If you want to create your option strategy without coding, consider using algorithmic trading. An algorithmic trading strategy can be highly efficient as long as you provide the right directions. Moreover, the development of such options trading apps can also lead to significant investments. 

Automation, accuracy, and efficiency are key factors to consider when building an options trading app. Not knowing how to code can often prevent you from developing the best option chain strategy, leading to inefficient results. No-code can definitely be of great help, but if you're going for advanced functionalities, you will need to be aware of the basics of coding. 

Yes, algo trading can be beneficial, even if you're opting for option chain strategy development without coding. The integration of algorithmic trading will play an essential role in reducing the need for manual intervention. The algorithmic strategy will execute the orders on your behalf, from buying to selling. 

The development of automated algorithmic trading platforms can also reduce manual errors. This is one of the key reasons why most people prefer this for trading. The personalization component helps with immediate order execution. Apart from beginners, many expert traders also use an algorithmic option chain strategy.  

Option Chain Analysis is one of the key factors to consider when building a strategy using No-Code options trading apps. Here's how you can create the plan without the need to code:

1. Create the Algorithmic Trading Platform

The primary purpose of an algorithmic trading platform is to store the data and then retrieve it for backtesting. This platform will help with option chain analysis for buying and selling. Either use a pre-existing platform or create your own algorithmic trading platform. 

Most growing traders prefer using an existing platform because it offers all the necessary tools. Furthermore, you can customize the existing tools, access the data, and integrate them with multiple trading strategies. 

2. Establish the Trading Algorithm Approach

Now, you will need to prepare an algorithmic trading approach. Since you want to build an option chain strategy, you will have to consider various factors, including mathematical reasoning and research, and must also have an understanding of the market. 

Depending on the market you're reading in, you also need to grasp a strong understanding of the market regulations. You'll have to understand the strategy and techniques. However, if there's a strategy that can't be mapped out as a flowchart, coding will not be efficient for that. It is best to establish a rule-based strategy that allows buy and sell orders to be implemented. 

3. Determine the Timeframe and Trade Frequency

When working on an options trading app, it is essential to consider the time frame. At the same time, it is necessary to consider multiple time frames as it will help you determine which one would be an effective and profitable trading platform. 

If you're using any established trading platform, make sure that you monitor it constantly for changes. Furthermore, you'll have to determine the availability goals as well for trading frequency and time frame. It is also advisable to consider long-term trading if you have not been practicing HFT (high-frequency trading) or day trading. 

4. Analyze the Trading Platform

You will have to evaluate the trading algorithm, which is why you must backtest. Do not deposit any real money if you've not backtested your strategy. You must assess various factors and check how each algorithm is working. 

You must backtest your strategy by setting up a demo account. However, keep in mind that there may be changes due to real-world factors, such as swap fees, commissions, and slippage. These factors are often not integrated into the demo account, even though they apply to real account holders. 

5. Connect the Algorithm to the Demo Trading Account

You should initially use your demo account for Option Chain Analysis. After that, you can proceed to integrate it into your actual accounting. Demo account trading or paper trading can give you a brief idea of what your profitability will be like once you move to the real account. 

Before you finalize your strategy and use the real account, you must test how your algorithm is performing. If you are starting, it is advisable to trade with a smaller amount. Also, when trading on a real account, you should understand real-life scenarios, such as slippage, commissions, and more. Keep a check and analyse these fluctuations before you finalize your amount. 

Developing a strategy requires understanding the nuances of trading and that particular strategy. Here's a basic scenario of how to build an option chain strategy using any no-code algo trading app:

1. Determine the Strategy

Initially, decide which strategy you'll use. You can determine the strategy, the simple moving average, and so on. For example, you can use an Iron Condor or a Bull Call Spread. You can either create your own with the help of drag-and-drop blocks or use the pre-built templates. 

2. Set the Account Size and Position Size

Since you're testing the strategy, you need to decide on an ideal account size. You can initially determine how much you'll invest in each position. You need to set the account size to the amount you'll be trading. Next, you can set the position sizing to be fixed. It should be available in the platform's settings menu. Some no-code apps include sliders and input fields that let you specify the position and size. 

3. Set the Symbols

In the next stage, you need to set the symbol as well. Determine the account you're trading in and then set the symbols accordingly. Look for the options supported by your broker, such as stocks, option chains, or indices. 

4. Set the Entry and Exit Rule

You will now have to decide the entry and exit rules for your trade. The entry condition will hold based on the strategy you're using. It is advisable to check how the exit signal will be closed. You need to determine the pricing structure. 

5. Test the Strategy

You can check how the entry and exit signals look and then highlight the strategy accordingly. Run the strategy and review the performance. Furthermore, you must review the equity curve and let the platform execute the logic in the background. 

6. Automate and Deploy the Strategy

Once you review the results, you will need to automate execution by linking it to your broker account. The system will eventually run automatically, strategically, and in real time based on your rules. Therefore, no manual order placement or coding will be required. 

When you're developing your strategy using an option trading app, it is crucial to consider the option chain strategy as well. This includes:

Sharpe Ratio Analysis:

The strategy must be evaluated using the Sharpe Ratio. This will help you understand and measure performance relative to risk-free assets, which is crucial for assessing risk and reward. However, the frequency and period are fundamental in this case for determining returns and volatility. 

Trading frequency:

Option chain analysis often focuses on trading frequency. Capital use and difficulty can significantly affect how frequently you trade. High trade frequencies typically involve substantial amounts of money and can impact accuracy. It needs to be properly backtested to avoid mistakes. You'll have to consider the risk, speed, and cost to set the frequency accordingly. 

Benchmark use:

The more information you gather, the better. It is crucial to assess effectiveness, which is why you must use averages and indicators to understand how much your earnings would be and how much you can risk. You should set a benchmark during option chain analysis to determine whether your strategy is effective. 

Volatility consideration:

Stick curve and the Sharpe Ratio have a significant impact on volatility. The success and return measures are slightly less stable when the investments are unpredictable. It is best to thoroughly check for the fluctuations especially in case of volatility considerations. 

When it comes to option chain strategy, you don't have to learn how to code. Advancements in algorithmic trading strategies will allow you to do so easily. Also, consider building models and then customizing and practicing demo trades accordingly. In the initial stages, it is best to establish a sound backtesting strategy and then implement it. Be patient and develop your skills before you finally execute any trade.