Options Levels Support and Resistance

13 jam yang lalu

Are you sometimes clueless of where you are going to find support or resistance for the stock price? Nothing can be more powerful than market positioning via options levels.

This indicator visualizes key institutional options levels including short-term and longer-term Put/Call Walls, and projected implied move ranges.

Key Features:

• Displays major support/resistance levels derived from options data
  
• Shows institutional Put Walls (PW) and Call Walls (CW) - areas of significant options activity
  
• Identifies short-term and longer-term gamma levels for more precise trading
  
• Includes an option statistics (IV, Put/Call ratio, trend) in a clean dashboard
  
• Automatically(*) updates throughout the trading day to reflect current market positioning
  
• Currently supporting 440 of the most popular tickers.
  
• Presents gamma flip levels for indexes SPX, RUT, NDX and VIX
  

Trading Applications:

• Identify key price levels where institutional options activity may influence price movement
  
• Gauge market sentiment through IV levels, Put/Call ratios, and options positioning
  
• Plan entries/exits around major Put/Call walls where price reversals are more likely
  
• Monitor changes in institutional positioning through level trends
  

Levels are calculated externally using comprehensive options data and updated into the indicator multiple times per day. Note that I can't guarantee it will be timely updated since TradingView offers no access to external data nor a way to programmatically update the script.

This code simply renders the levels I calculate using external software. I had to make the code as short as possible to accommodate more tickers, reason why there is no commenting.

The last update time (New York/EST) is shown in the dashboard.