NIFTY CLUB

How to UseNC - Option Signals

Setup & usage guide on TradingView

1Add the indicator to your chart 2Choose your mode — Buyer or Seller 3Save the chart layout 4Search and add an option contract 5Read the signal and take the trade 6Common questions
One indicator, both directions. The same engine runs whether you are buying or selling the option — you pick which with a single setting, and the signals, stop and targets all follow from it.
1

Add the indicator

Open any chart, then load the indicator from the top toolbar.

  1. In the top toolbar, click Indicators.
  2. In the search box, type NC - Option Signals — it appears under Invite-only.
  3. Click the result NC - Option Signals — it is added to the chart instantly.
One script covers both sides. Buying and selling are handled by the same indicator — you choose the direction in the settings. See Step 2.
1 · Where to click
TradingView top toolbar with the Indicators button arrowed
2 · How the tab looks
Indicators panel, Invite-only tab, NC - Option Signals listed
NC - Option SignalsStep 1 of 6
2

Choose your mode

This is the most important setting. It decides which direction the indicator looks for, and everything else follows from it.

  1. Open the settings and find Mode at the top of the Inputs tab.
  2. Pick BUYER MODE or SELLER MODE.
Buyer modeSeller mode
You areBuying the optionSelling / writing the option
You want the premium toRiseFall
Signal fires onA fresh upward run in the premiumA fresh downward run in the premium
Want both at once? One chart instance runs one mode. To watch both directions on the same chart, add the indicator a second time and set the second copy to the other mode.
The mode setting
Indicator settings, Inputs tab, with the Mode dropdown open showing BUYER MODE and SELLER MODE
Mode sits at the top of the Inputs tab — everything below it is display only
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3

Save the chart layout

Saving pins the indicator to your layout so it stays on the chart even when you switch symbols.

  1. At the top-right, click Layout → Save.
  2. Give the layout a name (e.g. NC Options) and save.
Why it matters: once saved, you never re-add the indicator — it carries over automatically to every option you open. Your Mode and Stop Loss settings are saved with it.
Re-save after any settings change. Changing a setting only affects the chart you are on until you save the layout again.
Save the layout
Chart with the indicator loaded and the layout Save control arrowed
Click the layout name at the top-right, then Save
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4

Add an option contract

Load the option contract you want — the indicator recalculates for it automatically.

  1. In the watchlist (right side), click + Add symbol.
  2. Type the underlying and strike, e.g. NIFTY 24200, then click the Options tab to filter.
  3. Pick the CE or PE contract and expiry you want to trade.
Automatic underlying: the engine detects the option’s underlying on its own. No extra setup.
Set the chart to 5m, 10m or 15m. The engine runs on 10-minute data and pauses on any other timeframe, showing Chart Timeframe Not Supported. 5m and 10m give identical signal timing; 15m can lag by up to 10 minutes. 10m is recommended — and note that a 10-minute chart needs a paid TradingView plan, so if you are on the free tier use 5m and lose nothing.
1 · Click add symbol
Watchlist panel with the plus Add symbol button arrowed
The + sits at the top of the watchlist panel
2 · Search & pick the option
Add symbol dialog showing a NIFTY 24200 search with the Options tab selected
Type the underlying and strike, then filter by Options and pick your expiry
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5

Trade the signal

Use the dashboard and the on-chart markers to time your entry.

  1. Check the Analysis dashboard — especially Strike Quality. If it reads Avoid, pick a different strike.
  2. Watch the option chart for a Signal pill to print on candle close.
  3. Once it appears, enter on the next candle — at the Entry marker.
  4. SL and target lines appear on the chart automatically. Four targets: T1, T2, T3 and T4.
  5. Manage the trade yourself. The indicator does not manage positions, exit trades or trail stops. Book at whichever target suits you and trail manually once in profit.
A second signal in one day is tagged. From the second signal onward, an orange marker reads 2nd Signal - Be Cautious. The indicator keeps no record of your position, so it cannot know whether the earlier one has already run its course — check where the move started before entering again.
Signals print on closed candles only. A signal never appears mid-candle and never disappears once printed. If you are watching a live candle, wait for it to close.
The indicator in action
Option chart in Buyer mode showing Buy Signal pills, the Entry marker and the Analysis dashboard
Buy Signal pill on the closed candle, Entry marker on the next one, with the Analysis dashboard top-right
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6

Common questions

I am on a NIFTY chart and see no signals.
Signals only fire on option charts. On an index, stock or futures chart the indicator shows analysis only. Open a CE or PE contract.
The Status says “Signal Given” but I missed the entry.
One signal per momentum run, by design — otherwise a single move would print a signal on every candle. Wait for momentum to break and re-form. A fresh setup can appear on the same chart later the same day, and will be tagged as the second signal.
Why did the signal appear on a candle that already closed?
Signals are confirmed on closed candles only, so they never repaint or vanish. Enter on the next candle, at the Entry marker.
What does 2nd Signal - Be Cautious mean?
It is the second signal of the day on that chart. The indicator keeps no record of your position, so it cannot know whether the first one already ran its course. It is a note to check where the move started before entering again, not a rating of the trade.
My stop keeps getting hit even when the direction was right.
Your Stop Loss setting may be inside the strike’s normal movement. A premium that routinely swings 30–40 points in an hour will take out a 20-point stop on ordinary noise. Widen it, or trade a strike that moves less violently.
Both my CE and PE charts gave a signal. Is that a bug?
No — but read it carefully. In Buyer mode, a Buy on both legs means both premiums are rising at once, which usually means volatility is expanding rather than the market picking a direction. Buying both sides only works if the move that follows is large enough to cover both premiums, so be selective — take the leg your own read supports, or sit it out. In Seller mode, a Sell on both legs is a short straddle setup: on a flat, low-volatility day both premiums fall together and both signals can be correct.
Do I need to keep the chart open for alerts?
No. TradingView alerts run on their servers once set. Two conditions are available, Buy Signal and Sell Signal, and both work on a watchlist as well as a single chart.
Which timeframe should I use?
10 minutes. 5m gives identical signal timing with more candles on screen; 15m can delay a signal by up to 10 minutes. A 10-minute chart needs a paid TradingView plan — on the free tier, use 5m.
Does the indicator exit trades or trail my stop?
No. It marks the entry and draws the levels. Managing and exiting the position is yours.
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