Open Interest RSI Indicator## Open Interest RSI Indicator
This indicator displays the Relative Strength Index (RSI) calculated from aggregated Open Interest (OI) data from multiple exchanges. It helps traders identify potential overbought or oversold conditions in the market based on OI momentum.
**Features:**
* **Aggregated Open Interest:** Combines OI data from Binance (USDT.P, USD.P, BUSD.P), BitMEX (USD.P, USDT.P), and Kraken (USD.P).
* **Customizable RSI:**
* Adjustable RSI period.
* Configurable overbought and oversold levels.
* Optional signal line with adjustable period.
* Option to display overbought/oversold bands.
* Option to show RSI/Signal line crossover signals.
* **Data Source Selection:** Toggle individual data sources on or off.
* **Quote Currency:** Display OI values in USD or COIN.
* **Optional OI EMA:** Display an Exponential Moving Average of the aggregated Open Interest.
* **Visual Cues:**
* Color-coded RSI line based on whether it's above or below 50.
* Background highlighting for overbought and oversold zones.
* Table display for the current OI RSI value.
**How to Use:**
1. Add the indicator to your chart.
2. In the indicator settings:
* Select the desired data sources under "Data Sources and Aggregation".
* Configure RSI parameters under "RSI Settings" (period, OB/OS levels, signal line, etc.).
* Choose the "Quote Currency" under "General".
* Optionally, enable and configure the "OI EMA" under "Additional Settings".
3. Observe the OI RSI line. Values above the overbought level (default 70) may suggest the market is overextended to the upside. Values below the oversold level (default 30) may suggest the market is overextended to the downside.
4. Look for divergences between OI RSI and price, as well as crossovers with the signal line (if enabled), for potential trading signals.
**Disclaimer:** This indicator is for informational purposes only and should not be considered financial advice. Always use risk management and combine with other analysis techniques.
Otwarte pozycje
Aggregated Open Interest [Alpha Extract]The Aggregated Open Interest indicator provides a comprehensive view of open interest across multiple cryptocurrency exchanges, allowing traders to monitor institutional positioning and market sentiment. By aggregating data from major exchanges like Binance, BitMEX, and Kraken, this indicator offers valuable insights into potential price movements and market shifts.
🔶 CALCULATION
The indicator processes open interest data through multiple analytical methods:
Exchange Aggregation: Collects and normalizes open interest data from multiple exchanges (Binance, BitMEX, Kraken) with proper currency normalization.
Multi-Mode Analysis: Calculates various metrics including raw open interest values, OI change, OI delta, volume-weighted delta, and OI RSI.
Divergence Detection: Uses pivot point analysis to identify divergences between price action and open interest movements.
Activity Assessment: Tracks bullish and bearish activity patterns by correlating open interest changes with price movements.
Formula:
Aggregate OI = Sum of normalized open interest from selected exchanges
OI Change = Current OI - Previous OI
OI Delta = Net change in open interest across timeframes
OI Delta × Volume = OI Delta weighted by relative volume
OI RSI = Relative Strength Index applied to open interest values
OI Heatmap = Multi-timeframe visualization of OI changes across 7 distinct periods
🔶 DETAILS
Visual Features:
Open Interest: Candlestick representation of aggregated open interest
OI Change: Histogram showing period-to-period changes
OI Delta: Histogram displaying net OI movements
OI Delta × Volume: Volume-weighted OI delta for enhanced signals
OI RSI: Oscillator showing overbought/oversold OI conditions
OI Heatmap: Multi-timeframe visualization showing OI changes across 7 periods (3, 5, 8, 13, 21, 34, and 55 days)
Divergence Detection: Color-coded markers (teal for bullish, red for bearish) highlighting significant divergences between price and open interest
Analysis Table: Real-time summary of key metrics including aggregate OI, recent changes, and bullish/bearish activity.
Interpretation:
Increasing Open Interest + Rising Price: Strong bullish trend confirmation
Increasing Open Interest + Falling Price: Strong bearish trend confirmation
Decreasing Open Interest + Rising Price: Weak bullish trend (potential reversal)
Decreasing Open Interest + Falling Price: Weak bearish trend (potential reversal)
Divergences: Signal potential trend exhaustion and reversals when price moves in one direction while open interest moves in the opposite direction
Heatmap: Provides at-a-glance insight into open interest trends across multiple timeframes, with green bars indicating rising OI and red bars indicating falling OI
🔶 EXAMPLES
Trend Confirmation: Rising open interest accompanying a price increase confirms strong bullish momentum with institutional backing.
Example: During January-February 2025, rising OI during price advances confirms institutional participation in the uptrend.
Bearish Divergence: Price makes a higher high while open interest makes a lower high, signaling potential trend reversal.
Example: Red markers appear at market tops where price continues higher but open interest fails to confirm, preceding significant corrections.
Bullish Divergence : Price makes a lower low while open interest makes a higher low, indicating potential bottoming.
Example: Teal markers appear at market bottoms where price continues lower but open interest fails to confirm, preceding significant rallies.
OI Heatmap Analysis : Multiple timeframes showing consistent red signals across short to long-term periods indicate strong institutional selling pressure.
Example: When all 7 periods (3-55 days) show red during a price uptrend, this signals institutional selling into retail strength, often preceding major corrections.
🔶 SETTINGS
Customization Options:
Data Sources: Toggle different exchanges (Binance USDT/USD/BUSD, BitMEX USD/USDT, Kraken USD)
Display Mode: Choose between Open Interest, OI Change, OI Delta, OI Delta × Volume, OI RSI, and OI Heatmap
Currency Units: Display in USD or base cryptocurrency (COIN)
Analysis Tools: Moving Average (length and color), RSI (length and color)
Divergence Detection: Enable/disable signals, adjust lookback period and threshold percentage, customize bullish/bearish divergence colors
OI Heatmap Colors: Customize bullish (green) and bearish (red) signal colors for the multi-timeframe heatmap visualization
The Aggregated Open Interest indicator provides traders with comprehensive insights into institutional positioning across major exchanges, helping identify potential trend continuations, reversals, and key market turning points driven by smart money movements. The addition of the OI Heatmap feature enables traders to quickly visualize open interest trends across multiple timeframes, providing valuable context for institutional positioning over different market cycles.
Larry Williams POIV A/D [tradeviZion]Larry Williams' POIV A/D - Release Notes v1.0
=================================================
Release Date: 01 April 2025
OVERVIEW
--------
The Larry Williams POIV A/D (Price, Open Interest, Volume Accumulation/Distribution) indicator implements Williams' original formula while adding advanced divergence detection capabilities. This powerful tool combines price movement, open interest, and volume data to identify potential trend reversals and continuations.
FEATURES
--------
- Implements Larry Williams' original POIV A/D formula
- Divergence detection system:
* Regular divergences for trend reversal signals
* Hidden divergences for trend continuation signals
- Fast Mode option for earlier pivot detection
- Customizable sensitivity for divergence filtering
- Dynamic color visualization based on indicator direction
- Adjustable smoothing to reduce noise
- Automatic fallback to OBV when Open Interest is unavailable
FORMULA
-------
POIV A/D = CumulativeSum(Open Interest * (Close - Close ) / (True High - True Low)) + OBV
Where:
- Open Interest: Current period's open interest
- Close - Close : Price change from previous period
- True High - True Low: True Range
- OBV: On Balance Volume
DIVERGENCE TYPES
---------------
1. Regular Divergences (Reversal Signals):
- Bullish: Price makes lower lows while indicator makes higher lows
- Bearish: Price makes higher highs while indicator makes lower highs
2. Hidden Divergences (Continuation Signals):
- Bullish: Price makes higher lows while indicator makes lower lows
- Bearish: Price makes lower highs while indicator makes higher highs
REQUIREMENTS
-----------
- Works best with futures and other instruments that provide Open Interest data
- Automatically adapts to work with any instrument by using OBV when OI is unavailable
USAGE GUIDE
-----------
1. Apply the indicator to any chart
2. Configure settings:
- Adjust sensitivity for divergence detection
- Enable/disable Fast Mode for earlier signals
- Customize visual settings as needed
3. Look for divergence signals:
- Regular divergences for potential trend reversals
- Hidden divergences for trend continuation opportunities
4. Use the alerts system for automated divergence detection
KNOWN LIMITATIONS
----------------
- Requires Open Interest data for full functionality
- Fast Mode may generate more signals but with lower reliability
ACKNOWLEDGEMENTS
---------------
This indicator is based on Larry Williams' work on Open Interest analysis. The implementation includes additional features for divergence detection while maintaining the integrity of the original formula.
