0DTE Credit Spreads Indicator

0DTE Credit Spreads Indicator

This indicator is designed to assist 0DTE credit spread traders by providing rule-based PCS (Put Credit Spread) and CCS (Call Credit Spread) signals, dynamic risk levels, and an integrated performance summary — all within a single, cohesive tool.

What the indicator does

The script implements a complete intraday framework tailored specifically to same-day expiration credit spreads, combining market structure, volatility context, and trade management logic into one workflow:

Opening Range logic (15-minute)
A defined opening range is used to establish directional bias. Signals are generated only after the range is confirmed, aligning entries with controlled intraday structure rather than momentum chasing.

Optional Early Entry logic
An optional early-entry mechanism evaluates 30-minute RSI extremes during the opening phase only. This is intentionally constrained to the opening window and designed for early premium capture scenarios common in 0DTE trading.

Volatility-aware credit estimation
Expected credit is derived from current volatility conditions to provide realistic assumptions for backtesting, trade visualization, and partial-profit modeling.

Dynamic risk visualization
Each signal automatically plots:

A horizontal stop-loss level

A take-profit level based on user-selected credit percentage

A dynamic diagonal stop line from entry to end-of-day, modeling time-based risk specific to 0DTE positions

Partial profit and contract modeling
The backtest logic supports closing a user-defined number of contracts at the take-profit level, while allowing remaining contracts to run to end-of-day or stop loss. This mirrors real-world 0DTE trade management practices.

Flexible evaluation modes
Trades can be evaluated using either:

Intraday stop-loss crosses, or

End-of-day outcome logic
allowing users to align results with their execution style.

Backtesting and transparency

The indicator includes a live, on-chart backtest table displaying:

PCS and CCS signal counts

Wins, losses, and win rate

Total P/L (points or dollar-based per contract)

Contract and partial-TP configuration

A non-blocking “Recommended context” note indicating whether the script is running on the preferred symbol and timeframe

Signals and visuals will display on any chart. The recommended context is informational only and does not restrict usage.

Chart presentation

Full visual mode with labels, TP/SL levels, and diagonal risk lines

Clean Chart mode with arrow-only signals and a compact summary table

Automatic object management to prevent chart clutter.

Intended use

This indicator is intended as a decision-support and research tool for experienced traders. It does not place trades, does not guarantee profitability, and should be used alongside proper risk management.