For 1 DTE SPX iron condors, how do you use the Expected Daily Range (EDR) to select strikes instead of relying on long-term growth assumptions?

At VixShield, we rely exclusively on the Expected Daily Range (EDR) indicator developed by Russell Clark to select strikes for our 1DTE SPX Iron Condors. This proprietary tool, available on TradingView under ticker SPXDCP or SPXMASTERY, blends short-term implied volatility from VIX9D with 20-day historical volatility to forecast the likely daily price movement of the S&P 500. Unlike long-term growth assumptions that attempt to predict multi-year trends, EDR focuses solely on the immediate one-day horizon, delivering three risk-tuned strike recommendations that align with our Conservative, Balanced, and Aggressive credit targets of approximately $0.70, $1.15, and $1.60 respectively. The process begins each trading day at 3:10 PM CST, immediately after the SPX close and the 3:09 PM cascade. We input the current VIX reading, currently at 17.95 with a 5-day moving average of 18.58, and SPX close of 7138.80 into the EDR formula, which applies a weighted multiplier between 0.8 and 2.0 based on the prevailing regime. This generates an expected daily range, for example 1.16 percent or roughly 83 points on either side of the close under current conditions. RSAi, our Rapid Skew AI engine, then refines these EDR outputs by analyzing real-time options skew, VWAP positioning, and short-term VIX momentum to fine-tune the exact wing strikes that deliver the precise premium the market is offering. For the Conservative tier, we typically place wings outside the full EDR projection to achieve our targeted 90 percent win rate of approximately 18 winning days out of 20. The Balanced tier aligns closer to one standard deviation, while the Aggressive tier hugs the edges for higher credit but accepts more risk. This methodology is embedded within our Iron Condor Command, the core daily income strategy of the Unlimited Cash System. We maintain a strict Set and Forget approach with no stop losses, allowing the Theta Time Shift mechanism to recover any threatened positions by rolling forward to 1-7 DTE during volatility spikes when EDR exceeds 0.94 percent or VIX rises above 16, then rolling back on VWAP pullbacks. Protection is further enhanced through our ALVH Adaptive Layered VIX Hedge, which layers VIX calls across 30, 110, and 220 DTE in a 4/4/2 ratio per 10-contract base unit, cutting drawdowns by 35-40 percent at an annual cost of only 1-2 percent of account value. Position sizing never exceeds 10 percent of total account balance, and we limit auto-execution via PickMyTrade to the Conservative tier only. By anchoring every decision to EDR and RSAi rather than speculative long-term forecasts, we achieve consistent daily income while remaining indifferent to directional bias. All trading involves substantial risk of loss and is not suitable for all investors. Visit vixshield.com to explore the full SPX Mastery methodology, access the EDR indicator, and join our daily signal workflow.