TraderVoila - Wheel Put Timer LITE - 15mTraderVoila — Wheel Put Timer LITE
Times intraday entries and exits for selling cash-secured puts with the Wheel strategy.
What it does
Selling puts works best when you sell into weakness (premium is inflated) and close into strength (premium has decayed). This indicator marks both moments on a 15-minute chart:
SELL PUT — the stock has dipped meaningfully below VWAP, RSI has dipped and is now turning back up, and the stock remains above its daily 50 SMA. A dip in a healthy uptrend, not a falling knife.
BUY CLOSE — the stock has recovered above VWAP with RSI pushing into strength. The premium you collected has likely decayed — consider closing early to free up capital for the next trade.
How it works
RSI(14) must dip below your threshold (default 38) and curl back upward — catching the turn, not the fall
Price must be stretched at least 0.4% below VWAP for the dip to matter
Daily trend filter: price must be above the daily 50 SMA, calculated from the daily timeframe regardless of your chart. Orange shading shows when this filter is blocking signals
The first 30 minutes of the session are skipped (red shading) — spreads are wide and fills are poor at the open
A cooldown prevents signal spam; all parameters are adjustable
How to use it
Apply to a 15m chart of a liquid, optionable stock you'd be comfortable owning
When SELL PUT fires, check your broker's option chain for a put at your preferred delta and expiration
When BUY CLOSE fires on a position you're short, evaluate closing early vs. holding to expiration
Set alerts on both conditions to monitor your watchlist hands-free
Honest limitations
TradingView cannot see options prices, IV, or Greeks. This tool times the underlying — put premium closely follows the stock's intraday dips and recoveries, so the underlying is a reliable proxy, but always verify the actual contract, premium, and liquidity on your broker before trading. This is a timing aid, not financial advice.
Built by TraderVoila for Wheel strategy traders.
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