vStrat Algo 1.0 (BETA)
vStrat Algo 1.0
The Very First Scalping/Intraday Trading Algo for Options
Note: If you have any favorite indicators that you use regularly and are helpful, feel free to use them in conjunction to this strategy.
Legend:
long = buy call
short = buy put
close entry = sell call/put
BULL = bullish engulfing
BEAR = bearish engulfing
OS = oversold
OB = overbought
Instructions:
1. You can choose to watch the 3 minute or 5 minute chart but be aware of the Pro’s and Con’s. It’s not recommended to use this strategy on the 1 minute chart, but this works on higher timeframes. Keep in mind that the signals will vary on each timeframe.
3 minute 5 minute
https://i.ibb.co/PwftMn9/3-min.jpg https://i.ibb.co/Zc4SDHj/5-min.jpg
2. It’s best to use this strategy right at market open. If a “long” (buy CALLS) or “short” (buy PUTS) signal was given at pre-market, I do not recommend taking it. Only take signals once the market opens. If you really wish to take the signal that was given 1-5 minutes before the market opened, you most definitely can, but its’s just riskier. What I would do is, wait 3-10 minutes after market open and if one Moving Average is respecting the other and holding above or below it, you can enter especially if the blow is bullish, the vStrat Algo 1.0 will also tell you if the candles are bearish or bullish. Use your best judgement.
https://i.ibb.co/XkSMKY8/1.jpg [
3. You do not have to wait for the exit signal, everyone's risk management is different so take profits whenever you're green or hold as long as the short-term MA is still trending above or below the long-term MA and is not touching or bouncing off it.
https://i.ibb.co/ZHgMZRn/sideways.jpg
4. Avoid taking any signals from 11:30 AM ET - 2:30 PM ET, when stocks are trading sideways since the algo’s stop losses get triggered here due to the low volume.
https://i.ibb.co/RhZ4Z5G/take-profits.jpg
5. Lastly, there is no magic indicator or strategy, this algorithm is designed based on multiple conditions. Each signal gets triggered when ALL the conditions are met. This strategy is based off advanced moving averages, one that reduces lag and responds quicker than the simple and exponential ones, RSI value, S/R, pivot points, and a few others. I’m always looking for ways to improve this scalping algorithm so rest assured any complaints or suggestions will be taken and fixed as timely as possible. For best results, avoid trading with your emotions. If you’re a new user, open a small position, set a stop loss, and let the algorithm decide how you will trade it for that day. Keep doing this until you get more familiar with the script then slowly increase your position sizing, but do not invest money you can’t afford to lose. Play with the settings, change the lengths if you wish, but the script was created to provide the most accurate signals as it is. If you do decide to change these inputs, the signals will also be different. Take profits whenever you see fit, the goal is to have a green day and grow your account slowly but surely. If you make a profit, do not risk giving your money back to the market by overtrading. Always do your own due diligence and use your best judgement. Good luck, Traders!
DISCLAIMER: All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed, or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. Conduct your own due diligence or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed, or implied herein, are committed at your own risk, financial or otherwise.
The Very First Scalping/Intraday Trading Algo for Options
Note: If you have any favorite indicators that you use regularly and are helpful, feel free to use them in conjunction to this strategy.
Legend:
long = buy call
short = buy put
close entry = sell call/put
BULL = bullish engulfing
BEAR = bearish engulfing
OS = oversold
OB = overbought
Instructions:
1. You can choose to watch the 3 minute or 5 minute chart but be aware of the Pro’s and Con’s. It’s not recommended to use this strategy on the 1 minute chart, but this works on higher timeframes. Keep in mind that the signals will vary on each timeframe.
3 minute 5 minute
https://i.ibb.co/PwftMn9/3-min.jpg https://i.ibb.co/Zc4SDHj/5-min.jpg
2. It’s best to use this strategy right at market open. If a “long” (buy CALLS) or “short” (buy PUTS) signal was given at pre-market, I do not recommend taking it. Only take signals once the market opens. If you really wish to take the signal that was given 1-5 minutes before the market opened, you most definitely can, but its’s just riskier. What I would do is, wait 3-10 minutes after market open and if one Moving Average is respecting the other and holding above or below it, you can enter especially if the blow is bullish, the vStrat Algo 1.0 will also tell you if the candles are bearish or bullish. Use your best judgement.
https://i.ibb.co/XkSMKY8/1.jpg [
3. You do not have to wait for the exit signal, everyone's risk management is different so take profits whenever you're green or hold as long as the short-term MA is still trending above or below the long-term MA and is not touching or bouncing off it.
https://i.ibb.co/ZHgMZRn/sideways.jpg
4. Avoid taking any signals from 11:30 AM ET - 2:30 PM ET, when stocks are trading sideways since the algo’s stop losses get triggered here due to the low volume.
