NIFTY SpreadGuard V2024 - Mega-S…: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above, or the copy button on the code below.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

269 lines of Pine Script v5 from NIFTY_SpreadGuard_V2024.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

NIFTY_SpreadGuard_V2024.pine

// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Antigravity
// @version=5
indicator("NIFTY SpreadGuard V2024 — Mega-Sidebar Sniper", shorttitle="SG-V2024-MEGA", overlay=true, max_labels_count=500)

// =============================================================================
// [1] INPUTS & CONFIGURATION (V2024 Sniper Logic)
// =============================================================================
grp_core = "1 — SpreadGuard CORE V2024 (Sniper)"
vixTicker     = input.symbol("NSE:INDIAVIX", "VIX Ticker Source", group=grp_core)
velocityThres = input.float(4.5, "Velocity Storm Trigger (%)", minval=1.0, group=grp_core)
vixCeilMult   = input.float(1.20, "Dynamic VIX Avg Mult", group=grp_core)
strikeDist    = input.float(450.0, "Base OTM Distance", group=grp_core)
capital_lots  = input.int(1, "Base Lots (1 Lot = 50 Qty)", group=grp_core)

grp_ui = "2 — Mega-Sidebar Layout"
showHUD       = input.bool(true, "Show 8-Column Dashboard", group=grp_ui)
hudPos        = input.string(position.top_right, "HUD Position", options=[position.top_right, position.bottom_right], group=grp_ui)
opacityHUD    = input.int(85, "Sidebar Opacity", minval=0, maxval=100, group=grp_ui)

// =============================================================================
// [2] SENSORS & V2024 SNIPER LOGIC
// =============================================================================
// Market Data
vixClose = request.security(vixTicker, timeframe.period, close)
vix20Avg = ta.sma(vixClose, 20)
vixCeil  = math.min(vix20Avg * vixCeilMult, 22.0)

// Velocity Sensor (V2024 High-Freq Drift)
roc1     = (close - close[1]) / close[1] * 100
velocity = math.abs(roc1) + math.abs(roc1[1]) + math.abs(roc1[2])

// Institutional Indicators
atr      = ta.atr(14)
vixChg1d = (vixClose - vixClose[1]) / vixClose[1] * 100
bbw      = (ta.stdev(close, 20) * 4) / ta.sma(close, 20) * 100
bbwAvg   = ta.sma(bbw, 20)
roc5     = (close - close[5]) / close[5] * 100

// Danger Score (Sniper Tuning - Looser for Churn)
score = 0
score += (vixClose > 20 ? 1 : 0)
score += (vixChg1d > 15 ? 1 : 0)
score += (atr > 220 ? 1 : 0)
score += (math.abs(roc5) > 2.5 ? 1 : 0)
score += (bbw > bbwAvg * 1.3 ? 1 : 0)
score += (velocity > velocityThres ? 1 : 0)

// [3] THEME & COLOURS (V2024 Sniper Theme)
WH   = #FFFFFF
GRY  = #B2B5BE
OK   = #00E676
WARN = #FFD600
FAIL = #FF5252
BLUE = #2196F3
HDR  = #1A237E // Sniper Midnight Blue
CELL_BG = color.new(#0D1117, 100 - opacityHUD)

// Regime Classification
isStorm     = (velocity > velocityThres and score >= 2) or vixClose >= 26 or vixChg1d > 18.0
isSafe      = not isStorm and score <= 2 and vixClose < vixCeil
isSelective = not isSafe and not isStorm

// Trend Bias (V2024 Institutional Trend Cluster)
ema20 = ta.ema(close, 20)
ema50 = ta.ema(close, 50)

// 1. DMI (Directional Movement Index)
[diplus, diminus, adx] = ta.dmi(14, 14)

// 2. SuperTrend (Volatility Trend)
[supertrend, direction] = ta.supertrend(3, 10)

// 3. MACD (Momentum)
[macdLine, signalLine, _] = ta.macd(close, 12, 26, 9)

// ── [4] ANCHOR INTELLIGENCE (MTF & VWAP) ──
// Multi-Timeframe EMA 20 Alignment
ema15m = request.security(syminfo.tickerid, "15", ta.ema(close, 20))
ema1h  = request.security(syminfo.tickerid, "60", ta.ema(close, 20))
ema1d  = ta.ema(close, 20)

isStackedBull = (ema15m > ema1h) and (ema1h > ema1d)
isStackedBear = (ema15m < ema1h) and (ema1h < ema1d)

