Equities Option Volume (Bullish and Bearish)
This package includes a custom ThinkOrSwim study for Equities Option Volume. This indicator plots the bullish (calls bought and puts sold) and bearish (puts bought and calls sold) option volume for up to 7 option contracts per bar. The volumes plotted are for the current ITM contract for each option as well as the surrounding user chosen number of contracts up and down. Volumes above a user chosen amount are highlighted in bright green (bullish) or bright red (bearish).
- This indicator works solely for equities.
- This indicator is complex and its loading time is dependent on your computer and the options selected.
- Customizations include
- Up to 7 different option contracts of underlying equity
- Increment between option contracts strikes
- Number of strikes in either direction
- Plot bullish volume only, bearish volume only or both
- Tolerance level is to distinguish elevated volume
- Alerts are included!
- Instructions will be provided.