Options Scalper v2 - SPY/QQQ — Strategy by hakan_gul_79
By hakan_gul_79
Performance Metrics
- Author: hakan_gul_79
- Symbol: AMEX:SPY
- Timeframe: 2 minutes
- Net P&L: +2,959.35 USD (+0.30%)
- Win Rate: 42.9%
- Profit Factor: 1.031
- Max Drawdown: 18,450.64 USD (1.83%)
- Total Trades: 175
Description
Here's a comprehensive description of the Options Scalper v2 strategy:---## Options Scalper v2 - SPY/QQQ### OverviewA multi-indicator confluence-based scalping strategy designed for trading SPY and QQQ options on short timeframes (1-5 minute charts). The strategy uses a scoring system to generate high-probability CALL and PUT signals by requiring alignment across multiple technical indicators before triggering entries.---### Core LogicThe strategy operates on a **scoring system (0-9 points)** where both bullish (CALL) and bearish (PUT) conditions are evaluated independently. A signal only fires when:1. A recent EMA crossover occurred (within the last 3 bars)2. The direction's score meets the minimum threshold (default: 4 points)3. The signal's score is higher than the opposite direction4. Enough bars have passed since the last signal (cooldown period)5. Price action occurs during valid trading sessions---### Indicators Used| Indicator | Purpose | CALL Condition | PUT Condition ||-----------|---------|----------------|---------------|| **9/21 EMA Cross** | Primary trigger | Fast EMA crosses above slow | Fast EMA crosses below slow || **200 EMA** | Trend filter | Price above 200 EMA | Price below 200 EMA || **RSI (14)** | Momentum filter | RSI between 45-65 | RSI between 35-55 || **VWAP** | Institutional level | Price above VWAP | Price below VWAP || **MACD (12,26,9)** | Momentum confirmation | MACD line > Signal line | MACD line D | Overbought or K slow): +1 pt- RSI in bullish range: +1 pt- Above VWAP: +1 pt- MACD bullish: +1 pt- Volume spike on green candle: +1 pt- Stochastic setup: +1 pt- Above 200 EMA: +1 pt- Breaking higher high: +1 pt**PUT Score (Max 9 points):**- Recent EMA cross down: +2 pts- EMA alignment (fast < slow): +1 pt- RSI in bearish range: +1 pt- Below VWAP: +1 pt- MACD bearish: +1 pt- Volume spike on red candle: +1 pt- Stochastic setup: +1 pt- Below 200 EMA: +1 pt- Breaking lower low: +1 pt---### Risk ManagementThe strategy uses **ATR-based dynamic stops and targets**:| Parameter | Default | Description ||-----------|---------|-------------|| Stop Loss | 1.5x ATR | Distance below entry for longs, above for shorts || Take Profit | 2.0x ATR | Creates a 1:1.33 risk-reward ratio |Positions are also closed on:- Opposite direction signal (flip trade)- Take profit or stop loss hit---### Session FilteringTrades are restricted to high-liquidity periods by default:- **Morning Session:** 9:30 AM - 11:00 AM EST- **Afternoon Session:** 2:30 PM - 3:55 PM ESTThis avoids choppy midday price action and captures the highest volume periods.---### Input Parameters| Parameter | Default | Description ||-----------|---------|-------------|| Fast EMA | 9 | Fast moving average period || Slow EMA | 21 | Slow moving average period || Trend EMA | 200 | Long-term trend filter || RSI Length | 14 | RSI calculation period || RSI Overbought | 65 | Upper RSI threshold || RSI Oversold | 35 | Lower RSI threshold || Volume Multiplier | 1.2x | Volume spike detection threshold || Min Signal Strength | 4 | Minimum score required to trigger || Crossover Lookback | 3 | Bars to consider crossover "recent" || Min Bars Between Signals | 5 | Cooldown period between signals |---### Visual Elements**Chart Plots:**- Green line: 9 EMA (fast)- Red line: 21 EMA (slow)- Gray line: 200 EMA (trend)- Purple dots: VWAP**Signal Markers:**- Green triangle up + "CALL" label: Buy call signal- Red triangle down + "PUT" label: Buy put signal- Small circles: EMA crossover reference points**Info Table (Top Right):**- Real-time CALL and PUT scores- RSI, MACD, Stochastic values- VWAP and 200 EMA position- Recent crossover status- Current signal state---### Alerts| Alert Name | Trigger ||------------|---------|| CALL Entry | Standard call signal fires || PUT Entry | Standard put signal fires || Strong CALL | Call signal with score ≥ 6 || Strong PUT | Put signal with score ≥ 6 |---### Recommended Usage| Setting | 0DTE Scalping | Intraday Swings ||---------|---------------|-----------------|| Timeframe | 1-2 min | 5 min || Min Signal Strength | 5-6 | 4 || ATR Stop Mult | 1.0 | 1.5 || ATR TP Mult | 1.5 | 2.0 || Option Delta | 0.40-0.50 | 0.30-0.40 |---### Key Improvements Over v11. **Requires actual crossover** - Eliminates false signals from simple trend continuation2. **Balanced scoring** - Both directions evaluated equally, highest score wins3. **Signal cooldown** - Prevents overtrading with minimum bar spacing4. **Multi-indicator confluence** - 8 factors must align for signal generation5. **Volume-candle alignment** - Volume spikes only count when matching candle direction---### DisclaimerThis strategy is for educational purposes. Backtest thoroughly before live trading. Options trading involves significant risk of loss. Past performance does not guarantee future results.