Download: OPEN_INTEREST.ELA
Category: Indicator > Miscellaneous
Description:
Open Interest (the number of open contracts) is often used to confirm trends and trend reversals for futures and options contracts.
Usage:
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.
No Inputs
EasyLanguage Code:
IF OPENINT <> 0 THEN
PLOT1(OPENINT, "OPENINT");