High-Probability CPR Theta Engine
The Ultimate option selling strategy
Unlock high-probability option selling with this powerful TradingView indicator built on advanced CPR logic. It intelligently identifies ideal setups for Call, Put, or Iron Condor selling based on price positioning relative to the CPR. Automated strike selection uses pivot levels like Camarilla, with manual offsets for custom strategies. Key features include win/loss visualization, pre-market planning tools and flexible timeframe control. Recent enhancements boost clarity and control, making it ideal for serious traders. Whether you’re selling weekly options or intraday spreads, this tool helps you trade smarter, with data-backed precision, it streamlines decision-making for both beginners and seasoned traders. Trade more consistently with confidence.
🎯 Core Strategy: CPR-Based Option Selling
At the heart of this indicator lies a robust strategy that leverages Central Pivot Range (CPR) from higher timeframes. The indicator dynamically evaluates the current bar’s open/close position relative to the CPR to determine the most appropriate option selling strategy:
- Sell Call when the price opens below the CPR (bearish bias)
- Sell Put when the price opens above the CPR (bullish bias)
- Sell Iron Condor when the price opens within the CPR (neutral bias)
This intelligent logic helps eliminate guesswork, guiding traders toward trades with statistically higher probabilities of success.The indicator references CPR levels from a higher timeframe (e.g., using daily CPR on a 15-minute chart), which enhances signal reliability and filters out noise common on lower timeframes.
This dynamic logic eliminates emotional guesswork by giving clear, actionable signals based on proven pivot theory.
⚙️ Smart Strike Price Logic
Precision is key in options trading, and this script handles strike selection intelligently using AI, Data Science and predefined logics. This versatility lets you fine-tune aggressiveness (e.g. Camarilla or manual offsets capture extra premium) or stick to a conservative range.:
For traders seeking more control or a more aggressive stance, the script supports additional options such as:
- Manual Offsets to fine-tune strike levels
- Camarilla Pivots (R1/S1, R2/S2) for a nuanced view of price action
This flexibility ensures the tool fits a wide range of strategies—from conservative income traders to active intraday players. This multi-layered flexibility allows you to design strategies that align with your unique risk appetite.
🛠️ Key Features & Customization
This isn’t just a signal tool—it’s a full-fledged trading assistant with features tailored for professional execution: (Suggested not to change these settings if you are not fully aware)
- Trigger Source: Define whether the logic should evaluate the open or close of the first candle in your timeframe.
- Multi-Strategy Signals: Flags sell-call (below CPR), sell-put (above CPR), or iron condor (inside CPR) trades
- Backtest Table: Visual performance metrics display historical win/loss percentages, helping you refine setups before risking capital.
- Extended CPR & Strikes: Project upcoming CPR levels and strike zones into the future—ideal for pre-market planning or setting up overnight trades.
- Custom Timeframes: Choose your higher timeframe automatically or manually, offering flexibility between swing and intraday analysis.
- Plot Controls: Toggle visibility for all CPR levels, strike lines, and pivot types to keep your chart clean or fully loaded.
- Weekday Filters: Enable or disable trades on specific weekdays—perfect to avoid some days whether 0DTE or other DTE’s based on your choice.
Manual Spread Width: Set your preferred spread width for more accurate trade planning and margin management.
🔎 Built-In Analytics and Control
A built-in win/loss percentage table shows historical performance for the current symbol and settings , giving an instant view of success rates based on your selection of timeframe. You can restrict backtesting to a specific date range. Optional overlays of the prior day’s or week’s highs and lows add extra context. Smart labeling displays success based call selling, put selling and Iron condor. . Together, these features help both novice and veteran traders maintain discipline and trust their data-driven edge.
🌐 Enhanced Customization and Controls
This isn’t a black-box indicator. It’s designed for deep customization:
- Choose from multiple pivot systems (Standard, Camarilla, custom)
- Adjust plot transparency and label size
- Control line styles and alert frequency
- Define label display range (e.g., latest bar only)
These capabilities ensure the indicator doesn’t just work for your strategy — it fits your trading workflow visually and functionally.
🔑 Why Choose This Indicator?
This TradingView indicator isn’t just another indicator—it’s a complete system for options sellers who want:
- A rule-based approach rooted in market structure and probability
- Efficient strike calculation that adapts to different market conditions
- The ability to backtest and refine without coding or spreadsheets
- A clean, professional interface with highly customizable settings
Whether you’re doing directional or non directional options selling, whether you are selling for intraday or weekly positional, this script empowers you with the tools to trade methodically and profitably.
Successful option selling isn’t about taking every trade. It’s about taking the right trade at the right level with the right bias. By combining:
- Market structure (via CPR)
- Automated strike selection (via pivot logic)
- Win/loss data for feedback
- Adjustable risk settings
…this indicator becomes a full trading assistant, not just a signal generator.
It’s not just an edge. It’s a system.
📈 Who Is This For?
- Retail traders seeking structure in their option selling
- Advanced traders looking to optimize option selling setups
- Anyone wanting to reduce emotional bias and stick to data-driven trades
Novice traders will appreciate straightforward signals (sell call, sell put, or condor) without manual CPR calculations. Seasoned traders will value the deep customization and performance analytics. By automating pivot comparisons and strike selection, the indicator frees you to focus on risk management and execution. This tool makes consistent entries easier.
🔑 Final Word
If you’re serious about profitable, repeatable option selling, this indicator is your edge. Built with trader-centric logic, battle-tested enhancements, and deep customization options, it delivers clarity, discipline, and confidence—straight from your TradingView chart. This script blends pivot logic, price positioning, and historical testing to offer a dynamic and systematic way to identify high-probability option selling setups, with customization for aggressiveness, risk, and alerts.
The CPR-Based Option Selling Indicator for TradingView is the ideal companion for traders who want structure, confidence, and control. With its intelligent design, flexible customization, and high-probability setups, this tool can redefine how you approach the market.
Whether you’re optimizing for premium capture, managing exposure, or refining entries — this indicator is built to support your strategy every step of the way.
CPR Theta Edge FAQ
It’s a TradingView indicator built for high-probability option selling using Central Pivot Range (CPR) logic. It automatically identifies optimal setups to sell Calls, Puts, or Iron Condors based on CPR-based price positioning.
Yes, it is optimized for index options due to:
- CPR’s high relevance in index movement,
- Iron Condor suitability for range-bound days,
- Customizable spread width and strike rounding compatible with Indian derivatives tick sizes.
Yes, This indicator always gives the signal with the hedge. You should always use hedge while using this script.
You can apply the same script across multiple TradingView charts (NIFTY, SENSEX, RELIANCE etc).
Each will:
- Auto-calculate its own CPR and strike logic,
- Maintain instrument-specific strike rounding and logic zones.
Yes, you can select custom timeframes and apply the strategy to both intraday and weekly positional setups
Yes. It simplifies the decision-making process using visual cues and rule-based logic while allowing deeper customization for advanced users.
Yes. Use the custom settings to restrict the backtest range or apply the indicator to different instruments like NIFTY, BANKNIFTY, or FINNIFTY.