GexVision.
Real dealer gamma exposure, computed from the full options chain, drawn as tradable levels on your chart.
IntroductionWhat this tool is for
GexVision reads the full options chain of a symbol —every strike, every expiration, with its open interest, its implied volatility and its greeks— and computes where dealer gamma exposure is concentrated. Those prices are what you see drawn on your chart.
They are not technical-analysis lines or moving averages. They are prices where an enormous amount of capital is forced by its own hedge to buy or to sell. That is why price reacts there so often: it is not magic, it is hedging mechanics.
This page covers three things, in order: (1) what dealer gamma exposure is and why it moves price, (2) what exactly each level of the indicator means and how it is traded, and (3) how to install it and keep it updated on TradingView and Bookmap. If you have never used options data, read it in order. If you already know GEX, skip straight to the levels.
GexVision does not predict direction. It describes how price tends to behave around certain levels: whether it tends to reverse or to accelerate, whether the day tends to be range-bound or trending, and where a move is more likely to stall. Direction and entry are yours, from your own process.
01 · FundamentalsWhat GEX is and why it moves price
When you buy an option, somebody has to sell it to you. That somebody is almost always a market maker —a dealer—. The dealer does not want to bet on market direction: it wants to earn the spread and stay neutral. To stay neutral it has to hedge by buying or selling the underlying. That hedge is the flow that moves price.
Delta: how much underlying the dealer needs
An option's delta tells you how much the option moves for every dollar the underlying moves. If a dealer sells you a call with 0.40 delta, it is short 40 deltas and buys the equivalent of 40 shares (or the matching futures exposure) to flatten out.
Gamma: how much it has to RE-hedge when price moves
The problem is that delta is not fixed. Gamma measures how much delta changes when price moves. It is the speed of the hedge. If gamma is high, a small move in the underlying forces the dealer to buy or sell much more to stay neutral. If gamma is low, it barely has to do anything.
Dealer gamma exposure (GEX) aggregates all of that gamma in dollars, strike by strike, across the entire options market of that symbol:
GEX per strike = Gamma x Open Interest x 100 x Price² x 0.01The result reads as dollars of underlying that dealers have to trade for every 1 % move in that symbol. Under the standard market assumption —dealers long calls and short puts— calls add positive gamma and puts subtract negative gamma. Summing every strike gives you Net GEX, and the strike-by-strike profile is what produces every level you will see on the chart.
A GEX level matters because at that price there is a lot of money whose behavior is predetermined by hedging, not by an opinion. The more gamma there is at a strike, the stronger that mechanic.
02 · FundamentalsThe two gamma regimes
Everything you read in GexVision comes down to knowing which of these two worlds you are in. It is the difference between a day where you fade the extremes and a day where fading the extremes runs you over.
Positive gamma — dealers dampen the move
Dealers are long gamma. When price rises, their delta grows and they have to sell underlying to get back to neutral. When price falls, they have to buy. In other words: they buy the dips and sell the rips. Their hedge always runs against the move.
Result: price gets anchored. Tight range, mean reversion, compressed volatility, small candles, extremes that get rejected, breakouts that fail. Moves exhaust themselves because there is a mechanical seller above and a mechanical buyer below.
Negative gamma — dealers accelerate the move
Dealers are short gamma. Now the opposite happens: when price rises they have to buy more, and when it falls they have to sell more. Their hedge runs with the move and amplifies it.
Result: price accelerates. Trend, momentum, ranges that widen, selloffs that extend further than seems reasonable, moves that do not pull back. This is where volatility-expansion days are born.
The same approach that works in positive gamma breaks down in negative gamma, and the other way around. Before looking for an entry, always check where price sits relative to Zero Gamma and what sign Net GEX has. That is the first filter of the day.
03 · The levelsWhat each line on the chart is
Level by level from here on: what it is, what it means when price approaches it, and how it is used. The indicator colors are consistent across the whole product: blue for calls and positive gamma, red for puts and negative gamma, amber for Zero Gamma and violet for Max Gamma.
Zero Gamma · HVL · gamma flip
The price at which net dealer gamma crosses zero. Above that line, dealers as a whole are long gamma; below it, short. GexVision finds it by recomputing the full gamma profile over a grid of prices, not by interpolating between two strikes, so it moves whenever implied volatility or time to expiration changes.
It is a regime switch, not a support level. With price above it: mean reversion, extremes that fade, tight ranges. With price below it: trend, momentum, wide ranges and moves that extend. Crosses often coincide with a visible change in candle size.
