Hermēs DocumentationSub-panes & Order Flow
Three sub-pane slots below the chart, each choosing its own metric — order-flow rates (DEX/GEX/CVR/Vanna/Charm), next-day 1D variants, and net-exposure levels (Net GEX / net convexity / cumulative Δ) — plus extreme-flow markers, a main-chart line overlay and a ±$MM noise filter.
The sub-panes are a stack of small bar/line charts below the main chart, sharing its time axis. They answer what the chart cannot: structure is static, flow is not — for any given wall, only flow tells you whether it is being reinforced or dismantled.
Hermes gives you three physical slots, each choosing its own metric.
Available metrics (three calibers)
| Caliber | Metric | Reads |
|---|---|---|
| Order flow (rate) | DEX Flow | Rate of change of net delta exposure |
| GEX Flow | Rate of change of net gamma exposure | |
| CVR Flow | Convexity-ratio flow | |
| Vanna Flow | Rate of change of vanna exposure | |
| Charm Flow | Rate of change of charm exposure | |
| Order flow · next day (1D) | DEX Flow · 1D | DEX flow on the next-nearest expiry |
| CVR Flow · 1D | CVR flow on the next-nearest expiry | |
| Net exposure (level) | Net GEX | Current net GEX level |
| Net Convexity | Net convexity level | |
| Cumulative Δ (Net DEX) | Session-cumulative net delta |
The default across the three slots is the three order-flow rates (DEX / GEX / CVR), matching prior behaviour — leave it alone and nothing changes.
GEX flow has no 1D source. Upstream provides GEX flow on the 0DTE basis only, so there is no "GEX Flow · 1D" in the list. That is a data boundary, not an oversight — Hermes will not synthesise a series that does not exist.
Why expiry is a metric key
Implementing "1D expiry" as an explicit metric key, rather than yet another global switch, buys two things:
- Side-by-side comparison — slot one on 0DTE DEX flow, slot two on 1D DEX flow, and any divergence is immediately visible.
- No hidden state — the title on the pane is its basis; you can never misread a chart because a global toggle was left on.
For the whole expiry picture, see Basis system.
Pane form
Candles + line (default)
Candles mirroring the main price axis sit behind, a smoothed line of the metric sits in front, with the metric scale on the left and price on the right. Best for lining up turns in flow against turns in price.
Classic diverging bars
Bars diverging above and below a centred zero line. Best for reading the absolute size of a single print and runs of same-side accumulation.
Extreme-flow markers
When a flow prints an extreme reading, the main chart draws a vertical marker. The three sources (CVR / DEX / GEX) toggle independently and each marker takes the colour of its pane, so you can identify quickly which flow fired.
The marker says an unusually large hedging print just happened. It is an event tag, not a signal: it tells you something happened, not which way.
Line overlay on the main chart
Any order-flow metric can be promoted from its pane onto the main chart as a line (candle mode only). Its bar pane hides automatically so the same data never occupies vertical space twice.
The accompanying ±$MM filter removes flow below a dollar threshold, applying only to dollar-denominated metrics. Raise the threshold and only flow of real size survives on the chart.
A typical workflow
- Price approaches C1 → watch GEX Flow: inflow means the wall is being reinforced, a flip to outflow means someone is taking it apart.
- Judging intraday direction → watch Cumulative Δ (Net DEX): as a running level it says more about who is winning today than any single flow rate.
- Event days → put Vanna Flow and Charm Flow in two slots: the first is hedging driven by IV moves, the second hedging driven by time decay.
- Cross-expiry confirmation → run DEX Flow and DEX Flow · 1D side by side. Flow that exists only in 0DTE goes to zero at the close.
Next
Frequently asked questions
Can two sub-panes show the same metric at different expiries?
Yes. Expiry is an explicit metric key ("DEX Flow" and "DEX Flow · 1D" are two keys), and each of the three slots picks independently — so one screen can compare 0DTE against next-day flow side by side.
What is the difference between "order flow" and "net exposure"?
Order flow is a rate — a flow accumulated from aggressor-classified trades, answering "which way is money hitting right now". Net exposure is a level — the running net for the session, answering "where do we stand having added it all up". They are different units and should not be read against one shared zero line.
What does the ±$MM filter do?
It drops flow whose absolute value falls below a threshold, and applies only to dollar-denominated metrics. In thin liquidity it lets genuinely large prints surface above a hedge of small-ticket noise.
Heat Panel
The heat panel is a second dedicated band right of the price axis that can sit alongside the distribution band — "time matrix" shows how exposure migrates across a session, "grid" shows strike × expiry layering, with eight metrics spanning GEX/DEX/VEX/CEX and OI/VOL/PREM/TX.
Chart Modes & Timeframes
The main chart draws price as a line, candles or Heikin-Ashi, across timeframes from 30 seconds to one day, with the 30-second micro bucket limited to ES/NQ. Bull-bear colour schemes (blue-up/gold-down or classic green-red) are switchable.