// VWAP Sensor
curVwap = ta.vwap
isAboveVwap = close > curVwap

// ── [5] CLUSTER SCORING LOGIC ──
t_score = 0
// EMA Point: Only Bullish if Cross is Up AND Price is above EMA 20
t_score += (ema20 > ema50 and close > ema20 ? 1 : (ema20 < ema50 and close < ema20 ? -1 : 0))
t_score += (diplus > diminus ? 1 : -1)
t_score += (direction < 0 ? 1 : -1) // SuperTrend BULL
t_score += (macdLine > signalLine ? 1 : -1)

// Momentum Shock Veto: Immediately nukes score if a deep red breakdown occurs
isShock = (close < open and roc1 < -1.0)
t_score := isShock ? t_score - 2 : t_score

// Hardened Bias Label (Strict V2024 Thresholds)
isBullish = t_score >= 2
isBearish = t_score <= -2
biasLabel = t_score >= 3 ? "STRONG BULL" : t_score == 2 ? "BULL BIAS" : t_score <= -3 ? "STRONG BEAR" : t_score == -2 ? "BEAR BIAS" : "NEUTRAL"
biasColor = t_score >= 2 ? OK : t_score <= -2 ? FAIL : WH
clusterMsg = str.tostring(t_score, "+0;-0") + "/4 Match"

// V2024 Multi-Layer Rules (Mon, Wed, Fri Sniper)
dow = dayofweek
isMon = (dow == dayofweek.monday)
isWed = (dow == dayofweek.wednesday)
isFri = (dow == dayofweek.friday)
isEntryDay = isMon or isWed or isFri

entrySignal = isEntryDay and isSafe 

// =============================================================================
// [3] PROBABILITY & SAFETY ENGINE (V16 Aesthetic)
// =============================================================================
f_norm_cdf(float _x) =>
    float _t = 1.0 / (1.0 + 0.2316419 * math.abs(_x))
    float _d = 0.3989423 * math.exp(-_x * _x / 2.0)
    float _p = _d * _t * (0.3193815 + _t * (-0.3565638 + _t * (1.7814779 + _t * (-1.8212560 + _t * 1.3302744))))
    _x >= 0 ? 1.0 - _p : _p

f_safety(float _dist, int _hd) =>
    float _atr = ta.atr(14)
    float _dv   = close > 0 and _atr > 0 ? _atr / close : 0.01
    float _z    = (_dist / close) / (_dv * math.sqrt(_hd))
    (1.0 - (1.0 - f_norm_cdf(_z)) * 2.0) * 100.0

// Safety Ladder
safe_150 = f_safety(150.0, 5)
safe_200 = f_safety(200.0, 5)
safe_400 = f_safety(400.0, 7)
safe_500 = f_safety(500.0, 7)
safe_600 = f_safety(600.0, 7)
safe_700 = f_safety(700.0, 7)
safe_750 = f_safety(750.0, 7)

if showHUD and barstate.islast
    var table dash = table.new(hudPos, 8, 20, border_width=1, border_color=color.new(color.gray, 60), frame_color=color.new(color.white, 50), frame_width=1, bgcolor=CELL_BG)
    
    // [COL 0/1]: CORE STATUS
    table.cell(dash, 0, 0, "SpreadGuard V2024", text_color=WH, bgcolor=HDR, text_size=size.small)
    table.cell(dash, 1, 0, "Multi-Layer Sniper", text_color=WH, bgcolor=HDR, text_size=size.small)
    
    table.cell(dash, 0, 1, "MODE",     text_color=GRY, text_size=size.small)
    table.cell(dash, 1, 1, isStorm ? "LOCKDOWN" : isSelective ? "SELECTIVE" : "SNIPER-RDY", text_color=isStorm ? FAIL : isSelective ? WARN : OK, text_size=size.small)
    table.cell(dash, 0, 2, "STATUS",   text_color=GRY, text_size=size.small)
    table.cell(dash, 1, 2, isSafe ? "✅ SNIPE" : isStorm ? "🛑 STORM" : "⏸ WAIT", text_color=isSafe ? OK : isStorm ? FAIL : WARN, text_size=size.small)