It is the first line to look at each day, before any other. It frames what kind of day you are trading and therefore which approach makes sense: fade above, momentum below.
A cross with acceptance —not just a wick— is your cue to switch modes. If you were fading the extremes and price loses Zero Gamma, stop doing it.
The indicator can also show Zero Gamma 0DTE (computed only from today's expirations, more relevant intraday) and Zero Gamma ex-0DTE (excluding them, more structural). Both are toggles in the settings.
If you could keep only one level on the chart, keep this one. Everything else is read in terms of which side of Zero Gamma price is on.
Call Wall
The strike with the largest call gamma above the current price. It is where the biggest block of call positioning that dealers have to hedge is concentrated.
It acts as a ceiling and a magnet at the same time. As price approaches, dealer hedging forces them to sell more underlying, and rallies run out of fuel. Historically, many sessions close just below this level without ever clearing it.
As a natural profit-taking target for long positions: it is where the move tends to run out of steam.
As a poor area to chase longs into: buying just below the Call Wall means buying exactly where a mechanical seller sits.
If it breaks on volume and price accepts above it (not a wick, but bars that hold), the sign of the hedge flips and it can trigger a squeeze: dealers go from selling to buying, and price often accelerates toward the next level above.
Put Wall
The strike with the largest put gamma below the current price. It is where the largest amount of protection bought by the market piles up.
It acts as a floor. When the market falls toward that price in a positive gamma regime, dealer hedging has them buying underlying, and the selling slows down. It is the level where selloffs stall most often.
As a target for short positions, and as an area to look for an upside reversion if the rest of the context supports it.
As a risk reference: while price stays above it, the structure is still supported.
Watch for the opposite: if price loses the Put Wall while already in negative gamma, the effect inverts and the move often accelerates, because that protection translates into futures selling. That is one of the most common fast-selloff scenarios.
Max Gamma
The strike with the largest net gamma in absolute value, whether it comes from calls or from puts. It is the point of maximum hedging concentration in the entire profile.
It is the strongest magnet on the chart: the pin. Price tends to be drawn toward it and to orbit it. The effect grows as expiration approaches, because gamma concentrates: it shows up far more on a Friday afternoon, or in the last hour of a session with 0DTE, than on a Monday morning.
If price is above Zero Gamma and close to Max Gamma, expect compression: a tight range around that strike, small targets and little follow-through on breakouts.
It is the natural destination shown by the Directional bias row when the regime is positive gamma (pull to).
If price is far from Max Gamma and in positive gamma, that strike is a reasonable target for the session.
GEX 1 to GEX 10 · the gamma ladder
The ranking of the strikes with the most gamma in dollars, sorted from largest to smallest. GEX 1 is the strongest, GEX 2 the next one, and so on down to GEX 10. In the settings you can choose how many to draw (from 1 to 10); by default the first 5 are shown. The top three are drawn with a thicker line.
Blue = positive gamma at that strike. Dealers absorb: they buy below and sell above. The level tends to HOLD.
Red = negative gamma at that strike. Dealers push in the direction of the move. The level tends to BREAK and accelerate.
Think of it as a heat map of prices. At the blue levels look for reactions, fades and mean-reversion entries, with your stop on the other side. At the red levels do not defend the position: if price loses them, continuation is the norm, not a bounce.
A dense cluster of blue levels above and below price is the signature of a range day. A run of red levels below is a clear path lower.
The distance between GEX 1 and price tells you how much room there is before the next reaction you can reasonably expect.
Hold / Break labels and their intensity
A label attached to the GEX levels and the walls, with two parts:
- Hold — net gamma at that strike is positive: dealer hedging works against the move and tends to defend the level.
- Break — net gamma is negative: hedging works with the move and tends to push through and accelerate.
- HIGH / MED / LOW — the relative size of that gamma compared with the largest level of the day. HIGH is a large concentration; LOW is residual.
HIGH means there is a lot of capital obligated to behave that way at that price, so that behavior is more likely. LOW means the concentration is small and the level may go unnoticed.
As a quality filter for the levels, not as a signal. Prioritize trading reactions at Hold HIGH levels and continuations through Break HIGH levels. Do not build a trade whose only rationale is a LOW level.
You can turn these labels off in the settings if you prefer a cleaner chart.
These labels are positioning tendencies, not predictions and not guarantees. They are not win rates and they are not signals. They measure where the money that is obligated to hedge sits, nothing more. A macro catalyst —CPI, FOMC, a headline, an auction— can go straight through any level, however HIGH it is, with no warning. Use them as context and always manage risk as if the level could fail.
