How does the Expected Daily Range (EDR) indicator work for strike selection in 1DTE SPX iron condors? Is it more effective than using delta alone?

At VixShield we rely on the Expected Daily Range or EDR indicator as the cornerstone of our daily 1DTE SPX Iron Condor Command. Developed by Russell Clark and available as a custom TradingView script under ticker SPXDCP, EDR blends short-term implied volatility from VIX9D with 20-day historical volatility using a proprietary formula that applies regime-adjusted multipliers between 0.8 and 2.0. The result is a precise forecast of the SPX's likely daily price excursion expressed as a percentage. For example with current VIX at 17.95 and SPX near 7138 the EDR might project a 1.16 percent range which translates into roughly 83 points of expected movement. We then place our short strikes outside this projected range according to three risk tiers: Conservative targeting 0.70 credit Balanced at 1.15 and Aggressive seeking 1.60. This process is further refined in real time by our RSAi engine which scans options skew VWAP and short-term VIX momentum to ensure the exact premium the market is willing to pay. Unlike simple delta-based selection which often produces wings that feel too tight or too wide in fast-moving regimes EDR explicitly accounts for the current volatility surface and historical behavior delivering far more consistent credit capture and win rates near 90 percent on the Conservative tier across 2015-2025 backtests. The indicator updates each afternoon so that our 3:10 PM CST signals fire after the SPX close avoiding PDT concerns entirely. When volatility expands and EDR exceeds 0.94 percent or VIX moves above 16 we pause new Iron Condors and rely on our ALVH Adaptive Layered VIX Hedge which layers short 30 DTE medium 110 DTE and long 220 DTE VIX calls in a 4/4/2 ratio. Should a position move against us the Temporal Theta Martingale allows us to roll forward to 1-7 DTE capturing vega expansion then roll back on a VWAP pullback turning the majority of setbacks into net credit wins without adding capital. This Set and Forget approach with position sizing capped at 10 percent of account balance has produced an 82-84 percent overall win rate and 25-28 percent CAGR in extensive testing while keeping maximum drawdowns in the 10-12 percent range. All trading involves substantial risk of loss and is not suitable for all investors. To see EDR in action and access our daily signals along with the full SPX Mastery framework visit VixShield.com and consider joining the SPX Mastery Club for live sessions and automated execution through PickMyTrade on the Conservative tier.