OPEN-SOURCE SCRIPT
Gamma Exposure (GEX) Levels - JMerc567
Here's how to use it effectively:
Setting Up (Daily Pre-Market Routine)
Get your GEX data from one of these free/paid sources:
SpotGamma — best for SPX/SPY
Market Chameleon — free options data
SqueezeMetrics — DIX/GEX for SPY
Then open the indicator Settings and fill in:
Field What to enter
Gamma Flip Strike The price where dealers flip from positive to negative gamma
Call Gamma Wall Strike with the most call open interest / highest positive gamma
Put Gamma Wall Strike with the most put open interest / highest negative gamma
Levels L1–L8 Other high-OI strikes you want to watch
Reading the Dashboard
Regime (most important):
POSITIVE GEX (price above flip) → dealers are short gamma → they buy dips and sell rips → expect mean reversion, low volatility, price pinning near strikes
NEGATIVE GEX (price below flip) → dealers are long gamma → they buy drops and sell bounces acting as amplifiers → expect trending, higher volatility, larger moves
Environment label:
PINNING (low vol) — price tends to gravitate toward high-OI strikes, great for range strategies
TRENDING (high vol) — price can move fast and far, momentum strategies work better
Dist to Flip % — how far price is from the regime change level. Under 0.5% = watch closely.
Key Levels
Call Gamma Wall (green line) = strong resistance — dealers hedge by selling as price approaches
Put Gamma Wall (red line) = strong support — dealers hedge by buying as price drops here
GEX Flip (yellow dashed) = the most important level — crossing it signals a regime change
Alerts
Set these up via TradingView's Alert dialog (clock icon):
GEX Regime Change — flip cross, potential trend shift
Price Near Flip ±0.25% — watch for acceleration or reversal
Price Near Call/Put Wall — key S/R test incoming
High-Volume GEX Event — diamond marker on chart, potential unpin
Tips
Update levels daily pre-market — GEX resets on each expiration (especially 0DTE Fridays)
The GEX Proxy oscillator (in the dashboard) is volume-based — not real GEX, but useful as a directional bias confirmation
On opex weeks (monthly expiration), GEX effects are strongest
Setting Up (Daily Pre-Market Routine)
Get your GEX data from one of these free/paid sources:
SpotGamma — best for SPX/SPY
Market Chameleon — free options data
SqueezeMetrics — DIX/GEX for SPY
Then open the indicator Settings and fill in:
Field What to enter
Gamma Flip Strike The price where dealers flip from positive to negative gamma
Call Gamma Wall Strike with the most call open interest / highest positive gamma
Put Gamma Wall Strike with the most put open interest / highest negative gamma
Levels L1–L8 Other high-OI strikes you want to watch
Reading the Dashboard
Regime (most important):
POSITIVE GEX (price above flip) → dealers are short gamma → they buy dips and sell rips → expect mean reversion, low volatility, price pinning near strikes
NEGATIVE GEX (price below flip) → dealers are long gamma → they buy drops and sell bounces acting as amplifiers → expect trending, higher volatility, larger moves
Environment label:
PINNING (low vol) — price tends to gravitate toward high-OI strikes, great for range strategies
TRENDING (high vol) — price can move fast and far, momentum strategies work better
Dist to Flip % — how far price is from the regime change level. Under 0.5% = watch closely.
Key Levels
Call Gamma Wall (green line) = strong resistance — dealers hedge by selling as price approaches
Put Gamma Wall (red line) = strong support — dealers hedge by buying as price drops here
GEX Flip (yellow dashed) = the most important level — crossing it signals a regime change
Alerts
Set these up via TradingView's Alert dialog (clock icon):
GEX Regime Change — flip cross, potential trend shift
Price Near Flip ±0.25% — watch for acceleration or reversal
Price Near Call/Put Wall — key S/R test incoming
High-Volume GEX Event — diamond marker on chart, potential unpin
Tips
Update levels daily pre-market — GEX resets on each expiration (especially 0DTE Fridays)
The GEX Proxy oscillator (in the dashboard) is volume-based — not real GEX, but useful as a directional bias confirmation
On opex weeks (monthly expiration), GEX effects are strongest
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.