Noldo

Weiss Wave Open Interest Bars

Firstly :

LazyBear ' s "Weiss Wave " codes are used for open interests.
Original Weiss Wave Volume :
Let's start :

Open Interest vs. Volume: An Overview
Volume and open interest are two key measurements that describe the liquidity and activity of contracts In the options and futures markets. However, their meanings and applications are different. Volume refers to the number of contracts traded in a given period, while open interest denotes the number of active contracts.

Volume
Trading volume measures the number of options or futures contracts being exchanged between buyers and sellers, identifying the level of activity for that particular contract. For every buyer, there is a seller, and the transaction itself counts toward the daily volume .

Open Interest
Open interest indicates the number of options or futures contracts that are held by traders and investors in active positions. These positions have not been closed out, expired, or exercised. Open interest decreases when holders and writers of options (or buyers and sellers of futures ) close out their positions. To close out positions, they must take offsetting positions or exercise their options. Open interest increases once again when investors and traders open new long positions or writers/sellers take on new short positions. Open interest also increases when new options or futures contracts are created.

Options or futures contract trading volume can only increase while open interest can either increase or decrease. While trading volume indicates the number of contracts that have been bought or sold, open interest identifies the number of contracts that are currently held.
Reference : https://www.investopedia.com/ask/answers...

*** Worked to define all futures . You can look them in codes (between line : 13 to line 94 )

** CAUTION 1 : Since each instrument in the list has its own unique contract data, you must first enter its name to display it. I recommend you to select OANDA from the markets. Finally, when the COT reports are issued, it may repaints. However, this repaint is usually close to closing or after close .(When COT reports are so sharp ) So use this script only 1W ( 1 week ) or 1 M ( 1 month ) timeframe.

** CAUTION 2 : This data is taken to Tradingview with the help of Quandl. This is a tremendous possibility, but the system will not work if there is a malfunction.

Best regards.

הערות שחרור: UPDATE : Bitcoin added . Now it opens : all BTCUSD and XBTUSD charts.

Switchable Preferences added. Now Futures using Open Interest Bars and others using Volume Bars. You can choose from on settings !
סקריפט קוד פתוח

ברוח TradingView אמיתית, מחבר סקריפט זה פרסם אותו עם קוד פתוח, כך שסוחרים יוכלו להבין ולאמת זאת. הידד למחבר! אתה יכול להשתמש בו בחינם, אך שימוש חוזר בקוד זה בפרסום הנו בכפוף ל כללי הבית . אתה יכול להגדירו כמועדף ולהשתמש בו בגרף.

רוצה להשתמש בסקריפ זה בגרף?

תגובות

how can i use it for indian stocks listed on nse and bse including futures and options ?
+11 השב
This is incredible! How can we ensure this never breaks down? Is it possible to add for other currencies - GBPJPY, GBPNZD, AUDJPY etc?
+1 השב
Noldo Neogenesis2019
@Neogenesis2019, Hello . 1 - ) You can change line : 130 , then you can do everything in your mind , for etc. macd crossover etc. But i prefer this code like normal volume bars so i can see relative interest and trend power.

2 - ) Its impossible : This is the source: https://www.quandl.com/data/CFTC-Commodity-Futures-Trading-Commission-Reports?keyword=

CFTC datas are singular : For example : Mexican Peso Futures means : MXN/USD and it uses major currencies generally.
השב
Hi ! great concept ! is this working for other cryptos like ETHEREUM , on futures too ?
השב
Noldo zeplissken
@zeplissken, thanks.
quandl currently does not include eth data.
That is why it cannot be added.
But it is not clear in the future.
השב
how can we add NSE future contract to trade in India ?
השב
This is fantastic. Is it possible to get COI ( Cumulative open interest), ie sum of 3 months contract OI ? it is more important than the single month
השב
Thanks for this, anyway of adding more Crypto majors ?
השב
I Can only use it onfew fx pairs is there any way if i can use it on more fx pairs. kudos
השב
how to apply your code for BITCOIN USD BITMEX.PLZ LET ME KNOW
השב