This bot checks for IV rank above 50 and opens short positions depending on RSI, CCI, and BBand movement indicators. Anything below 50 IVR will check for movement indicators and open long put/call spreads.
Allocation amounts, deviations, and DTE's are as close as I could get them to Kirk's strategy and should change based on portfolio size (except for long put's/call's, the 1% recommendation was too small with my account to open the positions so it's set to 2%). For example, smaller portfolios may want to remove the iron butterfly in the scanner and only open iron condors. Hedging only works for short puts/spreads (hedging for condors and butterfly's is a little harder to incorporate).
I also combined them with some of the learning materials and bot ideas from workshops. Give it a go and let me know what you guys think.
Bearish Indicator if stock below 200 day SMA
Bearish Indicator for directional swings during bear environment 20 day RSI above 50 moving in downward direction
Bullish Indicator for directional swings during bear environment 20 day RSI blow 10 movement in upward direction
Bullish Indicator if stock above 200 day SMA
Bearish Indicator for directional swings during bull environment 20 day RSI above 80moving in downward direction
Bullish Indicator for directional swings during bull environment 20 day RSI blow 40 movement in upward direction
Added checks if positions are available
Added requirement that each symbol from the scanner will only open a new position each week (should provide two positions at a time since most positions close after two-three weeks and provide significant spread and different investment based on stock movement/volatility over a week)
Iron Condor Wings: 5% spread of inside, 10% spread for outside.