21 FREE Fundamentals You Need For ThinkorSwim | Custom Thinkscript for ThinkorSwim

Despite Thinkerswim being a platform mainly geared towards active traders

it still has at least some financial data that we can then use and hopefully make better decisions about our investments

So today we're going to be diving into a custom script to display 21 different financial

ratios directly on our chart. Now, the 21 custom labels that we'll be adding in today's video

could actually be added individually. However, today I've actually got them all wrapped up into a single script

In my case, I of course already have it loaded into my own thinkersome platform

but for you to add it for yourselves, you will simply need to go down to the link down below this video

And clicking that will actually take you directly to my website, where we can see the full written script right here

which you could then copy and then load into your own platform. But to make things easier on yourself

I would probably just recommend you come up here above where you can see a little HTTP link

and all you have to do is copy that link. So we'll go ahead and right click on it, then hit copy

We can then head back over to the Thinkerson platform and open it as a shared item

And to do that, we would simply come up here to the setup menu, then come down here below and select Open Shared Item

That'll create a little open shared item pop-up window over here on the left

where we will simply click in this little search box and hit Control V to paste in that link

Then coming over here to the right, we can actually preview the script. You can see right here it is called the Fund

and you can see who sent it to you, short the strike. And then the final thing to do is just come down here below and hit import

which will then load it directly into your platform. Now in my case I already have it so I just going to come over here and hit cancel And now to see it on our charts we would simply come up here to the very top to the studies icon Then within this little studies or strategies window we going to go ahead and search for it with this little search box right at the top here

Unless you change the name, it's going to be under the exact same name that I gave it, which is just fundamentals

And actually, we can see it right down here below. And then in order to add it, we are simply going to click on it

Then hit add selected in the lower left hand corner. We can then see over here on the right-hand side, it has been added as an upper study

meaning it's actually going to display right on top of our chart. So we're going to see it right in the top left-hand corner right above the actual price of the underline

But now to actually see what that's going to look like, let's just come down here below to the lower right-hand corner and hit OK

What you'll then immediately notice is that right up here at the very top of our chart

we've got a bunch of different labels up here. That'll include the PE ratio, the earn

earnings per share, the free cash flow per share, the gross profit margin, the dividend yield

and the overall score for the company. Now, besides just displaying the data itself, you'll also know

that it is color-coded as well. Now, generally, if the label is a reddish pink color, we're not

too happy with the value that we're seeing inside of there, whereas the gray is going to show us

that we're much more neutral on the figure being displayed. But then if it is instead a light green

color, it's good, but not as good as it could be, which is where we would see the dark green

come in handy. And then finally, which we can't see here every once in a while, you may also

see a dark blue background as well, which kind of depends on the metric itself, whether

it a good thing or a bad thing Now if you ever decide to actually read through the code itself you can see what each one of those color changes mean and you could change that if you wanted to or even just change the color itself And obviously if we to flip this stock symbol to something else

like if we came up here to the upper left-hand corner and were to throw in Apple up here instead

AAPL, we can now see that all of those informational labels have been adjusted down here below

and are now specifically showing us the financial ratios for Apple. But looking up here, there are currently only five metrics

metrics visible plus the overall score. But remembering back for a second, if you remember

I did tell you we'd be adding 21 separate metrics to this chart

And currently, if we look here, there are only currently five plus the overall score

Now, we did actually load 21 separate financial ratios in this script

However, if you were to read through it, I actually set a bunch of those scripts to default to not visible unless we manually turn them on

For me personally, having 21 labels up here can be a little bit distracting

so for you to manually flip those other labels on, we will simply need to head back up here to the Studies icon

Coming back down below and finding the Fundamental Study right here, we can then open up the Settings menu by coming over here to the right

and clicking on the little gear icon. Coming over here to the left hand side

we can actually see all of the different labels that are preloaded into this script

So here on the left it shows display PE, display earnings per share, display free cash flow

and then over here on the right is a little toggle where you can flip it either to yes

which means I want to display it or no meaning I don't want to display it

If we actually wanted to turn on a few more of these financial ratios, let just go through and turn on a few more just so we can see a few more of them on the chart So I just flipping a bunch of these on to yes randomly And if I were to scroll through here you see there are actually quite a few of them Like we said there 21 of them on the chart I just flipping a bunch of these on to yes randomly And if I were to scroll through here you see there are actually quite a few of them Like we said there 21 of them But now that I turned a few more to yes we now come down here below and hit OK in the

lower right hand corner, then come over here and hit OK one more time. Coming back up here to the

top, you can now see there are a bunch more labels now added to our chart up here. All of which

pretty much speak for themselves. They're just labels displaying whatever that financial ratio happens

to be. The only one that might not stand out here is the one called score. Now, that financial

score is essentially just looking at all of these financial metrics, assigning a score based on that

and then adding them all up together. So then depending on the score that then pops out

we can then try and get a quick look at the overall financial well-being or stability of the

company. Now, I'll admit I didn't make this score myself. It originally actually came from

Trade Station, so please do your own digging into whether or not this actually makes sense for you

but it can be adjusted if you want to just going into the script itself

But essentially as it sits right now, the higher the score, the better. It'll be specifically scoring the company based on things like price to earnings

free cash flow, profit margin, sales, debt to assets, and overall leverage

The absolute lowest score being zero and the absolute highest being 15

But based on that number, it is definitely not a hard and fast rule on whether this is a good company or a bad company

it's fairly basic. But again, this custom script is a fantastic way to display some really important

fundamental data about that company you're about to trade, and hopefully you end up finding it

useful as well. I have made many other videos on Thinkersim at this point, so consider checking

this one out next, you might find it helpful as well. Otherwise, have a great rush your week

and I'll catch you on the next one