Sri - Option (CE-PE Crossover) PRO Plus

📊 Sri – Option (CE-PE Crossover) PRO Plus
Advanced Option Premium Crossover & Strength Monitor for Index and Stock Options

This indicator is designed for option traders who focus on premium flow, momentum, and crossover behaviour between Call (CE) and Put (PE) contracts rather than relying only on price or traditional indicators. It provides a dynamic, real-time comparison of Call and Put premiums, helping traders identify early directional bias in the underlying market.

🔷 Concept & Purpose

The core idea behind this tool is that option premium behaviour often reveals smart money positioning before the underlying price moves clearly. When Call and Put premiums diverge, compress, or cross, they frequently signal changes in volatility, trend strength, or institutional activity.

This script continuously tracks both CE and PE option prices for the selected expiry and strike, and displays their relative behaviour in a structured and visual format. This allows traders to detect:

• Directional dominance between buyers and sellers
• Momentum shifts in option premiums
• Early signs of trend reversal or continuation
• Volatility expansion or contraction
• Strength of bullish vs bearish positioning

🔷 What Makes This Script Unique

Unlike simple option premium charts or open-source premium comparisons, this indicator includes:

✅ Customizable underlying selection (index or stock)
Users can track any NSE derivative instrument.

✅ Fully manual expiry structure
Traders can dynamically change day, month, and year to match weekly or monthly contracts without editing the script.

✅ Strike-based premium monitoring
Both CE and PE strikes can be independently adjusted, allowing ATM, ITM, or OTM strategies.

✅ Real-time premium crossover visualization
The script plots CE and PE premiums together in a separate panel for direct comparison and crossover detection.

✅ Optional premium smoothing
An EMA filter helps reduce noise and highlight momentum shifts in option flow.

✅ Visual premium dominance tracking
Clear color-coded plotting improves decision-making during fast market conditions.

✅ Dynamic premium labels
Live labels display the latest CE and PE values directly on the chart.

✅ Informational option table
A structured dashboard shows:
• Option type
• Strike
• Current premium
This helps maintain quick situational awareness without switching symbols.

🔷 How It Works

The script automatically constructs the correct option symbol based on:

• Underlying
• Expiry
• Strike
• Call or Put type

It then fetches premium data using higher-precision security requests. Optional EMA smoothing is applied to identify:

• Momentum buildup
• Trend sustainability
• Premium compression or expansion

The CE-PE crossover structure acts as a proxy for:

• Bullish bias when Call premium strengthens
• Bearish bias when Put premium dominates
• Consolidation when premiums compress

This methodology is particularly useful during:

• Breakout setups
• Trend reversals
• Intraday option scalping
• Directional swing trades
• Volatility-driven markets

🔷 How to Use

Select your underlying (for example NIFTY or BANKNIFTY).

Enter the correct expiry date.

Choose your strike based on your strategy.

Enable EMA smoothing for cleaner signals.

Watch for:
• CE crossing above PE → Bullish sentiment
• PE crossing above CE → Bearish sentiment
• Divergence → Strong directional momentum
• Compression → Potential breakout

🔷 Best Applications

This indicator is suitable for:

• Intraday option trading
• Momentum strategies
• Scalping and short-term trades
• Volatility breakout setups
• Directional bias confirmation
• Premium flow analysis

It can also be combined with price action, open interest, and volatility indicators for higher probability setups.