Gamma vs ORB

[rene6985]

ORB by Toby Crabel is an old indicator, it is not worthy anymore, why, because you could see now in Gamma volume data if the market will break the opening range or not. For me it is an old stuff when data was not available before and theory was made and become a guide.

 

[FellowTrader]

Here is something that in a way replaces having to draw your GEX data manually.
the quick description is:
# DEALER RANGES
# SETTING UP PREDICTED MOVES FOR THE WEEK
# CALL WALLS AND PUT WALLS
# WEEKLY GAMMA FLIPS FROM POSITIVE AND NEGATIVE GAMMA
# THESE PREDICTED MOVES ACT AS A FORM OF SUPPORT AND RESISTANCE
# CALL AND PUTWall WALLS ACT AS MAGNETS AND SUPPLY AND DEMANDIndex ZONES
# WEEKLY GAMMA LINE IDENTIFIES CHANGES IN DEALERS HEDGING STRATEGIES
# ANTWERKS 03/14/2026

You will find that OI sets up in these same ranges as well as most supply and demand scripts.

# DEALER RANGES
# SETTING UP PREDICTED MOVES FOR THE WEEK
# CALL WALLS AND PUT WALLS
# WEEKLY GAMMA FLIPS FROM POSITIVE AND NEGATIVE GAMMA
# THESE PREDICTED MOVES ACT AS A FORM OF SUPPORT AND RESISTANCE
# CALL AND PUTWall WALLS ACT AS MAGNETS AND SUPPLY AND DEMANDIndex ZONES
# WEEKLY GAMMA LINE IDENTIFIES CHANGES IN DEALERS HEDGING STRATEGIES
# ANTWERKS 03/14/2026


declare upper;

input showLabels = yes;

# Detect new week
def newWeek = GetWeek() <> GetWeek()[1];

# Capture Friday close
def fridayClose =
    if newWeek then close[1]
    else fridayClose[1];

# Capture IV once per week
def weeklyIV =
    if newWeek then imp_volatility()
    else weeklyIV[1];

# Weekly expected move
def EM =
    fridayClose * weeklyIV * Sqrt(7 / 365);

# Lock EM
def lockedEM =
    if newWeek then EM
    else lockedEM[1];

# Expected move levels
def EMhigh = fridayClose + lockedEM;
def EMlow  = fridayClose - lockedEM;

# Dealer levels (approx)
def callWall = fridayClose + (lockedEM * 0.75);
def putWall  = fridayClose - (lockedEM * 0.75);

# Gamma flip (pivot)
def gammaFlip = fridayClose;

# Break connection at start of week
def breakLine = if newWeek then Double.NaN else 1;

# Plots
plot ExpectedHigh = if breakLine then EMhigh else Double.NaN;
plot ExpectedLow  = if breakLine then EMlow else Double.NaN;
plot CallWall1    = if breakLine then callWall else Double.NaN;
plot PutWall1      = if breakLine then putWall else Double.NaN;
plot GammaFlip1    = if breakLine then gammaFlip else Double.NaN;

ExpectedHigh.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
ExpectedHigh.SetDefaultColor(Color.CYAN);
ExpectedHigh.SetLineWeight(2);

ExpectedLow.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
ExpectedLow.SetDefaultColor(Color.CYAN);
ExpectedLow.SetLineWeight(2);

CallWall1.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
CallWall1.SetDefaultColor(Color.green);
CallWall1.SetLineWeight(3);

PutWall1.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
PutWall1.SetDefaultColor(Color.red);
PutWall1.SetLineWeight(3);

GammaFlip1.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
GammaFlip1.SetDefaultColor(Color.YELLOW);
GammaFlip1.SetStyle(Curve.SHORT_DASH);

# Optional EM range shading
AddCloud(ExpectedHigh, ExpectedLow, Color.DARK_GRAY, Color.DARK_GRAY);

# Labels
AddLabel(showLabels, "Weekly Expected Move: ±" + Round(lockedEM,2), Color.CYAN);
AddLabel(showLabels, "Call Wall", Color.MAGENTA);
AddLabel(showLabels, "Put Wall", Color.GREEN);
AddLabel(showLabels, "Gamma Flip", Color.YELLOW);

https://imgur.com/La0VQhF

Thanks Antwerks.. Somehow i am not able to see what you shared in the screenshot, mind sharing the workspace.

 

[antwerks]

Thanks Antwerks.. Somehow i am not able to see what you shared in the screenshot, mind sharing the workspace.

THE WORKSPACE HAS SOME vip INDICATORS SO i WILL SHARE WITH YOU OVER THERE ,
https://usethinkscript.com/threads/requested-share.22253/