Volatility Inverse Correlation CandleThis is an educational tool that can help you find direct or inverse relations between two assets.
In this case I am using VIX and SPX .
The way it works is the next one :
So I am looking at the current open value of VIX in comparison with the previous close ( if it either above or below) and after on the SPX I am looking into the history and see for example which type of candle we had in respect with the opening value from VIX .
So for example, lets imagine that today is monday, and the weekly open value from VIX was higher than previous friday close value. Now I am going to see with the inverse correlation , if based on this idea, the current weekly candle from SPX finished in a bear candle.
The same can be applied for the bearish situation, so if we had an open from VIX lower than previous close, we are looking to check the SPX bull candle accuracy.
At the same time, for a different type of calculation I have added an internal lookup into heikin ashi values.
If you have any questions please let me know !
Tìm kiếm tập lệnh với "spx"
vix_vx_regressionAn example of the linear regression library, showing the regression of VX futures on the VIX. The beta might help you weight VX futures when hedging SPX vega exposure. A VX future has point multiplier of 1000, whereas SPX options have a point multiplier of 100. Suppose the front month VX future has a beta of 0.6 and the front month SPX straddle has a vega of 8.5. Using these approximations, the VX future will underhedge the SPX straddle, since (0.6 * 1000) < (8.5 * 100). The position will have about 2.5 ($250) vega. Use the R^2 (coefficient of determination) to check how well the model fits the relationship between VX and VIX. The further from one this value, the less useful the model.
(Note that the mini, VXM futures also have a 100 point multiplier).
ES with SPX/SPY Price ScaleThis shows corresponding price levels of SPY and SPX on an ES Chart. It does not draw a full price scale, but draws labels for SPY and SPX price levels on an ES chart which will allow the use to get a sense of what SPY and SPX candles OHLC values might have been just by looking at ES futures candles.
US Recessions with SPX reversals v3 [FornaxTV]In addition to highlighting periods of official US recessions (as defined by the NBER) this script also displays vertical lines for the SPX market top and bottom associated with each recession .
This facilitates more detailed analysis of potential leading and coincident indicators for market tops and bottoms. This is particularly relevant for market tops, which typically precede the start of a recession by several months.
In addition to recessions with SPX market tops and market bottoms:
- A horizontal line can optionally be displayed for the last market top . (NOTE: this line will only be displayed for SPX tickers.)
- Labels can optionally be displayed for market tops & bottoms, plus the start and end of recessions. If the statistics are enabled (see below) these labels will also indicate the number of weeks between key market events, e.g. a market top and the start of a recession.
- A statistics table can optionally be displayed, contained statistics such as the number of weeks wince the last recession & market bottom, as well as averages for all recessions included in the analysis set.
For the recession statistics:
- "Outlier" recessions such as 1945 (WWII, where the market top occurred well after the recession itself) and 2020 (COVID pandemic, which was arguably not a "true" economic recession) can optionally be excluded.
- You can choose to exclude recessions occurring before a specific year.
Buffett IndicatorThis is an open-source version of the Buffett indicator. The old version was code-protected and broken, so I created another version.
It's computed simply as the entire SPX 500 capitalization divided by the US GDP. Since TradingView does not have data for the SPX 500 capitalization, I used quarterly values of SPX devisors as a proxy.
I tried to create another version of the Buffett indicator for other countries/indexes, but I can't find the data. If you can help me find data for index divisors, I can add more choices to this indicator.
It's interesting to see how this indicator's behavior has changed in the last few years. Levels that looked crazy are not so crazy anymore.
Disclaimer
Please remember that past performance may not be indicative of future results.
Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting.
This post and the script don’t provide any financial advice.
Mayfair GoldGold Oscillator using SPX & DXY to measure the moving average cross of the 3.
Gold in Orange
DXY in Green
SPX in Blue
To use this indicator, you need to see the strength (Orange above the 50%) line, use your own configurations and settings for the two MA's as a cross.
