Expected Move Levels Plotter# Expected Move Levels Plotter - Pine Script Indicator
## Overview
The Expected Move Levels Plotter is a comprehensive Pine Script indicator designed to help traders visualize expected price movements based on options market data. This indicator plots key support and resistance levels using either Expected Move values from ThinkorSwim or calculated implied volatility-based movements.
## Key Features
### Dual Calculation Methods
- **Expected Move Method**: Input expected move values directly from ThinkorSwim platform
- **IV-Based Method**: Calculate expected moves using implied volatility percentage and time to expiration
- **Both Methods**: Display both calculation methods simultaneously for comparison
### Multiple Level Types
- **Standard Expected Move Levels**: Plot basic expected move upper and lower boundaries
- **Enhanced EM × 1.85 Levels**: Extended levels at 1.85 times the expected move for wider potential ranges
- **IV × 1.85 Levels**: Implied volatility-based extended levels for comprehensive analysis
### Highly Customizable Display
- **Flexible Price Sources**: Use current close price or manual price input
- **Custom Colors**: Individual color settings for each level type (yellow for standard EM, red for EM×1.85, blue for IV×1.85)
- **Line Styling**: Adjustable line width (1-5), style (solid, dashed, dotted), and extension options
- **Label Customization**: Configurable label positioning, size, style, and colors with price value display
### Information Dashboard
- **Real-time Data Table**: Shows current price, expected move values, and calculated levels
- **Flexible Positioning**: Choose from 6 table positions (top/bottom/middle + left/right)
- **Customizable Appearance**: Adjust table colors, text size, and border styling
### Smart Alert System
- **Price Breakthrough Alerts**: Notifications when price crosses above or below key levels
- **Multiple Alert Types**: Separate alerts for standard EM levels and EM×1.85 levels
- **Automated Monitoring**: Set-and-forget alert system for active trading
## Technical Specifications
### Calculation Formula
**IV-Based Expected Move**: `Price × (IV/100) × √(Days/365)`
### Input Parameters
- Expected Move value (from ThinkorSwim)
- Implied Volatility percentage
- Number of days to expiration
- Price source selection
- Comprehensive styling options
### Performance Features
- **Efficient Memory Management**: Automatic cleanup of old lines and labels
- **Real-time Updates**: Dynamic recalculation on each bar
- **Optimized Rendering**: Smart line extension and label positioning
## Use Cases
### Options Trading
- Identify potential profit/loss zones for options strategies
- Assess market expectations for upcoming events
- Plan entry and exit points based on expected volatility
### Day Trading
- Establish intraday support and resistance levels
- Set stop-loss and take-profit targets
- Monitor for breakout opportunities beyond expected ranges
### Swing Trading
- Plan multi-day position management
- Assess risk/reward ratios for swing positions
- Monitor for extended moves beyond normal expectations
### Risk Management
- Visualize potential portfolio impact zones
- Set appropriate position sizing based on expected moves
- Monitor for unusual market behavior
## Installation & Setup
1. Copy the Pine Script code into TradingView's Pine Editor
2. Configure your preferred calculation method (Expected Move or IV-Based)
3. Input relevant values from your options platform
4. Customize colors and styling to match your chart theme
5. Enable desired alert conditions
6. Apply to your chart
## Best Practices
### Data Input
- Use current session IV values for most accurate calculations
- Update expected move values regularly, especially before earnings or events
- Cross-reference with multiple options chains when possible
### Visual Setup
- Choose contrasting colors for different level types
- Position labels to avoid chart clutter
- Use appropriate line styles for easy identification
### Alert Management
- Set alerts for levels most relevant to your trading strategy
- Test alert conditions before live trading
- Adjust alert sensitivity based on market volatility
## Market Applications
### Earnings Events
- Visualize market expectations before earnings announcements
- Monitor actual vs. expected price movements
- Plan earnings play strategies
### FOMC & Economic Events
- Assess market pricing of event risk
- Identify potential overreactions or underreactions
- Plan hedging strategies
### Index Trading
- Particularly effective for major indices (SPX, NDX, RUT)
- Useful for ETF trading (SPY, QQQ, IWM)
- Applicable to high-volume individual stocks
## Version Information
- **Version**: 5
- **Type**: Overlay indicator
- **Compatibility**: TradingView Pine Script v5
- **Chart Types**: All timeframes and instruments with options data
## Support & Updates
This indicator is designed for traders who want to incorporate options market expectations into their technical analysis. Regular updates ensure compatibility with TradingView's latest features and market structure changes.
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*Note: This indicator is for educational and analysis purposes. Always conduct your own research and consider multiple factors before making trading decisions.*
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