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GEX / Gamma - SPX Indicator Description – GEX / Gamma (SPX) This indicator allows you to manually plot your daily +GEX, TRANS-GEX, and –GEX levels on SPX and visualize how price reacts around key gamma zones. You enter the three levels each morning, and the script automatically draws: +GEX / TRANS / –GEX zones with an adjustable buffer Clean labels (e.g., “+GEX: 6850”) pinned to the right side of the chart Today-only candle coloring (green above TRANS-GEX, red below) Zones extend from yesterday’s session through the current session, helping highlight areas where dealer hedging flows may influence volatility, compression, or acceleration. How to Use Add the indicator to any intraday SPX chart. Open settings and enter your +GEX, TRANS-GEX, and –GEX levels for the day. Adjust the buffer, colors, and label style as needed. Watch how price behaves as it moves above or below TRANS-GEX and interacts with +/- GEX zones. Best For Intraday SPX / ES / SPY Options traders Volatility and gamma-aware strategies Strategy Behind It (Tight Version) GEX levels help identify where dealer hedging flows can influence SPX price behavior. +GEX (Positive Gamma) Market tends to stabilize here. Dealers hedge against price moves, creating mean-reversion and lower volatility. TRANS-GEX (Transition Level) Key pivot where gamma flips. Price crossing this level often signals a shift in volatility or intraday direction. –GEX (Negative Gamma) Market becomes more reactive. Dealers hedge with price, increasing volatility, momentum, and trend potential. How traders use it: Expect resistance or slowdown into +GEX Watch for potential bottoming or increased volatility –GEX Use TRANS-GEX as a bias line or trigger for intraday shifts A move outside of either the +GEX or -GEX will likely result in some type of high volume move.
Pine Script® indicator
by OptionScalps
2
Lump Sum Favorability (SPX & NDX)This indicator provides a visual dashboard to gauge the statistical favorability of deploying a "Lump Sum" investment into the SPX (S&P 500) or NDX (Nasdaq 100). The primary goal is not to time the exact market bottom, but to identify zones of significant pessimism or euphoria. Historically, periods of indiscriminate selling have represented high-probability entry points for long-term investors. The dashboard consists of two parts: 1. The Favorability Gauge: A 12-segment gauge that moves from Red (Unfavorable) to Teal (Favorable). 2. The Summary Text: An optional text box (enabled in settings) that provides a plain-English summary of the current market breadth. --- The Method: Market Breadth This indicator is not based on the price of the index itself. Price-based indicators (like an RSI on the SPX) can be misleading. In a market-cap-weighted index, a few mega-cap stocks can hold the index price up while the vast majority of "average" stocks are already in a deep bear market. This tool uses Market Breadth to measure the true, underlying health and participation of the entire market. How It Works 1. Data Source: The indicator pulls the daily percentage of companies within the selected index (SPX or NDX) that are trading above their 200-day moving average. (Data tickers: S5TH for SPX, NDTH for NDX). 2. Smoothing: This raw data is volatile. To filter out daily noise and confirm a persistent trend, the indicator calculates a 5-day Simple Moving Average (SMA) of this percentage. This is the value used by the indicator. 3. Interpretation: High Value (>= 50%): More than half of the stocks are above their long-term average. This signifies the market is "Overheated" or in a risk-on phase. The favorability for a new lump sum investment is considered Low. Low Value (< 50%): Less than half of the stocks are above their long-term average. This signifies "Oversold" conditions or capitulation. These moments historically offer the best favorability for starting a new long-term investment. --- How to Use the Indicator 1. The Favorability Gauge The gauge is designed to be intuitive: Red means "Stop/Caution," and Teal means "Go/Opportunity." Note: The gauge's logic is inverted from the data value to achieve this simplicity. Red Zone (Left): UNFAVORABLE This corresponds to a high percentage of stocks being above their 200d MA (>= 50%). The market is considered Overheated, and the favorability for a new lump sum investment is low. Teal Zone (Right): FAVORABLE This corresponds to a low percentage of stocks being above their 200d MA (< 50%). The market is considered Oversold, and the favorability for a new lump sum investment is high. 2. The Summary Text When "Show Summary Text" is enabled in the settings, a box will appear at the top-center of your chart. This box provides a clear, data-driven summary, such as: "Currently, only 22% of S&P 500 companies are above their 200-day MA. Market is Oversold." The color of this text will automatically change to match the market state (Red for Overheated, Teal for Oversold), providing instant confirmation of the gauge's reading. --- Settings Market: Choose the index to analyze: SPX (S&P 500) or NDX (Nasdaq 100). Gauge Position: Select where the gauge dashboard should appear on your chart (default is Bottom Right). Show Summary Text: Toggle the descriptive text box on or off (default is On). --- This indicator is a statistical and historical guide, not a financial advice or timing signal. It is designed to measure favorability based on past market behavior, not to provide certainty. Extreme oversold conditions can persist, and markets can always go lower. This tool should be used as one component of a broader investment and risk-management framework. Past performance is not a guarantee of future results.
