Put/Call OI Extreme (PaintBar)Analysis Techniques & Strategies
Put/Call OI Extreme (PaintBar)| Name | Expression | Default | Description |
| MALength | Numeric | 20 | Number of bars to use when calculating the moving average of the IV/VSD ratio. |
| PctAboveOrBelowMA | Numeric | 5 | Percentage amount above or below the moving average of the IV/VSD ratio that is considered "extreme", causing a bar to be painted. Enter percentages as whole numbers, not as fractions. For example, for 50% enter 50, not 0.50. } |
| PaintHiExtremes | True/False | True | Set to true to paint a bar when IV/VSD is at or above the PctAboveOrBelow MA target. Set to false to not paint the bar for this condition. |
| HiColor | Numeric | Red | Sets the bar paint color for high extremes. |
| PaintLowExtremes | True/False | True | Set to true to paint a bar when IV/VSD is at or below the PctAboveOrBelow MA target. Set to false to not paint the bar for this condition. |
| LoColor | Numeric | Yellow | Sets the bar paint color for low extremes. |
Put/Call OI Extreme is an options-related indicator that paints a bar if the ratio of put open interest (OI) to call open interest is a user-specified percentage above or below its moving average.
The percentage amount above or below the moving average is a percentage of the moving average value. Thus, for example, if the input pctAboveOrBelowMA is set to 30, then bars will be painted when the ratio is greater than or equal to 30% (1.3 times) the average ratio value, or less than or equal to 30% (0.7 times) the average ratio value.
Open interest data is available only on an end-of-day basis, not on a live intraday basis. For this reason, this study can only be used on data of daily or higher bar intervals.
|
Number |
Name |
Default Color |
Description |
|
Plot1 |
PCOI Extreme |
Red |
Paints each bar where the high or low values are reached. |
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