BTC: Open InterestThis indicator tracks the 7-day (default) percentage change in open interest (OI), providing insights into market participation trends. It includes customizable periods and colors, allowing traders to adjust settings for better visualization.
Open interest (OI) is the total number of active contracts (futures or options) that haven’t been closed or settled. It represents the total open positions in the market.
Thus when OI increases, more traders are entering new positions, signaling growing market interest. Conversely, when OI decreases, positions are being closed, suggesting lower trader participation or liquidation.
Attributes & Features:
Open Interest Percentage Change – Measures the 7-day % change in open interest to track market participation.
Customizable Calculation Period – Users can adjust the period (default: 7 days) for more flexible analysis.
Adjustable Colors – Allows modification of colors for better visualization.
Trend Identification – Highlights rising vs. falling open interest trends.
Works Across Assets – Can be used for cryptos, stocks, and futures with open interest data.
Overlay or Separate Panel – Can be plotted on price chart or as a separate indicator.
How It Works:
Fetches Open Interest Data – Retrieves open interest values for each day for USD, USDT, and USDC Bitcoin Perpetual Derivitives.
Calculates Percentage Change – Compares current open interest to its value X days ago (Default = 7 days).
Standard Deviation – Applies standard deviation ranging from -2 to +2 deviations to identify large shifts in OI.
Visual Alerts – Can highlight extreme increases or decreases signaling potential market shifts.
NOTE: THE INDICATOR DATA ONLY GOES BACK TO START OF 2022
Open Interest (Multiple Exchanges for Crypto)On some cryptocurrencies and exchanges the OI data is nonexistent or deplorable. With this indicator you can see OI data from multiple exchanges (or just the best one) from USD,USDT, or USD+USDT pairs whether you are using a perpetuals chart or not.
Hope you all like it!
Request█ OVERVIEW
This library is a tool for Pine Script™ programmers that consolidates access to a wide range of lesser-known data feeds available on TradingView, including metrics from the FRED database, FINRA short sale volume, open interest, and COT data. The functions in this library simplify requests for these data feeds, making them easier to retrieve and use in custom scripts.
█ CONCEPTS
Federal Reserve Economic Data (FRED)
FRED (Federal Reserve Economic Data) is a comprehensive online database curated by the Federal Reserve Bank of St. Louis. It provides free access to extensive economic and financial data from U.S. and international sources. FRED includes numerous economic indicators such as GDP, inflation, employment, and interest rates. Additionally, it provides financial market data, regional statistics, and international metrics such as exchange rates and trade balances.
Sourced from reputable organizations, including U.S. government agencies, international institutions, and other public and private entities, FRED enables users to analyze over 825,000 time series, download their data in various formats, and integrate their information into analytical tools and programming workflows.
On TradingView, FRED data is available from ticker identifiers with the "FRED:" prefix. Users can search for FRED symbols in the "Symbol Search" window, and Pine scripts can retrieve data for these symbols via `request.*()` function calls.
FINRA Short Sale Volume
FINRA (the Financial Industry Regulatory Authority) is a non-governmental organization that supervises and regulates U.S. broker-dealers and securities professionals. Its primary aim is to protect investors and ensure integrity and transparency in financial markets.
FINRA's Short Sale Volume data provides detailed information about daily short-selling activity across U.S. equity markets. This data tracks the volume of short sales reported to FINRA's trade reporting facilities (TRFs), including shares sold on FINRA-regulated Alternative Trading Systems (ATSs) and over-the-counter (OTC) markets, offering transparent access to short-selling information not typically available from exchanges. This data helps market participants, researchers, and regulators monitor trends in short-selling and gain insights into bearish sentiment, hedging strategies, and potential market manipulation. Investors often use this data alongside other metrics to assess stock performance, liquidity, and overall trading activity.
It is important to note that FINRA's Short Sale Volume data does not consolidate short sale information from public exchanges and excludes trading activity that is not publicly disseminated.
TradingView provides ticker identifiers for requesting Short Sale Volume data with the format "FINRA:_SHORT_VOLUME", where "" is a supported U.S. equities symbol (e.g., "AAPL").
Open Interest (OI)
Open interest is a cornerstone indicator of market activity and sentiment in derivatives markets such as options or futures. In contrast to volume, which measures the number of contracts opened or closed within a period, OI measures the number of outstanding contracts that are not yet settled. This distinction makes OI a more robust indicator of how money flows through derivatives, offering meaningful insights into liquidity, market interest, and trends. Many traders and investors analyze OI alongside volume and price action to gain an enhanced perspective on market dynamics and reinforce trading decisions.
TradingView offers many ticker identifiers for requesting OI data with the format "_OI", where "" represents a derivative instrument's ticker ID (e.g., "COMEX:GC1!").
Commitment of Traders (COT)
Commitment of Traders data provides an informative weekly breakdown of the aggregate positions held by various market participants, including commercial hedgers, non-commercial speculators, and small traders, in the U.S. derivative markets. Tallied and managed by the Commodity Futures Trading Commission (CFTC) , these reports provide traders and analysts with detailed insight into an asset's open interest and help them assess the actions of various market players. COT data is valuable for gaining a deeper understanding of market dynamics, sentiment, trends, and liquidity, which helps traders develop informed trading strategies.
TradingView has numerous ticker identifiers that provide access to time series containing data for various COT metrics. To learn about COT ticker IDs and how they work, see our LibraryCOT publication.
█ USING THE LIBRARY
Common function characteristics
• This library's functions construct ticker IDs with valid formats based on their specified parameters, then use them as the `symbol` argument in request.security() to retrieve data from the specified context.
• Most of these functions automatically select the timeframe of a data request because the data feeds are not available for all timeframes.
• All the functions have two overloads. The first overload of each function uses values with the "simple" qualifier to define the requested context, meaning the context does not change after the first script execution. The second accepts "series" values, meaning it can request data from different contexts across executions.
• The `gaps` parameter in most of these functions specifies whether the returned data is `na` when a new value is unavailable for request. By default, its value is `false`, meaning the call returns the last retrieved data when no new data is available.
• The `repaint` parameter in applicable functions determines whether the request can fetch the latest unconfirmed values from a higher timeframe on realtime bars, which might repaint after the script restarts. If `false`, the function only returns confirmed higher-timeframe values to avoid repainting. The default value is `true`.
`fred()`
The `fred()` function retrieves the most recent value of a specified series from the Federal Reserve Economic Data (FRED) database. With this function, programmers can easily fetch macroeconomic indicators, such as GDP and unemployment rates, and use them directly in their scripts.
How it works
The function's `fredCode` parameter accepts a "string" representing the unique identifier of a specific FRED series. Examples include "GDP" for the "Gross Domestic Product" series and "UNRATE" for the "Unemployment Rate" series. Over 825,000 codes are available. To access codes for available series, search the FRED website .
The function adds the "FRED:" prefix to the specified `fredCode` to construct a valid FRED ticker ID (e.g., "FRED:GDP"), which it uses in request.security() to retrieve the series data.
Example Usage
This line of code requests the latest value from the Gross Domestic Product series and assigns the returned value to a `gdpValue` variable:
float gdpValue = fred("GDP")
`finraShortSaleVolume()`
The `finraShortSaleVolume()` function retrieves EOD data from a FINRA Short Sale Volume series. Programmers can call this function to retrieve short-selling information for equities listed on supported exchanges, namely NASDAQ, NYSE, and NYSE ARCA.
How it works
The `symbol` parameter determines which symbol's short sale volume information is retrieved by the function. If the value is na , the function requests short sale volume data for the chart's symbol. The argument can be the name of the symbol from a supported exchange (e.g., "AAPL") or a ticker ID with an exchange prefix ("NASDAQ:AAPL"). If the `symbol` contains an exchange prefix, it must be one of the following: "NASDAQ", "NYSE", "AMEX", or "BATS".
