MarketSurge EPS Line [tradeviZion]

MarketSurge EPS Line [tradeviZion]

EPS trend line overlay for TradingView charts, inspired by the IBD MarketSurge (formerly MarketSmith) EPS line style.



Comparison: Left side shows IBD MarketSurge EPS line as reference. Right side shows this TradingView script producing similar output with interactive tooltips. The left side image is for reference only to demonstrate similarity - it is not part of the TradingView script.

Features:

• Displays EPS trend line on price charts
  
• Uses 4-quarter earnings moving average
  
• Shows earnings momentum over time
  
• Works with actual, estimated, or standardized earnings data
  
• Customizable line color and width
  
• Interactive tooltips with detailed earnings information
  
• Custom symbol analysis support
  

How to Use:

1. Add script to chart
   
2. EPS line appears automatically
   
3. Adjust color and width in settings if needed
   
4. Hover over line for earnings details
   

Settings Explained:

Display Settings:

• Show EPS Line: Toggle to show or hide the EPS trend line
  
• EPS Line Color: Choose the color for the EPS trend line and labels
  
• EPS Line Width: Adjust the thickness of the EPS trend line (1-5 pixels)
  

Symbol Settings:

By default, the indicator analyzes the EPS data for the symbol currently displayed on your chart. The Custom Symbol feature allows you to:

• Analyze EPS data for a different symbol without changing your chart
  
• Compare earnings trends of related stocks or competitors
  
• View EPS data for one symbol while analyzing price action of another
  

To use Custom Symbol:

1. Enable "Use Custom Symbol" checkbox
   
2. Click on "Custom Symbol" field to open TradingView's symbol picker
   
3. Search and select the symbol you want to analyze
   
4. The indicator will fetch and display EPS data for the selected symbol
   

Note: The chart will still show price action for your current symbol, but the EPS line will reflect the custom symbol's earnings data.

Data Settings:

EPS Field: Choose which earnings data source to use:

• Actual Earnings: Reported earnings from company financial statements (default). Use this to analyze historical performance based on what companies actually reported.
  
• Estimated Earnings: Analyst consensus forecasts for future quarters. Use this to see what analysts expect and compare expectations with actual results.
  
• Standardized Earnings: Earnings adjusted for comparability across companies. Use this when comparing multiple stocks as it normalizes accounting differences.
  

Display Scale:

For the indicator to display correctly on the existing chart, it uses its own axis (right scale) by default. However, you can change this, but the view will not look the same. The right scale is recommended for optimal visibility as it allows the EPS line to be clearly visible alongside price action without compression.



Example: EPS line on separate right scale (recommended) - hover over labels to view detailed earnings tooltips



Example: EPS line pinned to Scale A (not recommended - appears as straight line due to small EPS range compared to price)



Example: EPS line displayed in separate pane below price chart

Methodology Credits:

This indicator implements the EPS line visualization methodology developed by Investor's Business Daily (IBD) for their MarketSurge platform (formerly known as MarketSmith). The EPS line concept helps visualize earnings momentum alongside price action, providing a fundamental overlay for technical analysis.

Technical Details:

• Designed for daily, weekly, and monthly timeframes
  
• Minimum 4 quarters of earnings data required
  
• Uses TradingView's built-in earnings data
  
• Automatically handles missing or invalid data
  

This indicator helps you visualize earnings trends alongside price action, providing a fundamental overlay for your technical analysis.