OPEN-SOURCE SCRIPT
Open Interest Saturation Oscillator
This is the Open Interest indicator Bounded and Normalized.
In order to make rapid Quant Trading decisions, I have inspired myself by other Open Interest indicators and developed this changing oscillator, that follow the rules of Open Interest!
The indicator is best used for Crypto currency pairs, however, anyone is open to test the indicators limits.
Best use cases for the indicator are as follow:
1. Rising OI Osc Value + Up-trending Market = New Longs Coming into the Market (Strong Bull, Aggressive Buying)
2. Rising OI Osc Value + Down-trending Market = New Shorts Coming into the Market (Strong Bear, Aggressive Selling)
3. Falling OI Osc Value + Up-trending Market = Long Orders being closed (Weak Bulls / Corrective move)
4. Falling OI Osc Value + Down-trending Market = Market is losing fuel / Preparing for a violent Bounce
I developed the indicator with the help and consultation with AI!
Please find it useful in your trading and may the profits be with you!
In order to make rapid Quant Trading decisions, I have inspired myself by other Open Interest indicators and developed this changing oscillator, that follow the rules of Open Interest!
The indicator is best used for Crypto currency pairs, however, anyone is open to test the indicators limits.
Best use cases for the indicator are as follow:
1. Rising OI Osc Value + Up-trending Market = New Longs Coming into the Market (Strong Bull, Aggressive Buying)
2. Rising OI Osc Value + Down-trending Market = New Shorts Coming into the Market (Strong Bear, Aggressive Selling)
3. Falling OI Osc Value + Up-trending Market = Long Orders being closed (Weak Bulls / Corrective move)
4. Falling OI Osc Value + Down-trending Market = Market is losing fuel / Preparing for a violent Bounce
I developed the indicator with the help and consultation with AI!
Please find it useful in your trading and may the profits be with you!
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
EA23W
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
EA23W
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.