Top 3 Technical Analysis Indicators For 0DTE Options

[@smbcapital]

Indicator Formulas: twitter.com/GarrettDrinon/status/1751286967172550678 Learn how to trade options (free workshop) tinyurl.com/4s2tnj5x

[@cubbie8330]

Thank you Seth and Garrett for sharing this information for those of us who really see the value in options trading. I was wondering if these four modules would be made part of the SMB OPTIONS program that I'm already been a part of.

[@Herobrine-Jr]

Excellent

[@arunmanoharan]

This is by far the most enlightening video I have seen on 0TE. Thank you !

[@bradleygibson9686]

The only You Tube trading instructional I watch is SMB Capital. These guys are the real deal, no fluff. I would love to see the algo's. ONE GOOD TRADE!

[@amitbuch]

Superb free learning that does not hide vital information. I love SMB Trading videos. Kudos to the experts there.

[@Westcoastnw]

Garrett is a great teacher/communicator! Good stuff!

[@leon21th64]

Thanks Seth and Garret. Among millions of you tube videos, it is very rare to see any one else talking about the execution skill like they are demonstrated in this video. Probably because most people make so call educational trading videos but they themselves can't even make a winning trade.

[@garrettdrinon]

you’re welcome. glad you enjoyed!

[@sethfreudberg4750]

@leon the greatest traders become better and better at execution. It's a skill that takes a while to master and you truly never "master" it, you just get better and better at it over time in a process of continuous improvement

[@HarryLewinASR]

This is the clearest presentation of this difficult topic that I have yet encountered. I'll get back to you after backtesting but I am optimistic. Seth & Garrett make a good team.

[@garrettdrinon]

thanks! good luck

[@sethfreudberg4750]

Thanks Harry!

[@sankethsrimandumula6270]

Hi, did you back test these ?

[@mr.splackavellie2184]

It's crazy, I just started back testing this strat on indices a month ago and love it

[@ashetkikani8924]

I see most of your videos and love it. This is by far the best video as it goes into great details. Can you post how we get the $VOLD Ration on TOS?

[@stedocli6387]

This is better than saturday morning cartoons! Thanks for sharing!

[@garrettdrinon]

you’re welcome!

[@sethfreudberg4750]

lol @Stedocli6387

[@jonahware5396]

Spongebob or pokemon on a Saturday morning in the early 2000s was a hit though!

[@jackjack8390]

Seth & Garret: Thank you for putting this together. Great stuff!

[@sethfreudberg4750]

@Jackjack this is just part 1. We've got four of these lined up to shoot!

[@Maximka1100]

Great video gentleman. Could you suggest how to add all what you just spoke about on TOS platform? How to add TICK, VOLD to the screen? Thank.

[@georgetowers4401]

It's amazing to find such valuable information for free.

[@1bdollars-x5m]

Hi, very interesting. I have problems understanding how you put it in TOS. Could you make a video or guide on how you setup the indicators on TOS?

[@sethfreudberg4750]

I'll discuss it that with Garrett @user-uv

[@stedocli6387]

2 of them is already on TOS $ADD and $TICK, the VOLD you might need to use chatgpt to set it up how Garrett did

[@majimusic]

@@sethfreudberg4750 that would be helpful.

[@brianholden1641]

@@sethfreudberg4750 I have found this script online. I would imagine you could at it on think script.. def upDaysVolume = Sum(If(close > close[1], volume, 0), 50); def downDaysVolume = Sum(If(close < close[1], volume, 0), 50); def upDownRatio = upDaysVolume / downDaysVolume; AddLabel(yes, Concat("Up/Down Ratio: ", upDownRatio), if upDownRatio > 1 then Color.GREEN else Color.RED);

[@mants2368]

This is such great info on which indicators to look. Thank you so much for sharing. Others have no idea on 0DTE.

[@NOBOCON1]

Is there a TOS script for these indicators?

[@garrettdrinon]

i posted on my twitter feed @GarrettDrinon

[@Jaesais]

If there isn’t, it can be made. Watching the video now to see when they cut to the chase so we can get some ToS codes made. 🫡

[@ShubhamSingh-tr7mm]

Namaste SMB, Thanks for this video in advance. Never miss a single jam-packed videos from your guys.

