🧠 STWP Options Strategy Dashboard (Strangle)

6 ago

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🧠 STWP Options Strategy Dashboard (Long/Short Strangle)
Author: simpletradewithpatience
Markets: NSE (India)
Best timeframe: 1-second chart
Built with: Pine Script v5
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📌 Overview
A real-time options strategy dashboard tailored for NSE Strangles:
✅ Long Strangle → Buy OTM CE + Buy OTM PE
✅ Short Strangle → Sell OTM CE + Sell OTM PE

This tool offers a tick-by-tick visual dashboard to monitor:
Live premiums, PnL, breakeven levels, expiry decay, and Greeks.
It is designed **for manual use only** — no trade automation.
Ideal for strategy tracking, education, and decision support.

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📌 Key Features
✅ Long & Short Strangle support
✅ Real-time tracking of CE & PE legs (LTPs, PnL, Premium)
✅ Max Loss / Profit calculator
✅ Breakeven range calculator
✅ Risk:Reward verdict (dynamic logic)
✅ Smart Exit logic with trade-specific warnings
✅ Reversal Exit logic based on spot compression
✅ Optional manual Greeks input (Delta, Gamma, Theta, IV)
✅ Greek-based bias: Bullish / Bearish / Neutral
✅ Days to Expiry (DTE) calculator
✅ Clean dashboard UI (emoji-labeled)
✅ Built for Indian NSE Options
✅ Designed to run on **1-second chart only**

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📌 Option Symbol Inputs (LTP Tracking)
✅ Call Symbol: OTM CE (above spot)
✅ Put Symbol: OTM PE (below spot)
🎯 Symbol Tips: Use NSE format like `NSE:RELIANCE25JUL3050CE` and `PE`
⚠️ Valid option symbols are critical for accurate PnL tracking

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📌 Strategy Parameters
- Call & Put Strike Prices
- Buy/Sell Premiums for both legs
- Lot Size & Number of Lots
- Loss Bearable Amount (₹)
- Expiry Date & Time (used for DTE tracking)

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📌 Smart Exit Logic
🧠 A dynamic assistant that checks:
✅ Profit Target Hit
❌ Loss Threshold Breach
⏳ Expiry nearing with no breakout
🟡 Partial Profit Zone

📉 Guides the trader to avoid emotional decisions.
All messages are suggestive only — no trade recommendations.

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📌 Reversal Exit Logic (Strangle Specific)
🔁 Detects if spot is trapped between the call/put strikes
➡️ If no breakout from the average strike zone, exit is suggested
⚠️ Helps prevent theta decay trap in Long Strangles

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📌 Greeks (Optional Input)
🔹 Manual input for Delta, Gamma, Theta, and IV for both legs
🔍 Dashboard shows:
- Net Delta: Directional Bias
- Net Gamma: Volatility Risk
- Net Theta: Time Decay Risk
- Avg IV: Vol Crush or Low IV Warning
- Verdict: 🟢 Strong / 🟡 Moderate / ❌ Risky

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📌 Dashboard Display
📈 Strategy Type: Long or Short Strangle
💹 Call & Put Premiums (Entry vs LTP)
📊 Total Net Premium
📉 Real-time PnL
📐 Breakeven Range (Lower & Upper)
🧠 Smart Exit verdict
🔁 Reversal Exit guidance
📆 Days to Expiry (DTE)
📊 R:R Ratio & Quality Verdict
📐 Greeks Summary + Risk Flags (if enabled)

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⚠️ Important Notes
✅ Built for NSE Options only
✅ Designed for Long/Short Strangle strategies
✅ Use on 1-second chart only
❌ Will not function correctly on higher timeframes
✅ This is a manual dashboard — **no orders or automation**
✅ For educational, research, and tracking use only
❌ Not financial advice or a trading recommendation

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💬 How to Use This Dashboard
1️⃣ Choose your strategy: Long or Short Strangle
2️⃣ Enter valid CE & PE symbols (OTM strikes)
3️⃣ Fill in strike prices and premiums (Buy/Sell)
4️⃣ Optionally enter Greeks (Delta, Gamma, etc.)
5️⃣ Set your expiry date
6️⃣ Monitor PnL, risk zones, exit suggestions
7️⃣ Use alerts (if enabled) for major thresholds

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🤝 Final Note
This tool was built with patience and care by simpletradewithpatience to help fellow options traders trade more objectively, systematically, and confidently.
Feel free to share feedback on Tradingview.
Happy Trading! 📈
Stay disciplined. Stay smart.
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🔠 Glossary
PnL – Profit & Loss
LTP – Last Traded Price
IV – Implied Volatility
DTE – Days to Expiry
ROI – Return on Investment
R:R – Risk to Reward Ratio
CE / PE – Call / Put Option
SEBI – Securities and Exchange Board of India
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⚠️ Disclaimer
This script is for educational and research purposes only.
I am not a SEBI-registered advisor.
No buy or sell recommendations are made.
Trading options involves significant risk.
Use proper risk management and always consult a licensed advisor if in doubt.
The author is not responsible for any financial losses incurred.
By using this tool, you agree to these terms.
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6 ago

Note di rilascio

Update: Now you can select if new trade or running trade just before entering greeks and output will be sown in Trade Outcome cell in the table.