    table.cell(dash, 0, 3, "OTM Dist", text_color=GRY, text_size=size.small)
    table.cell(dash, 1, 3, str.tostring(strikeDist, "0") + " pts", text_color=WH, text_size=size.small)
    
    table.cell(dash, 0, 4, "BP Strike", text_color=GRY, text_size=size.small)
    table.cell(dash, 1, 4, str.tostring(math.round((close-strikeDist)/50)*50, "0"), text_color=OK, text_size=size.small)
    table.cell(dash, 0, 5, "BC Strike", text_color=GRY, text_size=size.small)
    table.cell(dash, 1, 5, str.tostring(math.round((close+strikeDist)/50)*50, "0"), text_color=FAIL, text_size=size.small)

    table.cell(dash, 0, 6, "BIAS",      text_color=GRY, text_size=size.small)
    table.cell(dash, 1, 6, biasLabel,   text_color=biasColor, text_size=size.small)
    
    table.cell(dash, 0, 7, "EMA 20/50", text_color=GRY, text_size=size.small)
    table.cell(dash, 1, 7, ema20 > ema50 and close > ema20 ? "BULL" : (ema20 < ema50 and close < ema20 ? "BEAR" : "NEUTRAL"), text_color=ema20 > ema50 and close > ema20 ? OK : (ema20 < ema50 and close < ema20 ? FAIL : WH), text_size=size.small)
    table.cell(dash, 0, 8, "DMI (14)",  text_color=GRY, text_size=size.small)
    table.cell(dash, 1, 8, diplus > diminus ? "BULL" : "BEAR", text_color=diplus > diminus ? OK : FAIL, text_size=size.small)
    table.cell(dash, 0, 9, "SuperTrend", text_color=GRY, text_size=size.small)
    table.cell(dash, 1, 9, direction < 0 ? "BULL" : "BEAR", text_color=direction < 0 ? OK : FAIL, text_size=size.small)
    table.cell(dash, 0, 10, "MACD Sig",  text_color=GRY, text_size=size.small)
    table.cell(dash, 1, 10, macdLine > signalLine ? "BULL" : "BEAR", text_color=macdLine > signalLine ? OK : FAIL, text_size=size.small)
    
    table.cell(dash, 0, 11, "CONSENSUS", text_color=HDR, bgcolor=WH, text_size=size.small)
    table.cell(dash, 1, 11, clusterMsg,   text_color=HDR, bgcolor=WH, text_size=size.small)

    table.cell(dash, 0, 12, "── ANCHOR ──", text_color=WH, bgcolor=HDR, text_size=size.small)
    table.cell(dash, 1, 12, "80% Strategy", text_color=WH, bgcolor=HDR, text_size=size.small)
    
    table.cell(dash, 0, 13, "MTF-Trend", text_color=GRY, text_size=size.small)
    table.cell(dash, 1, 13, isStackedBull ? "STACKED-UP" : isStackedBear ? "STACKED-DN" : "MIXED/FLAT", text_color=isStackedBull ? OK : isStackedBear ? FAIL : color.yellow, text_size=size.small)
    table.cell(dash, 0, 14, "VWAP Pos",  text_color=GRY, text_size=size.small)
    table.cell(dash, 1, 14, isAboveVwap ? "ABOVE (Bull)" : "BELOW (Bear)", text_color=isAboveVwap ? OK : FAIL, text_size=size.small)

    // [COL 2/3]: OTM LADDER (Institutional Safeties)
    table.cell(dash, 2, 0, "── LADDER ──", text_color=WH, bgcolor=HDR, text_size=size.small)
    table.cell(dash, 3, 0, "Safety Check", text_color=WH, bgcolor=HDR, text_size=size.small)
    
    table.cell(dash, 2, 1, "150-BflyW", text_color=GRY, text_size=size.small)
    table.cell(dash, 3, 1, safe_150 > 85 ? "AVAILABLE" : "blocked", text_color=safe_150 > 85 ? OK : GRY, text_size=size.small)
    table.cell(dash, 2, 2, "200-Bfly",  text_color=GRY, text_size=size.small)
    table.cell(dash, 3, 2, str.tostring(safe_200, "0.0") + "%", text_color=safe_200 > 80 ? OK : FAIL, text_size=size.small)
    table.cell(dash, 2, 3, "400-NCond", text_color=GRY, text_size=size.small)
    table.cell(dash, 3, 3, str.tostring(safe_400, "0.0") + "%", text_color=safe_400 > 75 ? OK : FAIL, text_size=size.small)
    table.cell(dash, 2, 4, "500-Aggr",  text_color=GRY, text_size=size.small)
    table.cell(dash, 3, 4, str.tostring(safe_500, "0.0") + "%", text_color=safe_500 >= 72 ? OK : FAIL, text_size=size.small)
    table.cell(dash, 2, 5, "600-Norm",  text_color=GRY, text_size=size.small)
    table.cell(dash, 3, 5, str.tostring(safe_600, "0.0") + "%", text_color=safe_600 >= 70 ? OK : FAIL, text_size=size.small)