Pine Script® indicator
by Julien_Eche
XAUUSD/SPX with SMA(48)📊 Gold vs S&P 500 | XAUUSD/SPX Ratio with SMA (48) – Full Pine Script Breakdown In this video, we build and explain a custom Pine Script that plots the Gold to S&P 500 ratio (XAUUSD/SPX) along with a 48-period Simple Moving Average (SMA). This ratio helps us analyze how Gold is performing against equities and whether smart money is shifting from risk assets (stocks) to safe haven (gold). 🔧 What’s Included in the Script: ✅ Live ratio of XAUUSD (Gold) / SPX (S&P 500) ✅ 48-period SMA for trend analysis ✅ Clean visual chart in a separate pane ✅ Pine Script v5 compatible 🧠 Why This Matters: Tracking the XAUUSD/SPX ratio gives deeper insight into macro trends, inflation hedge behavior, and market sentiment. A rising ratio can signal weakness in equities and strength in precious metals — a key trend for long-term investors and macro traders.
Pine Script® indicator
by RKF-Trader
BTC & SPX vs Yield Curve: Recession Risk ZonesBTC & SPX vs Yield Curve – Recession Risk Zones This tool helps you track Bitcoin (BTC) and the S&P 500 (SPX) against key macro signals from the U.S. yield curve to spot potential recession risks. 🟪 Color Legend: 🔴 Red = Yield curve is inverted (warning starts) 🟡 Yellow = Projected 6–18 month recession risk (if inversion still active) 🟠 Orange = Active 6–18 month risk window (after inversion ends) 💜 Fuchsia = Real historical U.S. recessions 📈 What’s Plotted: 🔵 BTCUSD (blue line) – Normalized price 🟢 S&P 500 (green line) – Normalized price 🟠 10Y–2Y Yield Spread – Macro signal for risk ✅ Use it to: Spot macro pressure zones See how BTC and SPX behave around economic stress Stay cautious when red/orange/yellow areas appear Let me know if you'd like to enable toggles to hide/show BTC or SPX independently!
Pine Script® indicator
by Korax
Volatility Inverse Correlation CandleThis is an educational tool that can help you find direct or inverse relations between two assets. In this case I am using VIX and SPX . The way it works is the next one : So I am looking at the current open value of VIX in comparison with the previous close ( if it either above or below) and after on the SPX I am looking into the history and see for example which type of candle we had in respect with the opening value from VIX . So for example, lets imagine that today is monday, and the weekly open value from VIX was higher than previous friday close value. Now I am going to see with the inverse correlation , if based on this idea, the current weekly candle from SPX finished in a bear candle. The same can be applied for the bearish situation, so if we had an open from VIX lower than previous close, we are looking to check the SPX bull candle accuracy. At the same time, for a different type of calculation I have added an internal lookup into heikin ashi values. If you have any questions please let me know !
