Saravanan_Ragavan

Intrangle - Straddle / Strangle

Intrangle is an indicator to assist Nifty / Bank Nifty Option Writers / Sellers to identify the PE / CE legs to Sell for Straddle and Strangle positions for Intraday.
Basic Idea: (My Conclusion for making this Indicator)
1) Last 10 Years data says Nifty / Bank Nifty More than 66% of times Index are sideways or rangebound (within 1% day) .
2) Mostly, First one hour high and low working as good support and resistance .
Once First one hour complete, this indicator will show Strangle High (CE), Strangle Low (PE) and Straddle (CE/PE).
Straddle:
If you want to do straddle strategy, sell at the money strike (CE/PE) when price comes near to the straddle line (black line),
Strangle:
If you want to do Strangle strategy, sell Strangle High (CE) and Strangle Low (PE) when price comes near to the straddle line (black line). Both Strangle High and Low will be out of the money when price near to the straddle line (black line).

Adjustment: option adjustment to be done based on the price movement. Adjustment purely up to the user / trader.

Note1: If price not comes to near straddle line after first hour, better to stay light…

Note2: If first hour not giving wide High / Low, don’t use strangle strike based on this indicator. Straddle can be done any day with require adjustment / hedge. This Indicator is purely for education purpose, user / trader has to be back-tested before their start using it.

This indicator will work in Nifty / Bank Nifty only. Best Time frames are 3/5/15 Mins. This is purely made for Intraday

Happy Trading 😊

Script open-source

Dans le plus pur esprit de TradingView, l'auteur de ce texte l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur ! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par les règles internes. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

Vous voulez utiliser ce script sur un graphique ?

Commentaires

great ,can u make something for option buyers?
+3 Répondre
@nilanjan62, Thanks... Please check my tradingview profile page, you can find few other indicator works for buyers..
+4 Répondre
Really nice work for option trader
+1 Répondre
Saravanan_Ragavan tishapatel28
@tishapatel28, Thank You
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Example==35000 pe
Mean
Put buy or sell ??????
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GREAT WORK
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@KVSumann, Thank You
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How to use..kese use karna hai bhai
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Saravanan_Ragavan mauryashivnarayan4
@mauryashivnarayan4, Hi, please read the Indicator description, I have posted complete details about it.. Thanks
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