IDEAL BB with MA (With Alerts)It gives well combination of Moving average and Bollinger bands with signals
Strategy!
EneX SignalEneX is signal that give recommendation signals for entry and exit on spot market. This indicators not suitable for leverage trading in futures market.
EneX signal consider several indicators and has entry and exit rules.
EneX signal is suitable for investors who believe in trend following strategy (disclaimer on).
This script composed by Yohan Naftali for educational purpose only. Reader who will use this signal must do own research.
Indicator and Plot Involved
1. Williams Fractals with default periods = 2
2. William Alligator Indicators with default simple moving average 8, 13, and 21
3. Exponential Moving Averages with default value EMA 50, 100, and 200
4. Relative Strength Index with default overbought level = 80 and oversold level = 20
5. Williams Fractals are joined to create support and resistance line and fill area between support and resistance lines.
Entry signal conditions
1. Entry on Weakness when bullish fractal appear on n/2 period
2. Entry when price break resistance line
All entry condition must above EMA and alligator signal and not in overbought RSI
Exit signal conditions
1. Lowest price is below Exponential Moving Average
2. Lowest price is below William alligator lines
You can easily find entry and exit points by using Entry (E), Exit(X) signals
How to use
1. Monitor chart and wait until E or X signals
2. Entry if Entry Signal (E) appear (green colored label)
3. Exit if Exit Signal (X) appear (red colored label)
4. Change indicators setting when necessary
Best Practice
1. Entry only when entry signal (E) appear
2. Never entry when price below William alligator signal
3. Exit when exit signal (X) appear
4. Not exit when exit signal appear when you believe or you have information that price will be rebound
5. Exit if you believe that current price meet your target price
6. Always wise when use EneX signals
Disclaimer
Do your own research and consider fundamental price of asset.
The indicators provided on this script is for educational purposes only.
Author does not offer advisory or brokerage services, nor does it recommend or advise users to buy or sell particular stocks or securities.
Please examined script and give feedback for further improvement.
ProProfits LongStrategy made ready for automated trading based on Wavetrend/VWAP/RSI.
Whenever a 18 minute timeframe wave reaches below -60 is followed by a 3 minute timeframe VWAP cross up, a long signal will be given.
Once an RSI cross on the 10 minute timeframe above 60 is followed by a red dot on the momentum waves on the 1 minute timeframe, a Take Profit signal will be given.
The timeframes are adjustable in the settings interface, so this automated strategy can be used with any timeframe combination for the Wavetrend/VWAP/RSI.
Always make sure to view the chart from the lowest timeframe you're using.
ATR-Adjusted RSIThis indicator adjusts the RSI values using the Average True Range. It is used the same way as a normal RSI.
Vertex EMA StrategyRecently found an article sharing an EMA strategy written by Vertex. I copied a majority of the Long conditions into code here with some visual aid.
Essentially, watch for a the 8 EMA to be greater than the 21 EMA, and all the EMA's to be spread apart. Then get your trigger bar from a retracement from the 8 bar EMA. Stop on the lowest low of the past 5 bars, or on EMA 8 crossunder EMA 21.
This is intended to only be used on a 1h chart.
This was made for a friend.
Disclaimer : Please do your own research before making any decisions financially. I am not your financial advisor.
Standard Deviation ModelsBITFINEX:BTCUSD
The standard deviation model can be used for options traders that are selling options contracts to collect a premium to identify a specific range of strike prices which are optimal for selling based on the underlying asset’s historical price fluctuations. Traders will be able to identify the statistical likelihood that their options contract will be in the money (ITM) or out of the money (OTM).
Basic statistics of normal distributions (probability curve):
-1 SD to +1 SD = 68% likelihood
-2 SD to + 2 SD = 95% likelihood
-3 SD to +3 SD = 99% likelihood
Weekly Put SaleWeekly Put Sale
This study is a tool I use for selling weekly puts at the suggested strike prices.
1. The suggested strike prices are based on the weekly high minus an ATR multiple which can be adjusted in the settings
2. You can also adjust the settings to Monthly strike prices if you prefer selling options further out
3. I suggest looking for Put sale premium that is between 0.25% to 0.75% of the strike price for weekly Puts and 1% to 3% of the strike price for monthly Puts
Disclaimers: Selling Puts is an advanced strategy that is risky if you are not prepared to acquire the stock at the strike price you sell at on the expiration date. You must make your own decisions as you will bear the risks associated with any trades you place. To sum it up, trading is risky, and do so at your own risk.
