Bull Call Spread Entry Strategy

This strategy uses the Spread Entry Overlay indicator I designed to show entry points designed to be optimized for an Option Bull
Call Spread.

All of the user settings from the overlay are pulled into this for customization purposes. I will not go into detail of the indicator itself, but have shared the link in the "Related Ideas," in case the overall setup of the indicator is needed.

As for this strategy...

The defaults for the strategy itself are as follows:

• Period for strategy: 1/1/18 to 12/1/2021. This can be changed to a different period using the settings.
  
• Condition for entry:
  
• Bull Spread Entry Strength >= "Overlay Signal Strength Level"
  
• Limit entry is used, price must be <= close when signaled
  
• Entry occurs by next day or the order is cancelled
  Condition for exit (timed):
  
  • Bars passed since order entry >= 30 (6 weeks..~42 calendar days)
    
  • Thursday (day before "option" expiration date... assuming weekly options exist)
    

The link