OPEN-SOURCE SCRIPT
Options Sniper Pro v1
Options Sniper Pro v1 — Indicator Summary
Options Sniper Pro v1 is an intraday momentum and trend-following indicator designed to identify higher-probability CALL and PUT option setups on liquid ETFs and stocks such as SPY, QQQ, and IWM.
The indicator works best when used during the New York trading session, especially during high-volume periods when momentum is strongest. It combines:
EMA Trend Analysis (9/21/200) – Identifies the overall market direction and avoids trading against major trends.
RSI Momentum Filter – Confirms buying or selling pressure.
Volume Confirmation – Helps identify moves supported by increased participation.
Pullback Entries – Looks for entries after price retraces toward the fast EMA before continuing the trend.
Candlestick Confirmation – Uses bullish/bearish engulfing patterns to improve entry timing.
Smart Money Concepts – Includes Order Blocks and Fair Value Gaps to highlight areas where institutional-style price reactions may occur.
ATR Risk Management – Automatically calculates stop-loss levels and 1R/2R/3R profit targets.
Dashboard Monitoring – Displays trend direction, RSI strength, volume conditions, and active signals.
Best Usage:
Timeframes: 5-minute, 15-minute, and 30-minute charts
Best Markets: SPY, QQQ, IWM, large-cap stocks with strong volume
Best Trading Window: 9:30 AM–11:30 AM and 2:00 PM–4:00 PM EST
Trading Style: Intraday options scalping and momentum trades
Ideal Setup:
✅ Wait for the dashboard to show trend alignment
✅ Enter CALLS when price is above VWAP/EMAs with strong volume and bullish confirmation
✅ Enter PUTS when price is below VWAP/EMAs with strong volume and bearish confirmation
✅ Use TP1 for partial profit and TP2/TP3 for runners
✅ Avoid low-volume chop and sideways markets
Purpose:
This indicator is designed to help traders filter out weak setups and focus on momentum-driven option opportunities with defined entries, exits, and risk management. It is best used as a trade confirmation tool, not as a standalone buy/sell system.
Options Sniper Pro v1 is an intraday momentum and trend-following indicator designed to identify higher-probability CALL and PUT option setups on liquid ETFs and stocks such as SPY, QQQ, and IWM.
The indicator works best when used during the New York trading session, especially during high-volume periods when momentum is strongest. It combines:
EMA Trend Analysis (9/21/200) – Identifies the overall market direction and avoids trading against major trends.
RSI Momentum Filter – Confirms buying or selling pressure.
Volume Confirmation – Helps identify moves supported by increased participation.
Pullback Entries – Looks for entries after price retraces toward the fast EMA before continuing the trend.
Candlestick Confirmation – Uses bullish/bearish engulfing patterns to improve entry timing.
Smart Money Concepts – Includes Order Blocks and Fair Value Gaps to highlight areas where institutional-style price reactions may occur.
ATR Risk Management – Automatically calculates stop-loss levels and 1R/2R/3R profit targets.
Dashboard Monitoring – Displays trend direction, RSI strength, volume conditions, and active signals.
Best Usage:
Timeframes: 5-minute, 15-minute, and 30-minute charts
Best Markets: SPY, QQQ, IWM, large-cap stocks with strong volume
Best Trading Window: 9:30 AM–11:30 AM and 2:00 PM–4:00 PM EST
Trading Style: Intraday options scalping and momentum trades
Ideal Setup:
✅ Wait for the dashboard to show trend alignment
✅ Enter CALLS when price is above VWAP/EMAs with strong volume and bullish confirmation
✅ Enter PUTS when price is below VWAP/EMAs with strong volume and bearish confirmation
✅ Use TP1 for partial profit and TP2/TP3 for runners
✅ Avoid low-volume chop and sideways markets
Purpose:
This indicator is designed to help traders filter out weak setups and focus on momentum-driven option opportunities with defined entries, exits, and risk management. It is best used as a trade confirmation tool, not as a standalone buy/sell system.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.