[@RacerDC1]

Excellent Video. Thanks to Seth & Garrett. Quick question -- in the video, you used the ticker $ADQD (NASDAQ Advancing Issues - Declining Issues Difference) to plot the ADline for the Qs. What is the proper ticker for the S&P? Is it $ADSPD or $ADSPDC? Or something else entirely? Thanks so much. You guys are a treasure trove of know-hows.

[@garrettdrinon]

in TOS it is $ADD but it’s different for each platform

[@davidnaar6689]

SMB, Market Wizards Series and Ben Graham. Solid Wisdom. These indicators are awesome! Thank you.

[@garrettdrinon]

You're welcome!

[@sethfreudberg4750]

Thanks David

[@annawang4541]

this video was absolutely fantastic- enjoyed it thoroughly, very clear explanation and I definitely will incorporate this into my trading strategy. Thanks to both of you for creating this!!

[@yoginacharya2150]

Great advice from the experts. Garett particularly is expert in everything stocks - options, technical analysis, shorting, longing and what not!👏🙏

[@kevinkachaturian]

Can you post the thinkscript code for your VOLD study? Thank you for all the incredible information

[@brianholden1641]

def upDaysVolume = Sum(If(close > close[1], volume, 0), 50); def downDaysVolume = Sum(If(close < close[1], volume, 0), 50); def upDownRatio = upDaysVolume / downDaysVolume; AddLabel(yes, Concat("Up/Down Ratio: ", upDownRatio), if upDownRatio > 1 then Color.GREEN else Color.RED);

[@benv.5170]

What can you do with this code?

[@CG-yf4qi]

@@benv.5170. Paste it in TradingView pine script editor

[@richhands5269]

My three favorite channels: SMB Capital, Stock Brotha, & How Money Works. Make my week complete! 🔥 🔥 🔥

[@sethfreudberg4750]

Keep watching and learning @Rrichhands!

[@BillyJ10]

Trade Brigade & Wysetrades

[@kuldeepsingh_350]

This comment available on almost all videos

[@ocur459]

Ikr 😂​@@kuldeepsingh_350

[@noelv2743]

Your cheese

[@youknowme58]

Love your videos. Thank you Mike, Seth, Garrett, & the SMB U team. Looking forward to next week's ETF educational video.

[@BillyJ10]

Absolutely one of your best, most useful videos. Looking forward to watching the rest of the series.

[@sethfreudberg4750]

We working on number two right now @Billyj

[@myselfiemirror]

Thanks for the video.. Is there a way to display VOLD ratio in tradingview?

[@wingandaprayer72]

Im curious also. will look into it when i get home. any help would be appreciated

[@anthonymaher4686]

@@wingandaprayer72 Have a look at Trading View Indicators and Search under VOLD - a lot of member scripts come up - I use the Market Breadth Ratio - it shows for the NQ and NYSE

[@coachcleats13]

This was very helpful as I just started using these same indicators recently and needed a good up to date understanding of how to use them. I trade 0DTE on the SPX

[@majimusic]

I really appreciate the content to make us stronger traders. I certainly have learned much to help me with my trading from technical, psycholigical, to strategy. All of it so helpful.

[@eddiejimenez9299]

Excellent video - thank you SMB Capital

[@stonedog1000]

The best trading video ever!

[@smbcapital]

🙏

[@michaelwelch103]

Thx for the video, the trade examples are buy and hold the option through the close. Many of us prefer to trade the intraday reversal patten. Can the next video demonstrate how these indicators can be used for that trading style?

[@lj_bizz5]

Great video, thank you. Please, if you could help out on setting up the charts on TOS. Thank you in advance for your time.

[@d3ath1ygaming55]

Thanks for sharing, couple questions: Do you folks have some back testing to show win rate and p/l buying at various points during the day at the 30 delta? IE Do you guys have "proof" that this setup actually has edge? What about theta decay when buying 0 dte options? 0dte will NOT hold extrinsic value...

