Safety Ranking Indicator : intra-day credit spread
In this update, I have added a Safe Zone to the stock chart. To display the SafeZone, set show_SafeZone to Yes.
Ideally, the short strike resides inside the Safe Zone. Otherwise, the credit spread is at risk and it is time to watch the spread very closely. The safe rank will be less than 1.7 at that time.
It shows visually how the Safe Zone evolves over time with time decay. The deeper the short strike is in the zone, the safer is the credit spread. Most of the decay happens in the last 1 to 2 hours before expiration.
The indicator will draw strike1 on the stock chart. To disable this indicator, type in a zero (0) for strike1. There is a Safety Ranking indicator available for the daily and weekly credit spreads as well.
Updated: 12-5-2021 - 11 traders - ♥ Ask for your free TOS Setup weblinks
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Trading tactics defending credit spreads, win some, lose some.
TOS limit orders, stop-loss, OCO conditional orders.
Identify reversals , buy in after 4 up ticks or after 4 down ticks.
Stay in a risky spread with the aid of the safe ranking number.
Trade setups during a reversal. Ride the IV volatilty for risk-reward .
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Speeding up TOS order executions.
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