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Dealer Control Index (DCI) Oscillator Breakouts
Overview
The Dealer Control Index (DCI) is a structural oscillator designed to measure market stability based on the relationship between price and key institutional "hedging levels" (Gamma Flip). Unlike momentum-based oscillators like RSI, the DCI focuses on Dealer Gamma Exposure—the point where market makers shift from supporting price (Long Gamma) to accelerating moves (Short Gamma).
How to Use
This indicator requires a Manual Anchor (Flip Level) to function with high precision. Users should identify the current institutional Gamma Flip level for their specific ticker and input it into the script settings.
Positive Score (+25 to +100): Price is above the Flip Level. Dealers are in a "Long Gamma" position, typically resulting in lower volatility and "dip-buying" behavior.
Neutral Zone (-75 to +25): The "Transition Zone." Price is fluctuating near the hedge-rebalancing point. Expect "choppy" price action.
The Gamma Trap (-75 to -100): Price has snapped significantly below the Flip Level. Dealers are now "Short Gamma" and may be forced to sell into further price drops to hedge their books, potentially creating a "Waterfall" effect.
Key Features
Volatility Normalized: Uses ATR-based normalization to ensure the -100 to +100 scale is consistent across different asset classes (e.g., comparing SPY to NVDA).
Sigmoid Smoothing: Employs a sigmoid curve to filter out "market noise" and provide a clear visual of when the regime shift is actually occurring.
Visual Regimes: Color-coded zones (Green/Red) provide instant feedback on the current dealer hedging bias.
The Dealer Control Index (DCI) is a structural oscillator designed to measure market stability based on the relationship between price and key institutional "hedging levels" (Gamma Flip). Unlike momentum-based oscillators like RSI, the DCI focuses on Dealer Gamma Exposure—the point where market makers shift from supporting price (Long Gamma) to accelerating moves (Short Gamma).
How to Use
This indicator requires a Manual Anchor (Flip Level) to function with high precision. Users should identify the current institutional Gamma Flip level for their specific ticker and input it into the script settings.
Positive Score (+25 to +100): Price is above the Flip Level. Dealers are in a "Long Gamma" position, typically resulting in lower volatility and "dip-buying" behavior.
Neutral Zone (-75 to +25): The "Transition Zone." Price is fluctuating near the hedge-rebalancing point. Expect "choppy" price action.
The Gamma Trap (-75 to -100): Price has snapped significantly below the Flip Level. Dealers are now "Short Gamma" and may be forced to sell into further price drops to hedge their books, potentially creating a "Waterfall" effect.
Key Features
Volatility Normalized: Uses ATR-based normalization to ensure the -100 to +100 scale is consistent across different asset classes (e.g., comparing SPY to NVDA).
Sigmoid Smoothing: Employs a sigmoid curve to filter out "market noise" and provide a clear visual of when the regime shift is actually occurring.
Visual Regimes: Color-coded zones (Green/Red) provide instant feedback on the current dealer hedging bias.
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