Pine Script® indicator
by exlux
vix_vx_regressionAn example of the linear regression library, showing the regression of VX futures on the VIX. The beta might help you weight VX futures when hedging SPX vega exposure. A VX future has point multiplier of 1000, whereas SPX options have a point multiplier of 100. Suppose the front month VX future has a beta of 0.6 and the front month SPX straddle has a vega of 8.5. Using these approximations, the VX future will underhedge the SPX straddle, since (0.6 * 1000) < (8.5 * 100). The position will have about 2.5 ($250) vega. Use the R^2 (coefficient of determination) to check how well the model fits the relationship between VX and VIX. The further from one this value, the less useful the model. (Note that the mini, VXM futures also have a 100 point multiplier).
Pine Script® indicator
by taylor_o
Buffett IndicatorThis is an open-source version of the Buffett indicator. The old version was code-protected and broken, so I created another version. It's computed simply as the entire SPX 500 capitalization divided by the US GDP. Since TradingView does not have data for the SPX 500 capitalization, I used quarterly values of SPX devisors as a proxy. I tried to create another version of the Buffett indicator for other countries/indexes, but I can't find the data. If you can help me find data for index divisors, I can add more choices to this indicator. It's interesting to see how this indicator's behavior has changed in the last few years. Levels that looked crazy are not so crazy anymore. Disclaimer Please remember that past performance may not be indicative of future results. Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting. This post and the script don’t provide any financial advice.
Pine Script® indicator
by QuantNomad
1
Comparaison DXY, VIX, SPX, DJI, GVZPine Script indicator compares the normalized values of DXY, VIX, SPX, DJI, and GVZ indices on a single scale from 0 to 100. Here's a breakdown of what it does: Data Requests: Gets closing prices for: US Dollar Index (DXY) VIX Volatility Index S&P 500 (SPX) Dow Jones Industrial Average (DJI) Gold Volatility Index (GVZ) Normalization: Each index is normalized using a 500-period lookback to scale values between 0-100, making them comparable despite different price scales. Visualization: Plots each normalized index with distinct colors Adds a dotted midline at 50 for reference Uses thicker linewidth (2) for better visibility Timeframe Flexibility: Works on any chart timeframe since it uses timeframe.period This is useful for: Comparing relative strength/weakness between these key market indicators Identifying divergences or convergences in their movements Seeing how different asset classes (currencies, equities, volatility) relate You could enhance this by: Adding correlation calculations between pairs Including options to adjust the normalization period Adding alerts when instruments diverge beyond certain thresholds Including volume or other metrics alongside price
Pine Script® indicator
by mjarry8123
Market Inner Strength IndexThe "Market Inner Strength Index" is an indicator designed to visually represent the market strength by analyzing the six major sectors: XLK, XLV, XLF, XLY, XLC and XLI. These sectors represent more than 80% of the SPX index, making their performance crucial for understanding overall market conditions. The indicator calculates the individual strengths of these sectors and combines them to provide an overall market strength index, helping to identify scenarios of sector rotation, euphoria, or panic. Rationale: The six major sectors (XLK, XLV, XLF, XLY, XLC, XLI) are essential as they encompass a significant portion of the SPX index. Typically, money rotates among these sectors, meaning some sectors grow while others decline. Rare occasions where all sectors move in the same direction can indicate market-wide euphoria (upwards) or panic (downwards). The Market Inner Strength Index helps track sector performance and identify these scenarios. Methodology: Script requests current timeframe data for each of the sectors and assigns scores, based on its performance. It will work best on the daily and higher timeframes but can also be used on the lower timeframes. Score assignment: If the sector is green (positive performance) for the given timeframe, it receives positive points. If the sector is red (negative performance), it receives negative points. If the current close price is above the previous period high, additional positive points are assigned. If the current close price is below the previous period low, additional negative points are assigned. The scores for the six sectors are averaged to compute a total score, which is plotted on the chart. A table displays the performance of each sector, color-coded based on their scores for the last period. Parameters: Neutral Zone : Define the neutral zone threshold. Heikin Ashi : Option to use Heikin Ashi candles instead of normal ones. Show Divergency : Option to show divergences on the chart. Divergence occurs when the SPY is bullish, but the sector score is bearish, or vice versa. This option will only work on SPY chart. Sector selections : Enable/disable specific sectors in score calculation.
