How to Use the Options Guide Indicator
The Options Guide indicator is designed to simplify decision-making in F&O analysis by providing predefined entry and exit levels using real-time premium behaviour.
This step-by-step guide will help you set up the indicator correctly and do the analysis for educational understanding.
Before You Begin
To use the indicator, you will need:
1. A TradingView account (Free plan works)
2. Access approval from your subscription
3. Basic understanding of options (CE, PE, Strike Price, Expiry)
4. Once access is granted, the indicator will appear under: TradingView → Indicators → Invite-only scripts → Options Guide
Applying the Indicator to a Chart
Follow these steps:
1. Open TradingView
2. Search and open chart:
→ NIFTY / BANKNIFTY / FINNIFTY / MIDCPNIFTY / SENSEX or any F&O stock
3. Set the chart timeframe to:
→ 5-minute chart (recommended)
4. Add the indicator:
→ Indicators → Invite-only Scripts → Options Guide
You will now see the indicator as a oscillator.
Input Settings Explained
​​When you open the indicator settings, you will see several input fields.
Each field controls how the indicator reads market structure and premiums.
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Spot Symbol - Select the underlying index or stock you want to analyse (Example: NIFTY, BANKNIFTY, FINNIFTY, MIDCPNIFTY, SENSEX, or any F&O stock)
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Expiry (Day / Month / Year) - Enter the exact expiry of the active contract for study (Example: 2 / 11 / 25)
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Strike Selection - Choose which premium you want to analyze:​
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CE (Call Premium)
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PE (Put Premium)
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Combined Premium (CE + PE → used for Straddle & Strangle analysis)
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Timeframe Settings - 5 minutes time frame of your chart.
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PCP (Price Control Point) - Timeframe
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Default: 1-Day → Best for Intraday and index positional
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Optional: 3-Day → For positional or swing setups of stocks options
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Tip: Do not change settings frequently — keep it consistent for best structure.
Golden Rule
"Trade only in the direction of the PCP — never trade against it."
Understanding the PCP Line
The PCP line is the core decision-making tool inside the indicator.
It shows directional structure based on premium behavior —
not lagging price movement.
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Here’s how to read it:
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When the PCP line is Green:
→ Market bias is Bullish, Focus only on Buy setups -
When the PCP line is Red:
→ Market bias is Bearish, Focus only on Sell setups -
If the PCP line flips color:
→ The previous structure is no longer valid
→ This signals exit and reversal preparation -
Avoid taking trades when:
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PCP keeps flipping repeatedly
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Price is far away from the PCP
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Intraday Buy Analysis
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On 13th November, BankNifty opened at 58,188, so select the 58,200 strike for both CE and PE and analyse them separately.
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Take a buy entry only when the premium candle closes above the PCP line.
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Maintain a 1:2 or 1:3 risk-to-reward ratio, depending on structure and volatility.
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Stop-loss should be placed below the PCP line or at a reasonable level based on premium movement.
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Take only one trade per day; if market structure remains clean and supportive, a maximum of two trades are allowed.
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In this example, 58,200 CE crossed above the PCP line and confirmed a valid long entry.
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Entry candle closed near 726 points with an SL around 690 points, meaning a 36-point risk.
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The 1:2 RR target of 798 points was achieved comfortably, and the premium later touched 859, showing strong continuation.
Intraday Sell Analysis
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After reviewing the CE chart, analyse the 58,200 PE separately.
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Take a sell entry only when the premium candle closes below the PCP line.
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The valid entry was triggered around 345 points, confirming bearish structure.
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The stop-loss for this trade was 30 points, keeping controlled risk (SL near 375 points).
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Based on the SL, the 1:2 RR target would be approximately:
→ 345 − (30 × 2) = 285 points -
The premium moved cleanly and made a low of 284, meaning the expected 1:2 target was achieved perfectly.
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This confirms that the PE also respected PCP structure and followed a disciplined directional move.
Intraday Short Straddle Analysis
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On 13th November, BankNifty opened at 58,188, so select the 58,200 strike and analyse the combined premium (CE + PE) for a straddle setup. Special Note: Can take strike price once the morning 30 miutes impulse move is over.
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There was no valid crossover below the PCP line in the morning session, so a short straddle entry was not valid during that time.
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Even if someone forced an early entry near the PCP line, the structure allowed only a small stop-loss of 22–25 points, which would have been hit. (Avoid forced entries.)
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A valid entry was eventually confirmed in the afternoon session around 13:55 at approximately 1070 premium value.
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After entry, the premium moved cleanly and made a low around 1024, maintaining a reasonable risk-to-reward structure.
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This demonstrates that even on trending days, a short straddle can work effectively when entries are taken only after a valid crossover and PCP confirmation.
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The combined premium logic follows the same format used by TradingView’s premium charting method, and the indicator leverages this behaviour to keep stop-losses small and manageable.
Intraday Short Straddle Analysis
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On 18th November, the market remained sideways.
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Based on the price action, the 58,900 strike was selected for the combined (CE + PE) premium analysis.
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A valid short straddle entry was triggered around 860 premium value, confirming a stable structure.
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The stop-loss for this setup was approximately 35 points, keeping risk controlled and in line with PCP rules.
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The premium continued to decay as expected in a sideways environment and made a low around 768 before the market closed.
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Throughout the move, the structure remained intact and the stop-loss was never triggered, delivering a clean and disciplined short straddle trade.
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And that’s exactly why we say: “Let profit flow naturally.”
18th November 25, 58900 CE Strike Price SL Example
18th November 25, 58900 CE Strike Price SL Example
Intraday Rules & Deciplain
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On 18th November, the market stayed sideways, meaning premiums did not follow a strong directional flow.
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The 58,900 strike was selected and analysed individually for Call Premium (CE) and Put Premium (PE).
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Maintain 1:2 or 1:3 RR on every set-up.
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Maximum 1 entry per day.
(Only take a second entry if the structure is extremely clean.) -
In the given date, this behaviour is normal and expected because sideways markets offer premium rotation, not trending movement.
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When this happens, entries must remain strictly rule-based i.e. — never chase breakouts during uncertainty.
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Stop-losses may get hit, and patience becomes more important than participation. Stop-loss remains small and predefined.
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Study allows to enter only when the premium candle closes clearly above (or below) the PCP line.
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If PCP direction reverses — exit immediately.
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Avoid entering when candles repeatedly cross and reject the PCP line.
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Do not enter a short straddle without a confirmed PCP crossover.
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Forced straddle entries lead to small stop-loss hits, especially in sideways markets.
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The goal is discipline, not taking every signal the chart shows.​
BankNifty November 58000 Straddle Study
Positional Setup
For positional analysis, track the combined premium (straddle) approximately 7–10 days before the upcoming expiry cycle.
For instance, if you study the November expiry straddle, start monitoring from around 20th October.
If the spot price of Bank Nifty is near 58060 on 20th October. Observe the 58000 combined premium along with slightly OTM or ITM levels such as 58500 (CE+PE) and 57500 (CE+PE).
The idea behind monitoring multiple strikes is that during positional setups, one of these strikes will eventually help in validating a trend behavior for a more confident entry. Can select 3D timeframe of PCP in input of indicator.
Reliance November 1500 Straddle Chart Analysis
Only 1 SL. Premium Is Just ½ In 18 days.
DLF November 750 Straddle Chart Analysis
