OPEN-SOURCE SCRIPT
CPR Strategy - (Call and Put Option Selling)
The strategy is designed using CPR and Donchian Channels.
STRATEGY RULES:
[1] We need to wait for "Sell Call" or "Sell Put" arrow on the chart.
[2] Sell call or put on the next candle.
[3] Sell call strike above CPR resistance and candle close above it will be stop loss.
[4] Similarly, sell put strike below CPR support and candle close below it will be stop loss.
This strategy is purely based on theta decay principle.
Hence, always use this strategy on weekly option.
Also, never trade on Monday or Friday to avoid volatility.
Hope you enjoy this strategy and become a professional trader.
Enjoy! :-)
Drop your message below if you have any doubts. Thanks.
STRATEGY RULES:
[1] We need to wait for "Sell Call" or "Sell Put" arrow on the chart.
[2] Sell call or put on the next candle.
[3] Sell call strike above CPR resistance and candle close above it will be stop loss.
[4] Similarly, sell put strike below CPR support and candle close below it will be stop loss.
This strategy is purely based on theta decay principle.
Hence, always use this strategy on weekly option.
Also, never trade on Monday or Friday to avoid volatility.
Hope you enjoy this strategy and become a professional trader.
Enjoy! :-)
Drop your message below if you have any doubts. Thanks.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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