TradingView Strategies
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TradingView Strategies

Options Strategy

Build a TradingView strategy that buys calls and puts from your alerts: how Direction decides what each alert does, how the contract is picked, sizing, exits and broker differences.

An options strategy buys single calls and puts. The alert only says the ticker and buy or sell. Your strategy picks the contract, how many to buy, and when to get out.

Brokers: Interactive Brokers, Tradier and Robinhood. Schwab does not take TradingView options trades.

What each alert does

Direction decides it. These two setups behave the same on every broker that supports them:

What each alert does, by Direction BUY ALERT SELL ALERT DIRECTION Calls IBKR, Tradier, Robinhood Buys a call Contract from your expiration and strike position. Closes the call Opens nothing. Nothing held means nothing happens. DIRECTION Both IBKR, Tradier Closes any put, buys a call Flips from bearish to bullish in one alert. Closes any call, buys a put Flips from bullish to bearish in one alert. On Robinhood, Both behaves like Calls: a sell alert closes the call and buys no put.
  • Calls is the simplest: bullish only. A buy alert opens, a sell alert closes.
  • Both trades both ways on IBKR and Tradier, flipping from calls to puts and back.
Heads up

Puts works differently by broker. On IBKR a sell alert buys the put and a buy alert closes it. On Tradier and Robinhood it is the other way round. If you want puts from a sell alert everywhere, use Both on IBKR or Tradier, or a Spreads strategy with Sell alert opens set to Put debit.

Build it

  1. Create your alert in TradingView and prepare it in the app. How TradingView Trading Works shows how.

  2. On Strategies, click New strategy, and set Source to TradingView.

  3. Set Name to your alert’s name and Instrument to Options. Choose IBKR, Tradier or Robinhood on the Brokers tab.

  4. Set Direction to Calls or Both.

  5. Set Ticker to your chart’s symbol, or ALL.

  6. Pick the contract with Default expiration and Strike position (below).

  7. Set the size, a stop loss and a take profit.

The options fields of a TradingView strategyThe options fields of a TradingView strategy Direction, order settings, expiration and strike position for a QQQ strategy on Tradier.

Picking the contract

The alert never names a strike or a date. They come from two settings, read when the alert fires.

SettingChoiceResult
Default expiration0DTEExpires today
WeeklyAbout 7 days out
MonthlyAbout 30 days out
FridayThis Friday’s contract
A numberThat many days out
Strike positionAt the moneyThe strike nearest the price
Out of the moneyCheaper, needs a bigger move
In the moneyCosts more, less time decay

How many contracts

Under Sizing, set How to pick the trade size to Fixed size and Default quantity in Contracts (2 buys two) or Dollars ($500 buys as many as $500 pays for). A sell alert closes what is held, whatever this is set to.

Order settings

SettingChooseWhy
EntryLimit, priced at AskFills fast without paying through a wide market.
ExitMarket, or Limit on RobinhoodA limit exit that does not fill leaves you in the trade.
Time in forceDayAn unfilled order is cancelled at the close.
Note

Robinhood has no market order for options. The editor only offers Limit there, priced to fill.

Getting out

Set Stop loss and Take profit under Risk management. They close the option on their own, with no alert needed. A sell alert (with Calls) or the opposite alert (with Both) closes it too, whichever comes first.

Repeat alerts

Two buy alerts in a row buy twice on Calls, unless Double-down protection under Protections is on. Turn it on to hold one position per ticker. On IBKR with Both, a repeat buy closes the call and buys a fresh one.

Test it

  1. Set Default quantity to 1 contract, or use a paper account.

  2. Fire the buy alert. Activity shows the alert, the contract picked, the order and the fill.

  3. Fire the sell alert. With Calls, the call closes. With Both, the call closes and a put opens.