The function constructs a ticker ID in the format "FINRA:ticker_SHORT_VOLUME", where "ticker" is the symbol name without the exchange prefix (e.g., "AAPL"). It then uses the ticker ID in request.security() to retrieve the available data.
Example Usage
This line of code retrieves short sale volume for the chart's symbol and assigns the result to a `shortVolume` variable:
float shortVolume = finraShortSaleVolume(syminfo.tickerid)
This example requests short sale volume for the "NASDAQ:AAPL" symbol, irrespective of the current chart:
float shortVolume = finraShortSaleVolume("NASDAQ:AAPL")
`openInterestFutures()` and `openInterestCrypto()`
The `openInterestFutures()` function retrieves EOD open interest (OI) data for futures contracts. The `openInterestCrypto()` function provides more granular OI data for cryptocurrency contracts.
How they work
The `openInterestFutures()` function retrieves EOD closing OI information. Its design is focused primarily on retrieving OI data for futures, as only EOD OI data is available for these instruments. If the chart uses an intraday timeframe, the function requests data from the "1D" timeframe. Otherwise, it uses the chart's timeframe.
The `openInterestCrypto()` function retrieves opening, high, low, and closing OI data for a cryptocurrency contract on a specified timeframe. Unlike `openInterest()`, this function can also retrieve granular data from intraday timeframes.
Both functions contain a `symbol` parameter that determines the symbol for which the calls request OI data. The functions construct a valid OI ticker ID from the chosen symbol by appending "_OI" to the end (e.g., "CME:ES1!_OI").
The `openInterestFutures()` function requests and returns a two-element tuple containing the futures instrument's EOD closing OI and a "bool" condition indicating whether OI is rising.
The `openInterestCrypto()` function requests and returns a five-element tuple containing the cryptocurrency contract's opening, high, low, and closing OI, and a "bool" condition indicating whether OI is rising.
Example usage
This code line calls `openInterest()` to retrieve EOD OI and the OI rising condition for a futures symbol on the chart, assigning the values to two variables in a tuple:
= openInterestFutures(syminfo.tickerid)
This line retrieves the EOD OI data for "CME:ES1!", irrespective of the current chart's symbol:
= openInterestFutures("CME:ES1!")
This example uses `openInterestCrypto()` to retrieve OHLC OI data and the OI rising condition for a cryptocurrency contract on the chart, sampled at the chart's timeframe. It assigns the returned values to five variables in a tuple:
= openInterestCrypto(syminfo.tickerid, timeframe.period)
This call retrieves OI OHLC and rising information for "BINANCE:BTCUSDT.P" on the "1D" timeframe:
= openInterestCrypto("BINANCE:BTCUSDT.P", "1D")
`commitmentOfTraders()`
The `commitmentOfTraders()` function retrieves data from the Commitment of Traders (COT) reports published by the Commodity Futures Trading Commission (CFTC). This function significantly simplifies the COT request process, making it easier for programmers to access and utilize the available data.
How It Works
This function's parameters determine different parts of a valid ticker ID for retrieving COT data, offering a streamlined alternative to constructing complex COT ticker IDs manually. The `metricName`, `metricDirection`, and `includeOptions` parameters are required. They specify the name of the reported metric, the direction, and whether it includes information from options contracts.
The function also includes several optional parameters. The `CFTCCode` parameter allows programmers to request data for a specific report code. If unspecified, the function requests data based on the chart symbol's root prefix, base currency, or quoted currency, depending on the `mode` argument. The call can specify the report type ("Legacy", "Disaggregated", or "Financial") and metric type ("All", "Old", or "Other") with the `typeCOT` and `metricType` parameters.
Explore the CFTC website to find valid report codes for specific assets. To find detailed information about the metrics included in the reports and their meanings, see the CFTC's Explanatory Notes .
View the function's documentation below for detailed explanations of its parameters. For in-depth information about COT ticker IDs and more advanced functionality, refer to our previously published COT library .
Available metrics
Different COT report types provide different metrics . The tables below list all available metrics for each type and their applicable directions:
+------------------------------+------------------------+
| Legacy (COT) Metric Names | Directions |
+------------------------------+------------------------+
| Open Interest | No direction |
| Noncommercial Positions | Long, Short, Spreading |
| Commercial Positions | Long, Short |
| Total Reportable Positions | Long, Short |
| Nonreportable Positions | Long, Short |
| Traders Total | No direction |
| Traders Noncommercial | Long, Short, Spreading |
| Traders Commercial | Long, Short |
| Traders Total Reportable | Long, Short |
| Concentration Gross LT 4 TDR | Long, Short |
| Concentration Gross LT 8 TDR | Long, Short |
| Concentration Net LT 4 TDR | Long, Short |
| Concentration Net LT 8 TDR | Long, Short |
+------------------------------+------------------------+
+-----------------------------------+------------------------+
| Disaggregated (COT2) Metric Names | Directions |
+-----------------------------------+------------------------+
| Open Interest | No Direction |
| Producer Merchant Positions | Long, Short |
| Swap Positions | Long, Short, Spreading |
| Managed Money Positions | Long, Short, Spreading |
| Other Reportable Positions | Long, Short, Spreading |
| Total Reportable Positions | Long, Short |
| Nonreportable Positions | Long, Short |
| Traders Total | No Direction |
| Traders Producer Merchant | Long, Short |
| Traders Swap | Long, Short, Spreading |
| Traders Managed Money | Long, Short, Spreading |
| Traders Other Reportable | Long, Short, Spreading |
| Traders Total Reportable | Long, Short |
| Concentration Gross LE 4 TDR | Long, Short |
| Concentration Gross LE 8 TDR | Long, Short |
| Concentration Net LE 4 TDR | Long, Short |
| Concentration Net LE 8 TDR | Long, Short |
+-----------------------------------+------------------------+
+-------------------------------+------------------------+
| Financial (COT3) Metric Names | Directions |
+-------------------------------+------------------------+
| Open Interest | No Direction |
| Dealer Positions | Long, Short, Spreading |
| Asset Manager Positions | Long, Short, Spreading |
| Leveraged Funds Positions | Long, Short, Spreading |
| Other Reportable Positions | Long, Short, Spreading |
| Total Reportable Positions | Long, Short |
| Nonreportable Positions | Long, Short |
| Traders Total | No Direction |
| Traders Dealer | Long, Short, Spreading |
| Traders Asset Manager | Long, Short, Spreading |
| Traders Leveraged Funds | Long, Short, Spreading |
| Traders Other Reportable | Long, Short, Spreading |
| Traders Total Reportable | Long, Short |
| Concentration Gross LE 4 TDR | Long, Short |
| Concentration Gross LE 8 TDR | Long, Short |
| Concentration Net LE 4 TDR | Long, Short |
| Concentration Net LE 8 TDR | Long, Short |
+-------------------------------+------------------------+
Example usage
This code line retrieves "Noncommercial Positions (Long)" data, without options information, from the "Legacy" report for the chart symbol's root, base currency, or quote currency:
float nonCommercialLong = commitmentOfTraders("Noncommercial Positions", "Long", false)
This example retrieves "Managed Money Positions (Short)" data, with options included, from the "Disaggregated" report:
float disaggregatedData = commitmentOfTraders("Managed Money Positions", "Short", true, "", "Disaggregated")
█ NOTES
• This library uses dynamic requests , allowing dynamic ("series") arguments for the parameters defining the context (ticker ID, timeframe, etc.) of a `request.*()` function call. With this feature, a single `request.*()` call instance can flexibly retrieve data from different feeds across historical executions. Additionally, scripts can use such calls in the local scopes of loops, conditional structures, and even exported library functions, as demonstrated in this script. All scripts coded in Pine Script™ v6 have dynamic requests enabled by default. To learn more about the behaviors and limitations of this feature, see the Dynamic requests section of the Pine Script™ User Manual.