    // [COL 4/5]: ALTERNATIVE STRIKE PLANNER
    table.cell(dash, 4, 0, "── PLANNER ──", text_color=WH, bgcolor=HDR, text_size=size.small)
    table.cell(dash, 5, 0, "Rec. Strikes",  text_color=WH, bgcolor=HDR, text_size=size.small)
    
    table.cell(dash, 4, 1, "Butterfly P",  text_color=GRY, text_size=size.small)
    table.cell(dash, 5, 1, str.tostring(math.round((close-200)/50)*50, "0"), text_color=WH, text_size=size.small)
    table.cell(dash, 4, 2, "Butterfly C",  text_color=GRY, text_size=size.small)
    table.cell(dash, 5, 2, str.tostring(math.round((close+200)/50)*50, "0"), text_color=WH, text_size=size.small)
    
    table.cell(dash, 4, 3, "Std Condor P", text_color=GRY, text_size=size.small)
    table.cell(dash, 5, 3, str.tostring(math.round((close-500)/50)*50, "0"), text_color=OK, text_size=size.small)
    table.cell(dash, 4, 4, "Std Condor C", text_color=GRY, text_size=size.small)
    table.cell(dash, 5, 4, str.tostring(math.round((close+500)/50)*50, "0"), text_color=FAIL, text_size=size.small)
    
    table.cell(dash, 4, 5, "Wide Condor P", text_color=GRY, text_size=size.small)
    table.cell(dash, 5, 5, str.tostring(math.round((close-700)/50)*50, "0"), text_color=OK, text_size=size.small)
    table.cell(dash, 4, 6, "Wide Condor C", text_color=GRY, text_size=size.small)
    table.cell(dash, 5, 6, str.tostring(math.round((close+700)/50)*50, "0"), text_color=FAIL, text_size=size.small)

    // [COL 6/7]: SNIPER TARGETS & MARKET
    table.cell(dash, 6, 0, "── TARGETS ──", text_color=WH, bgcolor=HDR, text_size=size.small)
    table.cell(dash, 7, 0, "Sniper Efficiency", text_color=WH, bgcolor=HDR, text_size=size.small)
    
    table.cell(dash, 6, 1, "Monday Churn",  text_color=GRY, text_size=size.small)
    table.cell(dash, 7, 1, isMon and isSafe ? "✅ OPTIMAL" : "closed", text_color=isMon and isSafe ? OK : GRY, text_size=size.small)
    table.cell(dash, 6, 2, "Mid-Wed Churn", text_color=GRY, text_size=size.small)
    table.cell(dash, 7, 2, isWed and isSafe ? "✅ OPTIMAL" : "closed", text_color=isWed and isSafe ? OK : GRY, text_size=size.small)
    table.cell(dash, 6, 3, "Friday Churn",  text_color=GRY, text_size=size.small)
    table.cell(dash, 7, 3, isFri and isSafe ? "✅ OPTIMAL" : "closed", text_color=isFri and isSafe ? OK : GRY, text_size=size.small)
    
    table.cell(dash, 6, 4, "Mo Profit Rec", text_color=GRY, text_size=size.small)
    table.cell(dash, 7, 4, "₹15k–25k",       text_color=OK, text_size=size.small)
    table.cell(dash, 6, 5, "Layer Count",   text_color=GRY, text_size=size.small)
    table.cell(dash, 7, 5, "Up to 3",        text_color=WH, text_size=size.small)