The idea is not to enter trades but to know when either SPX or/and DXY is getting stronger or weaker to help with profit-taking of gold positions.
As per any Oscillator - look for patterns, cross-overs and momentum shifts. (Treat like a MACD, RSI or Stochastic).
EMINI OPTIONS HighAccuracy Signal SystemThe SPX Options signal system is based on the Market Internals which ultimately drills down to its underlying stocks and their Movement
So a signal system is created which takes the key market Internals rather than just price alone.
In trading OPTIONS, your Direction earns you money along with Option Writing.
PARAMETERS TAKEN INTO ACCOUNT
1. Key Sector Stocks
2. NYSE TICK INDEX
3. UPVOL and DVOL
4. VIX Bands With Applied Gaussian Methodology
"PRICE OF SPX IS NOT TAKEN IN TO ACCOUNT IN THIS SIGNAL SYSTEM"
Understanding the signal system
1. Do not combine this signal system with any other indicators.
2. Greater than 75% success rate for 15 points in SPX .
Recommended time frames: 1 hour are highly recommended time frames.
But a risky trader can trade with 15 Mins because Market Internals support lower time frames. But trade cautiously and read the disclaimer carefully.
The signal system does not carry any recommendations and the signals are generated mathematically using the underlying MARKET INTERNALS LOGIC
GB · Set upUp & Confirmation (Lower Pane)The GB Set-Up & Confirmation Indicator transforms raw momentum into a clear, color-coded decision framework for intraday scalping.
It’s the heartbeat monitor of 0DTE trading — revealing when momentum quietly shifts and when it explodes into confirmation.
Milliseconds Ahead: Confirm-on-Prior mode mimics predictive confirmation, letting traders catch reversals before the lag candle.
Noise-Adaptive: Near-zero band filtering reduces false breaks from micro volatility.
Visual Precision: Dual markers and labeled confirmations remove hesitation in execution.
Configurable Latency: Sensitivity presets + fine-tune ensure adaptability from SPX 1-min charts to QQQ 5-min momentum waves.
Platform: Designed for lower-pane deployment beneath the main price chart.
Primary Use: Time-sensitive momentum confirmation for 0DTE SPX/SPY/QQQ scalps.
Typical Workflow:
Wait for Early (Set-Up) triangle near the zero band → signals momentum shift.
Enter on the Confirmed triangle (or one candle prior if using “Confirm on Prior”).
Exit when opposite signal fires or wave color fades (momentum exhaustion).
Complementary Indicators: Pairs seamlessly with GB TMA Overlay, GB ORB Shading, or Phoenix Fire Confluence for full-stack entry validation.
Adaptive Sensitivity Presets
- Aggressive: reacts early to momentum pulses (scalp mode).
- Balanced: optimized for intraday consistency.
- Strict: waits for full trend maturity (swing mode).
ES VWAP Overlay for SPX VWAP indicator for SPX. Since SPX does not have volume (index) it's using /es to mimic SPX volume. I find it good for day trading
Comparaison DXY, VIX, SPX, DJI, GVZPine Script indicator compares the normalized values of DXY, VIX, SPX, DJI, and GVZ indices on a single scale from 0 to 100. Here's a breakdown of what it does:
Data Requests: Gets closing prices for:
US Dollar Index (DXY)
VIX Volatility Index
S&P 500 (SPX)
Dow Jones Industrial Average (DJI)
Gold Volatility Index (GVZ)
Normalization: Each index is normalized using a 500-period lookback to scale values between 0-100, making them comparable despite different price scales.