• The library's example code offers a simple demonstration of the exported functions. The script retrieves available data using the function specified by the "Series type" input. The code requests a FRED series or COT (Legacy), FINRA Short Sale Volume, or Open Interest series for the chart's symbol with specific parameters, then plots the retrieved data as a step-line with diamond markers.
Look first. Then leap.
█ EXPORTED FUNCTIONS
This library exports the following functions:
fred(fredCode, gaps)
Requests a value from a specified Federal Reserve Economic Data (FRED) series. FRED is a comprehensive source that hosts numerous U.S. economic datasets. To explore available FRED datasets and codes, search for specific categories or keywords at fred.stlouisfed.org Calls to this function count toward a script's `request.*()` call limit.
Parameters:
fredCode (series string) : The unique identifier of the FRED series. The function uses the value to create a valid ticker ID for retrieving FRED data in the format `"FRED:fredCode"`. For example, `"GDP"` refers to the "Gross Domestic Product" series ("FRED:GDP"), and `"GFDEBTN"` refers to the "Federal Debt: Total Public Debt" series ("FRED:GFDEBTN").
gaps (simple bool) : Optional. If `true`, the function returns a non-na value only when a new value is available from the requested context. If `false`, the function returns the latest retrieved value when new data is unavailable. The default is `false`.
Returns: (float) The value from the requested FRED series.
finraShortSaleVolume(symbol, gaps, repaint)
Requests FINRA daily short sale volume data for a specified symbol from one of the following exchanges: NASDAQ, NYSE, NYSE ARCA. If the chart uses an intraday timeframe, the function requests data from the "1D" timeframe. Otherwise, it uses the chart's timeframe. Calls to this function count toward a script's `request.*()` call limit.
Parameters:
symbol (series string) : The symbol for which to request short sale volume data. If the specified value contains an exchange prefix, it must be one of the following: "NASDAQ", "NYSE", "AMEX", "BATS".
gaps (simple bool) : Optional. If `true`, the function returns a non-na value only when a new value is available from the requested context. If `false`, the function returns the latest retrieved value when new data is unavailable. The default is `false`.
repaint (simple bool) : Optional. If `true` and the chart's timeframe is intraday, the value requested on realtime bars may change its time offset after the script restarts its executions. If `false`, the function returns the last confirmed period's values to avoid repainting. The default is `true`.
Returns: (float) The short sale volume for the specified symbol or the chart's symbol.
openInterestFutures(symbol, gaps, repaint)
Requests EOD open interest (OI) and OI rising information for a valid futures symbol. If the chart uses an intraday timeframe, the function requests data from the "1D" timeframe. Otherwise, it uses the chart's timeframe. Calls to this function count toward a script's `request.*()` call limit.
Parameters:
symbol (series string) : The symbol for which to request open interest data.
gaps (simple bool) : Optional. If `true`, the function returns non-na values only when new values are available from the requested context. If `false`, the function returns the latest retrieved values when new data is unavailable. The default is `false`.
repaint (simple bool) : Optional. If `true` and the chart's timeframe is intraday, the value requested on realtime bars may change its time offset after the script restarts its executions. If `false`, the function returns the last confirmed period's values to avoid repainting. The default is `true`.
Returns: ( ) A tuple containing the following values:
- The closing OI value for the symbol.
- `true` if the closing OI is above the previous period's value, `false` otherwise.
openInterestCrypto(symbol, timeframe, gaps, repaint)
Requests opening, high, low, and closing open interest (OI) data and OI rising information for a valid cryptocurrency contract on a specified timeframe. Calls to this function count toward a script's `request.*()` call limit.
Parameters:
symbol (series string) : The symbol for which to request open interest data.
timeframe (series string) : The timeframe of the data request. If the timeframe is lower than the chart's timeframe, it causes a runtime error.
gaps (simple bool) : Optional. If `true`, the function returns non-na values only when new values are available from the requested context. If `false`, the function returns the latest retrieved values when new data is unavailable. The default is `false`.
repaint (simple bool) : Optional. If `true` and the `timeframe` represents a higher timeframe, the function returns unconfirmed values from the timeframe on realtime bars, which repaint when the script restarts its executions. If `false`, it returns only confirmed higher-timeframe values to avoid repainting. The default is `true`.
Returns: ( ) A tuple containing the following values:
- The opening, high, low, and closing OI values for the symbol, respectively.
- `true` if the closing OI is above the previous period's value, `false` otherwise.
commitmentOfTraders(metricName, metricDirection, includeOptions, CFTCCode, typeCOT, mode, metricType)
Requests Commitment of Traders (COT) data with specified parameters. This function provides a simplified way to access CFTC COT data available on TradingView. Calls to this function count toward a script's `request.*()` call limit. For more advanced tools and detailed information about COT data, see TradingView's LibraryCOT library.
Parameters:
metricName (series string) : One of the valid metric names listed in the library's documentation and source code.
metricDirection (series string) : Metric direction. Possible values are: "Long", "Short", "Spreading", and "No direction". Consult the library's documentation or code to see which direction values apply to the specified metric.
includeOptions (series bool) : If `true`, the COT symbol includes options information. Otherwise, it does not.
CFTCCode (series string) : Optional. The CFTC code for the asset. For example, wheat futures (root "ZW") have the code "001602". If one is not specified, the function will attempt to get a valid code for the chart symbol's root, base currency, or main currency.
typeCOT (series string) : Optional. The type of report to request. Possible values are: "Legacy", "Disaggregated", "Financial". The default is "Legacy".
mode (series string) : Optional. Specifies the information the function extracts from a symbol. Possible modes are:
- "Root": The function extracts the futures symbol's root prefix information (e.g., "ES" for "ESH2020").
- "Base currency": The function extracts the first currency from a currency pair (e.g., "EUR" for "EURUSD").
- "Currency": The function extracts the currency of the symbol's quoted values (e.g., "JPY" for "TSE:9984" or "USDJPY").
- "Auto": The function tries the first three modes (Root -> Base currency -> Currency) until it finds a match.
The default is "Auto". If the specified mode is not available for the symbol, it causes a runtime error.
metricType (series string) : Optional. The metric type. Possible values are: "All", "Old", "Other". The default is "All".
Returns: (float) The specified Commitment of Traders data series. If no data is available, it causes a runtime error.
Open Interest (OI) Delta [UAlgo]The Open Interest (OI) Delta indicator is a tool designed to provide insights into the dynamics of Open Interest changes within the futures market. Open Interest (OI) refers to the total number of outstanding derivative contracts, such as options or futures, that have not been settled. The OI Delta measures the change in Open Interest over a specified period, allowing traders to assess whether new money is entering the market or existing positions are being closed.
This indicator offers two distinct display modes to visualize OI Delta, along with customizable levels that help in categorizing the magnitude of OI changes. Additionally, it provides the option to color-code the bars on the price chart based on the intensity and direction of OI Delta, making it easier for traders to interpret market sentiment and potential future price movements.
🔶 Key Features
Two Display Modes: Choose between two different modes for visualizing OI Delta, depending on your analysis preferences:
Mode 1: Displays the OI Delta directly as positive or negative values.
Mode 2: Separates positive and negative OI Delta values, displaying them as absolute values for easier comparison.
Customizable Levels: Set up to four levels of OI Delta magnitude, each with customizable thresholds and colors. These levels help categorize the OI changes into Normal, Medium, Large, and Extreme ranges, allowing for a more nuanced interpretation of market activity.
MA Length and Standard Deviation Period: Adjust the moving average length and standard deviation period for OI Delta, which smooths out the data and helps in identifying significant deviations from the norm.
Color-Coded Bar Chart: Optionally color the price bars on your chart based on the OI Delta levels, helping to visually correlate price action with changes in Open Interest.
Heatmap Display: Toggle the display of OI Delta levels on the chart, with the option to fill the areas between these levels for a more visually intuitive understanding of the data.
🔶 Interpreting Indicator
Positive vs. Negative OI Delta:
A positive OI Delta indicates that the Open Interest is increasing, suggesting that new contracts are being created, which could imply fresh capital entering the market.
A negative OI Delta suggests that Open Interest is decreasing, indicating that contracts are being closed out or settled, which might reflect profit-taking or a reduction in market interest.