[@DeboBrowne]

Great video breaking down each of those indicators...

[@fredysargo]

Great video !! Thanks for sharing the knowledge. I am sorry, it it has been posted already, but where can I find the Tick Indicator? Thanks in advance

[@JAH-0-]

Excellent content as usual.. do you have 2nd best Delta entry point?

[@MariaPNW]

More options videos like this, please! Many of us retail traders have such small accounts that we (I) can't afford the "crouching tiger, hidden dragon" strategies you normally share (no matter how consistent they are)! We need help building our XS or S accounts more aggressively because not everyone has an IRA or inheritance $ that we're trading with.

[@JaymesonAnderson]

Great video, gentleman! Thanks again for your time, expertise, and dedication to helping your audience become more successful in their trading. Looking forward to part 2!

[@garrettdrinon]

thank you and you’re welcome!

[@kimsworld9912]

cant find the same TICK and Advance decline line on trading view... can you post the links or under which names those are under on TV. Thanks

[@YodaWannabEE]

I would also like this. I don’t use TOS so I really want it on TradingView

[@carllundgren9754]

Great video, I'm going to share it on X. One question though (I'm not that tech savy) how do i set up the $VOLD indicator like you have it? Also can i do it on tradingview? Thanks 👍

[@brianholden1641]

First time listening to your channel. What a perfect video to be introduced on. I'm very new on my trading journey but this seems to be a great way to start to filter stocks to start charting and to hopefully engage in higher probability trades

[@sethfreudberg4750]

@Brianholden1641: Keep watching and learning!

[@Trollberg]

Thanks for clear explanation I never knew how to interpret market internals

[@jaimemint405]

are the 0dte indicators useful for futures and thx for always providing useful informations.

[@garrettdrinon]

yes

[@joec1545]

Another awesome and extremely useful video. Thanks guys, my favorite market related videos hands down:)

[@garrettdrinon]

thank you. glad you enjoyed!

[@subsonicflighttraining]

Great video guys! I look at all of these as you do along with $DXY and $PCALL. Why is D30 the sweet spot, like why not D70 or higher if you are buying options. I do 0DTE selling credit spreads, do you have traders that do that?

[@sethfreudberg4750]

@subsonicflighttraining many of our traders use credit spreads and embed credit spreads within their larger strategies myself included

[@cpbroderick]

I created this TOS Study for VOLD. Set up for Nasdaq. Has input boxes to change. declare lower; input price1 = FundamentalType.CLOSE; input price2 = FundamentalType.CLOSE; input symbol1 = "$UVOL/Q"; input symbol2 = "$DVOL/Q"; plot Ratio = if Fundamental(price1, symbol1) >= Fundamental(price2, symbol2) then Fundamental(price1, symbol1) / Fundamental(price2, symbol2) else -( Fundamental(price2, symbol2) / Fundamental(price1, symbol1)); Ratio.SetPaintingStrategy(PaintingStrategy.HISTOGRAM); Ratio.DefineColor("Up", Color.UPTICK); Ratio.DefineColor("Down", Color.DOWNTICK); Ratio.AssignValueColor(if Fundamental(price1, symbol1) >= Fundamental(price2, symbol2) then Ratio.Color("Up") else Ratio.Color("Down"));

[@maryyu4010]

Wow, thanks for sharing this script!

[@finwest]

Thanks very much! Nice to have a single script with option for various inputs.

[@sheilanfc]

useful content! thankyou i am still learning in the Nusantara fx community class

[@timothychristians657]

Great video, just finished all three, they tie together so beautifully. However I am having a bitch of a time making my VOLD and other indicators look like yours on TOS. Any suggestions would be greatly appreciated

[@vincentjean6756]

Great video Seth and Garrett, good job.

[@ez2imajn]

Great video ! Are these indicators available on TD think think or swim?

[@Yieldmax4Life]

Why do you hold until the close? I would take profit but I’m a novice trader so my question is helpful to others I’m sure. Do you want to risk assignment?

[@vishalnangare31]

Thanks Mike and SMB Cap team 🙏🙏.

