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Feature Request: Options X-Ray Suite – Real-Time Hedge Flow (HF) Oscillator for ES

Hi ATAS Team,

I would like to suggest adding a new indicator to the Options X-Ray Suite specifically for the ES (S&P 500 Futures) contract: a real-time Hedge Flow (HF) / Gamma Flow Oscillator.


Concept & Background:


In platforms like TradeGex, the HF (Hedge Flow) indicator is one of the most actionable tools for intraday traders. It displays a dynamic cumulative score (positive or negative) that tracks real-time shifts in Market Maker hedging pressure driven by option flow (Net Gamma Exposure shifts relative to spot price movement).


Why ATAS is uniquely positioned for this:


Since ATAS already integrates direct, real-time CBOE option data via OptionsDepth for Ultra tier users, implementing this inside ATAS would yield far higher accuracy and lower latency compared to retail platforms relying on third-party aggregated data (like OPAR).


What I am requesting:

  1. A Real-Time HF Oscillator: A line/histogram indicator plotted below or on the chart that tracks the real-time net hedging flow of Market Makers on ES.

  2. Cumulative / Dynamic Value: A number moving up and down throughout the session:

    *Rising / High Positive values: Indicates strong long hedging pressure (Market Makers buying ES futures to remain delta-neutral).

    *Falling / Negative values: Indicates short hedging pressure (Market Makers selling ES futures).

  3. Data Source: Built directly on top of the existing Options X-Ray Suite / OptionsDepth CBOE data stream.

    Adding a native HF indicator based on institutional CBOE data would give ES intraday traders using ATAS a massive edge.

    Thank you for considering this request!

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