BPS Dashboard (Alert)

#BPS Dashboard (Alert)
1. Script Loading:
Add the script to your chart. Ensure you are on a liquid ticker (like SPX or high-volume stocks) as the volatility and "Expected Move" calculations rely on consistent price data.

2. Dashboard Placement:
By default, the dashboard is set to the Bottom-Right with Normal text size. If you need to move it, go to Settings > Dashboard Settings to adjust position and scale.

3. Trend Confirmation (Bias):
Use the "Bias" cell as your primary filter. Only consider opening a Bull Put Spread when the status is BULLISH or STRONG BULLISH.

4. Volatility Check: Monitor the Ann. Vol (Annualized Volatility).
The script highlights this in green when risk is low (<35%) and red when it's high (>50%). High vol increases your premium but also the risk of a fast move against you.

5. Strike Selection (Short Put):
The dashboard automatically calculates a suggested Short Put strike based on a 1.3x standard deviation "Expected Move" (approx. 37 days to expiration). Use this as your primary anchor for the "sold" leg.

6. Spread Protection (Long Put):
The Long Put strike is dynamically calculated based on the available buffer. This helps maintain a proportional risk-reward ratio regardless of market conditions.

7. Safety Margin (Buffer): Check the Buffer %!
This tells you how much the price can drop before your Short Put is breached. Aim for a buffer of >6% (Green) for a conservative entry.

8. Automated Alerts: The script is programmed with sound-trigger logic. To activate, click the "Alerts" icon in TradingView, select "BPS Dashboard (Alert)" as the condition, and ensure "Play Sound" is checked.

9. Signal Execution:
Buy Signal: Look for the green triangle below the bars (Neutral to Bullish shift).
Sell/Exit Signal: Look for the red triangle above the bars (Shift to Bearish).

10. Risk Management:
Never rely solely on the dashboard. Use the visual Linear Regression lines (LR50/LR100) on your chart to confirm that the price is not overextended before entering a new position.