Below are notes from a successful trader on the Worden forums:

May 13, 2010:

Hi Kubiaks,

Yes I do have pretty good results.
I only take the trade on the long side if the TD-setup triggers within 15% of TDST-support.
and on the short side, if the TD-setup triggers within 15% of TDST-resistance.\
I prefer trading of the hourly chart, and take either naked calls or puts.
I do want to see a reasonable distance between TDST-support and resistance lines.
this tends to scan out stocks that are channeling.
I run my scans against a watchlist of about 200 stocks that have options with penny spreads.I excluded the ones with 5cent and higher spreads. this gives me a quick move on the options, and in most cases I’m out of the trades in a matter of a days. most have returned close to 100% return.  my exits are either when it hits the opposite TDST line, or on a TD-seq buy setup, in case of a short, or seq-setup in case of a long.

oh forgot, I have daily and 5min charts, also with TDST lines, and TD-seq setup indicator. I like to fine tune my entries using the 5min chart. and use a TDseq on daily chart as confirmation.
so when I get a trigger on the hourly, I look at the daily chart, to see (in case of a long entry) if price is closer to support then resistance, and if I see a TDseq buy setup completed, then even better. vice versa for shorts.

July 26, 2010:
although humbled by your remarks, I don’t feel that I’m much in any league. I’ve been trading now for a year or two, and about 3/4 on the way to use it as a full-time income replacement. I think there are many traders here on this forum that are anywhere between the first step and the highest step on the ladder. I just like to post, share, and read about ideas, strategies, etc..

due to problems with the latest SF5 upgrade I haven’t been able to do much today. Yes I do have a “green candle low” scan. hopefully tomorrow will be a better day.
As far as a “trend change” indicator, candle formations can be good. SF has quite a few already built in. one of my methods is to scan on TD0-sequential buy or sell setups, and then wait for confirmation from the other indicators on my chart. TD-sequential, a “DeMark” indicator anticipates trend-changes. many times the signals ar a bit pre-mature, therefore I like the combination with the bollinger band beakout, DPO, and Tema indicator.  The spread between CCI50, CCI20, and CCI5, as well as divergences between price highs and lows and CCI levels, gives some interesting clues.

***
The CCI indicator was developed by Donald Lambert who traded commodities.(so the name stuck)
Its not required that you use it to trade only commodities.
You can use it on anything.

TEMA stands for triple exponential moving average.
Its a more complex type of moving average.

DPO stands for Detrended Price Oscillator.
Its calculated by subtracting a past moving average value from today’s close.

If you Google these you can probably find much more info.

***

June 10, 2011

I used to have a huge watchlist of about 2000 optionable stocks, and run my scans on them continuously.
Recently I have reduced my watchlist to about 20 stocks that are all highly liquid and trade weekly options. My profit average has gone up, my indicators act better on these stocks, and it’s easier to manage. I prefer the intraday trades on the weekly options. Makes me sleep better at night, and I usually don’t make more then 2 or 3 trades a day.

[I only trade] long call and long put plays on the weeklies.

June 28, 2011

something that makes a stock move on a short period. then hop on the calls or puts,  Iprefer the ones that are over $80.00 , the higher the stock price, the larger the moves on the options.
Keep your money management strict, and you’ll make tons…

As you probably know, you need at least $25k in order to daytrade. Or if below 25k a maximum of 3 daytrades in any period of 5 days.

my rules : use 10 to 15% of capital per trade. don’t hold more then 2 trades at any time. 40% stop loss on the option, or if the pattern of the trade is broken (for example a stop loss below a support line on the stock), whichever comes first.
profits add up quick, but so do losses as well. so you have to be very disciplined.  Whatever plan you have, you have to stick to it. with weekly options there is no time for “it will bounce back” thinking.

I don’t usually go lower then 5min charts.

August 2, 2011:

I usually only trade options on stocks/etf’s that trade higher then $80.  more bang 4 ur buck.
I always look at daily first, then hourly, then 15min or 5min.

November 14, 2011:

Trading the weeklys is Technical Analysis on steroids. I’m very happy to have discovered them some time ago. It goes very well with my personality; not much patience, and want to see results as quickly as possible, good or bad. For trading just long calls and long puts, Thursday and Fridays before the OEX are the best, although I do trade em starting Mondays, but just a little smaller positions. If you like to trade option strategies, straddles, calendars, and what have you.. you might be doing better starting at the beginning of the week. I said “might”, cause I dont do those trades, for me its pure long calls and puts. Try your favorite indicator on hourly/15min and 5min charts, on both the stock as well as the option data.

I don’t know what your level of expertise is, but trading weeklys can lead to massive gains (or losses, if you’re not disciplined with a well thought out money management plan) in short period of time. You can apply the same TA as you use on your weekly and daily stock charts as you can on 5min charts.So why wait around so long? we, as opposed to fund managers, can get in/out positions in a second.
papertrade them for a while, and you’ll see you’ll like em. 
have a good one.