GEX: Trade With Insight!

I am thrilled to announce the launch of my groundbreaking GEX Indicator for Thinkorswim, a tool many believed impossible to create on this platform. I’ve turned the impossible into reality, and it’s exclusively available from RP Indicators.

Why The GEX Indicator is a Must-Have for Every Trader:

Gamma Exposure (GEX) is the trader’s secret weapon, revealing how Market Makers balance stock positions. Positive GEX? Expect stable prices and smooth sailing. Negative GEX? Brace for volatility and opportunity. Our Thinkorswim indicator demystifies GEX, giving you the edge to anticipate market moves. It’s not just about bullish or bearish trends; it’s about understanding the market’s heartbeat. Unleash the power of informed trading.

Some Benefits of Using the Thinkorswim GEX Indicator:

  1. Enhanced Market Insight: Gain a deeper understanding of market dynamics through GEX analysis.
  2. Anticipate Price Movements: Predict potential price stability or volatility, crucial for strategic decision-making.
  3. Improved Positioning: Adjust your trading strategies according to positive or negative GEX indicators.
  4. Risk Management: Better manage risks by understanding how Market Makers might influence stock prices.
  5. Optimized Trading Strategies: Tailor your trading approaches in options markets for higher efficiency and potential profitability.
  6. Stay Ahead of Trends: Use GEX data to identify potential market trends before they become apparent to the broader market.

It is important to note that this indicator cannot be used for the SPX on the Thinkorswim platform because thinkScript lacks access to the SPX’s open interest data.

2024 Jan 14: Updated to Version 2

New features include:
1. Net GEX
2. Split GEX
3. Vanna Exposure
4. Speed Exposure

Screenshot of gamma exposure (GEX) indicator for Thinkorswim

2024 Feb 05: Updated to Version 4

I am pleased to announce that the GEX indicator has been upgraded to version 4, marking a significant enhancement in its functionality.

Key Features of Version 4:

  1. Automated Configuration: The indicator now automatically configures the option symbol, expiration date, and strike interval for the option chain, eliminating the need for manual adjustments when changing symbols.
  2. Important Guidance for SPX Data: To access GEX data for SPX, please use the /ES chart instead of the SPX chart. Due to compatibility issues with thinkorswim, SPX data is not retrievable directly from the SPX chart; however, the /ES chart will ensure accurate data retrieval.
  3. Set the expiration type from within the settings panel (0DTE, Weekly, OPEX, or custom date).
  4. Futures are not supported.

Learn More About Gamma Exposure

  1. Start with this video for a simple, direct explanation of how to use GEX.
  2. How Gamma Exposure Works: Unraveling the dynamics of risk hedging.
  3. Introduction to Gamma Exposure (GEX)
  4. VIDEO: Gamma Exposure Basics

Indicator Setup

The GEX study can be used as a lower study under the charts, but I would recommend having it in its own window so that the scaling level can be adjusted separately from the charts. If you choose to put it in its own window, I recommend using a 1 day, 10 minute chart with extended session disabled and the price graph hidden.