Directional bias · dashboard row
A row of the summary panel that turns the current regime into a one-line read: where price tends to go according to positioning, and with what confidence.
In positive gamma it reads pull to <Max Gamma>: price is being drawn toward the pin. That is a compression read, not a trend read.
In negative gamma it reads accel to <Call Wall> or accel to <Put Wall>: price tends to move away from the flip and to accelerate toward the wall on whichever side it is.
The HIGH / MED / LOW confidence is computed by comparing the distance to that target with the expected move of the session. If the target falls inside the move the options market is pricing today, confidence is high; if it is much further away, it is low, because under normal conditions there is not enough time to get there.
As session context, never as an entry. If your idea lines up with the bias, you have the wind at your back. If you are going against it, demand more confirmation, size down or wait for a better price.
Net GEX · total gamma in dollars
The sum of all the gamma of the symbol, expressed in dollars per 1 % move in the underlying. It is the size of the hedge dealers would have to execute if price moved one percent.
Large and positive — a calm, range-bound day with suppressed volatility. Moves exhaust and revert.
Negative — a volatile day, trending, with wide ranges. Moves extend.
What matters is not the absolute number but whether it is high or low for that symbol. Get in the habit of comparing today's value with that of the previous days.
For sizing and choosing targets. With Net GEX strongly positive: small targets, fades at the extremes, do not chase breakouts. With Net GEX negative: give the trade room to run, use wider stops and size down, because the session range widens.
Net DEX · dealer delta
Net dealer delta exposure: how much accumulated directional position they have to offset, aggregating the whole options chain.
Markedly positive DEX → dealers are carrying long delta and tend toward selling rallies: they sell into strength to get back to neutral. That is a headwind for upside extension.
Negative DEX → dealers are short delta and tend toward chasing price: they chase it by buying. That feeds continuation in the moves.
As a flow nuance layered on top of the gamma read. If Net GEX and Net DEX point the same way, the read is cleaner. If they contradict each other, lower your conviction.
Expected move · ATM straddle
The price of the at-the-money straddle of the nearest expiration: literally, the move the options market is charging for this session. It is drawn as a band above and below the reference price.
It is the range the market itself treats as normal for today. It is not a hard boundary —it gets exceeded often— but it is a consistent and honest yardstick, because it comes from a real price somebody is paying.
Targets. A target inside the expected move is reasonable; one that requires two times the expected move needs a catalyst.
Feasibility test for a level. If the Call Wall is 2.5 expected moves away, it is not a realistic target today: use it as structural reference, not as a target.
Exhaustion. Once price has already covered the full expected move of the day, the odds of clean continuation drop: it is a better area to take profits than to initiate.
0DTE walls · same-day expiration
The same walls —Call Wall, Put Wall and Zero Gamma— but computed only from the contracts that expire today. In the indicator they show up as CW 0DTE, PW 0DTE and ZG 0DTE, drawn with a dashed line.
In SPX and NDX (and in SPY/QQQ) the daily-expiration contracts carry most of the volume, so they dominate intraday behavior. When the 0DTE walls do not line up with the all-expirations ones, the 0DTE walls are what govern trading the session.
These levels decay through the day: as the close approaches, gamma from the contracts expiring today spikes near price and dies off away from it. That is why the pin effect is much stronger in the afternoon than in the morning.
For intraday, use the 0DTE levels as your working levels and the all-expirations ones as background structure.
The indicator also includes volume-based 0DTE walls (a toggle in the settings), computed from the volume traded today instead of yesterday's open interest. They approximate the positioning being built in the current session.
Gamma support / resistance and OI walls
Gamma support is the nearest positive-gamma strike below price, and gamma resistance the nearest one above. They are intermediate reaction levels, useful when price is far from the main walls and you need finer references inside the range.
The strikes with the highest raw open interest, not weighted by gamma. They tell you where the most contracts are open, which is not exactly the same as where the most hedging sits. They are a secondary reference: less precise than the gamma levels, but very visible to the rest of the market. They are off by default.
04 · TradingHow it all reads together
Levels on their own are worth little. The value is in the combination: regime, distance and relative size. This is the order in which it pays to read the dashboard.
60-second checklist, before you trade
- Where is price relative to Zero Gamma? Above: fade mode. Below: momentum mode.
- What sign and what size is Net GEX? It frames whether the day is range-bound or expansionary.
