MenthorQ Gamma Levels Indicator

[00:00:04.14] - Speaker 1
In this video, we're going to go through our gamma levels end of day indicator and our gamma levels intraday indicator. To access the indicators, you can simply come to your TradingView account. After you connected the account and find the indicators in the invite only section, I can start adding my end of day indicator and my intraday indicator. All right, so we're going to go through the settings and we're going to go through on how to use it and leverage it. But the first important part that you need to understand is that the end of day and the intraday indicator will automatically update the levels for you in the chart.

[00:00:42.22] - Speaker 1
So whenever you come to the indicator, you don't need to input anything. The levels will be automatically calculated for you. So let's go through when the levels update. When we look at the end of day, we update the indicator twice. We update the indicator by 6pm Eastern time for indices, stocks and ETFs and then we re update the indicator at around 11pm for futures.

[00:01:07.10] - Speaker 1
So at the end of the day you will have access to the new levels for indices, stocks and ETFs at 6pm Eastern Time. And then the futures will be updated at around 11pm Eastern time. Very, very important. The intraday indicator will update about 14 plus times per day. And we're going to show you where you can actually see this and where you can see the different time time stamps.

[00:01:33.00] - Speaker 1
Each indicator already has levels pre calculated, but we do have levels for around 500 plus assets. So not all our coverage is part of these indicators. And that's why for companies that are not covered, you would need to use the custom levels indicators. And we're going to prepare a separate videos for it. But basically to access the coverage and to see what tickers are included in the indicators, simply come to our guide section right there.

[00:02:03.09] - Speaker 1
Click on models and data and click on Mentor Queue Asset Coverage.

[00:02:09.11] - Speaker 1
This will allow you to go through our coverage list where you can click on this file and you'll be able to see all the different assets that we cover. So we cover around 1200 assets. We also have blind spots here. We also have futures. We have our monthly ticket right there so you can access all the coverage there.

[00:02:29.06] - Speaker 1
The assets that are part of the gamma levels, end of day and intraday that are already pre calculated in the indicator are all the assets that are tier 1, 2, 3. If you are looking at a company that is in tier 4, this typically are smaller companies or companies that are not heavily traded or maybe they have less option activity then you would need to Use our custom levels indicator. But we're going to show you in a different videos on how to do that. If we go back to our trading view, let's start with our gamma levels end of day, right? So once we upload the indicator, the indicator will appear like this.

[00:03:06.04] - Speaker 1
And now you'll be able to simply create your watch list and simply basically go from a ticker to a ticker and simply change it right here. And basically the indicator will automatically have the levels updated for you on the chart. Right? So very, very nice, very, very easy to use. So now let's go through the indicator and the different customization settings that we have.

[00:03:31.04] - Speaker 1
Let's open our SPX sticker to start with. And here we have our indicator. So let's go into the settings. To go into the settings, simply click on the settings section right there and this will open up the indicator settings. So the first thing that we can choose from is really where we want the labels to be positioned.

[00:03:52.10] - Speaker 1
So we can choose left, center or right. We can also offset the labels so if they are too close to the price we can add an offset. And if we look at, for example, we change from 50 to 250, you can see how the labels move towards the right of the screen. We also have the option to add a short name. The short name will simply shorten the labels.

[00:04:17.13] - Speaker 1
So in this case the labels with a lot of text like our core resistance put support. By clicking on the short name, you can basically make the text smaller so that you can leverage that in that way by just ticking the box. Then let's go into our table settings. So to enable the table, you can simply click on table text size and choose the size of the table. So if we look at normal we can have the table appearing right there.

[00:04:47.14] - Speaker 1
And if you click on small, as you can see the table will go smaller. So let's go back to normal. And what this tells you is really the levels that you have selected right here and how far the levels is to the spot price. This is very useful because as you are monitoring the asset real time, you can kind of see if the price is approaching certain levels. So you can, you can click on that on the table.

[00:05:11.26] - Speaker 1
If you wanted to synchronize the colors of the labels that are here with the table, you can simply click on the synchronize with the chart level color. And as you can see, our 1D max and 1D minimum are in orange and they will appear in the same color. If not, you can go back to the settings and you can also choose the color code of the tables if you want it on dark mode or light mode. And then also you can also choose the table position. Wherever you want to position the table to disable it, simply click on none and the table will disappear.

