All-in-One Multi-Indicator Straddle - Strangle StrategyAll-in-One Multi-Indicator Straddle – Strangle Strategy
Overview
All-in-One Multi-Indicator Straddle – Strangle Strategy is an analytical indicator designed for options premium analysis on Indian index derivatives. The script dynamically constructs option symbols based on user-selected index, expiry, and strikes, and visualizes the combined premium (Call + Put) or individual leg premium as candles.
On top of the premium structure, the indicator allows traders to optionally apply multiple technical indicators —EMA crossover, Supertrend, VWAP, RSI, and SMA—to generate structured buy and sell signals on the option premium itself.
This tool is intended strictly for educational and analytical purposes and does not execute trades.
Key Features
Dynamic Option Symbol Construction
Supports NIFTY, BANKNIFTY, FINNIFTY, MIDCPNIFTY, and BSX
User-defined expiry (day, month, year)
Custom Call and Put strike selection
Straddle / Strangle Premium Visualization
Combined Call + Put premium
Only Call premium
Only Put premium
Displayed as candle data for better price-action analysis
Multi-Indicator Confirmation Engine
EMA crossover (fast & slow)
Supertrend with adjustable ATR and factor
Session-reset VWAP on premium
RSI with customizable levels
SMA trend filter - Indicators can be enabled or disabled independently.
Signal Control Logic
One Buy and one Sell signal per trading day
Prevents repeated signals in the same direction
Signals are based on selected indicator confluence
Alerts
Built-in alert conditions for Buy and Sell signals
How It Works
The script builds option symbols using the selected index, expiry, and strike prices.
Option OHLCV data is fetched using request.security.
Depending on the selected mode: (1) Call and Put premiums are combined, or (2) A single leg is analyzed.
The resulting premium is plotted as candles.
Selected indicators are applied directly to the premium price.
Buy/Sell signals are generated only when all enabled conditions align.
Inputs Summary
Index & Expiry
Spot symbol
Expiry day, month, and year (string-based for accuracy)
Strike Selection
Call strike
Put strike
Combined / Only Call / Only Put mode
Indicators (Optional)
EMA (Fast & Slow lengths)
Supertrend (ATR length & factor)
VWAP (volume-weighted premium)
RSI (length, overbought & oversold levels)
SMA (length)
Important Notes & Limitations
This indicator does not place trades and is not a strategy.
Option symbols must exactly match broker-specific naming conventions supported by TradingView.
Data availability depends on TradingView’s option data coverage.
VWAP is session-based and resets on a new trading day.
Signals are analytical references only and should not be considered financial advice.
Intended Use
This indicator is best suited for:
Studying straddle and strangle premium behavior
Monitoring premium trends using technical indicators
Educational analysis of option premium dynamics
Users are encouraged to combine this tool with their own risk management and market understanding.
אינדיקטור Pine Script®






















