I want to automate option trading using TradingView signals and AlgoDelta JSON Bridge. When a BUY signal comes, I want to sell a Put option and buy a hedge option. When a SELL signal comes, I want to sell a Call option and buy a hedge option.
Can anyone tell me the ideal process to do that ?
Yes sir, you can execute hedged option trades using the Order 1 and Order 2 features in AlgoDelta JSON Bridge. Follow these steps:
-Step 1: Configure the BUY Side
Open JSON Bridge and configure the BUY side signal. In Order 1, configure the hedge leg for your Sell Put strategy.
Then configure Order 2 for the main Sell Put leg.
Once both orders are configured, copy the generated JSON array from the right-hand side.
-Step 2: Configure the SELL Side
Now configure the SELL side signal. In Order 1, configure the hedge leg for your Sell Call strategy.
Then configure Order 2 for the main Sell Call leg.
Copy the generated JSON array for the SELL side as well.
-Step 3: Create TradingView Alerts
Create two separate alerts in TradingView:
BUY Alert -> Use the BUY-side JSON array.
SELL Alert -> Use the SELL-side JSON array.
Then copy Webhook and placed in the notification options.
-Step 4: Execute Your Strategy
Once both alerts are configured, AlgoDelta can process the corresponding orders when your indicator generates a BUY or SELL signal, according to your JSON Bridge configuration.
This allows you to configure the hedge and main option leg for each signal and execute them through separate TradingView alerts.
