options millionaire
The script uses the Bollinger Band Width Percentage (BBW%) to detect volatility compression (low volatility) and expansion phases (high volatility), and it colors the chart background accordingly.
Green background highlights favorable bullish expansion conditions, while red background signals bearish expansion phases.
How the indicator works (concept overview)
Volatility Model:
BBW% is used to measure how “tight” or “wide” the Bollinger Bands are.
• Low BBW% = volatility compression (potential breakout zone)
• High BBW% = expansion (trend acceleration)
Momentum Exhaustion:
The Stochastic %K identifies overbought and oversold conditions.
Turning-point signals occur when the market reaches an exhaustion level and volatility enters a specific phase.
Signal Generation:
• CALL signals appear when the market is oversold during a bullish or expanding volatility phase.
• PUT signals appear when the market is overbought during a bearish or expanding volatility phase.
How to use it
Works well for options strategies, reversal setups, and mean-reversion entries.
Effective across multiple assets (stocks, crypto, forex).
Best performance on 5m–1h timeframes.
Use with market structure or confirmation indicators to refine entry points.
What makes it original
While BBW% and Stochastic are classic tools, Options Millionaire combines them into a turning-point engine that focuses specifically on volatility compression → expansion transitions aligned with momentum exhaustion.
This dual-filter approach helps identify reversals with better timing compared to using standard indicators separately.
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact toptraderIO96 directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact toptraderIO96 directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.