GEX Levels Dashboard - ES/SPX/SPY Gamma Exposure

The GEX Levels Dashboard - ES/SPX/SPY Gamma Exposure indicator provides a professional framework for analyzing dealer hedging flows across major S&P 500 instruments. By visualizing key strategic levels such as Call Walls, Put Walls, and Zero Gamma, the tool identifies high-probability zones where market liquidity and dealer positioning are likely to create measurable support or resistance.

Usage

The Usage section highlights how to interpret GEX-derived levels for intraday and swing trading. Users can select between ES, SPX, or SPY, and the script will automatically adjust the data levels.

• Call Walls (Pink/Red): Represent significant resistance zones where dealers hedge against upside movement.
• Put Walls (Cyan/Teal): Represent significant support zones where dealers hedge against downside movement.
• Zero Gamma (Gray): Acts as a structural pivot; price action above typically favors trending behavior, while price below often leads to mean-reversion.
• Flip Detection: The indicator identifies when a level has been breached. Thick solid lines represent uncrossed levels, while dashed lines indicate a level has been "flipped" by price action.
• Confluence: The tool is best used by identifying clusters where GEX levels align with other technical structures like Volume Profile (VWAP/HVN) or Order Blocks.

Details

The script utilizes Gamma Exposure (GEX) analysis to determine where market makers are most active. Unlike standard price-action indicators, GEX levels are derived from options market positioning.

• GEX Profile Histogram: Displays the distribution of gamma across different strikes directly on the Y-axis.
• Expected Move Bands: Visualizes statistical 1-sigma range boundaries to define expected volatility.
• Dynamic Updating: Users can manually override the built-in static data by pasting live GEX strings into the settings for real-time accuracy.

Settings

Ticker & Data

• Display Ticker: Choose between ES, SPX, or SPY for automatic data conversion.
• Live GEX Override: A text area to paste updated GEX data strings to refresh levels.

Visibility & Filtering

• Level Toggles: Independent switches for Call/Put Walls, System Levels (ZG, Max Pain, EM), and Structure Levels (PDH/PDL).
• GEX Threshold Filter: Hides levels with a magnitude lower than the user-defined value to reduce chart noise.
• Max GEX Levels: Limits the number of visible levels (options: 5, 10, 15, 20, 25, 30, or All).

Visuals

• Color Theme: Select from "Wall Street Classic", "Boreal", or "Lady Trader" palettes.
• GEX Profile Style: Adjust bar width, height, and offset for the horizontal gamma histogram.
• Session Boxes & AVWAP: Options to display session-specific ranges (Asia, EU, Pre-Mkt, US) and their respective Anchored VWAPs.

FAQ

How do I update the GEX data for today? You can update the levels by obtaining the latest GEX string and pasting it into the "Live GEX Override" field in the script settings.

What is the difference between solid and dashed lines? Solid lines represent levels that haven't been tested yet. Once price crosses a level, the script updates it to a dashed style to signify a role flip.

How can I access the GEX Levels Dashboard? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.