HPI (Indicator)
DisclaimerInput Information
| Name | Expression | Default | Description |
| OneCent | Numeric | 100 | The contract value of a 1 cent move in the underlying asset. |
| SmoothingFactor | Numeric | .133 | A user-defined smoothing constant. |
| AlertLength | Numeric | 14 | Number of bars used to check for a divergence against price data. |
| ColorNormLength | Numeric | 14 | Number of bars over which to normalize the indicator for gradient coloring. |
| UseGradientColoring | Numeric | 1 | Set to 1 for gradient (blended) coloring; set to 0 for no gradient coloring. |
| UpColor | Numeric | Yellow | Color to use for indicator values that are relatively high over ColorNormLength bars. Set to -1 to disable gradient color plotting. |
| DnColor | Numeric | Cyan | Color to use for indicator values that are relatively low over ColorNormLength bars. Set to -1 to disable gradient color plotting. |
| GridForegroundColor | Numeric | Black | Color to use for numbers in RadarScreen cells when gradient coloring is enabled, that is, when both UpColor and DnColor are set to non-negative values. |
Market Synopsis
The HPI indicator measures the money flow of an underlying asset or option as well as significant divergences between the price activity and the indicator, determining whether a market is bullish or bearish. Positive values are generally bullish indications as there is increasing interest in the market. Negative values are generally bearish indications as there is decreasing interest in the market. HPI examines open interest in relation to price activity and Volume. Since the HPI indicator uses open interest as a key element in its calculations, it can only be used in conjunction with daily futures or options data.
Plot Information
| Number | Name | Default Color | Description |
| Plot1 | HPI | Cyan | Plots the HPI value. |
| Plot2 | ZeroLine | Dark Green | Plots a horizontal reference line at 0. |
When applied to a chart, this indicator displays two plots in a separate subgraph from the price data.
Set UseGradientColoring to 0 to disable gradient plot coloring. When disabled, Plot1 color is determined by settings in indicator properties dialog box. Plot2 (ZeroLine) color always comes from indicator properties dialog box.