Moses Long-term Index ETF Investing StrategyMoses is a script designed for long-term Index ETF investors.
Moses Goals.
1. Alerts you when a major crash is starting or is underway (Bear Market Signal)
2. Warn you of price events in the market that may lead to increased volatility and downward price pressure (Shock Event Warning)
3. Clearly inform you when the market is in a bull phase (growing) or bear phase (decreasing) (Bull/Bear Signal)
4. Inform you if the market is showing early signs of recovery from a crash
5. Alert you to catastrophic events, which are extreme one bar price drops (typically occurring before or during a major stock market crash)
Moses Logic.
Moses is the product of years of testing, but the application of the logic is simple.
1. Moses is designed specifically to work on a weekly chart (5 days per bar). Do not use the scripts on daily, monthly, or intraday charts
2. Moses Uses 4 Moving Average Indicators
3. Moses uses the position of price and the moving averages to determine the state of the market (Bull/Bear/Recovery)
4. Moses uses price action to determine shock events and catastrophic event warnings
5. The script is hardcoded to start trading in 1997. Why? So that the script's primary goal of avoiding crashes is tested on 3 major crashes, the Dotcom 2000, the Financial Crisis 2008, and the Corona Crash in 2020.
How Moses Works
Being able to exit the market before or during a large market crash enables you to preserve a portion of your equity from decline. Buying back into the market on a Bull Market or Early Recovery Signal enables you to enter the market at a lower price. This goal is achieved during major crashes.
As with all scripts, there are false signals which may incur a losing trade; you can see in the strategy tester results the % of Winning/Losing Trades.
Strategy Setup In Tradingview
Initial Capital $10,000
Order Size 100% of equity (this is because it is a long-term strategy with only one trade in play – you are either long or not invested, using a smaller position size means you cannot meaningfully compare a Moses strategy to a Buy & Hold Strategy)
Commission is $5 per trade (this is negligible because the strategy only trades at most once per year)
Slippage – 10 ticks
This Script Displays the 5 Main MOSES Signals Directly On Your Chart To Help Your Investing Decision Making
1. Bull Market Signal - Green
2. Bear Market Signal - Red
3. Stock Market Recovery Signal - Amber/Yellow
4. Shock Event Warning - Shock Label on Price
5. Catastrophic Event Warning - Red Catastrophe Label
Includes 5 Moses Scripts
• Moses Signals 2.0 (plots all alerts directly on the price chart)
• Moses Buy on Bull - Sell on Bear (Plots a buy on the first Bull Market Signal - Closes All Positions on a Bear Market Signal)
• Moses Buy on Bull - Sell on Catastrophe (Plots a buy on the first Bull Market Signal - Closes All Positions on a Catastrophic event)
• Moses Buy on Recovery - Sell on Catastrophe (Plots a buy on the first Recovery Signal - Closes All Positions on a Catastrophic Event)
• Buy & Hold Script (Used to compare the effectiveness of the strategies versus a Buy and Hold Strategy)
As the script has 3 Moses Strategies, the idea is that you choose the strategy that best fits the ETF you are trading.
Moses is a long-term investing strategy that has historically outperformed the US and European Major Indices for the last 24 years. There is no guarantee of future performance.
