11/01/2021 |

Software Update: Scanning and Checklists with Analyst Opinions

Hello Everyone, and welcome to another software update! In this update, we provide a new capability to the Market Scanner and Smart Checklists: the ability to utilize analyst estimates in your conditions.

You can now use conditions around Analyst Opinions and Recommendations in the TrendSpider Market Scanner as well as TrendSpider Smart Checklists.

How to add Analyst Estimates to a TrendSpider Market Scanner

  1. First, create a New Scanner.
  2. Click on “Add Parameter Here”
  3. Select “Condition”
  4. Select “Analyst estimates”
  5. Choose your criterion from the options presented
    1. X days ago
      1. If you select this option, you will be prompted to input an integer that represents the number of days ago
    2. Within last X days
      1. If you select this option, you will be prompted to enter an integer that represents the window of time you wish to look within
    3. Today
  6. Now, you may customize the specifics of the Analyst Estimates you wish to include
    1. Click on the title of the line item for the Analyst Estimates condition (e.g. it will say “Analyst Estimates (any analyst, any action, any rank)”)
    2. In the popup window that appears, you may customize the specifics of the condition
      1. The first menu, titled “Analyst” will allow you to select a specific Analyst who you wish to filter for, by name.
      2. The second menu, titled “Action” will allow you to select what type of Analyst Estimate you wish to include in your criteria. The options here include: Any, Upgrade, Downgrade, Confirmation and Initiation.
      3. The last menu, titled “New rank” will allow you to select a normalized “bias” or “opinion” of an Analyst Estimate. Your options here will include: Any, Buy, Hold and Sell.
  7. Add any other conditions you want to add to your scanner.
  8. That’s it! Enjoy.

How to use Analyst Estimates in a Smart Checklist

  1. Click on “Scripts” in the Top Toolbar
  2. Click on the “Add New” button to create a new script
  3. Configure your conditions in the same way that you would in the market scanner starting with the “Add Parameter Here” link.
  4. Save the Script
  5. Add the Smart Checklist Widget to your Side Bar
  6. Select the Script you just saved
  7. That’s it! Enjoy.

Pre-Made Scanners Configurations

We have developed three example Market Scanners that utilize this functionality for you to build upon and learn from. They can be found quickly by using the search box to the extreme left of your dashboard with the Market Scanner selected and typing “analyst”.

  • Analyst Upgrade + Price Goes Up
    This scanner looks for stocks in the Russell 2000 where the following is true: Any Wall St. Analyst upgraded the stock within the last 10 days, AND price has increased a total of 10% over the last 10 days (since the upgrade.) Meaning, in the short term, the analyst has been proven correct.

  • Analyst Downgrade + Price Goes Up Anyway
    This scanner is almost identical to the previous example, except it looks for where analysts were wrong. The analyst became more bearish in their assessment, but price moved 10% higher anyway in the following 10 trading periods (since the downgrade.) Meaning, in the short term, the analyst has been proven incorrect.

  • Names with Recent Analyst Actions
    This scanner is designed to find any stock listed in the S&P 500 where there has been an Analyst Action of any kind within the last 24 hours.

All of these example scanners are in your account. We hope that you find them informative and they help you learn how to use this powerful new capability.

Stay tuned for more software updates in the near future!