OPEN-SOURCE SCRIPT
Wheel Sniper
Wheel Sniper identifies high-probability zones to sell cash-secured puts on dips and covered calls on strength using Bollinger Bands and RSI reversals.
Blue signals highlight potential bottoming areas, while red signals mark extended rallies that may stall.
Designed for wheel strategy traders who want better timing—not more signals.
(my first attempt at creating an indicator)
Blue signals highlight potential bottoming areas, while red signals mark extended rallies that may stall.
Designed for wheel strategy traders who want better timing—not more signals.
(my first attempt at creating an indicator)
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.