[@producerqa1648]

Great Video! Couldn't implement the VOLD RATION or the ADL or the Tick on trading view/ IBKR, can you possibly show the process in the second part?

[@briangarrett6100]

Following! I have VOLD indicator on tradiingview but I think it looks a little different then Garretts

[@mikemalone8923]

Following as well

[@omidnaghani3704]

Every think looks different then Garrett video

[@annawang4541]

yup, facing the same issue

[@thegamerboneless2864]

I don’t like these 0DTEs I prefer having time, but the last month or so they have preformed wonderful, especially last couple hours of the day.

[@garrettdrinon]

I agree mist of the time... I don't ALWAYS trade them. Only in special situations.

[@sethfreudberg4750]

@thegamer we have a guy on our desk working hard on 0 DTE trades at various time frames throughout the day.

[@market-mamas]

You guys always do such a nice job presenting killer topics with helpful examples. Thanks for putting out this content for us! 🙌🏼🔥✨🙏🏽

[@sethfreudberg4750]

Keep watching and learning @market-mamas!

[@banzai.renaissance]

OMFG you guys are leagues above everyone else. I've watched hundreds of your videos and am a better man for it. HUNDREDS. Piles of notes. Now..... TOS user here ... 1) PLEASE help us plot the VOLD data pieces. Please. Pretty please. 2) Been using $TICK for a while, both on 1min and per-tick timelines with an SMA overlayed. Kinda shows me "area under the curve" in an absolute value sense (+ or -), but would love to know HOW to histogram the cumulative as you did. Brilliant. 3) Been using $ADSPD for opening SPX butterflies, to spot anchors and undercurrents. I also use 2 hrs into the day as my decision point. So helpful to ENJOY head-fakes in price action, center dynamically, get my 10-15% and go home without getting my feelings hurt. Is there a way to monitor VOLD and TICKs purely for SPX? Would you if you could, or is that splitting hairs? 4) Is SPX price action a consequence of SPY? Vice-versa? Or independent? Hugs around, Adam

[@speakingmia7298]

Thanks for offering these lessons! But I can't find VOLD on any stock chart a non-professional investor uses. Could anyone share on which platform I can find it?

[@johnpejnovich7722]

speakingmia, same here can't find it on any of the trading sites that I use.

[@Westcoastnw]

Smb……You guys are awesome ! Thanks !

[@DavidtheNorseman]

So to clarify rather then buying or selling to close you just let the 0DTE options expire?

[@kevinmackay5025]

The advance decline line on my TOS shows different. How can I see it like I'm seeing on this video? Please help, thank you.

[@tonysoprano1454]

What platform are you guys using to find the VOLD histogram or Advance Decline Lins

[@andreassmidelov]

I tried reproducing the VOLD Ratio in a TOS script. I think the slide was missing a minus sign, here's my attempt at the script which seems close enough. It's my first time writing a TOS script though. Feel free to copy paste and/or correct it :) def uvol = close("$uvol"); def dvol = close("$dvol"); def ratio; if uvol > dvol { ratio = uvol/dvol; } else { ratio = -(dvol/uvol); } plot Data = ratio;

[@andrewferguson1291]

Thanks for this video. I’m really wanting to get the VOLD ratio but I don’t see it in interactive brokers. Could there be a different name for it? I also looked for UVOL and DVOL and those aren’t there either.

[@eddiejimenez9299]

Thank you SMB Cap and Garret

[@supanova4126]

One thing to be aware on VOLD is that it’s based on prior day close. So, massive gaps can skew the next days VOLD.

[@garrettdrinon]

great point - we’ll cover that and the breadth divergence and breadth reversion in the third part of the series -> part of how we read it is knowing what to expect out of the breadth based on what the market is doing

[@globalcreativecitizen8659]

Hi Garrett, one issue. I am trading in Indian Market (NSE). I am not able to find these market internals for specific indian indices. Can you please help with this or suggest any alternatives? Thanks in advance.

[@johnbeals8146]

Hi and great series... Quick question though, I use ToS but I'm not familiar with setting up the code for your $VOLD Histogram variation and I don't see the Cumulative Tick selection either? Any chance you could do a quick video on getting them established on ToS charts? Thank you.

