Jerry J8 30-123 SPY Scalping PRO

Please watch the J8 Scalping Tutorial Video below for a walkthrough on how these indicators work.

This study project is designed for scalping options that expire daily with bull put and bear call credit spreads on a 3 minute chart. The name 30_123 is a reference to 4 main criteria being met to give a green light for a potential trade. The 4 main criteria:
  • *30 = 30 minute trend
  • *1 = 3 minute trend
  • *2 = Moving average criteria
  • *3 = RSI criteria
  • 4 = Secondary trend. Bonus if in sync but not a requirement.
    * The strategy also utilizes momentum as a criteria.

This indicator is designed to trade options that expire daily including the SPY, IWM, QQQ, and NDX.

When 30_123 conditions are all green and all criteria are met a bull signal is created.
When 30_123 conditions are all red and criteria are met a bear signal is created.

The bull and bear signals are based on the stock/index price; BUT the actual orders are for option spreads that are normally based on a delta of approximately .15 to .25.

For example, if the SPY is at 400 we could have an order to sell a BULL PUT CREDIT SPREAD and I would likely sell the 398p and buy the 397p; The 398p delta would be approximately -.2. The spread position profits with any close over 398 and/or can be closed early with a bullish price move. IMPORTANT: If the SPY closed the day at $399 on the chart it would look like a loss based on the buy and sell orders but the spread would be a full profit since the close was above 398.

This script is used in conjunction with Jerry J8 30-123 Spy Scalping Dashboard Pro indicator which is the dashboard to give a visual for the 4 main criteria and makes things easier to understand.

The default time frame is 10:00 - 15:57 and can be controlled by the user. I do not enter trades in the first 30 minutes since that can be a very volatile period and you can easily configure the indicator and trading time frame based on how you trade.

  • Paint Bars: Turns on/off the candle coloring for the trend
  • Exits: Open orders can be closed with 3 different exit criteria and all should be left on. These exits are needed to provide multiple entry signals throughout the day. However, you want to close the spreads based on your own criteria and not on the indicator.
  • Criteria: Trend, moving averages, RSI settings, and trading time frames can all be adjusted.

Add "Jerry J8 30-123 Spy Scalping Dashboard Pro” indicator to show J8 criteria dashboard
Add "Jerry J8 MACD Optimal Entry Zone” indicator to show best range of entry
I also like to add "Jerry Momentum Dream" indicator to see the momentum

With this indicator we’re looking for the 30, 1, 2, and 3 criteria to be met which increases our likelihood of success. IMPORTANT. Never automatically enter a position without reviewing the other indicators and drawing our own conclusions. You want to choose the entries that are the most appealing to you that take into account volume, time of day, and risk/reward. Positions should be closed based on your risk/reward goals.

Indicators are not a magic pill and should be used to support trading decisions, not to make them for you. Past performance is not a guarantee of future returns. The results of individual stocks/indexes with any strategy do not constitute proof they will repeat in the future.

DISCLAIMER: The information contained in our scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. Trading and investing in the stock market and cryptocurrencies involves substantial risk of loss and is not suitable for every investor. I’m NOT a financial adviser. All trading strategies are used at your own risk.

Please Use the AUTHOR’s INSTRUCTIONS link below for more information.

NOTE: The PERFORMANCE SUMMARY below does not accurately reflect the trading strategy because the entry orders generated in the strategy are based on the stock price and our actual order is a credit spread that is profitable even if the price moves against us a little bit. What could show as a loss in the strategy could be a profit in the credit spread.


僅限作者授權的用戶訪問此腳本,並且通常需要付費。您可以將其增加到收藏腳本中,但是只有在向作者請求並獲得許可之後,才能使用它。 請與JerryTravels聯繫以獲取更多資訊,或按照以下作者的說明進行操作。





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