[00:05:48.22] - Speaker 1
Now let's look at how to customize the colors and how you can select what levels to plot. So of course a lot of users might not want to see all the levels, or they might want to customize the color. So in order to do that, we can scroll down to our bottom section of the indicator and first thing first, you can manage the single lines that appear right here. So if you wanted to, for example, change the color, offer one the minimum and a one the maximum, you can do it here. If you wanted to untick some of these levels, you can also do it here.

[00:06:27.08] - Speaker 1
And basically they will disappear from the chart. As there are a lot of levels, this can be time consuming. So that's why we built our group level color section. So the first thing you can do is you can click on this box and we are going to plot all the levels and we are allowing you to have a single color setting. This was one of the big requests from our user, where we want to have the color all in one, or we want to have the levels all in one color.

[00:06:55.29] - Speaker 1
You can do that and you can also select the type of labels that you want. If you want a dashed line, you can also choose that. On top of that, we can have all our levels plotted or we can break it down by groups. So the first one is our primary levels where we are plotting our core resistance put support, our Gamma Wall, our 1D max, 1D minimum, and they will be plotted there. Again, you can change the color and you can change the style.

[00:07:31.13] - Speaker 1
Very, very easy. And that will only plot your primary levels. If you want to plot also some other JAX levels, we broken down the Jax levels by Jax 1 to 5 and Jax 6 to 10. So if you wanted only the top JAX levels, you can click on Jax 1 to 5 right there. And again you can customize the color and the style.

[00:07:58.11] - Speaker 1
If you also wanted to have all the JAX levels, then you can also add JAX6 to 10 and you can also customize it and they will appear different on the chart. By doing that now you have basically all the different levels color coded as you selected. And if you wanted to remove some of them, you can either come and remove the single grouping. So let's say that I want to remove my jacks levels, or if you wanted to do it by one by one, just untick everything and just select the levels that you don't want to plot or that you want to plot. And you can customize the color however you please.

[00:08:39.05] - Speaker 1
Next we're going to look at the roadmap feature. So first of all, let's just plot our primary levels and our JAX level 1 to 5. And basically now we can come up to our training roadmap. So what is the training roadmap? The training roadmap is essentially a tool that allows you to draw areas with within the chart based on gamma levels.

[00:09:03.01] - Speaker 1
And this will allow you to define your trading plan much easier. So by looking at the levels, typically as a futures trader or as a stock trader, you want to define areas in the chart where you want to be in the market or out of the market. So by doing that, we could actually draw some areas right there. For example, I want to to plot these levels here and then maybe I also want to draw my area around here and maybe I want to draw a smaller area right there and maybe a smaller area between Jacks 1 and Jax 3. So essentially by drawing this, this roadmap, we can define areas in the chart where we probably want to be out of the market or where we want to look for a breakout, or where we want to be in the market right there.

[00:09:57.28] - Speaker 1
We are doing this manually, so obviously this could be time consuming. So if we remove the indicator, this is how your chart would look like. Right, so we've done that. But what if you wanted to do that automatically? So just remove all the drawings.

[00:10:11.18] - Speaker 1
Let's go back to our indicator and let's just go into our trading roadmap. So to enable the roadmap, simply click on Create Roadmap and as you can see, it's automatically plotted. So the indicator automatically plots the areas. You can also choose the color that you want to use for the roadmap. And basically you can also look at the transparency.

[00:10:41.13] - Speaker 1
And very important is the ratio. So the ratio is really how close you want the boxes to be and how wide you want the boxes to be. So the smaller the ratio, the more boxes you're going to draw, because we're going to look at levels that are closely connected, as once you start increasing the roadmap, you will see that basically more levels will be taken into account. So the ratio basically depends on how wide the boxes you want to have. And basically you can customize that.

[00:11:14.00] - Speaker 1
Typically we can use, depending on the asset, a ratio of 3 and 4. But really, again, it's very, very customizable you can change it and you can basically define your areas based on your setup. Within the roadmap section you can also hide the levels. If you wanted to, for example, create a chart without the levels, you can also do that. And this will basically just draw the different areas that we saw before.

[00:11:39.22] - Speaker 1
But if you want to plot the levels back, then you can show the levels and then click ok. So next is let's look at how to convert levels from one asset to the other one. So within the indicator you have the level conversion settings right here and you can enable it or disable it and that allows you to convert levels from one asset to the other one. So we want to convert e.g. sPX levels to ES.

