Options Flow Intraday Sentiment

Script useful for Intraday Trading - which based on Options data loaded in background - is showing sentiment of Investors. Very often Options are forecasting and precedes moves that will happen later on derivatives like Futures Contracts. Due to its' nature, data is useful during Regular Trading Hours sessions ( RTH ).

We take into account Options Volume flow & Put/Call Ratio from Options. Data is based from dataset on Quandl and loaded to TradingView. Therefore data is normalized as per different factors we have different scale of received data. Then I apply calculations comparing PUT and CALL Volume , giving the biggest weight ratio to those Options which have nearest Expiration Date. Another condition taken into account is Type of Option: either In the Money, Out of Money or At the money. Last but not least for Options there is calculated risk, where those orderflow entries with lowest risk are having the biggest weight in calculation while those with highest risk - are having lower ratio. Risk is calculated based on delta factor (coming out of Options standard definitions).

Background of indicator is coloured in direction of sentiment when we have alignment of sentiment factors calculated in background in one direction. Script is displaying additionally PUT Volume , CALL Volume from Options and PUT/CALL Ratio . Those are only additional information that can be useful for traders, but the whole logic is hidden under the hood (as described earlier) and is showing coloured background when sentiment is aligned. Therefore be prepared to take potentially a trade in direction of the background - but not blindly

Currently it's supporting SPX ( S&P500 ) and support for more instruments will come with next updates.

Market mechanics and more about software, you can find on: https://yorgwarez.com

Telegram group with interesting facts & trading results: https://t.me/joinchat/V26NJPVL9aWZ_5_w
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Instrukcje autora

DM me in case of questions. Script available for Subscribers - you can purchase it via patreon.com/yorgwarez

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