OPEN-SOURCE SCRIPT
BULLISH!! Low High Range Options Helper
This indicator is designed for range-based options trading, where price tends to rotate between a defined low and high rather than trend continuously. Its purpose is not to tell you what to trade, but to provide context for timing, specifically answering the question: if price is at a discount here, how much time should an option realistically have?
The script identifies a recent price range and plots three key levels. The range high represents the upper boundary of recent price action and often acts as a take-profit or resistance area. The range mid is the 50 percent equilibrium of the range and is intended as a confirmation level rather than an entry signal. The range low represents the discount zone, where risk is best defined for bullish options trades. This is the only area where options guidance is displayed.
When price touches the range low, the indicator calculates how long similar range rotations have taken in the past, adjusts that timing to the current chart timeframe, and applies a safety factor to reduce the risk of under-timing an options position. It then displays a suggested days-to-expiration label, such as 3 DTE, 4 DTE, 5 DTE, 6 DTE, 7 DTE, 10 DTE, or 14 plus. Shorter DTE values reflect faster expected rotations, while longer DTE values reflect slower, choppier, or more uncertain conditions. The goal is to help avoid the common mistake of buying options that do not have enough time to work.
A typical way to use this tool is to identify a clearly defined range, wait for price to reach the range low, note the DTE guidance shown on the chart, then wait for confirmation such as a reclaim of the range midpoint before considering a trade. Risk can then be managed with the range structure in mind, often targeting the range high in rotational environments. The indicator is most effective in sideways or mean-reverting markets rather than strong trends.
This script does not place trades, predict direction, or guarantee outcomes. It does not account for news events, earnings, implied volatility changes, or broader macro conditions. It is intended as a contextual tool to support disciplined decision-making, not as a standalone trading system.
Always trade smart. Manage position size, define risk before entering a trade, and avoid over-leveraging short-dated options. The objective is not to predict the market, but to consistently align price structure with realistic time expectations.
The script identifies a recent price range and plots three key levels. The range high represents the upper boundary of recent price action and often acts as a take-profit or resistance area. The range mid is the 50 percent equilibrium of the range and is intended as a confirmation level rather than an entry signal. The range low represents the discount zone, where risk is best defined for bullish options trades. This is the only area where options guidance is displayed.
When price touches the range low, the indicator calculates how long similar range rotations have taken in the past, adjusts that timing to the current chart timeframe, and applies a safety factor to reduce the risk of under-timing an options position. It then displays a suggested days-to-expiration label, such as 3 DTE, 4 DTE, 5 DTE, 6 DTE, 7 DTE, 10 DTE, or 14 plus. Shorter DTE values reflect faster expected rotations, while longer DTE values reflect slower, choppier, or more uncertain conditions. The goal is to help avoid the common mistake of buying options that do not have enough time to work.
A typical way to use this tool is to identify a clearly defined range, wait for price to reach the range low, note the DTE guidance shown on the chart, then wait for confirmation such as a reclaim of the range midpoint before considering a trade. Risk can then be managed with the range structure in mind, often targeting the range high in rotational environments. The indicator is most effective in sideways or mean-reverting markets rather than strong trends.
This script does not place trades, predict direction, or guarantee outcomes. It does not account for news events, earnings, implied volatility changes, or broader macro conditions. It is intended as a contextual tool to support disciplined decision-making, not as a standalone trading system.
Always trade smart. Manage position size, define risk before entering a trade, and avoid over-leveraging short-dated options. The objective is not to predict the market, but to consistently align price structure with realistic time expectations.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.