Visualization:
Plots each normalized index with distinct colors
Adds a dotted midline at 50 for reference
Uses thicker linewidth (2) for better visibility
Timeframe Flexibility: Works on any chart timeframe since it uses timeframe.period
This is useful for:
Comparing relative strength/weakness between these key market indicators
Identifying divergences or convergences in their movements
Seeing how different asset classes (currencies, equities, volatility) relate
You could enhance this by:
Adding correlation calculations between pairs
Including options to adjust the normalization period
Adding alerts when instruments diverge beyond certain thresholds
Including volume or other metrics alongside price
Market Inner Strength IndexThe "Market Inner Strength Index" is an indicator designed to visually represent the market strength by analyzing the six major sectors: XLK, XLV, XLF, XLY, XLC and XLI. These sectors represent more than 80% of the SPX index, making their performance crucial for understanding overall market conditions. The indicator calculates the individual strengths of these sectors and combines them to provide an overall market strength index, helping to identify scenarios of sector rotation, euphoria, or panic.
Rationale:
The six major sectors (XLK, XLV, XLF, XLY, XLC, XLI) are essential as they encompass a significant portion of the SPX index. Typically, money rotates among these sectors, meaning some sectors grow while others decline. Rare occasions where all sectors move in the same direction can indicate market-wide euphoria (upwards) or panic (downwards). The Market Inner Strength Index helps track sector performance and identify these scenarios.
Methodology:
Script requests current timeframe data for each of the sectors and assigns scores, based on its performance. It will work best on the daily and higher timeframes but can also be used on the lower timeframes.
Score assignment:
If the sector is green (positive performance) for the given timeframe, it receives positive points.
If the sector is red (negative performance), it receives negative points.
If the current close price is above the previous period high, additional positive points are assigned.
If the current close price is below the previous period low, additional negative points are assigned.
The scores for the six sectors are averaged to compute a total score, which is plotted on the chart. A table displays the performance of each sector, color-coded based on their scores for the last period.
Parameters:
Neutral Zone : Define the neutral zone threshold.
Heikin Ashi : Option to use Heikin Ashi candles instead of normal ones.
Show Divergency : Option to show divergences on the chart. Divergence occurs when the SPY is bullish, but the sector score is bearish, or vice versa. This option will only work on SPY chart.
Sector selections : Enable/disable specific sectors in score calculation.
True Range/Expected MoveThis indicator plots the ratio of True Range/Expected Move of SPX. True Range is simple the high-low range of any period. Expected move is the amount that SPX is predicted to increase or decrease from its current price based on the current level of implied volatility. There are several choices of volatility indexes to choose from. The shift in color from red to green is set by default to 1 but can be adjusted in the settings.
Red bars indicate the true range was below the expected move and green bars indicate it was above. Because markets tend to overprice volatility it is expected that there would be more red bars than green. If you sell SPX or SPY option premium red days tend to be successful while green days tend to get stopped out. On a 1D chart it is interesting to look at the clusters of bar colors.
Investments/swing trading strategy for different assetsStop worrying about catching the lowest price, it's almost impossible!: with this trend-following strategy and protection from bearish phases, you will know how to enter the market properly to obtain benefits in the long term.
Backtesting context: 1899-11-01 to 2023-02-16 of SPX by Tvc. Commissions: 0.05% for each entry, 0.05% for each exit. Risk per trade: 2.5% of the total account
For this strategy, 5 indicators are used:
One Ema of 200 periods
Atr Stop loss indicator from Gatherio
Squeeze momentum indicator from LazyBear
Moving average convergence/divergence or Macd
Relative strength index or Rsi
Trade conditions:
There are three type of entries, one of them depends if we want to trade against a bearish trend or not.
---If we keep Against trend option deactivated, the rules for two type of entries are:---
First type of entry:
With the next rules, we will be able to entry in a pull back situation:
Squeeze momentum is under 0 line (red)
Close is above 200 Ema and close is higher than the past close
Histogram from macd is under 0 line and is higher than the past one
Once these rules are met, we enter into a buy position. Stop loss will be determined by atr stop loss (white point) and break even(blue point) by a risk/reward ratio of 1:1.
