ODTE Layman Signals

📌 Script Name

Layman Options Signals – Structured BUY CALL / BUY PUT with SL & TP

📖 Overview

This indicator is a complete, finished intraday trading system designed to simplify options trading (including 0DTE and weekly options) by converting price action and market structure into clear, actionable signals.

The script performs all analysis in the background and displays only what the trader needs to execute consistently:

BUY CALL or BUY PUT

Predefined Stop Loss (SL)

Two Take Profit levels (TP1 and TP2)

Trade status and levels displayed in a live status box

The focus of this tool is execution discipline, not prediction.

🧠 Core Concepts Used (What Makes This Script Original)

This script combines multiple price-action concepts into a single, rule-based framework:

1️⃣ Opening Range Breakout (ORB)

The script calculates the opening range high and low using the first X minutes of the regular session.

Trades are only allowed above ORB high for CALLs and below ORB low for PUTs.

This filters low-quality trades during early chop.

2️⃣ Market Structure Confirmation

CALL trades require higher highs and higher lows

PUT trades require lower lows and lower highs

This prevents trading against structure.

3️⃣ Retest & Liquidity Sweep Validation

Breakouts are validated using:

ORB retests (price accepts above/below the range)

Liquidity sweeps (false breakouts that trap traders)

This helps reduce fake breakouts.

4️⃣ Volatility-Aware Risk Management

Stop losses are placed using market structure + ATR buffer

This avoids stops being placed at obvious levels.

5️⃣ Multi-Target Trade Management

TP1 = partial profit (risk reduction)

TP2 = runner target (trend continuation)

After TP1, stop loss can move to breakeven (optional)

6️⃣ Discipline Controls

Only one active trade at a time

Cooldown period after a stop loss

Prevents over-trading and revenge trading

📊 What the Indicator Displays

The script plots the following directly on the chart:

Entry level

Stop Loss (SL)

Take Profit 1 (TP1)

Take Profit 2 (TP2)

Opening Range High & Low

It also includes a Status Box that always shows one of the following states:

WAIT

BUY CALL

BUY PUT

IN TRADE

COOLDOWN

This allows traders to understand the current state at a glance without reading code.

▶️ How to Use the Indicator
Recommended Timeframes

1-minute or 2-minute charts

Intraday use only

Entry Rules

When BUY CALL appears → Buy an ATM or slightly ITM call

When BUY PUT appears → Buy an ATM or slightly ITM put

Risk Management

Exit immediately if price hits the SL line

Take partial profits at TP1

Hold remaining position for TP2 if conditions allow

When Status Shows WAIT or COOLDOWN

No trade should be taken

⚙️ Recommended Instruments

SPY / QQQ

Liquid large-cap stocks

Intraday options (0DTE / weeklies)

⚠️ Important Disclaimer

This script is provided for educational purposes only.

It is not financial advice

It does not guarantee profits

It does not place trades automatically

Options trading involves significant risk

Always test using paper trading or small size before live use.

🎯 Who This Script Is For

✔ Traders who want clear rules
✔ Traders who prefer price action over indicators
✔ Options traders who value risk management
✔ Users who want less chart clutter and more discipline

❌ Not intended for swing trading
❌ Not intended for automated trading systems

🧩 Final Notes

This is a complete, finished indicator, not a test or experimental script.
All logic is deterministic, non-repainting, and designed for real-time use.

The philosophy behind this tool is simple:

Good trading comes from structure, discipline, and risk control — not prediction.