Hi, Yes your requirement is possible via Fyers APIBridge.
You can code in pinescript for dynamic strike selection for 5% band. For coding guide, refer here https://kb.mycoder.pro/apibridge/signal-parameters-format-and-protocol-in-apibridge/107 .
Refer this sample strategy using dynamic option strike selection https://mycoder.pro/apibridge/nse-options-algo-strategy-for-tradingview/119
Once you are getting proper strikes buy/sell signals from TradingView, you can place orders via appropriate settings in APIBridge, without any predefined option strikes. Refer: Bypassing Symbol Settings – Only for Advanced Users http://mycoder.pro/apibridge/what-are-symbol-settings/53
For positional trading, the only change required is changing product type from MIS to NRML(delivery). Refer https://kb.mycoder.pro/apibridge/faqs-for-positional-trading-with-apibridge/33
In case you need help in pinescript coding, try 200+ developers at http://mycoder.pro/35
Hope this solves your query.