Pine Script® indicator
by hermes_trisme
3
True Range/Expected MoveThis indicator plots the ratio of True Range/Expected Move of SPX. True Range is simple the high-low range of any period. Expected move is the amount that SPX is predicted to increase or decrease from its current price based on the current level of implied volatility. There are several choices of volatility indexes to choose from. The shift in color from red to green is set by default to 1 but can be adjusted in the settings. Red bars indicate the true range was below the expected move and green bars indicate it was above. Because markets tend to overprice volatility it is expected that there would be more red bars than green. If you sell SPX or SPY option premium red days tend to be successful while green days tend to get stopped out. On a 1D chart it is interesting to look at the clusters of bar colors.
Pine Script® indicator
by robertsullivan1956
1
Investments/swing trading strategy for different assetsStop worrying about catching the lowest price, it's almost impossible!: with this trend-following strategy and protection from bearish phases, you will know how to enter the market properly to obtain benefits in the long term. Backtesting context: 1899-11-01 to 2023-02-16 of SPX by Tvc. Commissions: 0.05% for each entry, 0.05% for each exit. Risk per trade: 2.5% of the total account For this strategy, 5 indicators are used: One Ema of 200 periods Atr Stop loss indicator from Gatherio Squeeze momentum indicator from LazyBear Moving average convergence/divergence or Macd Relative strength index or Rsi Trade conditions: There are three type of entries, one of them depends if we want to trade against a bearish trend or not. ---If we keep Against trend option deactivated, the rules for two type of entries are:--- First type of entry: With the next rules, we will be able to entry in a pull back situation: Squeeze momentum is under 0 line (red) Close is above 200 Ema and close is higher than the past close Histogram from macd is under 0 line and is higher than the past one Once these rules are met, we enter into a buy position. Stop loss will be determined by atr stop loss (white point) and break even(blue point) by a risk/reward ratio of 1:1. For closing this position: Squeeze momentum crosses over 0 and, until squeeze momentum crosses under 0, we close the position. Otherwise, we would have closed the position due to break even or stop loss. Second type of entry: With the next rules, we will not lose a possible bullish movement: Close is above 200 Ema Squeeze momentum crosses under 0 line Once these rules are met, we enter into a buy position. Stop loss will be determined by atr stop loss (white point) and break even(blue point) by a risk/reward ratio of 1:1. Like in the past type of entry, for closing this position: Squeeze momentum crosses over 0 and, until squeeze momentum crosses under 0, we close the position. Otherwise, we would have closed the position due to break even or stop loss. ---If we keep Against trend option activated, the rules are the same as the ones above, but with one more type of entry. This is more useful in weekly timeframes, but could also be used in daily time frame:--- Third type of entry: Close is under 200 Ema Squeeze momentum crosses under 0 line Once these rules are met, we enter into a buy position. Stop loss will be determined by atr stop loss (white point) and break even(blue point) by a risk/reward ratio of 1:1. Like in the past type of entries, for closing this position: Squeeze momentum crosses over 0 and, until squeeze momentum crosses under 0, we close the position. Otherwise, we would have closed the position due to break even or stop loss. Risk management For calculating the amount of the position you will use just a small percent of your initial capital for the strategy and you will use the atr stop loss for this. Example: You have 1000 usd and you just want to risk 2,5% of your account, there is a buy signal at price of 4,000 usd. The stop loss price from atr stop loss is 3,900. You calculate the distance in percent between 4,000 and 3,900. In this case, that distance would be of 2.50%. Then, you calculate your position by this way: (initial or current capital * risk per trade of your account) / (stop loss distance). Using these values on the formula: (1000*2,5%)/(2,5%) = 1000usd. It means, you have to use 1000 usd for risking 2.5% of your account. We will use this risk management for applying compound interest. In settings, with position amount