CANSLIM Screener

The CANSLIM Screener indicator is a multi-factor analysis tool that identifies growth stocks based on the seven critical criteria of the CANSLIM investment strategy. It provides a comprehensive dashboard to assess quarterly and annual earnings growth, institutional interest, and market leadership relative to major indices.

Usage

The indicator displays a table on the chart evaluating stocks against the following seven criteria:

• C (Current Quarterly Earnings): Monitors EPS or PE growth in the most recent quarter compared to previous periods.
• A (Annual Earnings Growth): Evaluates the average annual EPS growth over the last three years to identify sustainable profitability.
• N (New Highs/Products): Tracks price momentum or Research & Development to Revenue ratios to identify innovation.
• S (Supply and Demand): Analyzes Float Shares Outstanding to gauge buying pressure.
• L (Leader): Compares the stock's Relative Strength Index (RSI) against a benchmark index (e.g., VNINDEX) to distinguish leaders from laggards.
• I (Institutional Sponsorship): Measures institutional confidence via dividend payout trends.
• M (Market Direction): Assesses the broader trend using RSI Moving Averages or Smart Money Concept structures.

A total score out of 100% is calculated; generally, a score above 70% (5 out of 7 criteria met) indicates a high-potential growth stock.

Details

This implementation automates the data collection for fundamental and technical metrics required for the O'Neil CANSLIM methodology. It utilizes request.financial() to fetch earnings and share data and comparative price analysis for relative strength. The "Market Direction" component can be toggled between RSI analysis and Internal/Swing market structures for more advanced trend filtering.

Settings

Canslim Setup

• Quarter Growth Option: Choose between PE or EPS for quarterly evaluation.
• Quarter Growth Benchmark: The percentage threshold required to pass the 'C' criterion.
• Annual Growth EPS: The minimum average annual EPS growth required.
• New Option: Toggle between 'Highs' (price-based) or 'Products' (R&D-based metrics).
• Supply & Demand: Select the share metric for volume/float analysis.
• Index: The benchmark symbol used for comparative relative strength (e.g., SPX, VNINDEX).
• Market Structure: Select the trend detection method (RSI or SMC-based structures).

Symbol

• Chart/Insert Option: Choose to analyze the current chart symbol or a manually entered ticker.
• Symbol Selection: Enable or disable specific tickers for the multi-asset screening table.

FAQ

How do I access the CANSLIM Screener?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

What is a "good" score on this indicator?

While users can customize benchmarks, traditionally a score of 70% or higher suggests a stock aligns well with historical growth patterns.

Can I screen multiple stocks at once?

Yes, the indicator includes a screening feature in the settings that allows you to input and evaluate multiple symbols simultaneously in the table.