OPEN-SOURCE SCRIPT
option 3.1
Tracks 3 Call + 3 Put option strikes
Calculates their percentage change (movement strength)
Averages them to get:
Call Strength
Put Strength
Also tracks India VIX movement (volatility)
🧠 Why it’s useful:
Removes noise from single strike → gives overall option sentiment
Shows:
Calls strong → bearish pressure
Puts strong → bullish pressure
VIX tells:
VIX up → fear / big move coming
VIX down → calm / slow market
📊 What you see on chart:
Blue line → Call strength
Orange line → Put strength
Bars → VIX movement
Dashboard → live values & sync status
Calculates their percentage change (movement strength)
Averages them to get:
Call Strength
Put Strength
Also tracks India VIX movement (volatility)
🧠 Why it’s useful:
Removes noise from single strike → gives overall option sentiment
Shows:
Calls strong → bearish pressure
Puts strong → bullish pressure
VIX tells:
VIX up → fear / big move coming
VIX down → calm / slow market
📊 What you see on chart:
Blue line → Call strength
Orange line → Put strength
Bars → VIX movement
Dashboard → live values & sync status
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.