OPEN-SOURCE SCRIPT
Put-Call Bias Indicator
The Put-Call Bias Indicator provides a visual representation of the relative bias towards put options using CBOE data. This script calculates the Put/All ratio, displaying the difference as compared to an even 50% ratio as columns on the chart. A positive value indicates a higher proportion of puts being bought compared to the total number of options contracts.
The indicator uses weekly CBOE data to determine the Put/Call ratio, making it suitable for analyzing longer-term trends in options trading sentiment. The gray columns represent the bias towards puts, with the green horizontal line at 0 acting as a reference point to quickly identify the prevailing bias.
In addition to providing an overview of market sentiment, this indicator can also be used as a contrarian indicator. A high Put/All ratio may suggest that the market is overly bearish, potentially signaling a bullish reversal, while a low ratio may indicate an overly bullish market, potentially pointing to a bearish reversal. Please note that this indicator should be used in conjunction with other technical analysis tools and indicators for a comprehensive understanding of the market.
(This is a new version of an old script bc previous version was deleted by TradingView; republishing with a more verbose description)
The indicator uses weekly CBOE data to determine the Put/Call ratio, making it suitable for analyzing longer-term trends in options trading sentiment. The gray columns represent the bias towards puts, with the green horizontal line at 0 acting as a reference point to quickly identify the prevailing bias.
In addition to providing an overview of market sentiment, this indicator can also be used as a contrarian indicator. A high Put/All ratio may suggest that the market is overly bearish, potentially signaling a bullish reversal, while a low ratio may indicate an overly bullish market, potentially pointing to a bearish reversal. Please note that this indicator should be used in conjunction with other technical analysis tools and indicators for a comprehensive understanding of the market.
(This is a new version of an old script bc previous version was deleted by TradingView; republishing with a more verbose description)
Скрипт с открытым кодом
В истинном духе TradingView автор этого скрипта опубликовал его с открытым исходным кодом, чтобы трейдеры могли понять, как он работает, и проверить на практике. Вы можете воспользоваться им бесплатно, но повторное использование этого кода в публикации регулируется Правилами поведения. Вы можете добавить этот скрипт в избранное и использовать его на графике.
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