GEX and OI levels

Introduction
Harness the power of institutional options flow analysis with the GEX & OI Levels indicator – an advanced tool that brings professional-grade options analytics directly to your TradingView charts. This comprehensive indicator visualizes Gamma Exposure (GEX) and Open Interest (OI) data, revealing hidden market forces that drive price action and potential reversal points. Designed for serious traders who understand that options positioning often precedes price movement.
What Is GEX & OI Levels?
GEX & OI Levels is a sophisticated indicator that analyzes options market positioning through the lens of dealer gamma exposure and open interest concentration. By visualizing where market makers must hedge their options positions, you can identify potential support/resistance levels, price magnets, and likely volatility zones. The indicator processes strike-by-strike options data to generate actionable insights about institutional positioning and potential price behavior.
Key Features
Complete Gamma Exposure Analysis

Dynamic GEX histogram showing dealer positioning at each strike
Visual identification of positive and negative gamma zones
Smoothed total GEX calculation with customizable parameters
Zero gamma level identification - critical price points where dealer behavior changes

Critical Price Level Identification

Gamma flip points that often act as magnets for price
Gamma walls where significant hedging activity may create support/resistance
Golden strike detection where both call and put OI show unusual concentration
Max pain calculation showing the price point where options expiration causes maximum loss

Dealer Positioning Intelligence

Analysis of dealer hedging requirements for price movements
Calculation of expected dealer behavior during rallies and dips
Signal strength indicators showing potential hedging impact
Delta-adjusted GEX for more accurate near-expiration analysis

Comprehensive Data Visualization

Highly configurable visualization of GEX histogram with logarithmic scaling
Strike-by-strike data table with color-coded gamma values
Top OI levels for both calls and puts with customizable highlighting
Detailed metrics panel showing all key GEX and options analytics

Use Cases
1. Identifying Potential Price Magnets

Gamma flip points often act as magnets for price, especially near expiration
Zero gamma levels show where dealer hedging pressure changes direction
Golden strikes reveal where both call and put sellers have significant exposure

2. Discovering Support & Resistance Zones

Gamma walls indicate where dealer hedging may create price barriers
Top OI levels often become psychological support/resistance points
Max pain level shows where options writers have incentive to push price

3. Predicting Market Volatility

Low GEX environments signal potential for increased volatility
High GEX environments typically lead to price compression and reduced volatility
Dealer positioning metrics indicate whether market makers are dampening or amplifying moves

4. Timing Market Reversals

Extreme dealer positioning often precedes market reversals
Proximity to flip points provides timing signals for potential turns
Signal strength measurement helps quantify the potential impact

5. Enhancing Trading Strategy

Align your trades with or against dealer hedging flows
Use dealer positioning analysis to set more precise stop losses and targets
Combine with technical analysis for high-probability trading setups

Customization Options
The indicator offers extensive customization capabilities:
Data Input & Configuration

CSV data input for option chain information
Adjustable DTE (Days To Expiration) settings
Risk-free rate and implied volatility parameters
Custom symbol formatting for different data providers

Calculation Settings

Gamma weight multiplier for sensitivity adjustment
Strike range limitations to focus on relevant price zones
Gamma scaling options based on strike distance
Static IV mode for environments without option price data

Visualization Options

Customizable histogram appearance including scale and transparency
Color settings for positive/negative GEX, flip points, and gamma walls
OI level display with configurable number of levels
Strike data table with adjustable strike count

Analytics Settings

Delta-adjusted GEX for improved accuracy
Dealer positioning analytics with hedge efficiency parameters
Alerting capabilities for price approaching key levels
Golden strike highlighting for significant option activity zones

How to Use

Apply the indicator to your chart
Input your options data in CSV format using the required structure
Configure the expiration date to match your analysis timeframe
Adjust gamma calculation parameters based on your instrument
Use the GEX histogram and key levels to identify potential price targets
Monitor dealer positioning metrics to anticipate market behavior
Trade with confidence knowing where institutional hedging activity is concentrated

Perfect for options traders, futures traders, swing traders, and anyone who wants to incorporate institutional-level options analysis into their technical trading strategy.
Elevate your trading with GEX & OI Levels - where options positioning reveals future price action.