For closing this position: Squeeze momentum crosses over 0 and, until squeeze momentum crosses under 0, we close the position. Otherwise, we would have closed the position due to break even or stop loss.
Second type of entry:
With the next rules, we will not lose a possible bullish movement:
Close is above 200 Ema
Squeeze momentum crosses under 0 line
Once these rules are met, we enter into a buy position. Stop loss will be determined by atr stop loss (white point) and break even(blue point) by a risk/reward ratio of 1:1.
Like in the past type of entry, for closing this position: Squeeze momentum crosses over 0 and, until squeeze momentum crosses under 0, we close the position. Otherwise, we would have closed the position due to break even or stop loss.
---If we keep Against trend option activated, the rules are the same as the ones above, but with one more type of entry. This is more useful in weekly timeframes, but could also be used in daily time frame:---
Third type of entry:
Close is under 200 Ema
Squeeze momentum crosses under 0 line
Once these rules are met, we enter into a buy position. Stop loss will be determined by atr stop loss (white point) and break even(blue point) by a risk/reward ratio of 1:1.
Like in the past type of entries, for closing this position: Squeeze momentum crosses over 0 and, until squeeze momentum crosses under 0, we close the position. Otherwise, we would have closed the position due to break even or stop loss.
Risk management
For calculating the amount of the position you will use just a small percent of your initial capital for the strategy and you will use the atr stop loss for this.
Example: You have 1000 usd and you just want to risk 2,5% of your account, there is a buy signal at price of 4,000 usd. The stop loss price from atr stop loss is 3,900. You calculate the distance in percent between 4,000 and 3,900. In this case, that distance would be of 2.50%. Then, you calculate your position by this way: (initial or current capital * risk per trade of your account) / (stop loss distance).
Using these values on the formula: (1000*2,5%)/(2,5%) = 1000usd. It means, you have to use 1000 usd for risking 2.5% of your account.
We will use this risk management for applying compound interest.
In settings, with position amount calculator, you can enter the amount in usd of your account and the amount in percentage for risking per trade of the account. You will see this value in green color in the upper left corner that shows the amount in usd to use for risking the specific percentage of your account.
Script functions
Inside of settings, you will find some utilities for display atr stop loss, break evens, positions, signals, indicators, etc.
You will find the settings for risk management at the end of the script if you want to change something. But rebember, do not change values from indicators, the idea is to not over optimize the strategy.
If you want to change the initial capital for backtest the strategy, go to properties, and also enter the commisions of your exchange and slippage for more realistic results.
If you activate break even using rsi, when rsi crosses under overbought zone break even will be activated. This can work in some assets.
---Important: In risk managment you can find an option called "Use leverage ?", activate this if you want to backtest using leverage, which means that in case of not having enough money for risking the % determined by you of your account using your initial capital, you will use leverage for using the enough amount for risking that % of your acount in a buy position. Otherwise, the amount will be limited by your initial/current capital---
Some things to consider
USE UNDER YOUR OWN RISK. PAST RESULTS DO NOT REPRESENT THE FUTURE.
DEPENDING OF % ACCOUNT RISK PER TRADE, YOU COULD REQUIRE LEVERAGE FOR OPEN SOME POSITIONS, SO PLEASE, BE CAREFULL AND USE CORRECTLY THE RISK MANAGEMENT
Do not forget to change commissions and other parameters related with back testing results!
Some assets and timeframes where the strategy has also worked:
BTCUSD : 4H, 1D, W
SPX (US500) : 4H, 1D, W
GOLD : 1D, W
SILVER : 1D, W
ETHUSD : 4H, 1D
DXY : 1D
AAPL : 4H, 1D, W
AMZN : 4H, 1D, W
META : 4H, 1D, W
(and others stocks)
BANKNIFTY : 4H, 1D, W
DAX : 1D, W
RUT : 1D, W
HSI : 1D, W
NI225 : 1D, W
USDCOP : 1D, W
Top 40 constituents of S&P 500 IndexDisplays real-time candles of top 40 constituents of S&P 500 Index ( TVC:SPX ) for a given time frame, side-by-side. This gives an overall idea of breadth and depth of market movements in the time-frame.
