How to Backtest Yourself
All screens were created and backtested using StockScreen123, an outstanding service if you are serious about creating strategies and testing ideas.
Quick Screen Summary
The Altman Z score formula is used in predicting bankruptcy up to two years in advance.
The screen identifies companies with an Altman Z score above 3 as it is deemed safe if the Z score is above 2.6.
Altman Z Score = 1.2*X1 + 1.4*X2 + 3.3*X3 + 0.6*X4 + 1.0*X5
Read more: Altman Z score screener backtest