1. Jerry J8 30-123 SPY Scalping PRO 2
2. Jerry’s J8 Day Trading & Scalping Indicator
3. Jerry J8 30-123 Spy Scalping Lower Pro 2
The J8 Scalping Indicators: View On TradingView
The J8 series of indicators are designed for scalping daily options with Bull Put and Bear Call Credit spreads.
These three indicators are designed for scalping options (that expire daily) with bull put and bear call credit spreads on a 3 minute chart. The name 30_123 is a reference to 4 main criteria being met to give a green light for a potential trade.
- 30 = 30 minute trend
- 1 = 3 minute trend
- 2 = Moving average criteria
- 3 = RSI criteria
- 4 = Secondary trend. Bonus if in sync but not a requirement.
* The strategy also utilizes momentum as a criteria but this is not shown on the dashboard.
These indicators are designed to trade options that expire daily including the SPY, IWM, QQQ, and NDX. However, it can be used with any symbol on a 3 minute chart.
When the 30_123 conditions are all green with all criteria are met a bull signal is created.
When the 30_123 conditions are all red with all criteria are met a bear signal is created.
This study is the dashboard that is designed to show how the main J8 strategy indicator is working and it shows which criteria have been met. Additionally there are multiple user INPUTS that you can adjust for the 4 main criteria plus inputs to help you with your credit spread criteria.
NOTE: I plan to create a tutorial video soon.
—– Helpful Hints & Tips
1. You should NOT take every signal.
2. When an order entry is generated check the dashboard. Things can change quickly.
3. The MACD indicator is priceless and it is NOT built into the other two indicators. Anytime you have a potential entry check the MACD to see if you are in the optimal entry zone then make your decision. If the MACD is well outside of the optimal entry zone you can still enter the spread but realize this is makes it a higher risk trade. Possible reasons to take on additional risk include catching big momentum plays early. For example if the FED makes an announcement and the markets are reacting this could justify taking on the additional risk.
4. The Iron Condor label will only appear for the SPY ticker symbol. If it is early in the day I will typically do what is called a $10 spread with $1 wings. If it is 12-1 PM eastern will typically do an $8 spread with $1 wings. The wider the spread the less risk you have and since the IC expires today I will tighten the spread the closer we are to option expiration. Generally I stop trading daily spreads by 2:00 PM.
- All 3 Indicators are only $34.99 a month (total) . Subscribe with PayPal & cancel anytime.
- After subscribing we will email an authorization form to your PayPal email address within 1 business day so we can authorize your use of the indicators. Allow 1-2 business day for setup.
- If you have not received the authorization form via email, after waiting 1 business day, check your SPAM folder. Or, your email address could not receive emails. If you did not receive the authorization form send a Private message to JerryTravels on TradingView and include your PayPal email address(to confirm subscription) and the best email to send the form.
HOW TO FIND YOUR INDICATORS AFTER SUBSCRIBING
After subscribing and submitting your Authorization Form allow 1 business day for your indicators to be authorized and ready.
To find your new indicators click on Indicators then Invite-only-scripts. If the locks are red refresh or reload TradingView. If your scripts have been authorized the locks will be green. Click on the star to favorite the indicator and then double click to install.
HOW TO FIND YOUR TradingView USERNAME
Click on your PROFILE PICTURE, then SETTINGS. Copy and Paste username to ensure accuracy.