Here's a super setup with a ~70% win rate & very high R:R for Options Traders.

Name of this setup is - FSC.

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Principle - The First 5/15 min candle of the day is very important. It gives a good indication of what is going to happen with that Index/stock in intraday.
One of the many types of candles is 'Strong' candle.

A strong candle is the one that either has no wick or has a wick on the downside (for green candle) or on the upside (for red).
Now if this candle forms in the first 5 min of the day, it's called FSC - First Strong Candle.

Entry Criteria - Enter at 9:20 am on the Stock forming FSC in 5 Min TF. Go long if FSC is green, short if FSC is Red.

Instruments - Can go with Options, Futures or even cash. Remember this is an Intraday strategy.

SL - low of FSC.

Trailing of SL - using PA-based pivots. You can use VWAP too.

All patterns that a Trader must know -
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(Free PDF inside)

Hammer

- bullish signal, consisting of a short upper body and longer lower wick.

- forms because the prices bounced back even after selling pressure.

- hammer at the bottom of a downtrend indicates that the trend has changed to bullish.

Hanging Man

- A hammer formation at the top of an uptrend.

- It is a bearish signal indicating the end of the uptrend.

- The long lower wick indicates that the buyers have tried to keep the prices up but the sellers are gaining control.

Inverted Hammer

- If it forms at the bottom of a downtrend is a bullish trend reversal signal.

- It indicates that the buyers were able to resist selling pressure as sellers were not able to take the price down much.

- View confirms by a green candle afterward.

Shooting Star

- inverted hammer formation at the top of an uptrend.

- It is a bearish trend reversal signal.

- The long upper wick indicates that the buyers were not able to take the prices up, as sellers are gaining control.

- confirm by red candle afterwards.