About this template
** POST EDITED FOR VERSION 2 **
Hello everyone,
I would like to share here my first bot, which I developed from a backtest done here on OA.
It is a very simple, bullish strategy, which was born for QQQ but of course other underlyings can be tested.
The bot opens short put spreads with delta 55/45 at 45 dte, once a week, only when market conditions occur.
These filters determine whether the bot can open new positions:
1: IV Rank <40
2: the price of the underlying is above 200 SMA
3: the price of the underlying is below 30 SMA
Exit Options:
1: In the backtest Take profit 60%, In the bot Take profit 60%, trailing stop 50/20.
2: Stop loss not set, or set for cases of any market anomalies at -300% of credit, but this condition cannot be achieved as the spread is almost symmetric.
3: Exit at 2 dte.
The width of the spread automatically varies with volatility, the more the stock falls, the wider it widens, going on to create more profit (and more risk) in oversold moments, being a bullish strategy.
The bot and its programming are very simple, I hope you have advice on how to make it technically more accurate and perform better, should the need arise.