How to use SPX Wave
Set up the four indicators, learn what each mark means, and fit them into a 0DTE trading day.
1. Set up your chart
- Request access
Open the SPX Wave script page on TradingView and request access with your TradingView username. You'll get a notification when access is granted.
- Open an SPX chart
Use the S&P 500 index on an intraday chart. The indicators work on any intraday timeframe. The 3-minute chart is a good starting point.
- Add the four indicators
Click Indicators, open the Invite-only scripts tab and add SPXWave Push, SPXWave Quick Turn, SPXWave Gauges and SPXWave Momentum Wave. Showing all four at once needs a TradingView Essential plan or higher.
- Arrange and save
Push and Quick Turn sit on the price chart, Gauges is a panel in a corner, and Momentum Wave opens in its own pane below. Save your layout so it loads the same way every day.
No extra market data subscriptions are needed. Every indicator follows your chart's light or dark theme automatically.
2. SPXWave Push: spots the push
Push prints a triangle when buyers or sellers start pushing price, and stays quiet in choppy markets.
A push is starting: green below the candle for buying, red above it for selling.
Momentum is already stretched in that direction. The move may be late, so be careful.
- Signals are confirmed on closed candles and don't repaint.
- The arrows land in the same places on any intraday timeframe.
- No targets or stops are drawn. You choose your own exits.
3. SPXWave Quick Turn: flags the turn
Quick Turn puts a small dot on the chart when momentum turns sharply. It's a heads-up, not an entry signal on its own.
Momentum is turning up.
Momentum is turning down.
A dot on its own is a heads-up, not an entry signal. In our testing, turns where the next 2 candles kept closing in the dot's direction held up better than the dot alone.
The Sensitivity setting controls how many dots appear: Very loose shows the most, Strict the fewest.
4. SPXWave Gauges: sizes the next move
A panel with two readings that update through the day.
Direction (0 to 100)
Where the market stands right now, from bearish (0) to bullish (100). It describes the current state; it doesn't predict the next move. Readings below 20 or above 80 are stretched.
Move Risk (next ~25 minutes)
How big a move to expect, not which way:
- LOW typical move about 7 points
- MEDIUM typical move about 9 points
- HIGH typical move about 14 points
Use it to judge how much room a position may need. On Fed days (FOMC decisions, minutes, Fed chair speeches) turn on the Fed day setting, because Move Risk isn't reliable then.
5. SPXWave Momentum Wave: shows the strength
A wave in its own pane, from 0 to 100, showing whether momentum is building or fading.
- The wave turns green when momentum is improving and red when it's weakening. The live number and arrow sit just past its tip.
- Stretched zones: above 80 or below 20, the move is already extended.
- White signal line: a smoothed copy of the wave. The wave crossing it confirms a turn.
- Turn arrows: ▲ and ▼ next to the wave mark where it turns, an early sign.
- Bars around the 50 line: green bars when momentum is rising, red bars when it's falling. Bright bars are growing, faded bars are shrinking. Tall bars mean a big push.
The wave follows your chart's timeframe: faster on shorter timeframes, smoother on longer ones. Everything can be turned on or off in settings.
6. Using them together
- Gauges: read the day
After the open settles, check Direction and Move Risk to know where the market stands and how big the next move could be.
- Momentum Wave: check the strength
Is momentum building, fading, or already stretched above 80 or below 20?
- Push: is a move starting?
A solid triangle is the main signal. A hollow one says momentum is already stretched, so be careful.
- Quick Turn: an extra heads-up
A dot is an early warning that momentum is turning. It's not an entry signal on its own.
7. A trading day with SPX Wave
One way to fit the indicators into a 0DTE session. Times are Eastern.
Push and Quick Turn wait for the first 30 minutes. Watch how the day starts.
Check Gauges for direction and Move Risk.
When Push prints, check the Momentum Wave and Move Risk before you decide.
0DTE options move fast near expiration. Have your exit plan before you enter.
8. Common mistakes
- Trading the open. Let the first 15 to 30 minutes settle.
- Treating every mark as an entry. Quick Turn dots and wave arrows are heads-ups, not trades on their own.
- Ignoring hollow triangles. They mean momentum is already stretched.
- Forgetting the Fed day setting on FOMC days.
- Holding to expiration without a plan.
9. Troubleshooting
I can't find the indicators
Check that your access request was approved, then look under Indicators › Invite-only scripts. Access is tied to the TradingView username you gave.
I can only add 2 of the 4
The free TradingView plan allows 2 indicators per chart. Showing all 4 needs Essential or higher.
Nothing shows up
Use an intraday SPX chart during the US cash session, 9:30 to 4:00 ET. Outside it, the indicators show "Market closed" or nothing. They don't run on daily or weekly charts.
A line is hard to see
The indicators follow your chart's theme. If you use custom colors, change the line color in the indicator's Style settings.
SPX Wave is an educational tool, not financial advice. Read the Risk Disclaimer.