Magnitude Levels:
Level 1 (Normal OI Δ): Represents typical, less significant changes in OI. If the OI Delta stays within this range, it may indicate routine market activity without any substantial shift in sentiment.
Level 2 (Medium OI Δ): Reflects a more significant change in OI, suggesting increased market interest and possibly the beginning of a new trend or phase of market participation.
Level 3 (Large OI Δ): Indicates a strong change in OI, often associated with a decisive move in the market. This could signify strong conviction among market participants, either bullish or bearish.
Level 4 (Extreme OI Δ): The highest level of OI change, often preceding major market moves. Extreme OI Δ can be a signal of potential market reversals or the final phase of a strong trend.
Color-Coded Bars:
When enabled, the color of the price bars will reflect the magnitude and direction of the OI Delta. This visual aid helps in quickly assessing the correlation between price movements and changes in market sentiment as indicated by OI.
This indicator is particularly useful for futures traders looking to gauge the strength and direction of market sentiment by analyzing changes in Open Interest. By combining this with price action, traders can gain a deeper understanding of market dynamics and make more informed trading decisions
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Open Interest liquidation map [Ox_kali]This script is inspired by @LeviathanCapital work on aggregating Open Interest , as presented in the Open Interest Suite Aggregated script. This script aims to provide a liquidation map of Open Interest by identifying significant anomalies across multiple trading platforms. By integrating data from Binance, BitMEX, and Kraken, this script tries to offer a comprehensive and detailed view of Open Interest movements and attempts to define zones of interest.
Key Points
1. Multiple Data Sources : The script retrieves Open Interest data from several trading platforms, including Binance (USDT, USD, BUSD), BitMEX (USD, USDT), and Kraken (USD).
2. Anomaly Detection : Utilizes a simple moving average (SMA) to calculate the average size of Open Interest candles and identify anomalies based on a user-specified size factor.
3. Background Coloring : Offers an option to color the background of the charts based on detected anomalies, allowing for clear visualization of significant movements.
4. Dynamic Support and Resistance Zones : Defines and dynamically updates support and resistance zones based on Open Interest anomalies.
5. Alerts : Configures alerts to notify the user when an Open Interest anomaly is detected.
Trading Utility
This script can be useful for monitoring significant changes in Open Interest and potential liquidation zones across multiple platforms. The main trading applications include:
1. Identifying Liquidation Points : By detecting Open Interest anomalies, it is possible to identify potential liquidation points where significant price movements might occur.
2. Multi-Platform Analysis : By aggregating Open Interest data from multiple platforms, a more comprehensive market overview is obtained.
3. Detecting Support and Resistance Zones : Dynamic support and resistance zones help identify key price levels where trend reversals might occur.
4. Customized Alerts: Anomaly alerts allow for automated responses to market changes.
Conclusion
The “Open Interest liquidation map ” script is an experimental tool for analyzing Open Interest across multiple trading platforms. Inspired by Leviathan’s work, this script attempts to identify liquidation and interest zones. This is an experimental version, and I welcome any comments and feedback for improvement.
Please note that the Open Interest liquidation map is not a guarantee of future market performance and should be used in conjunction with proper risk management. Always ensure that you have a thorough understanding of the indicator’s methodology and its limitations before making any investment decisions. Additionally, past performance is not indicative of future results.
RSI Screener / Heatmap - By LeviathanThis script allows you to quickly scan the market by displaying the RSI values of up to 280 tickers at once and visualizing them in an easy-to-understand format using labels with heatmap coloring.
📊 Source
The script can display the RSI from a custom timeframe (MTF) and custom length for the following data:
- Price
- OBV (On Balance Volume)
- Open Interest (for crypto tickers)
📋 Ticker Selection
This script uses a different approach for selecting tickers. Instead of inputting them one by one via input.symbol(), you can now copy-paste or edit a list of tickers in the text area window. This approach allows users to easily exchange ticker lists between each other and, for example, create multiple lists of tickers by sector, market cap, etc., and easily input them into the script. Full credit to @allanster for his functions for extracting tickers from the text. Users can switch between 7 groups of 40 tickers each, totaling 280 tickers.
🖥️ Display Types
- Screener with Labels: Each ticker has its own color-coded label located at its RSI value.
- Group Average RSI: A standard RSI plot that displays the average RSI of all tickers in the group.
- RSI Heatmap (coming soon): Color-coded rows displaying current and historical values of tickers.
- RSI Divergence Heatmap (coming soon): Color-coded rows displaying current and historical regular/hidden bullish/bearish divergences for tickers.
🎨 Appearance
Appearance is fully customizable via user inputs, allowing you to change heatmap/gradient colors, zone coloring, and more.
Open Interest Inflows & Outflows [LuxAlgo]The Open Interest Inflows & Outflows indicator focuses on highlighting alterations in the overall count of active contracts associated with a specific financial instrument.
The indicator also includes an oscillator highlighting the price sentiment to use in conjunction with the open interest flow sentiment and also includes a rolling correlation of the open interest flow sentiment with a user-selected source.
🔶 USAGE
Open Interest (OI) indicates the total number of active contracts, encompassing both long and short positions, for a specific financial instrument at any given moment. This key indicator helps traders and analysts assess market activity and sentiment.
An increase in open interest generally indicates new money flowing into the market, suggesting increased activity and the potential for a trending market. Conversely, a decrease in open interest indicates that traders are closing their positions, suggesting less interest in that particular contract.
Open Interest Flow Sentiment assesses the correlation between the initiation of new positions (inflows) and the closure of existing positions (outflows) for a particular instrument. Positive values suggest a prevalence of inflows, while negative values signify a prevalence of outflows.
The magnitude of the deviation from zero reflects the extent of dominance, either in inflows or outflows.
Price Sentiment estimates the relationship between the strength of bulls (buyers) and bears (sellers) on an instrument. Positive values indicate higher bull power and negative values indicate higher bear power.
The correlation feature is a key component of the indicator and helps analyze the relationship between trading volume and Open Interest changes. If volume increases along with rising Open Interest, it supports the validity of the price trend.
A divergence between price movement, volume, and Open Interest may signal potential reversals.
🔶 DETAILS
This indicator, based on Dr. Alexander Elder's acclaimed Elder-Ray concept, aids traders in evaluating the strength of both bulls and bears by delving beneath the surface of the markets. It uncovers data not immediately apparent from a superficial glance at prices. The indicator comprises two components: Bull Power and Bear Power.
Considering that the high price of any candle signifies the maximum power of buyers and the low price represents the maximum power of sellers, Elder employs the 13-period Exponential Moving Average (EMA) to depict the average consensus of price value. Bull Power assesses whether buyers can drive prices above the average consensus of value, while Bear Power assesses whether sellers can push prices below this average.
Here are the formulas for Bull Power and Bear Power:
bull_power = high - ema(close, 13)
bear_power = low - ema(close, 13)
This concept is utilized to calculate Open Interest Flow Sentiment and Price Sentiment. The Open Interest Flow Sentiment estimates the relationship between new positions (inflows) and positions being closed (outflows), providing insights into market dynamics. The Price Sentiment, on the other hand, gauges the correlation between price movements and the Elder-Ray components, aiding traders in identifying potential shifts in market sentiment and momentum.
🔶 SETTINGS
🔹Open Interest Inflows & Outflows
OI Sentiment Correlation: toggles the visibility of Open Interest correlation with a variety of sources.
Money Flow Estimates: toggles the visibility of Money Flow Estimates calculated for the last bar.
🔹Style
OI Flow Sentiment: toggles the visibility of Open Interest Flow Sentiment, along with color customization options.
Price Sentiment: toggles the visibility of Price Sentiment, along with color customization options.
Correlation Colors: color customization option for the Correlation Area.
🔹Others
Smoothing: smoothing length applicable for Open Interest Flow Sentiment and Price Sentiment.
🔶 RELATED SCRIPTS
Open-Interest-Chart
Liquidation-Estimates
Thanks to our community for recommending this script. For more conceptual scripts and related content, we welcome you to explore by visiting >>> LuxAlgo-Scripts .
