This indicator can help you confidently open and close options positions. Note that you should set stop a little below midline EMA . Risk reward for good signals is fairly consistent in profit. Most of the simulations I ran got between 1:2 and 1:4 profits. The losers usually can be avoided by making sure you are not in a choppy trading channel. Wait for EMAs to start separating and don't blindly follow every buy/sell.
3 wave EMA + Clouds: Defaults: EMA 8/32/64
Signals (off by default - turn on in settings): Buy Call/Sell Call (open/exit call positions) Buy Put/Sell Put (open/exit put positions)
Enter signals bullish: Close over Middle EMA AND Short EMA > Middle EMA > Long EMA
Exit signals bullish: Close under Middle EMA OR trend turns bearish (Short EMA < Middle EMA < Long EMA )
Enter signals bearish: Close under Middle EMA AND Short EMA < Middle EMA < Long EMA
Exit signals bearish: Close over Middle EMA OR Short EMA > Middle EMA > Long EMA
great indicator! is there any way to change the color of the ema lines themselves from red to green depending on their slope?
SCSouthTexas
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Really interesting indicator! Just foud it. Is there a way to turn on/off certain strategies, as in turning off selling naked puts/calls? I keep my chart background light, so changing the signal text to black or another color would be helpful to visualize. Thanks again for developing this!
AmandasTradesBang
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Hello how would I edit color of price level labels on scale to match ema cloud colors? Love this buy the way, first tool in my kit!!!
sagenterprises89
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Is there a way to change the colors and size of the of the signals to make the, more visible? Love the cloud
dciv
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Hey genome1776,
Is there anyway to filter to per-market and aftermarket?
genome1776
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@dciv, not sure exactly what you mean. In trading view you can show and hide extended trading hours. Should do the trick for you.
dciv
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@genome1776, yes, that also works, though it could be a little pesky since the script also signals buying calls/puts during those hours as well. I typically rely on those pre & after!
If it's something you can do, awesome, if not, totally understandable!
aaggarwal8186819
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Hi, I am not seeing buy call/sell call indicator. How do i make them show?