STR Strength

STR Strength – CE/PE VWAP Deviation + Straddle Volatility Meter

💡 Key Features
🔹 Strength Calculation

Computes Call Strength (CE) and Put Strength (PE) as the deviation of close from intraday VWAP.
Positive strength → trading above VWAP (bullish bias).
Negative strength → trading below VWAP (bearish bias).

🔹 Smoothing Option
Optionally smooths the strength values using a simple moving average for better clarity and trend visibility.

🔹 Volatility Detection
Monitors straddle percentage change per bar (CE + PE combined).
When volatility exceeds your defined threshold, chart background highlights in yellow.

🔹 Live Data Table
Displays real-time metrics at the bottom of the chart:
CE Strength
PE Strength
Total Straddle Value

📊 How to Interpret
Lime Line (CE Strength): Bullish bias in the call option.
Red Line (PE Strength): Bearish bias in the put option.
Yellow Background: Indicates high volatility movement in straddle value.

⚠️ Disclaimer
This indicator is provided for educational and analytical purposes only.
It does not provide trading advice or buy/sell signals.
Use responsibly and in conjunction with your market analysis.