SPX ORB 60m → 0DTE Credit Spreads (Signals & Webhooks)

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SPX ORB 60m → 0DTE Credit Spreads (Signals & Webhooks)

This indicator implements a 60-minute Opening Range Breakout (ORB) workflow for SPX and maps the first breakout during a monitoring window to a same-day options credit-spread idea. It’s signal-only (no backtesting) and includes both visual planning tools and automation hooks (webhooks/alerts).

How it works

ORB window: 09:30–10:30 New York. The script builds ORB High/Low and fixes them at 10:30.

Monitoring window: 10:31–12:00 New York.

The first wick break picks direction:

Break above ORB High → bullish bias → PUT credit spread idea (short strike below ORB Low − offset).

Break below ORB Low → bearish bias → CALL credit spread idea (short strike above ORB High + offset).

One signal per day. The bar is tagged “Fired PUT/CALL”.

Key inputs

Spread width ($), strike step ($), and independent short-strike offsets for PUT/CALL.

Eligibility thresholds by % of 09:30 open or points (separate minima for PUT vs CALL), plus an “ignore thresholds” test mode.

Day-of-week filters per side.

Preview before fire: show gray dotted “hypothetical” strikes only when eligible (or always), or hide until the actual trigger.

If the chosen side is blocked by weekday filter, you can still display it disabled (gray).

Visuals

ORB Rectangle: from 10:30 to 16:00 NY spanning ORB High/Low; updates intraday and then stays fixed. Optional label shows the range in pts and %.

Executed lines & labels: customizable style and width; colorized after the first trigger.

“NOT ELIGIBLE” gray label (optional) when thresholds/day filters are not met.

Outcome tag at session close (informational): WIN/LOSE relative to the short strike.

ORB High/Low plotted with plot.style_linebr for clean session edges.

Probability box (informational)

Optional box displayed at the breakout with a 0–100% composite score from:

ORB/ATR size (capped),

ADX (Wilder calculation inside the script),

ATR regime vs a long SMA baseline.

All lengths, caps, weights, colors and opacity are configurable, including a time offset to place the box.

Automation

Two backends supported: DigitalOcean server.js or SignalStack (Tastytrade).

Optional limit_price per leg and time_in_force (day/gtc) for SignalStack.

Alertconditions provided for PUT / CALL signals so you can create alerts from the TradingView dialog.

Additionally, the script can emit alert() payloads on trigger (enable in settings) to drive your webhook.

Notes

Designed for intraday NY session; 1–15m charts are typical.

Signals are for automation/planning, not recommendations. Validate risk, fills, and routing.

Disclaimer
For educational/informational purposes only. Not financial advice. Options trading involves substantial risk.

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