https://i.ibb.co/RhZ4Z5G/take-profits.jpg
5. Lastly, there is no magic indicator or strategy, this algorithm is designed based on multiple conditions. Each signal gets triggered when ALL the conditions are met. This strategy is based off advanced moving averages, one that reduces lag and responds quicker than the simple and exponential ones, RSI value, S/R, pivot points, and a few others. I’m always looking for ways to improve this scalping algorithm so rest assured any complaints or suggestions will be taken and fixed as timely as possible. For best results, avoid trading with your emotions. If you’re a new user, open a small position, set a stop loss, and let the algorithm decide how you will trade it for that day. Keep doing this until you get more familiar with the script then slowly increase your position sizing, but do not invest money you can’t afford to lose. Play with the settings, change the lengths if you wish, but the script was created to provide the most accurate signals as it is. If you do decide to change these inputs, the signals will also be different. Take profits whenever you see fit, the goal is to have a green day and grow your account slowly but surely. If you make a profit, do not risk giving your money back to the market by overtrading. Always do your own due diligence and use your best judgement. Good luck, Traders!
DISCLAIMER: All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed, or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. Conduct your own due diligence or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed, or implied herein, are committed at your own risk, financial or otherwise.
Versionsinformation:
*"close entry" signals will now be given before a potential pullback so you don't get IV crushed and secure your profits.
*You can keep holding even after the "close entry" signal but that's totally up to you. Use the OB, OS, BULL, and BEAR indicators as a guide if you choose to hold.
*You can keep holding even after the "close entry" signal but that's totally up to you. Use the OB, OS, BULL, and BEAR indicators as a guide if you choose to hold.
Versionsinformation:
More profit probability (40% - 60%) as long as you avoid trading from 11 AM ET - 2 PM ET.
Versionsinformation:
I didn't like that the updated script gave too many signals because it's gonna confuse a lot of people. My script will try to give you an accurate entry as possible but everyone's profit goal is different so I suggest you sell whenever you hit your goal. ALWAYS SET A STOP LOSS.
Versionsinformation:
Pay attention to OB, OS, BULL and BEAR signals.
Versionsinformation:
Take profits modified!
Versionsinformation:
*Removed the vertical crossover (green) and crossunder (red) highlights.
*Removed the BULL and BEAR indicators to make the chart look less busy.
*The algorithm will try to maximize your profits and wait for a crossover or crossunder to give you an exit signal, so once you're green, IT'S UP TO YOU TO KNOW WHEN TO SELL, I left the OVERSOLD (OS) and OVERBOUGHT (OB) indicators to help you decide. I highly suggest adding another indicator, the "MACD Crossover" by HPotter and setting the inputs to: Fast - 9. Slow - 21, Length - 9 or whatever is more helpful to you, so you'll have an idea of whether it's a bullish or bearish divergence.
*ALWAYS SET A STOP LOSS AND TAKE PROFITS.
*DO NOT OVERTRADE.
*Removed the BULL and BEAR indicators to make the chart look less busy.
*The algorithm will try to maximize your profits and wait for a crossover or crossunder to give you an exit signal, so once you're green, IT'S UP TO YOU TO KNOW WHEN TO SELL, I left the OVERSOLD (OS) and OVERBOUGHT (OB) indicators to help you decide. I highly suggest adding another indicator, the "MACD Crossover" by HPotter and setting the inputs to: Fast - 9. Slow - 21, Length - 9 or whatever is more helpful to you, so you'll have an idea of whether it's a bullish or bearish divergence.
*ALWAYS SET A STOP LOSS AND TAKE PROFITS.
*DO NOT OVERTRADE.
Versionsinformation:
*There won't be a "close entry short" signal anymore" because TradingView won't display both "close entry short" and "long" signals at the same bar. If you get an entry for short, you can sell any time after or you can wait for the "long" signal instead, it's the same as the "close entry short".
Versionsinformation:
*Updated the chart appearance.
Versionsinformation:
UPDATES:
- converted the entire script to Version 4
- exit signal for short position added and will show up as "closeShort" (you do not have to follow the signals if you think it still has more room for a downside)
- real-time alerts on "goLong", "goShort", "closeLong", and "closeShort" added
- install the TradingView app to receive notifications on your phone
Creating Real-Time Alerts:
1. Open the chart(s) and choose which timeframe you want to receive alerts on.
2. Hover your cursor to vStrat Algo 1.0 BETA on your indicators and click the three dots on the far right then click "Add Alert on vStrat Algo 1.0 BETA".
https://ibb.co/8s8XnfY
3. An alert box will pop up and you need to delete everything that is written inside the "Message" box then choose how you want to receive the notifications, but do not create the alert yet. Proceed to Step 4.
https://ibb.co/19TKwDx
4. Paste this input to the "Message" box: {{ticker}}, {{strategy.order.id}}, {{strategy.order.comment}} then click "Create".
https://ibb.co/C6Vd2PK
5. You now created real-time alerts on that ticker whenever any signal is triggered. Repeat the same process on another ticker you wish to receive alerts on.