Moses has outperformed the market (buy and hold strategy) from 1997 on the:
Nasdaq 100, S&P500, Russell 3000, Nasdaq Composite, EuroStoxx 50, Italian Milano Borsa, German DAX, Paris CAC40
Moses does not outperform the market on:
Nifty 50, BSE Sensex, ASX 200, Chinese Market
Backtested Performance
Test Timeframe Jan 13 1997 - Sept 21 2021
Duration Years 24.75
Initial Investment $10,000
North America Strategy-------------------------------$ Return------------CAGR-------Total %
Nasdaq 100 Buy & Hold----------------------------$176,380-----------12.30%------1664%
Buy Bull - Sell Bear------------------$288,554-----------14.55%------2786%
Buy Bull - Sell Catastrophe---------$202,491-----------12.92%------1925%
Buy Recovery - Sell Catastrophe---$229,866-----------13.50%------2199%
North America Strategy-------------------------------$ Return-----------CAGR------Total %
S&P 500 Buy & Hold----------------------------$58,122-----------7.37%------481%
Buy Bull - Sell Bear------------------$48,544-----------6.59%------385%
Buy Bull - Sell Catastrophe $59,573-----------7.48%------496%
Buy Recovery - Sell Catastrophe $64,579-----------7.83%------546%
North America Strategy-------------------------------$ Return-----------CAGR------Total %
Russell 3000 Buy & Hold----------------------------$61,363-----------7.61%------514%
Buy Bull - Sell Bear------------------$52,957-----------6.97%------430%
Buy Bull - Sell Catastrophe---------$64,027-----------7.79%------540%
Buy Recovery - Sell Catastrophe---$71,565-----------8.28%------616%
North America Strategy-------------------------------$ Return-----------CAGR------Total %
Nasdaq Composite Buy & Hold----------------------------$112,839-----------10.29%------1028%
Buy Bull - Sell Bear------------------$123,308-----------10.68%------1133%
Buy Bull - Sell Catastrophe---------$107,699-----------10.08%------977%
Buy Recovery - Sell Catastrophe---$112,453-----------10.27%------1025%
*CAGR - Compound Annual Growth Rate
From a Declaration of Principles jointly adopted by a Committee of the American Bar Association and a Committee of Publishers
This work is provided to you for informational purposes only and should not be construed as an offer to buy or sell a particular security or a solicitation of offers to buy or sell a particular security. The author may make available certain information related to the potential price movement of particular securities. By reading this report or using the training materials, you acknowledge and agree that any reliance upon the content or data available is at your own sole risk. You are strongly advised to use your own judgment, your own research, and question everything. The information is generic in nature and not targeted to individuals or individual circumstances. The author is an independent investor and is not licensed to give formal Stock advice to the individual, run funds of any type, or accept fees for individual stock advice. The Author accepts no responsibility for loss of money for following any of the lessons or systems created. Trading of securities may not be suitable for all users of this information; if in doubt, seek a professional advisor. All use of this work is at your sole risk.
Drawdown strategy indicatorThis indicator uses drawdown and max drawdown to determine good areas to enter or exit the market.
It uses the ratio between those values and two thresholds provided by the user: top and bottom.
These two values will be used to highlight the areas that match the users strategy criteria.
I normally use this indicator on the 4h or higher timeframes.
On BTC using the default parameters it predicts the tops pretty nicely. The areas of accumulation or buy zones are consistent with the ones that follow each halving.
The chart shows:
- Drawdown
- max drawdown
- drawdown average
- drawdown ratio
- buy and sell zones
The study includes alerts for both buy and sell zones.
Strangle MoverStrangle Mover is an indicator especially made for option writer / seller who wants to do strangle and adjust the position based on the market trend / movement. It can be use for iron condor strategy too.
Settings: User must know the settings of the indicator before using .
First one is Option Strike Difference , user need to enter the correct option strike difference of the particular instrument / stock / indices, one can get it from option chain. For example, Nifty having 50 points differences in each option strike and bank nifty having 100 points. So, Nifty user must enter 50 and Bank nifty user must enter 100 in this setting.
Second is strangle distance multiply , user can choose the distance from the trend price. For example, nifty user selects 3, strangle line starts showing (3*50) 150 points away strike from the trend area.
Third is Length, default value is 20 which generally used in vwma, donchian channel and other trend finding indicators. User can change if need.
Note: Option Strike Difference and Strangle Distance Multiply is very important setting to use this indicator.
User must do adjustments based on their own risk and strategy. This indicator is only for education purpose.
[FN] Strategy - Store Level on ConditionThis is a function that you can use in strategies. Not a strategy in and of itself.
Example thumbnail is showing the function applied to a strategy.
Oftentimes, I am asked a question regarding how to hold a variable at a specific, constant level over a conditional period of time. This question is always asked in a very long convoluted way like "I want the strategy to know what the high of the last pivot was while I'm in a long." or some other variation of wanting a script to remember something from prior bars.
This function is designed to store a price or some numeric level on the bar that your conditional (bool) statements determine that it should be stored. In this construct, you would set conditional statement(s) to flip the 'hold condition' to be true on the next bar, then hold that value until either the "hold condition" is no longer true or the initial conditions trigger again, causing an update to the level that you want to capture.
You still have to come up with the logic for the start condition and hold condition on your own, but I've provided an example that should give you an idea of how to accomplish this and customize/deploy the function for your purposes.
The function will return 'na' when neither the start condition nor hold condition are true. There's multiple ways to implement this and variations on how the level is chosen. I've written extensive notes in the script to guide you through the logic behind the function. My hope is that it will be useful to those trying to build strategies or anyone attempting to get their script to remember a level under given conditions.
