Straddle Chart with Manual Strike Selection and Candlestick View in DEXT

Feature Requests ✋
1

Request to Introduce a Straddle Chart Feature In DEXT Terminal

Hi , @Bhavya_Jain

I would like to request the introduction of a Straddle Chart feature to improve options trading analysis and provide greater flexibility to traders.

Proposed Features

  1. Manual Strike Selection: Allow users to manually select the desired Call (CE) and Put (PE) strikes instead of restricting them to predefined or automatically selected strikes.

  2. Candlestick Chart: Provide a candlestick chart for the combined straddle premium, calculated by adding the premiums of the selected Call and Put options (CE + PE).

  3. Customizable Chart Settings: Allow users to select different timeframes and use standard charting tools and indicators to analyze straddle price movements.

  4. Real-Time Updates: The chart should update dynamically with live market data, reflecting changes in the selected Call and Put premiums.

2

@SapphireVlll You can already select your preferred strike in DEXT T3’s Straddle Chart by switching from ATM Continuous to Contract-wise, where you can choose the expiry, strike price and timeframe from 1min to 1hr

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Alternatively, you can colour-sync Straddle Chain with Straddle Chart and navigate across strikes using the ↑ / ↓ arrow keys. The chart will update automatically for the selected strike

We’ve also noted your suggestion to view the combined straddle premium as candlesticks, along with additional charting tools and indicators.

3

Appreciate the quick reply. @Bhavya_Jain

1. Problem Statement

The current Straddle Chart uses a line chart to display the Underlying, Straddle, and Synthetic Future. When multiple price movements and fluctuations are displayed together, the chart becomes cluttered and difficult to interpret.

The line chart also has limitations in showing price action, including open, high, low, and close values, making it difficult for traders to analyze market movements and identify trends clearly.

2. Proposed Enhancements

A. Introduce Candlestick Chart

  • Provide a candlestick chart option alongside the existing line chart.

  • Display OHLC data to help users understand price action more clearly.

  • Allow users to analyze price movements, trends, and reversals more effectively.

  • Maintain the existing line chart as an alternative for users who prefer it.

B. Add Manual Strike Selection

  • Allow users to manually select Call (CE) and Put (PE) strikes, similar to the strike selection interface shown in the attached screenshot.

  • Provide checkboxes against individual strike prices for selecting the desired CE and PE contracts.

  • Allow users to select multiple strikes according to their trading strategy.

  • Update the chart dynamically based on the selected strikes.

  • Keep the interface simple and intuitive to avoid unnecessary chart clutter.

C. Retain Existing Automatic Selection

  • Keep the current automatic strike selection functionality as the default behavior.

  • Allow users to switch between automatic and manual strike selection whenever required.

  • Ensure that manual selection does not interfere with the existing automatic mode.

3. Expected Benefits

  • Improved chart readability and visual clarity.

  • Better understanding of price action through candlestick visualization.

  • Greater flexibility in analyzing specific strikes and combinations.

  • Reduced visual clutter by displaying only the required contracts.

  • Improved usability for both discretionary traders and options strategy analysts.

4. Expected Behaviour

The Straddle Chart should continue to work as it does currently by default. Users should have the option to switch to candlestick visualization and manually select the desired CE and PE strikes whenever they need more detailed analysis.

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4

@SapphireVlll Thanks for elaborating on the use case.

We understand that you’re looking for two distinct improvements: the ability to analyse combined option premiums through candlestick/OHLC charts rather than only line charts, and the flexibility to independently select multiple CE/PE strikes to build and track custom premium combinations.

While DEXT T3 already supports ATM Continuous and Contract-wise Straddle Charts, your requirement goes beyond selecting a single common strike.

We’ll take these specific requirements into consideration as we improve the straddle charting experience.

Appreciate the detailed suggestions!