[00:12:08.05] - Speaker 1
This is a very, very common request from our users. We could also want to convert Nvidia levels to NQ or any of the max 7 levels to NQ or QQQ levels to EnQ. This is another very typical. But you could actually really do any types of conversion. It can be very, very flexible.

[00:12:27.21] - Speaker 1
So let's say that you wanted to convert Bitcoin level. So we want to use our Bitcoin ETF IBIT and we could convert that to BTC USD. We can do that as well. In order to convert you would need to use a ratio or a spread and you could use an auto ratio which is automatically calculated for you. Or you could use a manual ratio where you would need to manually input the value.

[00:12:57.11] - Speaker 1
So if we look at auto ratio and we click ok now we can go on our ES chart and we will be able to see based on the levels that we selected here we see our SPX level. You will see them in brackets with the ticker or our ES level which are the ones without brackets. So within the indicator we can also customize which level we want to show. So we could see, we could tell the indicator just, we want to just show the converted levels. So in this case we would only see the SPX levels or if we want to see all of them, we can customize it and just untick that.

[00:13:38.28] - Speaker 1
Let's go back and let's look at our Bitcoin chart and we can see how we are now converting our IBAT levels to Bitcoin. So very, very simple. If you want to learn on how to do the level conversion and how to use the ratios or spread correctly, we have some tutorial videos available in a different section and we can also go to our guides come down all the way to integration, click on level conversion and then now click on the Mentor queue Level conversion and you will have access to the document that will explain exactly how the conversion works, all the formulas behind it, the typical conversion that are used by our users, and also some tutorial videos that will allow you to understand how to do the conversion. Now let's look at the Intraday indicator. So we're going to hide our end of day indicator and we're going to show our intraday.

[00:14:33.16] - Speaker 1
So the intraday automatically updates as well, so we can have access to all our snapshots multiple times per day. Very, very important. You can look at the timestamp all the way at the top right there so you can see the latest updates. If you don't see the levels updated, you can simply remove the indicator and then add it back. You would need to do that as we don't have an API connection with TradingView.

[00:15:02.28] - Speaker 1
So because of the platform limitation, TradingView does not have an API. So you would need to either refresh the indicator by coming here and you will see a refresh button here. You would also see an icon, a blue icon that will appear at the top there. Or you would simply need to remove and add the indicator back. And then of course, confirm.

[00:15:24.07] - Speaker 1
Confirm the different timestamp at the top here. This will show you the time of updates and the level updates within the timestamp. If we look at the settings, you will see that the end of the indicator and the intraday indicator have exactly the same features. So all the different customization settings are the same. So you can use it, you can use the level conversion and in exactly the same way.

[00:15:49.06] - Speaker 1
Why is this important? Because given we have intraday levels for indices, ETFs and futures, you could have an end of the indicator for futures and an intraday indicator converted so that you could actually benefit with the intraday levels also on the future asset that you trade. Now let's look at when the levels update. So come back to our guides and scroll all the way up under products and then Intraday Gamma models. And then by looking at the Intraday gamma models, you can actually come here and see the different snapshot.

[00:16:24.26] - Speaker 1
So we have 14/ snapshot throughout the day starting at 8am all the way to the end of the day. So here you can see where the level updates and those will be the same that you will see at the top here. We get also a lot of questions from our users saying that the levels has not updated. So we want to also run through some really quick troubleshooting settings that you can use if you don't see the last updated levels. So again as we mentioned we update the levels on the backend for you so you don't have to manually upload the levels.

[00:17:03.04] - Speaker 1
TradingView does not have an API feature so there's no option to send the levels via an external API. So in order to get the levels updated you would need to come to the indicator, add the indicator and of course this will show up throughout the day. Within the intraday the levels will update and what you will see is you will see a blue pop up icon right here and you can click on that and update the indicator. If you don't see the icon you can also click on the three dots and you'd be able to see update indicator here. Or if not if the indicator hasn't updated simply remove the indicator and add it back to be able to see the correct levels.

[00:17:45.27] - Speaker 1
If the levels don't pop up again just simply refresh the window and this will most likely fix the issue that you're seeing. And again always confirm with the timestamp right there. If you still don't see the level, simply log out and log back into your TradingView account and that should fix it. But for any question our team is ready to support you SA.