GEX Levels for NQ/NDX/QQQ Gamma Exposure

The GEX Levels for NQ/NDX/QQQ Gamma Exposure indicator visualizes key strategic levels derived from Gamma Exposure (GEX) analysis to identify zones where dealer hedging flows create potential support and resistance. This framework provides institutional-grade insights into NASDAQ-100 instruments by mapping dealer positioning directly onto the chart.

Usage

The indicator provides several layers of market structure based on options data:

• Call Walls: Identified as resistance zones where dealers hedge against upside price movement.
• Put Walls: Identified as support zones where dealers hedge against downside price movement.
• Zero Gamma: Acts as a structural pivot point; price behavior often shifts between mean-reversion and trending characteristics at this level.
• Expected Move Bands: Visualizes statistical range boundaries based on implied volatility.

The tool includes a Ticker Switcher allowing users to toggle between NQ, NDX, and QQQ. It automatically handles the price conversion (e.g., QQQ is approximately NDX/40). Users can also utilize the GEX Profile Histogram to see the total gamma distribution as horizontal bars, highlighting clusters of market positioning.

Details

The indicator functions using a professional framework for GEX analysis. It tracks "Flipped" levels—when price crosses a specific level, its role and style automatically update (e.g., from a solid line to a dashed line) to reflect the change in market state.

The indicator comes pre-loaded with 5DTE weekly GEX data that is refreshed regularly. For advanced users, a "Live GEX Override" field is available in the settings to input custom intraday or 0DTE data. The logic uses a ranking system to prioritize levels by magnitude while allowing for a threshold filter to remove "noise" from insignificant gamma levels.

Settings

Ticker Settings

• Display Ticker: Select between NQ, NDX, or QQQ for automatic price adjustment.

GEX Data

• Live GEX Override: A text area to input custom formatted data strings for real-time updates.

GEX Visibility

• Level Toggles: Independent switches for Call/Put Walls, System Levels (ZG, Max Pain), and Structure Levels (PDH/PDL).
• Max GEX Levels: Limits the number of levels displayed on the chart to maintain clarity.
• Min GEX Threshold: A filter to hide levels with a magnitude below a specified millions (M) value.

GEX Profile Style

• Bar Width/Height/Offset: Adjust the visual appearance of the horizontal gamma distribution histogram.

Breakout Structure (BOS)

• Timeframe Toggles: Enable or disable BOS detection for Monthly, Weekly, Daily, 4H, and 1H timeframes.

Session Settings

• Session Boxes: Display shaded areas for Asia, Europe, Pre-Market, and US RTH sessions.
• Session AVWAP: Toggle Anchored VWAPs for specific trading sessions.

FAQ

How do I interpret the different line styles? Thick solid lines represent levels that have not yet been tested or crossed. Dashed lines indicate "flipped" levels where price has already transited through the zone.

What do the colors represent? Cyan/Teal or Green typically represent potential support (Put Walls), Pink/Red represent potential resistance (Call Walls), and Gray lines represent structural or statistical levels like Zero Gamma and Volatility Bands.

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