Put Options Buy/Sell Signals

Why This Works for 5-Minute to 1-Hour Timeframes
MACD (12, 26, 9): Responsive enough for short-term momentum shifts without excessive noise.
20-Period SMA: Covers roughly 1.5 hours on a 5-minute chart or 20 hours on a 1-hour chart, balancing sensitivity and trend confirmation. You can adjust this period (e.g., 10 for 5-minute, 50 for 1-hour) based on preference.
The combination filters out false signals while capturing significant moves, ideal for options trading where timing is critical.
How to Use It
Add to TradingView:
Open the Pine Editor in TradingView, paste the code, and save it.
Add the indicator to your chart.
Interpret Signals:
Red Downward Triangle: Buy a put option, expecting the price to drop.
Green Upward Triangle: Sell your put option to take profits.
Adjust Settings:
For a 5-minute chart, try a shorter SMA (e.g., 10) or faster MACD (e.g., 5, 13, 6) if signals feel delayed.
For a 1-hour chart, the defaults (20 SMA, 12,26,9 MACD) should work well.
Combine with Analysis:
Check volume, support/resistance, or volatility (e.g., ATR) manually to confirm signals, as these aren’t included in the script.