Please note that, this is not a standard chart rendered bar-wise and may take time to load as it requests multiple securities. You could modify the contents, from settings, to include stocks from your portfolio or indices of different sectors.
Vix Jump for Selling Puts or Buying CallsThis script aims to identify optimal times when to write Puts for premium, for example using the SPX Weeklies model or simply buying Calls. Not perfect but provides some additional confidence when playing Puts on SPX or the Wheel on SPY.
What it does:
We compare current VIX with a lookback VIX for X% delta. If there is a jump of say 20% over a defined period then that would indicate an opportunity to sell Puts, run a straddle or buy Calls. We use VVIX as a check to stop to many false positives ie VVIX falls of faster than VIX.
You can also use this loosely as a bottom finder.
ADD for SPX intraday (NYSE Adv-Decl) -Tom1traderThis is the NYSE Advancers - decliners which the SPX pretty much follows. You can chart it like any index (ADD -NYSE $ADV MINUS $DECL) but I find it more useful in a separate panel with colors for direction.
The level gives an idea of days move (example: plus or minus 500 is not much movement through the session) but I follow the direction as when more stocks advance (green) or decline (red) the index tends to track it pretty closely.
On SPX, SPY and correlateds - very useful for intra-day trading (Scalping or 0DTE option trades) but not for higher time frames at all. If you chart the ADD in a chart and compare 5 minute to daily you will see what I mean.
I left it at 5 minutes timeframe which displays well on any intraday chart. You can change it by changing the "5" in the security function on line 13 to what you want ("1" 1 minute, "15" 15 minutes) or change it to timeframe.period (no quotes) so that it will follow the timeframe of the current chart. I like 5 min as it displays better on higher timeframes i.e. 15 min. or hour.
A simple moving average with a length of 10 is added to help gauge momemtum.
Hope this helps with trading or scripting ideas, questions or feed back welcome. Keep Smiling.
Index / FAAMGThe FAAMG Index contemplates the grouping of the main companies in the American market, Facebook, Amazon, Apple, Microsoft and Google. Which represent approximately 20% of the S&P 500 index. This is a weighted index which considers the approximate market capitalization for each company to date.
TVC:SPX
SMU SPX Quantum QubitThis script is completely left field and is a simple version of Quantum Qubit superposition experiment Im running.
The script riot itself is not complicated because this script creates an entangled reality that work only with your power of observation. So, it is not your usual technical analysis script but a complete new idea borrowed from Quantum Physics. Not everyones cup of tea.
So you provide Qubit stock target, entangle change of the price in the past with the current price and in doing so influence the price .
Basically the universe and reality is a projection of your consciousness based on your observation. So to drop the SPX value, observe the drop in the price by participating in the shaping your desire reality. This idea is based on cutting edge physics.
Quantum physics experiment in 2015 has proved, the universe is a virtual construct, because of non-locality phenomenon that was discovered by Erwin Schrodinger that showed two particles when entangles can influence one another regardless of time and distance. The physical world need to be local to be real where as scientist has proven entanglement exist which disproves the locality view and by definition musical world
The secret source for this idea to work is the power of your observation. So you need to be observing the price change in real time, focusing on the price you want. In my case I want SPX to drop 3.9% Next Monday. So I will be observing my desire reality on Monday in real time.
As I siad, this a crazy Quantum physics idea and is not everyone's cup of tea
Another usage for this script is to track current price in parallel with previous prices such as price behaviour in a particular earning season etc
(JS)S&P 500 Volatility Oscillator For Options 2.0I am going to start taking requests to open source my indicators and they will also be updated to Version 4 of Pinescript.