- Where are the Call Wall and the Put Wall, and how much room is there to each one?
- Where is Max Gamma? If price is already on it, expect compression.
- What is the expected move, and how much of it is already used up?
- What does Directional bias say, and with what confidence?
- The nearby levels: are they Hold or Break, and at what intensity?
Desk scenarios
Price above Zero Gamma, close to the Call Wall, Net GEX strongly positive. Expect chop and fade. Longs chasing into the Call Wall carry poor risk/reward: you are buying exactly where a mechanical seller sits. If you trade it, look for tactical shorts toward Max Gamma or the first blue GEX level, with small targets.
Price below Zero Gamma, Net GEX negative. Put the mean-reversion mindset away: fades get run over here. Look for continuation toward the Put Wall. Wide ranges: wider stops and smaller size so that your dollar risk does not change.
Price trapped between a blue GEX 1 below and the Call Wall above, with Net GEX positive. Range day: trade the edges and not the middle. Every approach to an extreme is an opportunity; every bar in the center is noise.
Price breaks Zero Gamma to the downside with acceptance. This is the moment to switch modes, not to defend the previous idea. The targets become the Put Wall and the first red level. If you had fade positions on, review them: the environment that justified them no longer exists.
| Situation on the dashboard | What it usually means | What to watch |
|---|---|---|
| Price above Zero Gamma · Net GEX strongly positive | Range Compressed volatility, extremes that get rejected. | That price does not lose Zero Gamma. If it does, the scenario inverts. |
| Price below Zero Gamma · Net GEX negative | Trend Moves that extend and do not pull back. | Distance to the Put Wall and how much expected move is left to travel. |
| Price glued to the Call Wall | Ceiling Rallies stall on dealer hedging. | Acceptance above it on volume: it can turn into a squeeze. |
| Price glued to the Put Wall in positive gamma | Floor The area where selloffs tend to stop. | Losing the level while already in negative gamma: it tends to accelerate. |
| Price near Max Gamma, near the close | Pin Compression toward the strike, especially with 0DTE. | Breakouts that fail. Small targets. |
| Next level labeled Hold HIGH | Reaction more likely Large concentration of positive gamma. | Good area to look for a reversion; bad area to chase. |
| Next level labeled Break HIGH | Acceleration more likely Concentrated negative gamma. | Do not defend the level. Think continuation. |
| Expected move already used up | Exhaustion The day has already done what the market was charging for. | Better area to take profits than to initiate. |
| Directional bias reading accel to with HIGH confidence | Momentum The target is within the day's reach. | Trading against that bias demands more confirmation. |
| 0DTE walls far from the all-expirations walls | Conflict The intraday and the structural picture do not agree. | For the session 0DTE governs; for swing, the all-expirations walls. |
GexVision tells you where and under what conditions. The entry, the trigger and the management are still yours: order flow, structure, your usual setup. What changes is that you stop trading arbitrary levels and start trading levels where there is a mechanical reason for something to happen.
05 · InstallationTradingView
The TradingView indicator does not download data on its own: it reads a levels text that you paste into its settings. It is a two-minute process the first time and a ten-second one every time you want to update it.
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Open the chart
Go to TradingView and open the symbol you are going to trade, for example
NQ1!orES1!. -
Open the Pine Editor
It is in the bottom panel of the screen, on the Pine Editor tab. If you do not see it, expand the bottom panel from the lower edge of the chart.
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Paste the indicator
Delete the sample content in the editor and paste the full GexVision indicator code.
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Save
Click Save and give it a name —for example
GexVision - GEX Levels—. From here on the script lives in your account and is available from any browser. -
Add it to the chart
Click Add to chart. The indicator appears over price, still with no levels.
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Paste the levels text
Open the indicator settings (the gear icon next to its name on the chart) and find the Data (paste from GexVision) field. Copy the levels text from the GexVision dashboard with the Copy levels text button and paste it there.
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Confirm
Click OK. The levels are drawn instantly, with their labels and the summary panel in the corner.
Automatic conversion to futures
The levels are computed on the index or the ETF (SPX, NDX, QQQ, SPY, IWM, DIA...). When the chart is a futures chart —ES, NQ, RTY, YM and their micros— the indicator automatically converts each level to the futures price using the live ratio between the two:
futures_level = strike x (futures_price / index_price)The ratio recalculates on its own while both instruments are quoting at the same time, and freezes at the last valid value outside those hours.
