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)
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
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