PROTECTED SOURCE SCRIPT

APIBridge Long/Short Call Butterfly - Supertrend

Long / Short Call Butterfly

Alert Message : Copy the text in the field on top and replace it with everything in the message box of alert to set alerts

The script generates signal for long call butterfly , i.e., 1 ITM CE Buy, 2 ATM CE Sell, 1 OTM CE Buy.
Signal is generated as per Supertrend buying but can be modified as per client requirement to adjust to his conditions.
Distance from ATM can also be selected.
Backtest range is also included.

Strategy Parameters on tradingView

===========================Backtest Settings===========================

Choose whether to use backtesting or not and if you choose to use backtesting then the strategy will take trades only between starting and ending time according to logic

===========================Supertrend Settings===========================

1. Source : Choose the type of source to use while calculating the trend
2. Period : Choose the lookback period/number of previous candles to calculate the trend
3. Multiplier: Choose the value to multiply to trend indicator

===========================Intraday Time Settings===========================
1. Intraday Trade session : Choose the entry session for each trading day
2. End session : Choose the exit only session for each trading day

===========================Quantity Settings===========================
1. Lots to Trade : Enter the Quantity of lots to trade

===========================Option Settings===========================
1. Instrument Name : choose the option type
2. Base Symbol : Enter the base symbol to trade
3. Expiry Settings : Configure the Expiry Settings (the strategy won’t take trades after the expiry)
4. Choose distance from ATM : Choose the difference of OTM and ITM from ATM , if chosen 0, all the strikes will be ATM
5. Strike difference : Enter the difference between two consecutive strikes of the symbol as per option chain