Confluence Star (★)

A gold ★ on a badge means that level is confirmed by markers from a different category — a confluence signal.

Confluence Star (★) on Term Structure — gold star marks a strike where markers from different categories align

When a gold star appears on a marker badge (e.g. P1★, A1★, V★), it means that strike is a confluence level — two or more markers from different categories land on the same strike (within 0.5% tolerance).

What counts as confluence:

  • Categories are: Positive/Negative (P1, P2, N1, N2) vs Absolute/Stability/Volatility (A1, A2, S, V)
  • Two markers from the same category (e.g. P1 + P2) do not trigger a star
  • Cross-category overlap (e.g. P1 + A1, or N1 + V) does trigger a star on both badges

Visual indicators:

  • Gold ★ superscript on each confluent badge
  • Gold dotted vertical line at each confluence strike, spanning both subplots

Why it matters: Confluence levels carry stronger structural significance — multiple independent metrics agree on the same price, reinforcing the level as a key zone for hedging flows.

See also: Level Confluence, Positive Peaks (P1/P2), Absolute Peaks (A1/A2)

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