    table.cell(dash, 6, 7, "── MARKET ──", text_color=WH, bgcolor=HDR, text_size=size.small)
    table.cell(dash, 7, 7, "Sniper Sensors", text_color=WH, bgcolor=HDR, text_size=size.small)
    table.cell(dash, 6, 8, "India VIX",     text_color=GRY, text_size=size.small)
    table.cell(dash, 7, 8, str.tostring(vixClose, "0.00"), text_color=WH, text_size=size.small)
    table.cell(dash, 6, 9, "Sniper Ceil",   text_color=GRY, text_size=size.small)
    table.cell(dash, 7, 9, str.tostring(vixCeil, "0.0"),  text_color=color.orange, text_size=size.small)
    table.cell(dash, 6, 10, "ATR (14)",      text_color=GRY, text_size=size.small)
    table.cell(dash, 7, 10, str.tostring(atr, "0"),       text_color=WH, text_size=size.small)
    table.cell(dash, 6, 11, "Risk Score",    text_color=GRY, text_size=size.small)
    table.cell(dash, 7, 11, str.tostring(score) + "/7",  text_color=score >= 4 ? FAIL : OK, text_size=size.small)
    table.cell(dash, 6, 12, "V24 Velocity", text_color=GRY, text_size=size.small)
    table.cell(dash, 7, 12, str.tostring(velocity, "0.0") + "%", text_color=velocity > velocityThres ? FAIL : OK, text_size=size.small)
    
    // VIX Divergence (The Sept-24 Warning)
    bool isVixDiv = ta.roc(close, 5) > 0 and ta.roc(vixClose, 5) > 0
    table.cell(dash, 6, 13, "VIX Div.",     text_color=GRY, text_size=size.small)
    table.cell(dash, 7, 13, isVixDiv ? "DIVERGENCE" : "STABLE", text_color=isVixDiv ? color.orange : OK, text_size=size.small)

// =============================================================================
// [6] VISUALS (Background & Plots)
// =============================================================================
bgcolor(isStorm ? color.new(FAIL, 92) : isSelective ? color.new(WARN, 94) : isSafe ? color.new(OK, 94) : na)

// Horizon Safety Floors
plot(70, "Normal Floor", color.new(color.yellow, 60), 1, plot.style_linebr)
plot(80, "High Safety", color.new(color.green, 60), 1, plot.style_linebr)
plot(90, "Peak Safety", color.new(color.aqua, 60), 1, plot.style_linebr)

// Sniper Labels
plotshape(entrySignal and isSafe, "V2024 SNIPE", shape.labeldown, location.abovebar, OK, 0, "🎯 SNIPER LAYER", WH, false, size.small)
plotshape(isStorm, "STORM WARNING", shape.xcross, location.bottom, FAIL, 0, "🛑 STORM LOCK", WH, false, size.normal)

// Dynamic Planning Lines
plot(isSafe ? math.round((close - strikeDist)/50)*50 : na, "Planning BP", color.new(OK, 20), 2, plot.style_stepline)
plot(isSafe ? math.round((close + strikeDist)/50)*50 : na, "Planning BC", color.new(FAIL, 20), 2, plot.style_stepline)

Overview

NIFTY SpreadGuard V2024 - Mega-Sidebar Sniper computes a danger score based on ATR, VIX rate of change, Bollinger Band width, and price velocity to classify the market into safe, selective, or storm regimes. The output is displayed in a customizable eight-column dashboard overlaid on the price chart, assisting traders in selecting recommended out-of-the-money credit spread strike distances.

Dynamic risk score using VIX and price velocity
Multi-timeframe EMA trend alignment filter
Market regime classification system
Customizable eight-column HUD dashboard overlay

Details

Published by

pravindev666 on GitHub

Code credit

Antigravity, as written in the script's header

Type

Indicator, Pine Script v5

Draws

On the price chart

Markets

Indices

Timeframes

M15-H1

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

File

NIFTY_SpreadGuard_V2024.pine

Repository

github.com/pravindev666/SpreadGuard-V24-Algorithmic-Nifty-Options-Engine

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
VIX Ticker Source	`symbol`	`NSE:INDIAVIX`	`vixTicker`
Velocity Storm Trigger (%)	`float`	`4.5`	`velocityThres`
Dynamic VIX Avg Mult	`float`	`1.20`	`vixCeilMult`
Base OTM Distance	`float`	`450.0`	`strikeDist`
Base Lots (1 Lot = 50 Qty)	`int`	`1`	`capital_lots`
Show 8-Column Dashboard	`bool`	`true`	`showHUD`
HUD Position	`string`	`position.top_right`	`hudPos`
Sidebar Opacity	`int`	`85`	`opacityHUD`

Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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