Options Pivot Smile

## Options Pivot Smile

**Options Pivot Smile** is a visual market-structure indicator that transforms classic daily pivot levels into a smooth, bell-shaped “smile curve.” It is designed to help traders understand price equilibrium, directional bias, and volatility expansion using historically anchored support and resistance zones.

The script is optimized for discretionary analysis, options structure mapping, and futures market context.

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### Core Concept

This indicator calculates **previous-day Pivot, S1, S2, R1, and R2** levels and projects them backward across configurable historical widths. These anchor points are then connected using a **Catmull–Rom spline**, producing a smooth bell-shaped curve that represents market balance and skew.

The result is a **visual distribution of price pressure**, rather than static horizontal levels.

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### Key Features

#### 1. Daily Pivot-Based Levels

* Uses **previous daily High, Low, Close**
* Calculates:

* Pivot (P)
* Support: S1, S2
* Resistance: R1, R2
* Optional **pivot shift** for futures or synthetic instruments
* Optional **spread rounding** for options strike alignment

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#### 2. Historical Anchor Projection

Each level is placed at a different historical distance:

* **R2 / S2** → farthest back
* **R1 / S1** → medium range
* **Pivot** → nearest anchor

This spacing creates the structural foundation for the bell curve.

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#### 3. Smile / Bell Curve Visualization

* Smooth curve generated using **Catmull–Rom spline interpolation**
* Adjustable smoothness (number of curve segments)
* Customizable color and line width
* Represents equilibrium, skew, and volatility structure

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#### 4. Structural Aids

Optional visual components include:

* Horizontal projection lines to the current bar
* Dotted straight connecting lines between anchor points
* Anchor dots at each pivot level
* Adaptive-width level boxes scaled by ATR

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#### 5. Professional Styling Controls

* Line style: Solid / Dotted / Dashed
* Adjustable strike line width
* Independent colors for:

* S2, S1
* Pivot
* R1, R2
* Box opacity, borders, and label text colors

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### Use Cases

* Market balance and mean-reversion analysis
* Options strike clustering and distribution framing
* Futures pivot bias visualization
* Contextual support/resistance mapping
* Intraday and swing structure reference

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### Notes & Limitations

* This is a **visual analytical tool**, not a trading strategy
* Does not generate buy/sell signals
* Best used in conjunction with price action, volume, or volatility tools
* Requires sufficient historical bars to render the full structure

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### Recommended Timeframes

* Intraday (5m–30m) for structure context
* H1–H4 for swing equilibrium
* Works on all symbols with daily data availability

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**Options Pivot Smile** converts traditional pivot math into an intuitive visual distribution, helping traders see market structure as a curve rather than isolated lines.