Open Interest SThis script shows Open Interest. You can choose measure, view and highlight large OI changes based on Z-Score.
Features
Measure USD or COIN
View OI Candles or OI Change columns with wicks
Z-Score Highlight Z Length is the period for calculations, Z Threshold is the standard
deviation from the average change in OI for the selected period
Color You can change the colors for OI
Liquidation Level ScreenerThe Liquidation Level Screener is an analytical tool designed for traders who seek a comprehensive view of potential liquidation zones in the market. This script, adaptable to almost any timeframe from 1 minute to 3 days, offers a unique perspective by mapping out key liquidation levels where significant market actions could occur.
Key Features:
Multi-Exchange Data Aggregation: Unlike many other indicators, the Liquidation Levels Indicator compiles data from multiple leading exchanges including Binance, Bitmex, Kraken, and Bitfinex. This approach ensures a more holistic and accurate representation of market sentiment, providing insights into potential liquidation points across various platforms.
Customizable Timeframes and Modes: The script is versatile, working effectively across various timeframes. It operates in two distinct modes:
Actual Levels Display: Visually represents potential liquidation levels.
Settings Mode: Showcases an open interest (OI) oscillator. When OI is exceptionally high, indicating a surge in opened positions at a specific candle, it signals traders to be vigilant about upcoming liquidation levels.
Three-Tier Liquidation System: The indicator categorizes liquidation levels into three distinct tiers based on open interest levels—1, 2, and 3—with Level 3 representing the highest concentration of open positions. This tiered approach allows traders to gauge the significance of each level and adjust their strategies accordingly.
Histogram Visualization: A novel feature of this script is the histogram on the chart's right side, representing the concentration of liquidation levels in specific market zones. This visual aid helps traders identify crucial areas that warrant close attention, enhancing decision-making.
Customizable Options:
Moving Averages: Choose from a wide range of moving average types, including VWMA, SMA, EMA, and more, to tailor the indicator to your analysis style.
Histogram Settings: Adjust the number of histograms, lookback bars, and their proximity to the latest candle, allowing for a personalized density and range of visualization.
Liquidation Level Sensitivity: Set thresholds for different liquidation levels, fine-tuning the indicator to detect varying degrees of market leverage.
Color Coding: Customize the color scheme for different leverage levels, enhancing visual clarity and ease of interpretation.
The Liquidation Level Screener offers a unique edge by highlighting potential zones where significant market movements can occur due to liquidations. By consolidating data from multiple exchanges, it provides a more rounded view of market behavior, which is essential in today’s interconnected trading environment. The tiered liquidation system and histogram feature equip traders with the ability to identify and focus on key market segments where high activity is expected. This tool is particularly valuable for traders who base their strategies on market liquidity and leverage dynamics.
Open Interest OscillatorIn the middle of a bustling cryptocurrency market, with Bitcoin navigating a critical phase and the community hype over potential ETF approvals, current funding rates, and market leverage, the timing is optimal to harness the capabilities of sophisticated trading tools.
Meet the Open Interest Oscillator – special indicator tailored for the volatile arena of cryptocurrency trading. This powerful instrument is adept at consolidating open interest data from a multitude of exchanges, delivering an in-depth snapshot of market sentiment across all timeframes, be it a 1-minute sprint or a weekly timeframe.
This versatile indicator is compatible with nearly all cryptocurrency pairs, offering an expansive lens through which traders can gauge the market's pulse.
Key Features:
-- Multi-exchange Data Aggregation: This feature taps into the heart of the crypto market by aggregating open interest data from premier exchanges such as BINANCE, BITMEX, BITFINEX, and KRAKEN. It goes a step further by integrating data from various pairs and stablecoins, thus providing traders with a rich, multi-dimensional view of market activities.
-- Open Interest Bars: Witness the flow of market dynamics through bars that depict the volume of positions being opened or closed, offering a clear visual cue of trading behavior. In this mode, If bars are going into negative zone, then traders are closing their positions. If they go into positive territory - leveraged positions are being opened.
-- Bollinger Band Integration: Incorporate a layer of statistical analysis with standard deviation calculations, which frame the open interest changes, giving traders a quantified edge to evaluate the market's volatility and momentum.
-- Oscillator with Customizable Thresholds: Personalize your trading signals by setting thresholds that resonate with your unique trading tactics. This customization brings the power of tailored analytics to your strategic arsenal.
-- Max OI Ceiling Setting: In the fast-paced crypto environment where data can surge to overwhelming levels, the Max OI Ceiling ensures you maintain a clear view by capping the open interest data, thus preserving the readability and interpretability of information, even when market activity reaches feverish heights.
OI Visible Range Ladder [Kioseff Trading]Hello!
This Script “OI Visible Range Ladder” calculates open interest profiles for the visible range alongside an OI ladder for the visible period!
Features
OI Profile Anchored to Visible Range
OI Ladder Anchored to Visible Range
Standard POC and Value Area Lines, in Addition to Separated POCs and Value Area Lines for each category of OI x Price
Configurable Value Area Targets
Curved Profiles
Up to 9999 Profile Rows per Visible Range
Stylistic Options for Profiles
Up to 9999 volume profile levels (Price levels) can be calculated for each profile, thanks to the new polyline feature, allowing for less aggregation / more precision of open interest at price.
The image above shows primary functionality!
Green profiles = Up OI / Up Price
Yellow profiles = Down OI / Up Price
Purple profiles = Up OI / Down Price
Red profiles = Down OI / Down Price
The image above shows POCs for each OI x Price category!
Profiles can be anchored on the left side for a more traditional look.
The indicator is robust enough to calculate on “small price periods”, or for a price period spanning your entire chart fully zoomed out!
That’s about it :D
This indicator is Part of a series titled “Bull vs. Bear” - a suite of profile-like indicators.
Thanks for checking this out!
If you have any suggestions please feel free to share!
Zig-Zag Open Interest Footprint [Kioseff Trading]Hello!
This script "Zig Zag Open Interest Footprint" calculates open interest x price values for zig zag trends!
Features
Open interest footprints anchored to zig zag trends
Summed OI x price level footprints
Total OI (for each category) for the entire trend shown
Standard POC lines, in addition to separated POC lines for each category of open interest x price possibility
Up to 9999 profile rows per zigzag trend
Stylistic options for profiles
Configurable zig zag - footprints generated for small to large trends
The zigzag indicator is configurable as normal; minor and major trend volume footprints are calculable. This indicator can be thought of as "Open Interest Footprint for Trends''.
Up to 9999 open interest levels (price levels) can be calculated for each profile, thanks to the new polyline feature, allowing for less aggregation / more precision of open interest at price.
Zig Zag OI Footprints
The image above shows primary functionality!
Green = Higher OI + Higher Price
Yellow = Lower OI + Higher Price
Purple = Higher OI + Lower Price
Red = Lower OI + Lower Price
Profiles are generated for each trend identified by the zigzag indicator.
The image above shows the indicator calculating open interest x price for specific price blocks on the footprint. Aggregate open interest for the identified trend is displayed over the profile!
Neon highlighted values correspond to the highest open interest change for the category. This is a configurable option :D
The image above shows POC lines for each category of open interest x price!
Additionally, you can select to show a single POV for footprint - the single level the greatest amount of OI change occurred.
The indicator is robust enough to calculate on "long zig zags" and "short zig zags"; curved profiles can also be used!
The image above shows key levels, each OI footprint, and summed OI values for the current trend!
That's about it :D
This indicator is part of a series titled "Bull vs. Bear" - a suite of profile-like indicators I will be releasing over the coming days. Thanks for checking this out!
If you have any suggestions please feel free to share!
TASC 2023.10 COT Commercials Indicator█ OVERVIEW
This script implements the COT Commercials Indicator introduced by Alfred François Tagher in an article featured in TASC's October 2023 edition of Traders' Tips . The indicator is designed for use in futures markets and represents a fast stochastic (%K) calculated based on the commercial open interest values of an asset derived from the weekly Commitments Of Traders (COT) report .
