Options Momentum Signal

8 thg 10

Customizable Intraday Options Scalping Alert.

Several important, complementary indicators combined into one simple signal that pops up under a bar to indicate sustained momentum on a trend. It uses a combination of calculations based on the 1m VWAP, price increase in contrast to previous day's close, and customizable Volatility and Volume Data.

It has adjustable values for the % increase from last close (labeled as Pre-Mkt % Threshold), minimal candle body % to filter out weaker signals, RVOL threshold, minimum CVD (it's rolling, so functions in tandem with the CVD lookback value for the number of bars.)

It offers individual boxes that can be checked on or off to help filter out noise. Boxes are: Use 1m VWAP, Use CVD, 3-bar cooldown (reduces back-to-back signals, especially on shorter (1m, 2m, and 5m) charts), VWAP bounce option to catch bounces happening in real time before the candle closes, Use RVOL, and Use Rolling CVD. These can all be checked on or off and will create vastly different signals depending on what you are filtering for.

These indicators were chosen specifically as I feel they help most with option scalping and is intended to be used alongside a few other indicators for confirmation. Personally, I use a couple anchored VWAPs (highest high, session) as well as a FRAMA channel for confirmation. I also use the following to further confirm trends: TradingView’s RVOL, CVD, and Price Pattern Oscillators, in addition to Beardy Fred's TTM Squeeze Pro.

Hope this helps some people!

10 thg 10

Phát hành các Ghi chú

This script is a customizable momentum signal indicator designed to assist short-term traders in identifying high-probability bullish setups. It uses a combination of price action filters (body size, green candle, VWAP alignment), volume analysis (relative volume, CVD), and pre-market data to reduce noise and highlight meaningful opportunities.

Features include adjustable signal thresholds, VWAP bounce alerts, rolling CVD logic, and a built-in, on-chart data table showing real-time metrics for Pre-mkt % change, RSI delta, RVOL, CVD, and current volume. Ideal for scalpers and intraday traders who prefer rule-based alerts with built-in visual confirmations.

(Haven't found a good way to webhook or write an API to give live options data to the table (greeks, strike prices and expiry or premiums), but if anyone knows of a way, please message me as I think that would make this more complete).

Core Indicators & Calculations
1. Adjustable Pre-Market % Change - Calculated by price movement from the previous day’s close to the current session.

2. Adjustable Candle Body Size Filter - % Ratio between the candle’s body and full range to filter for shorter or longer bars.

3. Green Candle Confirmation - Only allows signals when the candle closes higher than it opened.

4. Adjustable (2-5 bars) Cooldown - Prevents back-to-back or clustered signals by enforcing a minimum bar gap between alerts (default: 3 bars).

5. Cumulative Volume Delta (CVD) (Toggleable filter: CVD must be > 0.1 to trigger signals) - Uses a rolling window to track buying vs. selling pressure represented by a positive or negative number. Made toggleable to allow for signal to trigger on negative value bars showing a potential rebound.

6. Toggleable VWAP (Volume Weighted Average Price) Filter - Optional confirmation that price is above VWAP, indicating institutional support. Initially part of the original calculation, but made it optional to allow for 1D+ charts.
Also a Toggleable VWAP bounce signal to filter triggers when price crosses VWAP intrabar.

7. Adjustable (1%-3% multiplier) RVOL (Relative Volume) - Calculated as current volume vs. 20-bar SMA of volume.