The toggle is called Convert levels to the chart symbol and it is on by default. If at some point the ratio cannot be computed, or you want to fix it yourself, use Manual ratio (0 = automatic): type the value and the indicator will use it instead of the automatic one. For example, NQ/NDX runs around 1.002 and NQ/QQQ around 41.2.
Go back to the GexVision dashboard, click Copy levels text and paste the new text into the same Data field in the settings. That is all: no need to reload the page, re-add the indicator or touch the Pine Editor. Since the levels are recalculated every 5 minutes, pasting them once or twice per session is usually enough.
The settings also control what gets drawn: Zero Gamma and its 0DTE variants, all-expirations and 0DTE walls, weekly and monthly walls, Max Gamma, gamma support/resistance, OI walls, expected move, the GEX profile by strike, how many GEX levels to show (from 1 to 10) and whether you want the Hold/Break labels. You can also change colors, line thickness, label size and the position of the summary panel.
06 · InstallationBookmap
The Bookmap add-on does connect on its own: it queries the GexVision server with your access key and redraws the levels over the heatmap without you having to copy or paste anything.
Requirements
- Bookmap 7.3 or later.
- Python 3.6 or later installed on the same machine.
- The Bookmap Python bridge. Install it once from the terminal:
pip3 install --user bookmapInstalling the add-on
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Open Bookmap
Go to Settings and open Api plugins configuration.
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Add the file
Click Add… and select the gexvision_bookmap.py file you received with your subscription.
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Enable it
Check the add-on box in the list to enable it.
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Open your chart
Open the instrument —
NQ,ES, whichever you trade— and the levels will appear drawn over the heatmap.
What it draws and how often
The add-on polls the GexVision server for levels every 60 seconds using your access key, and draws Zero Gamma, the Call Wall, the Put Wall, Max Gamma and the GEX 1-N ladder over the heatmap, already converted to the price of the futures contract you have open.
Configuration
The add-on is configured with two environment variables:
| Variable | What it does |
|---|---|
| GEXVISION_API_KEY | Your personal access key. It is what authorizes the add-on to read the levels. |
| GEXVISION_SERVER | The URL of the GexVision server you received when your account was activated. |
On macOS or Linux, define them before opening Bookmap:
export GEXVISION_API_KEY="your-access-key"
export GEXVISION_SERVER="https://your-gexvision-server"On Windows, from the command prompt:
setx GEXVISION_API_KEY "your-access-key"
setx GEXVISION_SERVER "https://your-gexvision-server"Check, in this order: that the add-on box is checked in Api plugins configuration, that pip3 install --user bookmap completed without errors, that both environment variables are defined before you start Bookmap, and that the instrument you have open is one of the supported ones. Remember that the first read can take up to a minute.
07 · DataData schedule
This section explains something that confuses almost everyone during the first week: why the levels do not change every minute, and why after the options close they stop changing altogether. Read it all the way through; it will save you questions.
Open interest is published once a day
Open interest —how many contracts are open at each strike— is published by the OCC once a day, and it reflects the previous session close. There is no such thing as real-time open interest: it is not data the market broadcasts tick by tick.
As a result, the levels built on open interest —the walls, Max Gamma, the GEX 1-10 ladder, Zero Gamma— are stable throughout the session. And that is exactly what you want: they are references for the day, not indicators that flicker.
What does change intraday
Three things move during the session and affect the calculation: the spot price, implied volatility and the time remaining to expiration. With those three inputs GexVision recomputes the gamma of every contract:
| Window | What happens | Frequency |
|---|---|---|
| 08:00 – 17:00 ET | Full recalculation with updated spot, IV and time to expiration. | Every 5 minutes |
| Outside that window | Maintenance refresh, to keep the data ready. | Every hour |
| 16:15 ET | Options close. The values stop changing until the next session. | — |
| Every morning | The new OCC open interest arrives, corresponding to the previous close. | Once a day |
After the options close (16:15 ET) the numbers stay frozen until the next session. If at 18:30 ET you see exactly the same values you saw at 16:20 ET, the system is working correctly: there are no new options quotes to recalculate anything with.
Data delay
The free CBOE data arrives with about a 15-minute delay. For the way it is used here that matters much less than it sounds: the levels are strike prices, not ticks. A strike does not move because price rises two points. What the delay affects is the precision of the spot and the IV used in the recalculation, and that shifts the levels only marginally.
Positioning for the current day
Because open interest is from yesterday, today's positioning changes are approximated with the volume traded during the session. That is where the volume-based 0DTE walls come from: they are an estimate of where positioning is being built in real time, and they are especially useful on days with heavy activity in contracts expiring the same day.
