OPEN-SOURCE SCRIPT
Updated Option Volume Wave Flow
Option Wave graph. Takes into consideration call/put volume to identify the wave of where money is moving to. Goal is to identify fake outs
Release Notes
This script allows you to see the volume build for 3 calls and puts of your desired strike price. Ideally, one strike for call & put is ATM, one for OTM and one for ITM. This will give you a holistic view of what big money is doing with their positions, allowing you to be on the right side of it.Your “knobs” for directional accuracy
Strike selection (call1, put1, call2, put2, …)
– ATM vs OTM strikes changes sensitivity vs breadth.
Timeframe.period in request.security
– Lower = real-time pulse; higher = smoother trend.
Number of strikes
– More strikes = fuller aggregate, but watch Pine limits.
Smoothing on your net‐flow line
– EMA or SMA can clarify the buildup direction.
By moving your inputs between near-money and farther-OTM strikes, and by adding a simple EMA on the net‐flow, you’ll get a crystal-clear sense of which way the option flow is really building.
Release Notes
Made the Call Bar graph above zero, and put graph below zero. Will be creating one soon that mimics Flowtopia Wave indicator line graph. stay tooned.Release Notes
Updated for 7/16/25Release Notes
another pricing update, ttyl!Release Notes
Alright, I have made a few changes. If you click on the gear icon once the indicator in on your chart, you can change the # of strikes around open, set your lowest and highest strike, and max strike per each side. Strike step allows you to determine how far apart each contract is. Change the expiry to your desired contract date (working on integrating larger sets of dates). We are working around the technical limitation of Trading View's limit of only 40 function calls and this limits the total number of specific contracts that can be used in this. Thank you for your support and comment below any changes you think would help make more accurate directional trades
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.