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Custom Indicators in OptionsOracle

OptionsOracle provides ability to add up to two indicators. These indicators can be seen in Greek mode. Based on your requirement, you have to write your own formula.

One of our reader requested, they need "Time to Expiry" column to be added in Options Chain view.

Let's quickly find out solution to this using Indicators.

Click on Config -> Indicators

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Let's add formula in Equation field:
Math.ceil(Option.TimeToExpiration*366)

Option.TimeToExpiration is variable to find TimeToExpiration, but it shows result in terms of year. But we need result to be displayed in days (like 20 days) and not in years (0.054 years). So we have to multiply it by 365 days.

Even after multiplying it by 365, it may shows result considering decimal value (example 19.20 days) that's difficult for us to digest. Instead we will prefer to round off to higher number. This can be done using maths function ceil.

In screenshot, Format N0 (N and number 0) means show me result in Integers without any decimals.

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Save it and just enable Greek view by clicking GRK button. Here is result. Please see last column.

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Hope it helps you.

Options Oracle NSE is options analysis software, options strategy analysis, quotes, options chains, equity options, index options and volatility

Options Oracle NSE is options analysis software, options strategy analysis, quotes, options chains, equity options, index options and volatility

Santosh Kumar Pasi, Options Trader and Trainer: Custom Indicators in OptionsOracle

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3 comments:

  1. Thanks Santosh for the formula for "Time To Expiry" at my request
    Extremly very useful

    ReplyDelete
  2. You should also use the 2nd indicator Ask/Bid rates difference to avoid getting into wrong option strike

    ReplyDelete
    Replies
    1. Yes Indicator 1 and 2 can be customized based on your need.

      Delete

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