NSE/BSE Straddle/Strangle Candle Chart

Straddle Candlestick Strategy Indicator

This custom Pine Script indicator is designed to visualize the price action of options using a candlestick chart for Nifty, BankNifty, FINNIFTY, and Midcap indices. It combines Call and Put options for multiple strikes around the underlying asset, creating a detailed view of market movement in a straddle strategy.

Key Features:
Candlestick Visualization: The indicator plots candlestick charts based on the combined price action of both Call and Put options, helping traders analyze price trends for different strikes.
Multi-Strike Options Analysis: It dynamically calculates and plots strike prices above and below the At-the-Money (ATM) strike, offering a comprehensive look at potential price movement across various strike levels.
Customizable Inputs: Users can adjust the strike interval, choose between different index symbols, and customize the appearance of the indicator (e.g., font size, table layout, and color themes).
User-Friendly Dashboard: A clear, customizable dashboard presents the strike price data, along with essential candlestick details, to help users understand the overall market trends at a glance.
Use Case:
This indicator is ideal for traders using straddle strategies on NSE options. It gives users a clear and intuitive visual representation of price action around the ATM strike, helping traders make informed decisions based on the options' movement.

Notes:
The VWAP (Volume-Weighted Average Price) is included for added insight, allowing traders to identify market direction and trends more effectively.
Focused on candlestick price action analysis, without including unnecessary indicators like RSI, Supertrend, or MA.
Perfect for options traders seeking clarity in price movement for better trade execution.