BE - Spread_Indicator

19 Jul 2023

Spread Indicator: An Overview Driven by the concept of forethought. The indicator predicts the range for the day and divides it into two or three Levels (upper, middle, and lower).
These ranges are drawn from possible supply and demand zones as well as potential price consolidation zones which has happend in the rolling number of days in the past.

It's true that market respects history. Which means the zones which are untested and created new in recent past shall be respected in the future days. Also the most respected Zones switch between support and resistance based on the price and volume pumped into the market.

Calucations Involved In the Indicator:
Indicator takes into account Factrol points, Fibonachi and its Retracements along with Channel and Candle Ranges to calculate the levels accordingly.

Levels Information:
Levels should be Treated and Traded the way like POC (Point Of Control). Price within the levels are basically controled by the levels above and underneath.

Converting idea to TradeOpportunity:
One can look into deploying IronCondor, while it is within the Zone also One Can deploy Long Straddle when the levels are Tested.

My personal Observation not a Trade Recommendation
With an Option Buyer view, I have been testing this indicator on the Index (BankNifty, FinNifty & Nifty) on 5 Min TF and 15 Min TF. Banknifty Works Well with Bull & Bear Spreads and FinNifty along with Nifty Works Well with Long Straddle & Long Strangle.

Happy to receive Suggesstions and feedback to improvise it with better option strategy.

Features:
1. Integrated with NLB for AlgoTrading.
2. Timely Alerts for Levels, Formation, Breach, TestOf Levels, CrossOvers.
3. Position Can be traded as CarryForward or Intraday.

20 Jul 2023

Nota Keluaran

Improvements:
1. Spread Strike Calculations are Improved.
2. Supported Brokers list have been mentioned in the Input Settings. (Let me know if you need any other Broker to be integrated)
3. Alert Messages now to provide Required Meaningful Information.
4. BUG Fix - FYERS: Straddle SLL Orders getting errored out is now fixed.
5. BUG Fix - Spread orders alignment to place BUY Legs first and Sell Legs at the Last to get proper Hedge Margin Benefit.

23 Jul 2023

Nota Keluaran

Updates:
1. If you are with a conviction that IV was on higher side while closing previous day which suppose to get corrected in current session, "FSP2Std" - Option enables you to trade with Spread in first Trade and rest of the trades with Straddle to get the premium decay benefit.

vice versa FStd2SP - helps you to trade Straddle on the first trade and balance trade with Spread.

Fake Management Orders can be optionally enabled for the Spread orders which can help you trail the SL so that it works for your favors'.

2. Improved Trailing Management Algorithm.

FAQ:
I find Settings helpful for my trading style and I use Intraday Settings below. You may try explore the possibilities by changing the settings suiting your style of trading.

For FINNIFTY & NIFTY50 -
"Target Strike" - 2.5
"Strike Difference" - 50
"Spread Lot Multiplier" - 1
"Straddle Lot Multiplier" - 2
"Strategy Type" - FSP2Std on Monday and Tuesday and Straddle on rest other days (FINNIFTY).
"Strategy Type" - FSP2Std on Wednesday and Thursday and Straddle on rest other days (NIFTY).


For BANKNIFTY-
"Target Strike" - 2.75
"Strike Difference" - 100
"Spread Lot Multiplier" - 1
"Straddle Lot Multiplier" - 2
"Strategy Type" - Spread & use Straddle only if you know it can break the major levels and becomes trendy.

DISCLAIMER: No sharing, copying, reselling, modifying, or any other forms of use are authorized for our documents, script / strategy, and the information published with them. This informational planning script / strategy is strictly for individual use and educational purposes only. This is not financial or investment advice. Investments are always made at your own risk and are based on your personal judgement. I am not responsible for any losses you may incur. Please invest wisely.

Happy to receive suggestions and feedback in order to improve the performance of the indicator better.

27 Jul 2023

Nota Keluaran

Major Improvements:
1. Improved main the Algorithm for better performance.
2. Trail SL Logics are updated to tackle Sideways and Trendy Markerts.
3. For Brokers which support SLL order shall be placed SLL orders, if not Indicator tracks the price movements and place market orders once the SLL range is crossed.

Other Improvements:
1. Intraday Session is now customizable.
2. Updated Tooltips for better understanding of the settings.
3. Alerts read more meaningful information.

1 Ogo 2023

Nota Keluaran

Updates:
1. Added Directional Straddle Type of Options.
2. Minor Alerts Tweaks to remove Alert Clutter.
3. Cleaned up codes to improve the performance of Indicator.

8 Ogo 2023

Nota Keluaran

Updates.

13 Ogo 2023

Nota Keluaran

Major Updates:
1. Option Enabled for MCX so that Strategy can be applied on CrudeOil as well.
2. Trail SL enabled for Each Options Leg placed.
3. Improvised Overall Performance of the Indicator.
4. Alerts to keep you informed with meaningful information.

13 Ogo 2023

Nota Keluaran

Republishing...

I find below Settings helpful for my trading style and I use Intraday Settings below. You may try explore the possibilities by changing the settings suiting your style of trading.

For FINNIFTY & NIFTY50 -
"Target Strike" - 1.45
Trail SL - Enabled
"Strike Difference" - 50
"Spread Lot Multiplier" - 1
"Straddle Lot Multiplier" - 2
"Strategy Type" - Dir_Straddle


For BANKNIFTY- & CrudeOil
"Target Strike" - 1.5
Trail SL - Enabled
"Strike Difference" - 50
"Spread Lot Multiplier" - 1
"Straddle Lot Multiplier" - 2
"Strategy Type" - Dir_Straddle

DISCLAIMER: No sharing, copying, reselling, modifying, or any other forms of use are authorized for our documents, script / strategy, and the information published with them. This informational planning script / strategy is strictly for individual use and educational purposes only. This is not financial or investment advice. Investments are always made at your own risk and are based on your personal judgement. I am not responsible for any losses you may incur. Please invest wisely.

Happy to receive suggestions and feedback in order to improve the performance of the indicator better.