Friendly reminder: I created my Gamma Profile in response to Barchart trolling AMC.
This indicator spreads each bar's volume evenly across its price range to calculate intensity at different price levels. It then normalizes that intensity over a user-defined lookback period and highlights the strongest concentration zones with colored clouds and horizontal edge lines.
When multiple instances are added with Fibonacci lookback periods (e.g., 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987), the overlapping high-intensity zones create a layered "ladder" of volume nodes that act as dynamic support and resistance.
How to Use It:
Add 5–8 copies of the study to your chart.
Set each instance to a different Fibonacci lookback number (starting from shorter to longer).
Focus on confluence zones where clouds from multiple lookbacks overlap or sit very close — these act as the highest-probability support/resistance levels.
Bullish clouds (green) near price = potential support / long setups on bounces.
Bearish clouds (red) near price = potential resistance / short setups on rejections.
Possible Entry on candle rejections or momentum flips at strong confluence zones.
Use shorter Fib lookbacks (8–55) for intraday scalps and longer ones (233 ) for swing anchors.
Targets: Next confluence cloud in the direction of the trade.
Stops: Just beyond the opposite edge of the confluence cloud.
It functions as a retail-friendly proxy for gamma exposure levels and longer-term Bookmap-style volume heat zones, without needing options data or expensive order-flow tools. This idea is something I thought about making for a long while, and I really think it has value. I'm no guru or expert, but try it out for yourself.
The code is in ThinkScript, but you could easily convert it to something like PineScript.
The ToS link is below. If you want the raw code feel free to DM me.