[@Dieselpower24]

Thanks guys.

[@andresm.m1015]

I see you said on a trend day that there is a lot of ticks around 1000 or 1200 but what if the market is running up trending but the ticks are kind of neutral or not ticking as high as you would expect them too? for example I have seen when they don't even rise that high, but the market is just rising steadily showing strength .

[@ricomajestic]

Good video on market internals!

[@garrettdrinon]

thank you, glad you enjoyed

[@artbal2486]

hello. I can not find cumulative tick on TOS and Tradingview. Do you have Guys yout own script for it? Thank you in advance

[@garrettdrinon]

i will post code to my twitter feed tomorrow @GarrettDrinon

[@washboardjim]

Does the Tick have another4 reference name using TOS think or swim or is it just a candlestick pattern

[@williamp2359]

You probably should invest some in a continuity editor. If you look at the video around the 39:28 mark, you see that the same skyline is behind both presenters, but is clear behind Seth and foggy behind Garret. Obviously the 2 were recorded on different days and stitched together to make it appear that they were interacting. Interesting concept nonetheless.

[@genoropesa9896]

I like combo studies on how market behave....yes a clue😳

[@tradersnipers8183]

My question is , you buy a call, if call not in money by expiration, then value is 0; if the long call in the money, you let it expire in the money, then system can automatically calculate the credit for my trading account and credit me next day? Won’t get margin call since broker asked me to buy 100 shares of that index?

[@roncoleman8034]

Earlier today I believe that the DVOL was about 60,000 and UVOL was over or about 240,000... giving it a ratio of 4-1 to the downside and the ADD was a holding a constant -1500/-1600...even the TICK was a constant negative. I experimented, with only 1 contact of SPX shorting a call out of the money thinking that the market would go down....since the indicators were expressing that. As soon, as I realized a trend up breaking a daily high, I got out of the trade with a very little loss. Am I missing something? With all the negative indicators mentioned above how could the market keep going up?

[@helmutwilhelm8918]

Is it me or did Seth actually crack a smile in this vid?😁

[@JohnSmith-ez9dx]

Amazing video. Im so close to this type of trading as well...

[@garrettdrinon]

awesome

[@armen6898]

Hi there, in which platform do you use that internals? Do you know in IBKR these tools are available?

[@khalidahmad1231]

I started 0DTE option after watching your videos using Robinhood. In last three days my observation is that RH policy to auto exercise at 3:30 pm on expiration day is very expensive and costing somewhere around 20-30% of the earned premium. For example, today auto exercise cost $ 0.088 on a premium of $0.27. Yesterday it costed $0.04 on a premium of $0.23. Is there another platform which does not auto exercise the 0DTE or has less charges?

[@BoxerDogs]

On some of your charts, you used 15 minute charts. On others you used 5 minute charts. When you are looking at these internals, does this mean you can use any time frame? Which one should you use?

[@sunshineandhappiness6014]

This is so helpful! ❤ thank you!

[@garrettdrinon]

you’re welcome!

[@sethfreudberg4750]

Thanks @sunshineandhappiness6014

[@Normancito860]

Great tools. Thanks for sharing

[@yasirali709]

Thanks for sharing

[@smbcapital]

You bet!

[@baogiangtran1647]

What should be the reasonable stop loss in terms of percentage if you just buy a 30-delta option? I want to make sure that but also let the trade play out and cut loss quick as well. Thanks

[@sethfreudberg4750]

@Baogiangfran, that's a complex topic because you have to decide if the stop is based on technical price action or other technical behavior, or whether it's based on options pricing. There is no one answer to your question.

[@debbachemohamed1026]

Really awesome in-depth insights, the case of trending days (up or down) is undesrtood by exploiting the VOLD, ADD and TICK/cumulTick, now in a ranging, is the iron condor the way to trade ?

[@anshul8123]

Can you please post the thinkscript for your VOLD study for ThinkorSwim?

[@garrettdrinon]

all posted on my X feed @GarrettDrinon

[@davidlimtien8900]

Hi @smbcapital / Garret, can you apply these for 0DTE for the options on /NQ or /ES?