In the thumbnail example, the take profit level is defined at the beginning of the trade and held until the take profit order executes. The order execution is a separate matter. However, storing the take-profit level at a static value is key to telling the strategy.exit() function what price to execute a limit exit order at.
Example: strategy.exit("Exit Long", from_entry = "long", qty_percent = 100, limit = stored_value)
Let me know how it works out for you and if I can be of any assistance.
Note: Strategy results are mainly derived from the fact that the strategy is long-only, the NQ only goes up, and there is no stop loss in place. So don't ask for the specific strategy, because unless you're trading a single contract with a $500,000 account, you'll probably get liquidated using this strategy as it is presented.
Straddle / Ironfly AdjustmentStraddle / Iron fly Adjustment is an indicator to assist (especially) Nifty / Bank Nifty Option Writers / Sellers (other instrument writers also) to draw their straddle / iron fly payoff diagram in the chart, mainly max profit and breakeven points and do adjustment based on the market movement.
Basic Idea: (My Conclusion for making this Indicator)
1) For Straddle / Iron fly writers need to adjust their position based on the market movement.
2) Here I give two adjustment ideas which one is my favorite method and another one is one of my friends is using.
a) Price Vs Time based Adjustment
I usually wait until price cross the price vs time line to do any adjustment. Generally, price vs time-based adjustment gives you more point to enter any adjustment in initial day/time when you created the straddle / iron fly. But one later it will reduce the range it become narrow.
b) Percentage based Adjustment
This method using by one of my friends which is based percentage between straddle / iron fly line and upper / lower breakeven points. Generally, he using 50 percentage. In this indicator we do have option to change the percentage between 25 to 100.
User must give inputs to see the straddle / iron fly diagram (Max Profit, Breakeven points, Adjustment, Percentage based adjust line and so)
This is not an intraday indicator and also its not suggesting you to take any buy/sell or straddle/iron fly positions. Its just giving an opportunity to draw a payoff diagram of for max profit and breakeven zone. And also helps to identify the adjustment based given scenario.
Happy Trading 😊
Saravanan Ragavan
Binary Option Strategy Tester with MartingaleIn Binary options, strategy testing is a bit different. The script is just a try to test Binary options strategies.
Assumption:
We are opening position at next candle after signal come
We are taking the position at opening price
Our call will be profitable if we get a green candle and put will be profitable if we get a red candle
We can open only one trade at a time. So if we are in trade, subsequent signals will be ignored.
The script is not counting your profit or loss, it just counting the winning and losing trades.
Input Options:
Choose long only or short only test. Default is both.
You can continue your trade with Martingale Level, up to 5. Default is 1 (no Martingale)
You can choose Martingale trade type
SAME: if call subsequent trade will be call only and vice versa
OPPOSITE: if call subsequent trade will be put
FOLLOW CANDLE COLOR: Subsequent trade will follow previous candle color
OPPOSITE CANDLE COLOR: Subsequent trade will opposite of previous candle color
You can choose trading session to test. Default is false.
The strategy is taken from Vdub Binary Options SniperVX v1 (by @vdubus) . I have deleted extra parts and kept only the necessary part.
Without Martingale
Result Table
With Martingale
I am very new to Pine script, so waiting for your comments and review.
Bybit Futures ShortsThe whales love to short! This indicator emulates a strategy used by institutions to find short entries. It is designed for use on the Bybit exchange 4hr futures contracts but can be used on any timeframe on any Bybit contract. This is a great way to short with the whales. Please note this only works with Bybit.
Below is an example on 4hr chart:
Below is an example on 1hr chart:
Below is an example on Daily chart:
Good Luck!
Trade Vertex - Bank Nifty Volume IndicatorNSE:BANKNIFTY
We all know that the value of an Bank Nifty is derived from top banking sector underlying stocks.
The value of Bank Nifty is calculated from free float market capitalization.
Using the same formula, I made an indicator on the bases of weighted volume of each stock.
This indicator will help you to plot Volume on Bank Nifty.
Tolueno StrategyTolueno Strategy is a help tool for the average trader of tradingview. This tool facilitates the interpretation of entries either long or short.
The use of magic trend has been implemented, in addition to different types of ema and fully configurable signals.
Soon the use of more sophisticated support and resist will be added to be used for inputs and outputs. RR will be improved too.
