Dividend Yield Pro Indicator for ThinkorSwim

The free version colors its label against a threshold you pick, and I found that number arbitrary. The Pro version compares the yield with its own levels instead. The Mid label turns light green above the midpoint yield, the 200-SMA label above the 200-bar average, and the main label only when the yield is above both.

The midpoint is the lowest yield on the chart plus half the distance between the lowest and the highest yield. HighestAll and LowestAll read every loaded bar, so the midpoint covers whatever history you load. In the video, PMT's midpoint over 5 years was 18.71%, above its current 11.83% yield.

They split the yield range into 4 equal parts. The upper quadrant line sits halfway between the midpoint and the highest yield, and the lower quadrant line halfway between the lowest yield and the midpoint. Today's yield falls into one of the 4 baskets. In the Part 1 preview, Verizon's 7.48% was in the top one.

It sums the dividends paid over the last 252 daily bars, reads the same sum 253 bars earlier for the year before, and divides the difference by the earlier year's total. The YoY label is light green for 0 or more and pink for a decline. In the video, PMT's YoY growth was negative 0.53%.

The main label needs 2 things to turn light green: a yield above its 200-bar average and above the midpoint of its range. If either fails, it's yellow. In the video, PMT's 11.83% was above its 200 SMA of 11.79% and below its midpoint of 18.71%, so the label was yellow.

Set showSMA to yes in the study settings. It's off by default to keep the pane clean. The 200-SMA label and the label colors use the average even when the line is hidden, because the code keeps the calculation in a def variable, separate from the plot.

I used 5 years of daily data in the video. The range lines and the midpoint use every loaded bar, so 20 years or the max setting widens the range. The YoY reading needs about 2 years of daily bars, since it compares the last 252 bars with the 252 before them.

No. Like the free version, it reads GetDividend(), which only has dividend data on a daily time frame, and its Assert line stops the study on any other chart. Load it on a daily chart. On other time frames, click the exclamation mark to see the message.