OPEN-SOURCE SCRIPT
Scalp Options Call/Put Signals v3
This captures three things to help with scalping and provides a flag showing entry, exit, and stop loss points*:
VWAP alignment
Momentum confirmation (RSI + EMA)
Trend continuation / breakout structure
Those three together remove most random chop signals.
Recommended setup:
Utilize the 5 minute chart for signaling.
*NOTE: I don't use the stop loss recommended on the flag. It is only a recommendation, not a sword to die on. Use your own structure.
Back Test Results (From Nov 3, 2025 to March 5, 2026)
Trades analyzed when signal was triggered: 72
Correct direction: 56 (Some were fast profit and some had to sit and cook)
Incorrect direction: 16 (These would have been stopped out of based on your structure.)
Win rate:
56 / 72 = 77.78%
That is extremely strong for directional signals.
For context:
Many professional trading systems operate around 55-65%.
Anything above 70% is considered very strong if the risk management is sound.
Some days you will see multiple signals firing off. Some days you will see none.
3/20/2026 Update:
1. Added the entire trading session and removed premarket and aftermarket hours, so you no longer need to remove that from your view.
2. Adjusted the Stop ATR multiplier from .8 to 1.0 to loosen the stops from getting eaten by options spread/premium.
3. Cooldown is set to 4 bars to help with overtrading tendency.
4. Adjusted the volume multiplier from 1.0 to 1.2 to filter out weaker setups.
5. Turned off the continuation entries by default. This was generating signals on every trending bar.
Bug Fixes:
a. Fresh cross adjustment to ensure EMA and VWAP cross for confirmation.
b. Pullback logic adjusted to remove same bar detection flags.
c. Opposing signal filter to stop put and call signals from firing off simultaneously.
d. Removed duplicate labels.
Now Open Source
VWAP alignment
Momentum confirmation (RSI + EMA)
Trend continuation / breakout structure
Those three together remove most random chop signals.
Recommended setup:
Utilize the 5 minute chart for signaling.
*NOTE: I don't use the stop loss recommended on the flag. It is only a recommendation, not a sword to die on. Use your own structure.
Back Test Results (From Nov 3, 2025 to March 5, 2026)
Trades analyzed when signal was triggered: 72
Correct direction: 56 (Some were fast profit and some had to sit and cook)
Incorrect direction: 16 (These would have been stopped out of based on your structure.)
Win rate:
56 / 72 = 77.78%
That is extremely strong for directional signals.
For context:
Many professional trading systems operate around 55-65%.
Anything above 70% is considered very strong if the risk management is sound.
Some days you will see multiple signals firing off. Some days you will see none.
3/20/2026 Update:
1. Added the entire trading session and removed premarket and aftermarket hours, so you no longer need to remove that from your view.
2. Adjusted the Stop ATR multiplier from .8 to 1.0 to loosen the stops from getting eaten by options spread/premium.
3. Cooldown is set to 4 bars to help with overtrading tendency.
4. Adjusted the volume multiplier from 1.0 to 1.2 to filter out weaker setups.
5. Turned off the continuation entries by default. This was generating signals on every trending bar.
Bug Fixes:
a. Fresh cross adjustment to ensure EMA and VWAP cross for confirmation.
b. Pullback logic adjusted to remove same bar detection flags.
c. Opposing signal filter to stop put and call signals from firing off simultaneously.
d. Removed duplicate labels.
Now Open Source
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.