[@garrettdrinon]

yes the indicators are of the exchanges NYSE NASD so all instruments work based on that

[@michaelwilland7036]

What are your thoughts on the $ADQD? I find it a greater indicator with the SPX, QQQ, and so on. As seen on today, Monday, 2024.01.29

[@peiheng]

interesting clip, I finally know what difference between me and the professional trader.

[@timreynolds2264]

Can you do a thinkorswim set up with these trends and using an atr entry and trailing stop loss?

[@tekst3r]

whoa! garrett looks so different. like a punk rock superstar!😁

[@sethfreudberg4750]

@tekst3r: Garrett is the "Indicator Whisperer"

[@Tha.Black.Profit]

I would like to see these indicators being used live.

[@philippebackprotips]

Sometimes breadth pretty green and futures still tanking to the bottom... Keeping track of it though.

[@garrettdrinon]

absolutely -- watch the action in the ADD line, does it tank? - not all extreme opens hold, so when they do, and when the ADD pins, that stands out. It's not a binary thing where you just look at the breadth and say it's green so we must trade higher from here. It's why we watch the action in the ADD and TICK as well as what offensive sectors are doing (which we will cover in the next video).

[@bohlmandan]

If all three of these indicators hover around the zero line or have a consistent period of consolidation, I’m assuming we could do a butterfly?

[@pieterh7209]

Thank you for this video - I have to say that last Friday 2 Feb, I lost a lot of money following your advice on how to use these indicators. The entire day, SPX VOLD was close to negative 1 over 3, ADD was 2200 down over appr 500 up and TICK was mostly negative. A typical day for a down trend, however the SPX went up close to 70 points that day, the exact OPPOSITE from what you adviced. Any clue to what happened here????😂

[@hermanvanniekerk2046]

It's called ignorance

[@danle746]

What time frame are you using for your charts to determine? I’m assuming the lower time frames

[@lbm3845]

Do you let those options expire at the end of the day or close them right before the close? Thanks

[@rajshreebabu6698]

Nice video. Can you provide us the list of all trend days from 2022 and 2023 year for us to go back and watch the tape? I searched the google and I couldn’t find this data readily available.

[@zulfiqar5778]

Hey there, I have been trading for about 6 months now and just about every trade slaps me in my face. Nearly impossible for me to catch more than a few points . I try to do top down analysis and MTF analysis, but it doesn't work for me . I say to myself, clearly I'm in the 90% that lose money, so I open a demo account, do my analysis, then take the opposite of what I would normally take(I know, it sounds stupid but I was desperate) and get the same result. I'm starting to feel hopeless, any advice for a struggling trader?

[@festusleo1067]

Your problem could be that your stop loss is way too close or you're watching your trades too much. Place it and walk away. Or you could just give up, trading isn't for everyone.

[@alexajohn5088]

Don't let them discourage you, don't give up. Trading takes years to master, even the pros learn everday. Never the less, if you lose money no matter which side you take, maybe you need to look at how you are managing active trades rather than how you are entering them, moving stops to BE may help. My advice, find a mentor . And also, try incorporating the use of oscillators or rsi into your strategy to make your entries better and prevent overtrading. And most importantly move to higher TFs(4h or 1D preferably), you'll thank me later .

[@zulfiqar5778]

You're right, I don't lose money every single trade, but my main problem is trying to let my runners run. Very rarely do I catch big moves . Instead they go a few pips in my direction, then go against me if when I try holding them. Also my entries could use a lot of improvement. A mentor would be amazing, but getting one is easier said than done. If it's not too much, does any come to mind?

[@alexajohn5088]

I think the most important thing you should know is staying away from the lower TF. Also, it's important to keep an eye on the environment too, ie DXY if it isn't doing too well or is a bit choppy, chances are dollar denominated pairs are in for a ride too. In this case, it's probably better to get in and out of your positions quicker.

[@alexajohn5088]

Also, I understand how tough it is to find a mentor because most institutional traders do not take retail traders seriously. The best advise is to get a mentor who has a PAMM account so they trade for you while you learn.