I added some features to the original code such the ability to smooth the oscillator and select the look back periods for the historical volatility.
Link to original:
Original post:
"The idea for this started here: www.tradingview.com with the user @dime
This should only be used on SPX or SPY (though you could use it on other things for correlation I suppose) given that the instrument used to create this calculation is derived from the S&P 500 (thank you VIX ). There's a lot of moving parts here though, so allow me to explain...
First: The main signal is when Implied Volatility (from VIX ) drops beneath Historical Volatility - which is what you want to see so you aren't purchasing a ton of premium on long options. Green and above 0 means that IV% has dropped lower than Historical Volatility . (this signal, for example, would suggest using a Long Call or Put depending on your sentiment)
Second: The green line running underneath zero is the bottom portion of the "Average True Range" derived from the values used to create the oscillator. the closer the bottom histogram is to the green line, the more "normal" IV% is. Obviously, if this gets far away from the line then it could be setting up nicely to short options and sell the IV premium to someone else. (this signal, for example, would suggest using something like a Bull Put Spread)
Third: The red background along with the white line that drops down below zero signals when (and how far) the IV% from 3 months out (from VIX3M ) is less than the current IV%. This would signal the current environment has IV way too high, a signal to short options once again (and don't take any long option positions!).
Tried to make this simple, yet effective. If you trade options on SPX , SPY , even ES1! futures - this is a tool tailored specifically for you! As I said before, if you want you can use it for correlation on other securities. Any other ideas or suggestions surrounding this, please let me know! Enjoy!
Feb 17, 2019
Release Notes: Cosmetic update for a much cleaner look:
-Replaced the "HIGH IV" with a simlple "H"
-Now the white line is constantly showing you the relationship between VIX and VIX3M - when VIX is greater than VIX3M the background still goes red
-However, now when VIX drops below Historical Volatility, the background is bright green
-When both above are true - it's dark green
-The Average True Range on the bottom is now a series of crosses"
(JS) S&P 500 Volatility Oscillator For OptionsThe idea for this started here: www.tradingview.com with the user @dime
This should only be used on SPX or SPY (though you could use it on other things for correlation I suppose) given that the instrument used to create this calculation is derived from the S&P 500 (thank you VIX). There's a lot of moving parts here though, so allow me to explain...
First: The main signal is when Implied Volatility (from VIX) drops beneath Historical Volatility - which is what you want to see so you aren't purchasing a ton of premium on long options. Green and above 0 means that IV% has dropped lower than Historical Volatility. (this signal, for example, would suggest using a Long Call or Put depending on your sentiment)
Second: The green line running underneath zero is the bottom portion of the "Average True Range" derived from the values used to create the oscillator. the closer the bottom histogram is to the green line, the more "normal" IV% is. Obviously, if this gets far away from the line then it could be setting up nicely to short options and sell the IV premium to someone else. (this signal, for example, would suggest using something like a Bull Put Spread)
Third: The red background along with the white line that drops down below zero signals when (and how far) the IV% from 3 months out (from VIX3M) is less than the current IV%. This would signal the current environment has IV way too high, a signal to short options once again (and don't take any long option positions!).
Tried to make this simple, yet effective. If you trade options on SPX, SPY, even ES1! futures - this is a tool tailored specifically for you! As I said before, if you want you can use it for correlation on other securities. Any other ideas or suggestions surrounding this, please let me know! Enjoy!
VX Levels and Ranch Ranges with SPY/SPX price converterThis is a indicator for all Vexly subscribers to plot the following:
1. Plot SPY/SPX levels on your ES chart. Or QQQ levels on your NQ chart
2. VX levels obtained from vx_levels command. SPY on ES chart and QQQ on NQ chart
3. Ranch Range levels from the discord channel for ES and NQ chart.
You can enable/disable any of them at your discretion.
