Minervini Trend Template Screening and Relative Strength Indicator

Summary

This indicator turns Mark Minervini’s trend template into chart conditions for screening stocks. It checks whether price is above the 50-, 150-, and 200-day simple moving averages, whether those averages are properly ordered, and whether the 200-day average has been rising. It also compares price with its 52-week high and low. The display marks each condition separately and distinguishes a lighter qualification from versions that require all conditions or a longer-term average trend.

A separate relative-strength measure compares weighted recent daily returns with a user-selected reference index, giving the latest quarter extra weight. A crossover above the 20-day average can trigger a buy signal when the lighter template qualifies; alerts are also available for qualification changes and distance from the yearly low. The script is intended for daily charts and notes that its relative-strength calculation is one possible approach. It does not test profitability, define exits, or implement the book’s external relative-strength ranking criterion, so its signals are screening tools rather than a complete trading system.

Key ideas

• The template combines moving-average alignment and trend direction with price location relative to its 52-week range.
• A stricter variant requires the 200-day average to rise over a longer period.
• The relative-strength value compares weighted daily returns against a configurable reference index.
• A 20-day moving-average crossover can signal entry when the lighter qualification rules are met.
• The indicator provides screening conditions and alerts, but does not specify exits or demonstrate performance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.