calculator, you can enter the amount in usd of your account and the amount in percentage for risking per trade of the account. You will see this value in green color in the upper left corner that shows the amount in usd to use for risking the specific percentage of your account. Script functions Inside of settings, you will find some utilities for display atr stop loss, break evens, positions, signals, indicators, etc. You will find the settings for risk management at the end of the script if you want to change something. But rebember, do not change values from indicators, the idea is to not over optimize the strategy. If you want to change the initial capital for backtest the strategy, go to properties, and also enter the commisions of your exchange and slippage for more realistic results. If you activate break even using rsi, when rsi crosses under overbought zone break even will be activated. This can work in some assets. ---Important: In risk managment you can find an option called "Use leverage ?", activate this if you want to backtest using leverage, which means that in case of not having enough money for risking the % determined by you of your account using your initial capital, you will use leverage for using the enough amount for risking that % of your acount in a buy position. Otherwise, the amount will be limited by your initial/current capital--- Some things to consider USE UNDER YOUR OWN RISK. PAST RESULTS DO NOT REPRESENT THE FUTURE. DEPENDING OF % ACCOUNT RISK PER TRADE, YOU COULD REQUIRE LEVERAGE FOR OPEN SOME POSITIONS, SO PLEASE, BE CAREFULL AND USE CORRECTLY THE RISK MANAGEMENT Do not forget to change commissions and other parameters related with back testing results! Some assets and timeframes where the strategy has also worked: BTCUSD : 4H, 1D, W SPX (US500) : 4H, 1D, W GOLD : 1D, W SILVER : 1D, W ETHUSD : 4H, 1D DXY : 1D AAPL : 4H, 1D, W AMZN : 4H, 1D, W META : 4H, 1D, W (and others stocks) BANKNIFTY : 4H, 1D, W DAX : 1D, W RUT : 1D, W HSI : 1D, W NI225 : 1D, W USDCOP : 1D, W
Pine Script® strategy
by StrategiesForEveryone
4
Top 40 constituents of S&P 500 IndexDisplays real-time candles of top 40 constituents of S&P 500 Index ( TVC:SPX ) for a given time frame, side-by-side. This gives an overall idea of breadth and depth of market movements in the time-frame. Please note that, this is not a standard chart rendered bar-wise and may take time to load as it requests multiple securities. You could modify the contents, from settings, to include stocks from your portfolio or indices of different sectors.
Pine Script® indicator
by iravan
2
Vix Jump for Selling Puts or Buying CallsThis script aims to identify optimal times when to write Puts for premium, for example using the SPX Weeklies model or simply buying Calls. Not perfect but provides some additional confidence when playing Puts on SPX or the Wheel on SPY. What it does: We compare current VIX with a lookback VIX for X% delta. If there is a jump of say 20% over a defined period then that would indicate an opportunity to sell Puts, run a straddle or buy Calls. We use VVIX as a check to stop to many false positives ie VVIX falls of faster than VIX. You can also use this loosely as a bottom finder.
Pine Script® indicator
by jroche1973
3
ADD for SPX intraday (NYSE Adv-Decl) -Tom1traderThis is the NYSE Advancers - decliners which the SPX pretty much follows. You can chart it like any index (ADD -NYSE $ADV MINUS $DECL) but I find it more useful in a separate panel with colors for direction. The level gives an idea of days move (example: plus or minus 500 is not much movement through the session) but I follow the direction as when more stocks advance (green) or decline (red) the index tends to track it pretty closely. On SPX, SPY and correlateds - very useful for intra-day trading (Scalping or 0DTE option trades) but not for higher time frames at all. If you chart the ADD in a chart and compare 5 minute to daily you will see what I mean. I left it at 5 minutes timeframe which displays well on any intraday chart. You can change it by changing the "5" in the security function on line 13 to what you want ("1" 1 minute, "15" 15 minutes) or change it to timeframe.period (no quotes) so that it will follow the timeframe of the current chart. I like 5 min as it displays better on higher timeframes i.e. 15 min. or hour. A simple moving average with a length of 10 is added to help gauge momemtum. Hope this helps with trading or scripting ideas, questions or feed back welcome. Keep Smiling.
