Open Interest (Indicator)
Disclaimer
Input Information
There are no inputs for this indicator.
Market Synopsis
Open Interest (the number of open contracts) is often used to confirm trends and trend reversals for futures and options contracts. An increase in Open Interest along with an increase in price is said to confirm an upward trend. Similarly, an increase in Open Interest along with a decrease in price confirms a downward trend. An increase or decrease in prices while Open Interest remains flat or declining may indicate a possible trend reversal.
Plot Information
| Number | Name | Default Color | Description |
| Plot1 | OpenInt | Magenta | Plots open interest as a line. |
Note: This indicator only returns significant results when applied to futures or options price data with a data interval of daily or longer.