How does Green Light Options work?
Quick answerThree lights on every candle: VOLUME (more than its 20-candle average), MARKET (SPY up on the candle) and VWAP (the close above the day's VWAP). All three up is a green light for a CALL; all three down is a PUT. The candle after a light goes out reads WAIT.
The details
- VOLUME ✔: the candle traded more than its 20-candle average.
- MARKET ▲: SPY closed above its last candle.
- VWAP ▲: the close is above the day's VWAP.
All three: 🟢 CALL, with a green arrow under the candle, on every candle it stays on. All three down: a PUT, a red arrow over it. The candle after it goes out: 🟡 WAIT. The trade: in and out.
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