The tool has alerts
The tool has a dashboard that shows current signal (LONG / SHORT), shows a recommended take profit (not mandatory), recommended stop loss (not mandatory) and the profit that the current operation is achieving, all this to help the trader and his emotions do not harm him.
The tool is constantly updated and will be gradually improved over time with feedback from tradingview users.
Any questions ask in the comment box or by pm.
This indicator is not for sale, it is not a commercial publication.
Martingale TemplateA template example on how to apply the famous Martingale gambling strategy. When your strategy gets an exit signal for your long position that leaves you without profit, you re-enter on the next entry long condition with double the capital of the previous amount entered with. You keep doubling the amount of capital entered with until you finally exit with a profit. If the strategy isn't sound enough then it could take several attempts and it can take only as much as a dozen tries to eat away at all your capital as the capital required to double on the next entry increases greatly over time by consecutive products of 2.
The strategy used is just a simple moving average crossover, above the moving average is going long, below the moving average is going short. It can be replaced with whatever strategy that you want. The colored vertical bars show long and short positions and exits. The default option on the tick box under the settings show the number of attempts at entering before finally exiting with a profit, the other option shows the amount of capital it took starting from 1.
Consecutive Color Reversal for Binary Option TradingThis indicator is only for Binary Option trading. It alerts when a specific number of consecutive same color candlesticks are generated and it signals for a reversal. As an example, when it signals "Long", a long trade should be opened for a few of next candlesticks (upto 2 to 3 candles).
[francrypto® strategy] 4 EMAs, P.SAR & Vol.Prof. (by kv4coins)(ENG)
This script consists of my own strategy for cryptocurrency (but can be adapted very well for stocks, forex, etc.)
Is a combination of:
- Four Exponentials Moving Average (EMA), configurables: by defect are 10, 21, 55 and 200 periods in yellow, aqua, orange and blue each of them
- Parabolic SAR System (PSAR), configurable
- Volume Profile (that has been developed by kv4coins - he has already authorized me to use it under the same OSS Licence Terms: MPL 2.0), configurable: with another default values and bilingual support for Spanish (SPA)
How it works
1) It is always better to detect specifics candlesticks or patrons: doji , pinbar or inverted pinbar , engulfing bars , morning star or evening star , harami , twizzer bottom or top , etc.
2) The 10 and 21 periods EMA help to identify the short-term behavior
3) The 55 periods EMA can be used like a support or resistance in medium-term, as 200 periods EMA in very long-term
4) It will convenient search for a double cross (10 & 21) or a triple cross (10, 21 & 55) to determine the medium-term change Downtrend to UpTrend (or viceversa)
5) Confirm the change patron with the Parabolic SAR and then identify potencials purchases or sales
6) Use Volume profile to detect potential supports or resistances areas, in order to set stop limit/loss and take profit orders.
Hope this helps!
Cheers,
FRANCRYPTO®
–––––– 0 ––––––
(ESP)
Este script consiste en mi propia estrategia para criptomonedas (pero puede adaptarse muy bien para acciones, forex, etc.)
Es la combinación de:
1) Cuatro Medias Móviles Exponenciales (EMA), configurables: por defecto son de 10, 21, 55 y 200 períodos en amarillo, turquesa, naranja y azul cada una de ellas
2) Sistema Parabolic SAR (PSAR), configurable
3) Perfil de Volumen (que fuera desarrollado por kv4coins - que ya me ha autorizado a su uso bajo las mismas condiciones de la Licencia OSS: MPL 2.0), configurable: con otros valores por defecto y soporte bilingüe para Español (SPA)
Cómo funciona
1) Siempre va a resultar mejor detectar velas japonesas específicas o patrones: doji , martillos o martillos invertidos , velas envolventes , patrón amanecer o atardecer , harami , velas gemelas , etcétera
2) La EMA de 10 y 21 períodos ayudan a identificar el comportamiento de corto plazo
3) La EMA de 55 períodos puede ser usada como un soporte o resistencia de mediano plazo, como así también, la EMA de 200 períodos en el muy largo plazo
4) Será conveniente buscar un doble cruce (10 & 21) o un triple cruce (10, 21 & 55) para determinar un cambio de la tendencia de mediano plazo de bajista hacia alcista (o viceversa)
5) Confirmá el patrón de cambio con la Parabólica de SAR y entonces identificá potenciales compras o ventas
6) Usá el perfil de volumen para detectar las potenciales zonas de soporte o resistencia, principalmente para establecer ordenes stop limit/loss o take profit.