Pine Script® indicator
by Tom1trader
7
(JS)S&P 500 Volatility Oscillator For Options 2.0I am going to start taking requests to open source my indicators and they will also be updated to Version 4 of Pinescript. I added some features to the original code such the ability to smooth the oscillator and select the look back periods for the historical volatility. Link to original: Original post: "The idea for this started here: www.tradingview.com with the user @dime This should only be used on SPX or SPY (though you could use it on other things for correlation I suppose) given that the instrument used to create this calculation is derived from the S&P 500 (thank you VIX ). There's a lot of moving parts here though, so allow me to explain... First: The main signal is when Implied Volatility (from VIX ) drops beneath Historical Volatility - which is what you want to see so you aren't purchasing a ton of premium on long options. Green and above 0 means that IV% has dropped lower than Historical Volatility . (this signal, for example, would suggest using a Long Call or Put depending on your sentiment) Second: The green line running underneath zero is the bottom portion of the "Average True Range" derived from the values used to create the oscillator. the closer the bottom histogram is to the green line, the more "normal" IV% is. Obviously, if this gets far away from the line then it could be setting up nicely to short options and sell the IV premium to someone else. (this signal, for example, would suggest using something like a Bull Put Spread) Third: The red background along with the white line that drops down below zero signals when (and how far) the IV% from 3 months out (from VIX3M ) is less than the current IV%. This would signal the current environment has IV way too high, a signal to short options once again (and don't take any long option positions!). Tried to make this simple, yet effective. If you trade options on SPX , SPY , even ES1! futures - this is a tool tailored specifically for you! As I said before, if you want you can use it for correlation on other securities. Any other ideas or suggestions surrounding this, please let me know! Enjoy! Feb 17, 2019 Release Notes: Cosmetic update for a much cleaner look: -Replaced the "HIGH IV" with a simlple "H" -Now the white line is constantly showing you the relationship between VIX and VIX3M - when VIX is greater than VIX3M the background still goes red -However, now when VIX drops below Historical Volatility, the background is bright green -When both above are true - it's dark green -The Average True Range on the bottom is now a series of crosses"
Pine Script® indicator
by J-Streak
4
ES to SPX Lead (RTH Adaptive)Very simple script designed especially to trade CFD but also scalping. Only RTH (you'll understand why) Not a stand-alone indicator, e.g., an external event may hit the index and /ES leading nature will become meaningless. Same with a sudden crash on a Mag7 stock. Uses Z Score to evaluate if /Es is leading SPX (or not) and /ES VWAP to establish bullish (+1) or bearish territory (-1). Histogram is the product of Z Score times VWAP status, red or green depending. Z score goes from -2 to +2. Zscore reading: 0.4 < |Z| < 1.2 is the trading zone. |Z| <0.4 is sort of neutral shifting gears zone, a no-trade and may be transition moment. Middle numbers show max. limits based on actual volatility (i.e. when to exit and when definitely not to enter a trade). Grey stripes is NO TRADE zone. Final number is the composite histogram value. So: Textbook bullish: /ES above VWAP and Z Score positive Textbook negative: /ES below VWAP and Z score negative If Green Histogram & negative Z Score, you may enter bearish pullback trades making sure Z score is in the sweet spot bracket. If Red histogram & negative Z score, it's a conflict state, signals are not alined. Holds a bullish nature but it may be a warning sign. Script produced by Chat GPT after several iterations.
