HEERA DIAMOND OPTION PRO

This indicator is designed for option sellers who need trend confirmation + key intraday levels to manage risk and time entries.
It combines Daily CPR, Supertrend (10,2), and VWAP — three essential tools that help filter trades and avoid false breakouts.

⚡ Components & Role in Option Selling:

Central Pivot Range (CPR – Daily)

Defines the intraday trend bias (above bullish, below bearish).

Narrow CPR → likely trending day → avoid aggressive selling.

Wide CPR → sideways market → better for option selling (short straddle/strangle, iron condor).

Supertrend (10,2)

Provides directional bias.

For option sellers, use this as a stop-loss indicator:

Stay short OTM Calls if price trades below Supertrend (bearish).

Stay short OTM Puts if price trades above Supertrend (bullish).

VWAP (Daily Anchored)

Acts as a fair value line.

Option sellers use VWAP as a mean-reversion reference:

If price stays close to VWAP → sideways → good for selling options.

If price trends away strongly from VWAP → avoid shorting both sides (avoid straddles).

🎯 Suggested Option Selling Use:

Straddle/Strangle Selling → When price is inside CPR and close to VWAP, with Supertrend flat.

Directional Credit Spreads (Bear Call / Bull Put) → When CPR + VWAP + Supertrend align in one direction.

Avoid Selling → If CPR is narrow and market breaks strongly (high trending risk).