AlgoTest - All-in-One Rolling Straddle

This script, AlgoTest - All-in-One Rolling Straddle, is a comprehensive trading tool designed specifically for index options traders who want an integrated approach to analyze and automate rolling ATM straddles. It combines various technical indicators, including VWAP, EMA Crossover, Supertrend, SMA, and RSI, offering a unique, all-in-one solution for assessing multiple market conditions in real-time.

Key Features:

1. Rolling ATM Straddle Calculation:

• The script calculates the rolling ATM (At-the-Money) straddle for indices, including NIFTY, BANKNIFTY, FINNIFTY, MIDCPNIFTY, SENSEX, and BANKEX.
  
• Strikes are manually declared up to ±9 steps around the selected ATM to account for variations in market price. This range is adjustable depending on market movement, enabling traders to maintain accurate straddle monitoring.
  

2. Multi-Indicator Overlay for Enhanced Analysis:

• VWAP (Volume Weighted Average Price): Calculated daily for intra-day trading context, allowing traders to view price stability relative to volume.
  
• EMA Crossover: A dual EMA system that helps detect short-term trend shifts, with customizable fast and slow periods.
  
• Supertrend: Uses ATR-based bands to indicate directional shifts; this indicator is particularly useful in volatile market conditions.
  
• SMA: Provides a simple moving average of the combined premium, giving traders a trend perspective.
  
• RSI: Measures momentum by tracking overbought and oversold levels, supporting traders in identifying potential reversals.
  

3. Customizable Parameters:

• Expiry date, ATM strike selection, and indicator parameters (e.g., EMA length, ATR period for Supertrend) are customizable, allowing traders to fine-tune the script to fit their specific trading style and market focus.
  
• Select between different strike analysis options ("Combined," "Only Call," or "Only Put") for more personalized trading insights.
  

4. Buy and Sell Signal Conditions:

• The script generates buy and sell signals based on selected indicators, providing clear entries and exits according to user-defined strategies.
  
• For example, buy signals are generated when a crossover occurs, prices move above VWAP, or an upward Supertrend direction is detected. Similarly, sell signals activate on cross-unders or downward direction shifts.
  
• Signals appear as visual labels on the chart, marking the timing of each signal with customizable alert options for real-time notifications.
  

5. Combined Premium Visualization:

• Plots a candle representation of the combined premium, reflecting call and put prices around the ATM.
  
• This visualization aids in tracking premium fluctuations, allowing traders to assess potential profitability and execute their strategies effectively.
  

Unique Value Proposition:

"AlgoTest - All-in-One Rolling Straddle" provides a streamlined solution for index options traders by uniting multiple indicators and an adjustable rolling ATM system into a single, user-friendly tool. This script stands out by supporting complex multi-strike analysis while maintaining ease of customization for both novice and advanced traders.