Pine Script® indicator
by dbirrellr
Iron Fly SPX 0DTE Strategy🦋 Iron Fly 0DTE Strategy A simple indicator that tells you when to open and close Iron Fly options trades on SPX. Get alerts, execute manually in your broker. What Does This Do? This indicator watches the market and sends you alerts: "OPEN" alert = Good time to sell an Iron Fly at this strike "CLOSE" alert = Time to close your position (take profit or cut loss) "EXPIRED" alert = End of day, let it expire or close manually You receive the exact strikes to trade. You execute in your broker. What is an Iron Fly? An Iron Fly is a bet that the price stays near a certain level until end of day. You collect money upfront (premium). If price stays close to your strike, you keep most of it. If price moves too far, you lose money (but your loss is capped). The Trade (4 legs): SELL a Call at the strike (collect premium) SELL a Put at the strike (collect premium) BUY a Call above for protection (costs premium) BUY a Put below for protection (costs premium) Net result: You collect premium. Max profit if price closes exactly at strike. Max loss is limited by your protective wings. For a detailed explanation with visuals, read: kriyafx.substack.com How to Use Step 1: Add to Chart Add indicator to SPX or SPY chart (1-5 minute timeframe recommended) Step 2: Set Up Alerts Create alert: Condition = "Iron Fly 0DTE" → "Any alert() function call" Step 3: Wait for OPEN Alert When you get an alert like this: 🦋 OPEN IRON FLY Strike: 6980 Wings: ±30 pts Sell 6980 Call Sell 6980 Put Buy 7010 Call Buy 6950 Put Step 4: Execute in Your Broker Open your options broker, find today's expiration (0DTE), and enter the 4-leg trade at the strikes shown. Check the premium you'll collect - make sure it's worth the risk. Step 5: Wait for CLOSE Alert The indicator monitors your position. When it's time to exit, you get: 🦋 CLOSE IRON FLY Strike: 6980 Reason: Price moved up past exit threshold Buy to Close 6980 Call Buy to Close 6980 Put Sell to Close 7010 Call Sell to Close 6950 Put Close your position in your broker. The Status Panel The box on your chart shows: Positions - How many flies are currently open Market - Is it a good time to trade? (GOOD/OK/RISKY/STOP) Wings - Current suggested wing width Exit @ - How far price can move before you should exit Trades - How many trades today vs your daily limit Settings Explained Entry Aggressiveness How often should new trades open? LOW = Fewer trades, more selective (beginner friendly) MID = Balanced (recommended) HIGH = More trades, more active (experienced) Exit Aggressiveness How long to hold before exiting? LOW = Exit early, smaller wins, protected (beginner friendly) MID = Balanced hold time (recommended) HIGH = Hold longer, bigger potential wins but more risk Max Concurrent Flies How many positions open at the same time? Start with 1-2. Max Trades Per Day Daily limit to prevent overtrading. Start with 5-10. When Does It Work Best? Sideways, choppy markets (price not trending hard) Normal volatility days (not FOMC, CPI, or earnings) US market hours (10 AM - 4 PM Eastern) When Does It NOT Work? Strong trending days (price keeps going one direction) High volatility events (news releases) When the indicator shows RISKY or STOP Important: Check Your Premium! The indicator tells you WHEN to trade and at WHAT strikes. It does NOT tell you the price. Before entering any trade: Check the premium in your broker Make sure the credit received is worth the max loss risk Consider bid-ask spreads (wider = harder to profit) If the premium looks bad, skip the trade Start Small Paper trade first to understand the signals Start with 1 fly at a time Use Entry LOW + Exit LOW when learning Only risk money you can afford to lose Risk Warning Options trading is risky. Iron Flies can lose money - your max loss is the wing width minus premium collected. This indicator gives signals, not guarantees. This is educational, not financial advice Past signals don't guarantee future results You can lose your entire premium Always know your max loss before entering Learn More Full strategy explanation with charts and examples: kriyafx.substack.com
Pine Script® indicator
by luiscaballero