¡Espero que pueda serles de utilidad!
Saludos,
FRANCRYPTO®
MechaOscillatorWhat is MechaOscillator?
MechaOscillator was created as a companion to our main script MechaAlgo. Using MechaOscillator along with MechaAlgo will allow you to boost your overall understanding of any market, and make more informed decisions as a trader.
Feature List
Built-In Improved WaveTrend Oscillator
Buy & Sell Signals
Bullish and Bearish Divergences
Short and Long Term Trend Indicators
Trend Strength Indicator
Market State Indicator
Real Time Informational Dashboard
Bullish and Bearish Breakout Indicator
Many More Features to Come!
By using this script you acknowledge that MechaOscillator cannot guarantee you profit, and that this product was only created in attempt to benefit traders. You also acknowledge that past performance is not indicative of future results, and that the experience of other users or what you see online may not always be your experience.
MechaAlgoWhat is MechaAlgo?
MechaAlgo was created to assist any type of trader on a day to day basis. Our intelligent and accurate algorithms turn complex charts into profitable plays, minimizing losses and maximizing profits. We hope that you will find use in the tools and resources we provide, and we will continue to improve on our products in order to take your trading to new heights!
Any Time, Any Market
Our indicators work with real time data on any market. This means that any kind of trader will find our tools useful, regardless of what you are trading.
Feature List
Multiple Signal Modes
Numerous Candle Coloring Modes
Reversal Cloud Overlay
Auto Support & Resistance
Auto Trendlines
Auto Profit Targets
Real Time Informational Dashboard
Multi-Timeframe Trend Panel
Future Trend Projection
Many More Features to Come!
By using this script you acknowledge that MechaAlgo cannot guarantee you profit, and that this product was only created in attempt to benefit traders. You also acknowledge that past performance is not indicative of future results, and that the experience of other users or what you see online may not always be your experience.
[Sidders] MACDEMASAR IndicatorCame across a cool idea for a strategy that couldn't find in the indicator database, so decided to code it up myself for your pleasure.
Indicators consists of 3 indicators: EMA(200) to determine the overall trend, and the MACD & Parabolic SAR to determine entries (and exits).
Long entry contains 4 conditions and is generated when price is above the 200EMA (1), the MACD crosses above the signal line (2), while they are both below 0 line (3) and when the parabolic SAR is below the closing price of the bar (4).
Short entry is build up the same but in reverse: price is below the 200EMA(1), signal line crosses below the MACD line (2), while they are both above the 0 line (3) and when the parabolic SAR is above the closing price of the bar (4).
Place the stoploss on the parabolic SAR dot below/above the candle that created the signal. Profit target 1:1 risk:reward ratio, but can ofcourse be changed according to your risk apetite. Might add automatically drawn SL/TPs in a later update.
Concept behind the strategy should work on all timeframes, but will require proper backtesting. I think with additional filters the strategy can also be way more finetuned and profitable, personally haven't had the time yet to dive into that.
Have also added alerts for your convenience.
Enjoy!
Intrangle - Straddle / StrangleIntrangle is an indicator to assist Nifty / Bank Nifty Option Writers / Sellers to identify the PE / CE legs to Sell for Straddle and Strangle positions for Intraday.
Basic Idea : (My Conclusion for making this Indicator)
1) Last 10 Years data says Nifty / Bank Nifty More than 66% of times Index are sideways or rangebound (within 1% day) .
2) Mostly, First one hour high and low working as good support and resistance.
Once First one hour complete, this indicator will show Strangle High (CE), Strangle Low (PE) and Straddle (CE/PE).
Straddle:
If you want to do straddle strategy, sell at the money strike (CE/PE) when price comes near to the straddle line (black line),
Strangle:
If you want to do Strangle strategy, sell Strangle High (CE) and Strangle Low (PE) when price comes near to the straddle line (black line). Both Strangle High and Low will be out of the money when price near to the straddle line (black line).
Adjustment: option adjustment to be done based on the price movement. Adjustment purely up to the user / trader.
Note1: If price not comes to near straddle line after first hour, better to stay light…
Note2: If first hour not giving wide High / Low, don’t use strangle strike based on this indicator. Straddle can be done any day with require adjustment / hedge. This Indicator is purely for education purpose, user / trader has to be back-tested before their start using it.
This indicator will work in Nifty / Bank Nifty only. Best Time frames are 3/5/15 Mins. This is purely made for Intraday
Happy Trading 😊
