PROTECTED SOURCE SCRIPT
EEMANI - collect money strategy 1
This strategy is for stock market ONLY
Strategy: EEMANI ... Collect the money by selling Credit spreads - Tested on SPY index weekly options
This strategy is based on consecutive up and down strategy which is available in TradingView Built in indicator. list, i have added EMA filter to that.
Tested on SPY Hourly chart
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ENTRY:
1. when price is consecutively up 3 bars and price is close above EMA (defualt EMA is 8 )
2. consider selling PUT nearest weekly ( SPY weeklies are available for Monday, wednesday and Friday)
Example: if the signal occurs on Monday or Tuesday , Consider selling Wednesday PUT spread
3. PUT strike one leg is mentioned on the chart when signal occurs ( calculate the second value based on your comfortable spread distance, either 5 points or 10 points)
( OR You can chose PUT strikes using a bollinger band --- strike below the lower band )
EXIT:
1. You can wait until the spread expires worthless OR
2. Exit if the short leg is 0.01 OR
3. Exit when 50% of the premium is evaporated (this is to avoid any sudden down spikes )
4. Script is configured to exit after 16 Bars. (that is maximum number of Hourly bars for two days)
StopLoss:
1. when the price touches the Put short leg (as mentioned in entry signal) --- close the position
2. OR when the price touches the Put short leg --- You can defense the position by certain percentage by converting it to IronCondor ,
that means, sell the CALL credit spread ... chose the strikes above upper Bollinger Band
happy Trading
Warning: for educational purposes only
Strategy: EEMANI ... Collect the money by selling Credit spreads - Tested on SPY index weekly options
This strategy is based on consecutive up and down strategy which is available in TradingView Built in indicator. list, i have added EMA filter to that.
Tested on SPY Hourly chart
============================
ENTRY:
1. when price is consecutively up 3 bars and price is close above EMA (defualt EMA is 8 )
2. consider selling PUT nearest weekly ( SPY weeklies are available for Monday, wednesday and Friday)
Example: if the signal occurs on Monday or Tuesday , Consider selling Wednesday PUT spread
3. PUT strike one leg is mentioned on the chart when signal occurs ( calculate the second value based on your comfortable spread distance, either 5 points or 10 points)
( OR You can chose PUT strikes using a bollinger band --- strike below the lower band )
EXIT:
1. You can wait until the spread expires worthless OR
2. Exit if the short leg is 0.01 OR
3. Exit when 50% of the premium is evaporated (this is to avoid any sudden down spikes )
4. Script is configured to exit after 16 Bars. (that is maximum number of Hourly bars for two days)
StopLoss:
1. when the price touches the Put short leg (as mentioned in entry signal) --- close the position
2. OR when the price touches the Put short leg --- You can defense the position by certain percentage by converting it to IronCondor ,
that means, sell the CALL credit spread ... chose the strikes above upper Bollinger Band
happy Trading
Warning: for educational purposes only
סקריפט מוגן
סקריפט זה פורסם במקור סגור ותוכל להשתמש בו באופן חופשי. אתה יכול להגדירו כמועדף כדי להשתמש בו בגרף. אינך יכול להציג או לשנות את קוד המקור שלו.
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כתב ויתור
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