- converted the entire script to Version 4
- exit signal for short position added and will show up as "closeShort" (you do not have to follow the signals if you think it still has more room for a downside)
- real-time alerts on "goLong", "goShort", "closeLong", and "closeShort" added
- install the TradingView app to receive notifications on your phone
Creating Real-Time Alerts:
1. Open the chart(s) and choose which timeframe you want to receive alerts on.
2. Hover your cursor to vStrat Algo 1.0 BETA on your indicators and click the three dots on the far right then click "Add Alert on vStrat Algo 1.0 BETA".
https://ibb.co/8s8XnfY
3. An alert box will pop up and you need to delete everything that is written inside the "Message" box then choose how you want to receive the notifications, but do not create the alert yet. Proceed to Step 4.
https://ibb.co/19TKwDx
4. Paste this input to the "Message" box: {{ticker}}, {{strategy.order.id}}, {{strategy.order.comment}} then click "Create".
https://ibb.co/C6Vd2PK
5. You now created real-time alerts on that ticker whenever any signal is triggered. Repeat the same process on another ticker you wish to receive alerts on.
Versionsinformation:
Changes:
- converted the entire script to Version 4
- exit signal for short position added and will show up as "closeShort" (you do not have to follow the signals if you think it still has more room for a downside)
- real-time alerts on "goLong", "goShort", "closeLong", and "closeShort" added
- install the TradingView app to receive notifications on your phone
Creating Real-Time Alerts:
1. Open the chart(s) and choose which timeframe you want to receive alerts on.
2. Hover your cursor to vStrat Algo 1.0 BETA on your indicators and click the three dots on the far right then click "Add Alert on vStrat Algo 1.0 BETA".
https://ibb.co/8s8XnfY
3. An alert box will pop up and you need to delete everything that is written inside the "Message" box then choose how you want to receive the notifications, but do not create the alert yet. Proceed to Step 4.
https://ibb.co/19TKwDx
4. Paste this input to the "Message" box: {{ticker}}, {{strategy.order.id}}, {{strategy.order.comment}} then click "Create".
https://ibb.co/C6Vd2PK
5. You now created real-time alerts on that ticker whenever any signal is triggered. Repeat the same process on another ticker you wish to receive alerts on.
- converted the entire script to Version 4
- exit signal for short position added and will show up as "closeShort" (you do not have to follow the signals if you think it still has more room for a downside)
- real-time alerts on "goLong", "goShort", "closeLong", and "closeShort" added
- install the TradingView app to receive notifications on your phone
Creating Real-Time Alerts:
1. Open the chart(s) and choose which timeframe you want to receive alerts on.
2. Hover your cursor to vStrat Algo 1.0 BETA on your indicators and click the three dots on the far right then click "Add Alert on vStrat Algo 1.0 BETA".
https://ibb.co/8s8XnfY
3. An alert box will pop up and you need to delete everything that is written inside the "Message" box then choose how you want to receive the notifications, but do not create the alert yet. Proceed to Step 4.
https://ibb.co/19TKwDx
4. Paste this input to the "Message" box: {{ticker}}, {{strategy.order.id}}, {{strategy.order.comment}} then click "Create".
https://ibb.co/C6Vd2PK
5. You now created real-time alerts on that ticker whenever any signal is triggered. Repeat the same process on another ticker you wish to receive alerts on.
Versionsinformation:
Official Release
Versionsinformation:
*Less fakeouts on the default input settings (5, 15)
*Works better on the 5 minute timeframe
*Works better on the 5 minute timeframe
Versionsinformation:
UPDATES:
*New MA Cloud feature - trend coloring, you can disable this in the algo settings
*Optimized entries and exits but signals will vary on each timeframe
*Customize the input settings to fit your trading needs but it works best on default settings if you are scalping
*The higher the timeframe, the higher the inputs should be
*You do not need to close your short positions on the first "closeShort" signal you see, the algo will just tell you to secure your profits on the first OS (Oversold) candle that forms, feel free to keep holding if you see there's still room for a downside
*Pay attention to the OB and OS indicators, they are very helpful when executing trades
If you want your chart to look like mine:
*The gradient background on the chart is just in the chart settings (not algo settings)
*Untick "Quantity" in the algo settings, Style > Quantity
*Untick "MA #1" and "MA#2" to get rid of redundant MA's (the new MA feature already has them in the chart)
Remember, there are no magic indicators and "best" timeframes. Use your best judgement.
*New MA Cloud feature - trend coloring, you can disable this in the algo settings
*Optimized entries and exits but signals will vary on each timeframe
*Customize the input settings to fit your trading needs but it works best on default settings if you are scalping
*The higher the timeframe, the higher the inputs should be
*You do not need to close your short positions on the first "closeShort" signal you see, the algo will just tell you to secure your profits on the first OS (Oversold) candle that forms, feel free to keep holding if you see there's still room for a downside
*Pay attention to the OB and OS indicators, they are very helpful when executing trades
If you want your chart to look like mine:
*The gradient background on the chart is just in the chart settings (not algo settings)
*Untick "Quantity" in the algo settings, Style > Quantity
*Untick "MA #1" and "MA#2" to get rid of redundant MA's (the new MA feature already has them in the chart)
Remember, there are no magic indicators and "best" timeframes. Use your best judgement.