█ CONCEPTS
The COT report, issued by the Commodity Futures Trading Commission (CFTC) , presents a breakdown of reportable open interest positions held by various trader groups—commercial, noncommercial, and nonreportable (small traders). Open interest reflects the total number of derivative contracts entered by market participants but not yet settled. Consequently, it can serve as a measure of market activity and liquidity.
The indicator showcased here aims to analyze changes in the reported net values of open interest for commercial traders/hedgers (often referred to as 'smart money', as they deal directly in underlying commodities). The net values are positive when the commercial traders have more long positions than short ones and negative when they hold more short positions than long ones. Positive net values indicate that commercial traders hold more long positions than short ones, while negative values indicate the opposite. Thus, overbought and oversold conditions of the COT Commercials Indicator potentially suggest collective bullish and bearish sentiments, respectively.
█ CALCULATIONS
The calculations involve these steps:
1. Net open interest values are extracted from COT data using the LibraryCOT library provided by TradingView.
2. A fast stochastic indicator (%K) is then applied to normalize these net values.
The script also provides an option of calculating and plotting the indicator curve for noncommercial (speculators) open interest.
Crypto Open InterestPlots a crypto's open interest on Binance.
You can choose to see OI as asset-denominated (e.g. 1000 BTC), USD-denominated, or both.
How I usually interpret OI:
Price up, OI up = longs opened = bullish
Price up, OI down = shorts closed = bullish on HTF, or counter-trade on LTF
Price down, OI up = shorted opened = bearish
Price down, OI down = longs closed = bearish on HTF, or counter-trade on LTF
I find the indicator useful on 1-minute charts to identify liquidations and compare perp v.s. spot patterns.
Trade Tool VDWMA + OI RSI BasedThis indicator works only for symbols where open interest data is available.
The idea was to create a combination of Volume Delta, Open Interest, RSI, Moving Average and Support / Resistance as a unified tool.
I created a Weighted Moving Average based on the Volume Delta (VDWMA). The idea behind this was to reflect the moving average on the difference between buy and sell volume.
There are two VDWMA to determine a trend. Fast and Slow. The principle is the same as with conventional moving averages. For visualization, the candles are colored based on the following logic:
up trend = Fast VDWMA is above the Slow VDWMA and the price is above the Fast VWDWMA.
down Trend = Fast VDWMA is below the Slow VDWMA and the Short is below the Fast VDWMA
Further, support and resistance zones were defined based on the close and high prices as well as close and low prices.
A simple logic looks for divergences between RSI and price to generate first signals for possible price reversals.
Another RSI was created based on the open interest.
In combination with the conventional RSI, oversold and overbought zones were defined based on the following logic, which are marked by vertical zones on the chart.
Oversold zone = RSI is below 30 and OI RSI is above 70 or below 30 and OI opening is not greater than OI closing price
Overbought zone = RSI is above 70 and OI RSI is above 70 or below 30 and OI opening is not smaller than OI closing price
Based on this, buy and sell signals were defined.
First, the support or resistance zone must remain the same for two candles, which signals that the zone has not been breached. In addition, a divergence must occur in the RSI and the price must bounce.
newsell = resistance == resistance and high >= resistance and close < resistance and bearishDiv
newbull = support == support and low <= support and close > support and bullishDiv
The OI signaling was deliberately not included as well as the trend function. The tool should be suitable for scalping as well as for swinging. Thus, depending on the tradestyle itself to decide which points you want to trade.
Have fun with it
Multi-Asset Performance [Spaghetti] - By LeviathanThis indicator visualizes the cumulative percentage changes or returns of 30 symbols over a given period and offers a unique set of tools and data analytics for deeper insight into the performance of different assets.
Multi Asset Performance indicator (also called “Spaghetti”) makes it easy to monitor the changes in Price, Open Interest, and On Balance Volume across multiple assets simultaneously, distinguish assets that are overperforming or underperforming, observe the relative strength of different assets or currencies, use it as a tool for identifying mean reversion opportunities and even for constructing pairs trading strategies, detect "risk-on" or "risk-off" periods, evaluate statistical relationships between assets through metrics like correlation and beta, construct hedging strategies, trade rotations and much more.
Start by selecting a time period (e.g., 1 DAY) to set the interval for when data is reset. This will provide insight into how price, open interest, and on-balance volume change over your chosen period. In the settings, asset selection is fully customizable, allowing you to create three groups of up to 30 tickers each. These tickers can be displayed in a variety of styles and colors. Additional script settings offer a range of options, including smoothing values with a Simple Moving Average (SMA), highlighting the top or bottom performers, plotting the group mean, applying heatmap/gradient coloring, generating a table with calculations like beta, correlation, and RSI, creating a profile to show asset distribution around the mean, and much more.
One of the most important script tools is the screener table, which can display:
🔸 Percentage Change (Represents the return or the percentage increase or decrease in Price/OI/OBV over the current selected period)
🔸 Beta (Represents the sensitivity or responsiveness of asset's returns to the returns of a benchmark/mean. A beta of 1 means the asset moves in tandem with the market. A beta greater than 1 indicates the asset is more volatile than the market, while a beta less than 1 indicates the asset is less volatile. For example, a beta of 1.5 means the asset typically moves 150% as much as the benchmark. If the benchmark goes up 1%, the asset is expected to go up 1.5%, and vice versa.)
🔸 Correlation (Describes the strength and direction of a linear relationship between the asset and the mean. Correlation coefficients range from -1 to +1. A correlation of +1 means that two variables are perfectly positively correlated; as one goes up, the other will go up in exact proportion. A correlation of -1 means they are perfectly negatively correlated; as one goes up, the other will go down in exact proportion. A correlation of 0 means that there is no linear relationship between the variables. For example, a correlation of 0.5 between Asset A and Asset B would suggest that when Asset A moves, Asset B tends to move in the same direction, but not perfectly in tandem.)
🔸 RSI (Measures the speed and change of price movements and is used to identify overbought or oversold conditions of each asset. The RSI ranges from 0 to 100 and is typically used with a time period of 14. Generally, an RSI above 70 indicates that an asset may be overbought, while RSI below 30 signals that an asset may be oversold.)
⚙️ Settings Overview:
◽️ Period
Periodic inputs (e.g. daily, monthly, etc.) determine when the values are reset to zero and begin accumulating again until the period is over. This visualizes the net change in the data over each period. The input "Visible Range" is auto-adjustable as it starts the accumulation at the leftmost bar on your chart, displaying the net change in your chart's visible range. There's also the "Timestamp" option, which allows you to select a specific point in time from where the values are accumulated. The timestamp anchor can be dragged to a desired bar via Tradingview's interactive option. Timestamp is particularly useful when looking for outperformers/underperformers after a market-wide move. The input positioned next to the period selection determines the timeframe on which the data is based. It's best to leave it at default (Chart Timeframe) unless you want to check the higher timeframe structure of the data.
◽️ Data
The first input in this section determines the data that will be displayed. You can choose between Price, OI, and OBV. The second input lets you select which one out of the three asset groups should be displayed. The symbols in the asset group can be modified in the bottom section of the indicator settings.
◽️ Appearance
You can choose to plot the data in the form of lines, circles, areas, and columns. The colors can be selected by choosing one of the six pre-prepared color palettes.
◽️ Labeling
This input allows you to show/hide the labels and select their appearance and size. You can choose between Label (colored pointed label), Label and Line (colored pointed label with a line that connects it to the plot), or Text Label (colored text).
◽️ Smoothing
If selected, this option will smooth the values using a Simple Moving Average (SMA) with a custom length. This is used to reduce noise and improve the visibility of plotted data.
◽️ Highlight
If selected, this option will highlight the top and bottom N (custom number) plots, while shading the others. This makes the symbols with extreme values stand out from the rest.
◽️ Group Mean
This input allows you to select the data that will be considered as the group mean. You can choose between Group Average (the average value of all assets in the group) or First Ticker (the value of the ticker that is positioned first on the group's list). The mean is then used in calculations such as correlation (as the second variable) and beta (as a benchmark). You can also choose to plot the mean by clicking on the checkbox.
◽️ Profile
If selected, the script will generate a vertical volume profile-like display with 10 zones/nodes, visualizing the distribution of assets below and above the mean. This makes it easy to see how many or what percentage of assets are outperforming or underperforming the mean.
