Open Interest Wiser [WISY]
This script calculates the open interest (OI) of a given futures contract and identifies when the OI is increasing or decreasing.
It then plots bubbles on the chart to indicate when the OI is increasing or decreasing, with larger bubbles indicating a larger increase or decrease.
The script also calculates the rate of change (ROC) and the relative strength index (RSI) of the OI and its delta.
The user can adjust the input parameters to change the sensitivity of the indicator to changes in OI.
Dear traders, while we strive to provide you with the best trading tools and resources, we want to remind you to exercise caution and diligence in your investing decisions.
It is important to always do your own research and analysis before making any trades. Remember, the responsibility for your investments ultimately lies with you.
Happy trading!
It then plots bubbles on the chart to indicate when the OI is increasing or decreasing, with larger bubbles indicating a larger increase or decrease.
The script also calculates the rate of change (ROC) and the relative strength index (RSI) of the OI and its delta.
The user can adjust the input parameters to change the sensitivity of the indicator to changes in OI.
Dear traders, while we strive to provide you with the best trading tools and resources, we want to remind you to exercise caution and diligence in your investing decisions.
It is important to always do your own research and analysis before making any trades. Remember, the responsibility for your investments ultimately lies with you.
Happy trading!
Versionsinformation:
- Allow decimals in the USD threshold (millions) parameter. Cryptos with smaller market cap sometimes needs threshold below 1M.