Max Pain Watchlist For ThinkOrSwim

[ILIKESTOCKS]

I made this watchlist with the help of the dreaded AI. It works though. Basically has the mag 7 with the SPY you have to manually enter each morning the Max Pain for the day for each in the code. If anyone has a workaround for that let me know. It works on a percentage above below for the current price vs the max pain. Works well in these recent trading days.

mod note:
Why This Helps Day Traders

Benefit	Explanation
Spot stretched names	Helps avoid chasing tops or bottoms blindly
Identify pinned names	Shows where price is magnetized toward Max Pain
See positioning pressure	Reveals where buyers or sellers have the upper hand
Anticipate reversion zones	Highlights where drift back toward Max Pain is more likely

This isn’t a trade signal — it’s context. It keeps you oriented so your decisions are grounded in positioning, not emotion.

Morning Routine for Using This Watchlist

Step	What You Do	Why It Matters
1. Look up Max Pain for SPY + Mag 7	Gather the day’s MP levels	Inputs must be fresh daily
2. Update the script inputs	Replace the MP values in the code	Ensures accurate % readings
3. Add/refresh the custom watchlist column	Apply the script to your watchlist	Displays real‑time convergence %
4. Watch the % move intraday	Observe stretch, pinning, and drift	Guides risk and timing
5. Use the readings to guide decisions	Risk, sizing, chase vs wait, stretch vs room	Keeps your trading disciplined and structured

# ============================================
# WATCHLIST COLUMN — MP CONVERGENCE %
# ============================================

declare lower;

# -----------------------------
# MANUAL MAX PAIN ENTRY
# -----------------------------
input MP_SPY = 678.0;
input MP_AAPL = 250.0;
input MP_MSFT = 470.0;
input MP_GOOGL = 270.0;
input MP_AMZN = 215.0;
input MP_META = 630.0;
input MP_NVDA = 150.0;
input MP_TSLA = 470.0;

# -----------------------------
# SYMBOL → MP MAP (INLINE)
# -----------------------------
def MP =
if GetSymbol() == "SPY" then MP_SPY
else if GetSymbol() == "AAPL" then MP_AAPL
else if GetSymbol() == "MSFT" then MP_MSFT
else if GetSymbol() == "GOOGL" then MP_GOOGL
else if GetSymbol() == "AMZN" then MP_AMZN
else if GetSymbol() == "META" then MP_META
else if GetSymbol() == "NVDA" then MP_NVDA
else if GetSymbol() == "TSLA" then MP_TSLA
else 0;

# -----------------------------
# CONVERGENCE %
# -----------------------------
def price = close;

def convergencePct =
if MP != 0
then ((price - MP) / MP) * 100
else 0;

plot MP_Convergence = convergencePct;

MP_Convergence.AssignValueColor(
if convergencePct > 0 then Color.RED
else if convergencePct < 0 then Color.GREEN
else Color.WHITE
);