◽️ Gradient
If selected, this option will color the plots with a gradient based on the proximity of the value to the upper extreme, zero, and lower extreme.
◽️ Table
This section includes several settings for the table's appearance and the data displayed in it. The "Reference Length" input determines the number of bars back that are used for calculating correlation and beta, while "RSI Length" determines the length used for calculating the Relative Strength Index. You can choose the data that should be displayed in the table by using the checkboxes.
◽️ Asset Groups
This section allows you to modify the symbols that have been selected to be a part of the 3 asset groups. If you want to change a symbol, you can simply click on the field and type the ticker of another one. You can also show/hide a specific asset by using the checkbox next to the field.
Dynamic Liquidity Map [Kioseff Trading]Hello!
Just a quick/fun project here: "Dynamic Heatmap".
This script draws a volume delta or open interest delta heatmap for the asset on your chart.
The adjective "Dynamic" is used for two reasons (:
1: Self-Adjusting Lower Timeframe Data
The script requests ~10 lower timeframe volume and open interest data sets.
When using the fixed range feature the script will, beginning at the start time, check the ~10 requested lower timeframes to see which of the lower timeframes has available data.
The script will always use the lowest timeframe available during the calculation period. As time continues, the script will continue to check if new lower timeframe data (lower than the currently used lowest timeframe) is available. This process repeats until bar time is close enough to the current time that 1-minute data can be retrieved.
The image above exemplifies the process.
Incrementally lower timeframe data will be used as it becomes available.
1: Fixed range capabilities
The script features a "fixed range" tool, where you can manually set a start time (or drag & drop a bar on the chart) to determine the interval the heatmap covers.
From the start date, the script will calculate the calculate the sub-intervals necessary to draw a rows x columns heatmap. Consequently, setting the start time further back will draw a heat map with larger rows x columns, whereas, a start time closer to the current bar time will draw a more "precise" heatmap with smaller rows x columns.
Additionally, the heatmap can be calculated using open interest data.
The image above shows the heatmap displaying open interest delta.
The image above shows alternative settings for the heatmap.
Delta values have been hidden alongside grid border colors. These settings can be replicated to achieve a more "traditional" feel for the heatmap.
Thanks for checking this out!
Market Sessions and TPO (+Forecast)This indicator "Market Sessions and TPO (+Forecast)" shows various market sessions alongside a TPO profile (presented as the traditional lettering system or as bars) and price forecast for the duration of the session.
Additionally, numerous statistics for the session are shown.
Features
Session open and close times presented in boxes
Session pre market and post market shown
TPO profile generated for each session (normal market hours only)
A forecast for the remained of the session is projected forward
Forecast can be augmented by ATR
Naked POCs remain on the chart until violated
Volume delta for the session shown
OI Change for the session shown (Binance sourced)
Total volume for the session shown
Price range for the session shown
The image above shows processes of the indicator.
Volume delta, OI change, total volume and session range are calculated and presented for each session.
Additionally, a TPO profile for the most recent session is shown, and a forecast for the remainder of the active session is shown.
The image above shows an alternative display method for the session forecast and TPO profile!
Additionally, the pre-market and post-market times are denoted by dashed boxes.
The image above exemplifies additional capabilities.
That's all for now; further updates to come and thank you for checking this out!
And a special thank you to @TradingView of course, for making all of this possible!
Open Interest RSIThis indicator started as an experiment.
It is an RSI which is not based on the price but on the open interest.
It captures the momentum of the open interest in the same way as the RSI of the price.
Rules Open Interest (OI):
If the OI rises and the price rises = Bullish trend.
If the OI falls and the price continues to rise = bearish reversal possible
If the OI falls and the price continues to fall = Bullish reversal possible
If the OI rises and the price falls = Bearish trend
Since the OI RSI captures the momentum of the OI, it is recommended to include the price RSI for the analysis.
In the picture are marked different examples which show extreme situations
Example rose lines:
The price RSI and the OI RSI form a bearish divergence to the price and run parallel = strong bearish signal.
Example orange circles:
Price Falling. The price RSI is in the oversold zone and the OI RSI is above 53 or in the best case in the overbought zone. = Strong bullish signal
Example Blue circle:
The price RSI and the OI RSI are running parallel downwards and the price is also falling = bearish momentum.
As mentioned, this is an experiment. The tests were performed in the 4H chart
Have Fun
Open interest flow / quantifytools- Overview
Open interest flow detects inflows (positions opening) and outflows (positions closing) using open interest and estimates delta (net buyers/sellers) for the flows. Users are able to choose any open interest source available on Tradingview, by default set to BTCUSDT OI fetched from Binance. Using historical open interest flows, bands depicting typical magnitude of flows are formed for benchmarking intensity of flows. On the inflow side, +1 represents average inflows while +2 represents 2x above average inflows, a level considered an extreme. In a vice versa manner, -1 represents average outflows while -2 represents 2x above average outflows. Extreme inflows indicate aggressive position opening, in other words exuberance. Extreme outflows on the other hand indicate forced exiting of positions, in other words liquidations.
- Concept
Open interest flow is calculated using position of OI source relative to its moving average (by default set to SMA 10), referred to as relative open interest from hereon. When relative OI is positive (open interest is above its moving average), new positions are considered to enter the market. When relative OI is negative (open interest is below its moving average), existing positions are considered to exit the market. Open interest delta (side opening/closing positions, either net buyers/sellers) is calculated using relative price in a similar fashion to relative OI, but using close of viewed symbol as source. Price is considered to be up when relative price is positive, down when relative price is negative. Using relative OI and relative price in tandem, the following assumptions are applied:
Price up, open interest up = longs entering market
Price down, open interest up = shorts entering market
Price down, open interest down = longs exiting market
Price up, open interest down = shorts exiting market
Bands depicting magnitude of open interest flows are calculated using average turning points in relative OI. +1 and -1 represent levels where flows on average turn towards mean rather than continue to increase/decrease. These levels are then multiplied up to +2 and -2, representing two times larger deviations from the normal. When inflows are above 1, positions opening have reached a point where flows historically turn down. Therefore, anything above 1 would be abnormal amount of open interest entering, an extreme stretch being at 2 or above. Same logic applies to outflows, but in a vice versa manner (below -1 abnormal, extreme at -2)
Flow bursts further refine indications of aggressive inflows/outflows by taking into account change in open interest flows. Burst indications are activated when open interest is above its average turning point, coupled with a sufficient increase/decrease in flows simultaneously. Bursts are essentially a filtered version of abnormal flows and therefore a more reliable indication of exuberance/liquidations. Burst sensitivity can be adjusted via input menu, available in 5 settings. 1 sets OI burst requirements to loosest (more signals, more noise) while 5 sets OI burst requirements to strictest (less signals, less noise). Exact criteria applied to bursts can be viewed via input menu tooltip.
- Features
Users can opt for OI source auto-select for CRYPTO/USDT pairs. When auto-select is enabled and another chart is opened, corresponding open interest source is automatically selected as long as requirements mentioned above are met.
Open interest flows can be visualized as chart color, available separately for flow states and flow bursts.
Relative price line and flow guidelines (reminders for flow interpretation) can be enabled via input menu. All colors are customizable.
- Alerts
Available alerts are the following:
- Abnormal long inflows/outflows
- Abnormal short inflows/outflows
- Abnormal inflows/outflows from either side
- Aggressive longs/shorts (flow burst up)
- Liquidated longs/shorts (flow burst down)
- Aggressive or liquidated longs/shorts
- Practical guide
Open interest as a standalone data point does not reveal which side is likely opening/exiting positions and how extreme the participant behavior is. Using the additional data provided by open interest flows, moments of greed and fear can be detected. Smart money does not short into dips and buy into rips. When buyers or sellers have participated in a large move and continue to show interest even when efforts are not rewarded at an already overextended price, participants are asking for trouble.
Similar events can be observed when extreme outflows take place, indicating forced exits such as stop-losses triggering. When enough participants are forced out, price is likely to take the path of least resistance which is to the opposite direction.
