Put/Call Volume Ratio (Sentiment Zones)

Creates a real-time visual indicator that tracks market sentiment based on options volume, using the Put/Call Volume Ratio:

Put/Call Ratio = (Put Volume) / (Call Volume)

A low ratio (e.g. < 0.7) suggests bullish sentiment, meaning more call options are being bought than puts — traders expect price to rise.

A high ratio (e.g. > 1.2) suggests bearish sentiment, meaning more puts are being bought — traders are hedging or betting on a drop.

📈 What the Script Plots:
A line chart of the real-time Put/Call Volume Ratio.

Colored thresholds to identify sentiment zones:

🟢 Bullish zone: Ratio below 0.7 (green background)

🔴 Bearish zone: Ratio above 1.2 (red background)

🟠 Neutral zone: Between 0.7 and 1.2 (no background color)

Horizontal lines for the bullish and bearish zone boundaries.

🛠️ Use Cases for Traders:
Confirm sentiment before entering a trade.

Spot potential reversals when sentiment extremes are reached.

Combine with price action or Strat setups to increase trade confidence.