0DTE Credit Spreads Indicator

Description:
This indicator is designed for SPX traders operating on the 15-minute timeframe, specifically targeting 0 Days-to-Expiration (0DTE) options with the intention to let them expire worthless.
It automatically identifies high-probability entry points for Put Credit Spreads (PCS) and Call Credit Spreads (CCS) by combining intraday price action with a custom volatility filter.

Key Features:

Optimized exclusively for SPX on the 15-minute chart.

Intraday volatility conditions adapt based on real-time VIX readings, allowing credit expectations to adjust to market environment.

Automatic visual labeling of PCS and CCS opportunities.

Built-in stop loss level display for risk management.

Optional same-day PCS/CCS signal allowance.

Fully adjustable colors and display preferences.

How It Works (Concept Overview):
The script monitors intraday momentum, relative volatility levels, and proprietary pattern recognition to determine favorable spread-selling conditions.
When conditions align, a PCS or CCS label appears on the chart along with a stop loss level.
VIX is used at the moment of signal to estimate the ideal option credit range.

Recommended Use:

SPX only, 15-minute timeframe.

Intended for 0DTE options held to expiration, though you may take profits earlier based on your own strategy.

Works best during regular US market hours.

Disclaimer:
This script is for informational and educational purposes only and is not financial advice. Trading options carries risk. Always perform your own analysis before entering a trade.