08 · SupportFrequently asked questions
No. GexVision does not generate signals and does not tell you when to enter. It is context and positioning: it shows you where dealer hedging is concentrated and what kind of behavior tends to show up around those prices.
The right way to use it is to combine it with your own process —order flow, structure, your setup— to decide where to look for trades and where not to. The levels inform your decisions; they do not make them for you.
No. The levels do not depend on tick-by-tick data: they are strike prices computed from the options chain. The indicator draws them the same way with delayed data as with real-time data.
The CME data add-on (about 7 USD a month on TradingView) is optional. It gives you the futures price with no delay, which helps if you execute from TradingView, but it does not change where the levels fall or how they are read.
Because open interest is published once a day and reflects the previous close. The walls, Max Gamma and the GEX ladder are built on it, so they are stable throughout the session. That is a feature, not a limitation: a level that moves every minute is useless as a reference.
What does get recalculated every 5 minutes during market hours is the effect of spot, implied volatility and time to expiration. That recalculation mostly shifts Zero Gamma. The full detail is in the Data schedule section.
It works on any symbol with listed options: indexes, ETFs and individual stocks.
One practical caveat: the quality of the read depends on the liquidity of the chain. In SPX, NDX, SPY or QQQ open interest is enormous and the levels are very sharp. On a stock with thin options volume the levels still exist but carry far less weight, because there is little real hedging behind them.
Yes, and it is in fact one of the uses where it shows up most. The indicator computes walls and Zero Gamma only from the contracts expiring today (CW 0DTE, PW 0DTE, ZG 0DTE), which are the ones that dominate intraday behavior in SPX and NDX.
Keep in mind that those levels decay during the session: gamma from the contracts expiring today concentrates closer and closer to price as the close approaches, so the pin effect is much stronger in the afternoon. You also have the volume-based 0DTE walls, which approximate the positioning built during the session itself.
The one you already trade. The levels are horizontal prices: they do not change with the chart timeframe, the same way a support level does not change because you look at it on 5 minutes instead of 15.
In practice, for intraday on NQ or ES they read comfortably on 1- to 15-minute charts. For the context of the day, a look at 30 minutes or the hourly chart helps you see the real distance to each wall. The regime (Zero Gamma, Net GEX) is set once a day and applies to every timeframe.
Email support from the same address you subscribed with and a new key will be generated for you. The old one stops working at that moment, so if you suspect somebody else has it, request the new one as soon as possible.
After that you only have to update it wherever you use it: in the GEXVISION_API_KEY variable of the Bookmap add-on and when you sign in to the GexVision dashboard. The TradingView indicator does not store the key, so there is nothing to change there.
Yes. The license is personal, not per device: you can have it on your home computer, your office computer and your laptop, as long as it is for your own use.
The TradingView indicator is tied to your TradingView account, so it is available from any browser you sign in to. For Bookmap, install the add-on on each machine and define the GEXVISION_API_KEY and GEXVISION_SERVER variables on each one. What is not allowed is sharing your key with other people.
Because it is converted, and that is how it should be. The levels are computed on the index (NDX, SPX...) and the future trades at a different price because of cost of carry and dividends. The indicator applies the live ratio between the future and the index to place each level at the equivalent futures price.
If the ratio cannot be computed —for example, outside the hours when both are quoting— the last valid value is used. You can fix it yourself with Manual ratio in the settings.
It happens, and it will happen. The Hold/Break labels with HIGH, MED or LOW intensity describe positioning tendencies, not certainties. A macro print, a headline or a large institutional flow can go through any level.
What is useful is what happens afterward: when a Hold HIGH level gives way with acceptance, that break is usually informative, because it means enough flow came in to overwhelm dealer hedging. Always manage risk assuming that any level can fail.
Legal disclaimer
GexVision is an educational and analytical tool. The information, levels and readings it provides are supplied for informational purposes only and do not constitute financial, investment, legal or tax advice, nor a personalized recommendation to buy or sell any instrument.
Trading futures, options and other leveraged products carries a substantial risk of loss and is not suitable for all investors. You can lose all of your capital. Trade only with money you can afford to lose.
Past results do not guarantee future results. No level, label or reading in this tool implies a guaranteed probability of being right. The levels are derived from third-party options data that may arrive delayed, be incomplete or contain errors.
All trading decisions and their consequences are the sole responsibility of the user.