, and what you have come up with so far in code, and we'll help you work it out.

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