  
  Free Indicator

Options Strike Price Support & Resistance for TradingView

Options Strike Price Support & Resistance auto-plots 15 levels above and below the current price based on options strike price gaps or psychological round numbers. Each level updates its color and percentage distance in real time, with major level highlights and alerts built in. Free on TradingView for all markets and timeframes.

Built by Lane Dotson · Last updated March 26, 2022 · View on TradingView →

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WHAT IT DOES

Core Features

Automatic support and resistance levels generated from options strike prices or psychological round numbers, with color-coded lines, a percentage gap table, major level highlights and alerts.

Strike Price & Psychological Level Grid

Set your starting level and strike price gap for any ticker and the indicator automatically plots 15 levels above and 15 levels below the current price. For options-active tickers like SPY, set the gap to the strike price increment (e.g., 2.5). For crypto or other assets without options chains, use psychological round numbers instead such as 500 or 1,000 for BTC, or .25 and .50 for smaller-priced coins.

Color-Coded Support & Resistance

If price is above a level, it paints green, acting as support. If price is below a level, it paints red, acting as resistance. The colors update dynamically as price crosses levels, so you always have an instant visual read on which levels are support and which are resistance. You can customize all support and resistance line colors at once from a single setting.

Percentage Gap Table

A real-time table shows how far the current price is from the nearest support and resistance levels, so you always know your risk-to-reward ratios before entering a trade. Each row is color-coded to match its corresponding support or resistance line. The table can be repositioned on the chart or turned off.

Major Levels for High Open Interest Strikes

You can designate major strike price levels(typically where open interest is highest) and the indicator will highlight them separately with their own percentage gap updates. This helps you identify the strike prices that are most likely to act as magnets or walls for price.

Level Alerts

The indicator includes alerts for each support and resistance level. Turn on TradingView alerts to get notified when price crosses key strike price levels without watching the chart.

SETUP GUIDE

How to Set Up the Indicator

Step 1: Set the Starting Level

Go into the indicator settings and set the starting level to the nearest round number or strike price for the ticker you’re trading. If you’re trading SPY near 450, set the starting level to 450. If you’re trading SQQQ near 38, set it to 38. For crypto, use the nearest psychological number like 40,000 for BTC, 2,500 for ETH, 16.50 for LINK.

Step 2: Set the Strike Price Gap

Set the gap between levels to match the options strike price increments for that ticker. For SPY, this is 2.5. For SQQQ, it’s 1. For crypto or assets without options chains, use psychological price increments like 500 or 1,000 for BTC, 100 or 250 for ETH, or decimals like .25 or .50 for smaller-priced coins.

Reading the Levels

CONFIGURATION

Settings Overview

The indicator has a straightforward set of options. Here’s what you can configure in the input settings.

Main Settings

Setting	Default	Description
Starting Level	0	The center price level or strike price to build the grid from. Set to the nearest round number or strike price for the ticker you're trading.
Strike Price Gap	1	The price increment between each level. Match this to the options chain strike price gap for the ticker, or use psychological increments for crypto.
Lines On/Off	On	Toggle the support and resistance lines on or off.
Extend Lines	Varies	Extend the support and resistance lines across the full chart width.
Support/Resistance Colors	Green / Red	Change the color of all support or all resistance lines at once from a single setting.
Line Width	Varies	Adjust the thickness of all support and resistance lines at once.
Major Levels	Off	Set specific high open interest strike prices as major levels with their own percentage gap updates.
Percentage Table	On	Toggle the percentage gap table on or off.
Table Position	Bottom Right	Move the percentage gap table to different areas on the chart.

GOOD TO KNOW

Important Notes & Limitations

⚠ The indicator does not pull live options chain data from an exchange. You must manually set the starting level and strike price gap for each ticker. If the underlying price moves significantly, you may need to update the starting level.

⚠ For assets without options chains (crypto, some forex pairs), the levels are based on psychological round numbers rather than actual strike prices. They still function as support and resistance but are not tied to open interest data.

⚠ The 15 levels in each direction are fixed. If price moves beyond the grid, you will need to adjust the starting level to recenter the levels around the current price.

FREE ON TRADINGVIEW

Options Strike Price Support & Resistance is Free to Use

Add it to your TradingView charts and start trading with strike price levels today. No subscription required.

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COMMON QUESTIONS

Frequently Asked Questions

No. You manually set the starting level and strike price gap for each ticker. The indicator generates the level grid from those two inputs. It does not connect to a live options chain.

Yes. Instead of strike price gaps, use psychological round number increments. For example, 500 or 1,000 for BTC, 100 or 250 for ETH, or .25 and .50 for smaller-priced coins. These round numbers still act as support and resistance.

Green means price is above that level and it is acting as support. Red means price is below that level and it is acting as resistance. The colors update dynamically as price crosses levels.

Major levels let you highlight specific high open interest strike prices separately from the regular grid. They get their own percentage gap updates so you can quickly see how far price is from the most significant levels.

It works on all markets including stocks, crypto, futures and forex, and on all chart timeframes.

CHANGELOG

Release Notes

    March 26, 2022
  

Alerts, Major Levels & Customization Update

Added alerts for all levels, major level highlights for high open interest strike prices with percentage updates, extendable lines and additional customization options.

What Changed

• Added alerts for each support and resistance level

• Added major levels for high open interest strike prices with their own percentage gap updates

• Added extendable lines option

• Added additional customization options

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