OPEN-SOURCE SCRIPT
Option Premium Chart - Key Levels
This indicator is made to draw lines on an options contract's premium chart to show key levels the premium may support or resist at. Similar to a normal stock chart, use these levels to analyze at what price to enter, what price to set a stop loss, and what price to target.
The settings have been optimized to detect areas that candle bodies and stems touch multiple times and on a chart with minimal bar history. Typical stocks may have more candle history, but an option contract's chart has less bars and needs to be adjusted to read it differently.
The settings have been optimized to detect areas that candle bodies and stems touch multiple times and on a chart with minimal bar history. Typical stocks may have more candle history, but an option contract's chart has less bars and needs to be adjusted to read it differently.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.