Option Chain-Based Call & Put Momentum Visualizer

11月3日

Option Chain-Based Call & Put Momentum Visualizer
invite-only by JjpTradingAcademy

Overview

The Option Chain-Based CE/PE Momentum Visualizer is a powerful analytical tool designed to track real-time momentum and sentiment shifts between Call (CE) and Put (PE) options directly on the chart. It offers deep insight into option buyers’ and sellers’ behavior by analyzing multiple strikes, dynamically calculating cumulative CE/PE strength, and correlating it with underlying index price movements.

How to Use

The bottom pane of the indicator displays the decay data for both Call and Put options at every candle, green shows positive, red shows negative, and orange shows neutral. At the centre, it shows difference between Call and Put decay data, if the difference is less than 35 then it indicates with lime color otherwise it appears with purple color, When the trend changes between from lime and purple, the indicator plots a purple bar representing strong candles that often precede high momentum moves.
High/Low ranges are automatically plotted once the middle value drops below 10.
A breakout/breakdown of purple candle at the range indicates a strong directional movement on either side.

Reference images for visual guidance:



Inputs

To ensure proper functionality, fill in all fields correctly - Index/Stock Symbol Name, Pre-Market 's ATM Level, Options Type (OTM, ITM, OTM+ITM), Options Expiry Date, Options Symbol Prefix, Strike Interval If these are not set correctly, runtime errors may occur.
CE/PE Candle Strength – Displays CE/PE strength % for each candle
Highlight Prior Range – Marks previous High/Low zones for visual confirmation
Show Historical Entry Zone – Displays earlier High/Low ranges with color fills to highlight zone strength

Alerts

Purple Bar Signal
(Setup: Add Alert → Condition: "Option Chain-Based Call & Put Momentum Visualizer" → "Purple Bar Signal")

Security Call

All signals are calculated on bar close.
The script uses security () calls to fetch individual option OHLC data for accurate CE/PE momentum analysis.

Access

Invite-Only.
Request access via TradingView PM to JjpTradingAcademy
Redistribution, reselling, or code extraction is strictly prohibited.

Disclaimer

This indicator is for educational purposes only.
It does not constitute financial advice or a guaranteed system of profitability.
Trading options involves significant risk - always conduct your own research and apply sound risk management.

一昨日

リリースノート

Expiry input bug fixed.