OPEN-SOURCE SCRIPT
Aggiornato Avg Weekly Move + Implied
Projects the expected weekly range and the key levels that drive it, anchored to the current week and readable on any timeframe; no repaint.
What it plots
- Average weekly move band — the mean weekly move over a configurable lookback, drawn as upper/lower lines around an anchor (this week's open or prior week's close). Choose Close-to-Close or High-Low Range, and Percent basis (scales to current price) or raw Points.
- Implied move overlay (manual) — enter the expected move from your broker's option chain for the weekly expiry; plots a dashed band and shows the implied-vs-realized ratio so you can see if options are pricing more or less than history.
- Prior-week high / low — the prior week's range edges, the levels price most often reaches for.
- OpEx markers — faded shading on monthly 3rd-Friday expirations, with quad-witching (Mar/Jun/Sep/Dec) in its own color and an optional charm run-in shade.
- Dashboard (bottom-right) — avg move, implied (+ ratio), band "held %" reliability, prior-week levels, next OpEx. date/type/phase, and a per-symbol PWH-reliability flag.
How to read it
- "Held %" tells you how often the band actually contained the week — high = trustworthy, low = the symbol's vol outruns its average (treat the band loosely).
- The PWH flag reads "Reliable here" on broad-index symbols and "Weak" on range-bound names...the prior-high draw is strongest on indices; back-tested this over 3 years.
Notes
- Non-repainting: all weekly values come from completed weeks via higher-timeframe data, so they stay fixed intra-week and read identically on 15m, 1H, or daily.
- The Implied Move is a manual input (Pine can't access options data) — refresh it each week per symbol. I use ThinkOrSwim for finding the Implied Move.
- Works on any symbol; OpEx dates are universal, but the OpEx behavioral context was studied on index products. I imagine, a date or two could be off, but you can save and adjust the code as you see fit.
What it plots
- Average weekly move band — the mean weekly move over a configurable lookback, drawn as upper/lower lines around an anchor (this week's open or prior week's close). Choose Close-to-Close or High-Low Range, and Percent basis (scales to current price) or raw Points.
- Implied move overlay (manual) — enter the expected move from your broker's option chain for the weekly expiry; plots a dashed band and shows the implied-vs-realized ratio so you can see if options are pricing more or less than history.
- Prior-week high / low — the prior week's range edges, the levels price most often reaches for.
- OpEx markers — faded shading on monthly 3rd-Friday expirations, with quad-witching (Mar/Jun/Sep/Dec) in its own color and an optional charm run-in shade.
- Dashboard (bottom-right) — avg move, implied (+ ratio), band "held %" reliability, prior-week levels, next OpEx. date/type/phase, and a per-symbol PWH-reliability flag.
How to read it
- "Held %" tells you how often the band actually contained the week — high = trustworthy, low = the symbol's vol outruns its average (treat the band loosely).
- The PWH flag reads "Reliable here" on broad-index symbols and "Weak" on range-bound names...the prior-high draw is strongest on indices; back-tested this over 3 years.
Notes
- Non-repainting: all weekly values come from completed weeks via higher-timeframe data, so they stay fixed intra-week and read identically on 15m, 1H, or daily.
- The Implied Move is a manual input (Pine can't access options data) — refresh it each week per symbol. I use ThinkOrSwim for finding the Implied Move.
- Works on any symbol; OpEx dates are universal, but the OpEx behavioral context was studied on index products. I imagine, a date or two could be off, but you can save and adjust the code as you see fit.
Note di rilascio
Updated....Implied move
- VIX-auto option — auto-fills the band from VIX9D (default, correct weekly tenor) or VIX, symbol-aware (VIX→SPX/SPY, VXN→QQQ, RVX→IWM), toggle to revert to manual, gated on non-index symbols.
Prior-week levels
- Self-aware PWH reliability flag — "Reliable here" (SPX/SPY/QQQ) vs "Weak" elsewhere.
OpEx calendar (all auto-computed, zero-repaint)
- Faded OpEx shading — monthly grey, quad-witching orange.
- Charm run-in shade (~T-5→T0) + 14-day max-pain watch shade.
- Dashboard Phase (Charm/Quad run-in / Post-OpEx / Neutral) + Next-OpEx date/type.
Manual GEX levels (key from Periscope; 0 = hidden)
- Max Pain + GEX Flip — glowing lines (halo + core), color pickers, glow toggle.
- Independent label offsets for each (to stagger when close).
- 3 positive + 3 negative gamma zones — top/bottom shaded bands, color pickers.
Dashboard (bottom-right) — Avg move, Implied (+ratio), Held %, PW High/Low, Next OpEx, Type, Phase, PWH flag, VIX level + regime (calm/normal/elevated/stress). Text-size option.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.