GexView📈 OVERVIEW
GexView indicator plots the Historical Gamma Exposure (GEX) profile, directly on the chart. It enables traders and analysts to observe how GEX profile evolve across multiple days/sessions.
🧲 CONCEPT
Today everybody uses Gamma Exposure. Gamma is the ROC (Rate of Change) for an option’s delta. GEX is crucial for all traders, not just intraday traders, because it helps assess market stability and potential volatility shifts driven by options positioning.
High positive GEX generally implies a mean-reverting market, where big price swings are dampened, while negative GEX signals increased volatility and potential large moves.
Understanding GEX allows traders to anticipate liquidity-driven price action, identify key support and resistance levels, and adjust strategies accordingly. In today’s market, where options flow heavily influences underlying assets, ignoring GEX can mean missing critical market dynamics that impact both short-term and long-term positions.
💡 UNIQUENESS
This indicator is a unique tool and offers a groundbreaking way to visualize market dynamics by plotting Historical Gamma Exposure (GEX), like a Volume Profile across multiple days or sessions. For the first time, traders can clearly see how GEX levels evolve over time, revealing how certain price zones gain or lose importance as market conditions change. This multi-session GEX profile allows users to identify persistent areas of dealer positioning and potential support or resistance that develop and shift over days. Unlike traditional GEX tools designed primarily for intraday use, this indicator provides valuable insight for both short-term traders and medium-term investors seeking to understand how option market flows influence price behaviour over extended periods.
⚙️ FEATURES
• Historical Gamma Exposure
The GexView indicator by default plots the last 6 days of the GEX profile, providing a framework for understanding the bigger picture.
• GEX profile
Displays the 10 largest GEX levels across all expirations (thick lines), as well as the 10 largest GEX levels for the next expiration (thin lines, 0DTE or upcoming).
• Update
Daily, after market close, based on new open interest. No more manual level imports.
Just one-click update.
• Settings
Option to plot total sum GEX for all expirations, or only net GEX for next expiration.
• Watchlist
SPX, NDX, DIA, SPY, QQQ, VIX, VXX, IBIT
(Additional tickers coming soon)
• Mapping
The indicator automatically detects and maps the underlying ticker on your chart, or lets you plot any symbol from the available watchlist.
🔍 HOW TO USE
• Identify intraday support and resistance levels shaped by option market dynamics
• Quickly spot significant GEX levels and compare how they relate to other key levels.
• Compare current vs. past GEX distributions for contextual trend analysis
• Observe structural GEX shifts that may align with volatility or mean-reversion setups
• Easily understanding if an asset trading on positive gamma (around green lines), or negative gamma (around red lines)
Examples:
1. DIA ETF
2. QQQ and VIX
📚 NOTES
• Calculation
GEX for All Expirations: This is the total sum (Call+Put) of gamma exposure of all expirations.
GEX for Nearest Expirations: This is the net sum (Call-Put) of gamma exposure of next expirations (0DTE if available).
• Trading Session - RTH & ETH
The indicator can include the extended trading hours when activated on the chart.
✅ VISUALIZATION
• Vertical implementation of gamma exposure profile.
• Thick lines represent the total gamma exposure across all expiration contracts.
• Thin lines represent the gamma exposure of next expiration only.
• All Expirations: Green colour if Calls > Puts, Red colour if Calls < Puts
• Next Expiration: Lime colour if Calls > Puts, Maroon colour if Calls < Puts
⚠️ DISCLAIMER
This indicator is provided for informational and educational purposes only.
It does not constitute financial advice or a recommendation to buy or sell any financial instrument.
Historical Gamma patterns and analytical interpretations do not guarantee future performance.
All analysis should be combined with independent research and risk management.
SPY Overlay on ES/SPXEnhanced version of @ptgambler's for drawing SPY levels over ES/SPX.
lines/labels are configurable. The levels updates only when ES/SPX price moves by two dollars. That reduces jitter, and makes the code efficient.
