CE & PE Option Tracker_Z score

CE & PE Option Tracker_Z Score: A Comprehensive TradingView Indicator for Options TradingThe "CE & PE Option Tracker_Z Score" is a sophisticated Pine Script (version 5) indicator designed for TradingView to facilitate options trading on the Nifty index, specifically for Call (CE) and Put (PE) options. It integrates multiple technical analysis concepts, including price levels, volatility, Z-score-based anomaly detection, dynamic position sizing, and straddle/strangle strategies, to provide traders with actionable buy and sell signals. Below is a detailed write-up of the indicator’s functionality, structure, and features.OverviewThe indicator tracks Nifty Call and Put options alongside Nifty Futures to generate trading signals based on price action, volume spikes, volatility (via ATR and India VIX), and statistical anomalies (Z-scores). It supports both buying and selling strategies for CE and PE options, incorporating features like trailing stops, dynamic stop-losses, and end-of-day (EOD) exits tailored for intraday trading. The script also includes a straddle/strangle strategy, visual cues (lines, labels, and tables), and alert conditions for real-time trading decisions.Key features include:Dynamic Inputs: Configurable parameters for symbols, targets, stop-loss buffers, ATR periods, and more.
Time-Based Logic: Trading signals are enabled after 9:21 AM IST to ensure market stability.
Volatility-Adaptive Stops: Stop-loss levels adjust based on ATR and India VIX.
Z-Score Analysis: Detects price anomalies to refine entry/exit signals and position sizing.
Kelly Criterion: Adjusts position sizes based on assumed win rates and Z-score categories.
Visual Aids: Plots key price levels (daily/weekly opens, 5-min high/low/close), stop-loss lines, and a summary table.
Straddle/Strangle Logic: Identifies opportunities for combined CE and PE trades.
Debugging and Alerts: Detailed debug labels and customizable alerts for trade monitoring.


THIS INDICATOR IS IN TESTING PHASE. DO NOT TAKE REAL TRADES BASED ON THIS INDICATOR. PLEASE FEEL FREE TO USE IT AND GIVE US YOUR FEEDBACK.