!!!!! This indicator only shows Binance Perpetuals Open Interest Delta !!!!!
!!!!! When Binance Spot pair charts is selected, It still shows the perpetual contract Open Interest, if the pair on the chart is tradeble on perpetual contracts. I assume you know what Open Interest is. !!!!!
ZLEMA , Tillson, VAR MAs codes are coming from @KivancOzbilgic => SuperTrended Moving Averages KAMA code is coming from @HPotter => Kaufman Moving Average Adaptive ( KAMA )
הערות שחרור
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The only change in this update is: Version 2: Ticker names are changed in TradingView. Old version tickers ends with "PERP". Now perpetual tickers ends with ".P".
Hey man just a quick question. Doesnt 5k contracts number seems way to little? I mean, binance is top 1 exchange. In coinglass website it says that there a more than 100k open contracts of BTC.
Justa naive question, is the Y axis on a different scale then? Thanks
LordOfTheBlockchains
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@Maximalist1997, hi, actually I don't calculate the open interest data manually in this script. Open interest data directly coming from Binance to TradingView. I just calculate the delta value. This means: Delta = previous bar close - current close. If delta positive -> green bar. negative -> red bar. aqua line = previous bar close - the highest open interest at the current bar yellow line = previous bar close - the lowest open interest value at the current bar
If you add Open interest Delta indicator and my open interest indicator to the chart, you will see the candle forms are same. With one difference, Open interest are cumulative, Open interest delta relative to the each previous bar close.
Thank you so much for creating this. one question though. does upper shadow and lower shadow of the delta mean the upper and lower wick of open interest delta? thanks
LordOfTheBlockchains
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@galliard_, yes, exactly. Blue and yellow wicks show the highest and the lowest open interest delta data for each bar. green and red bars are close levels. you're welcome. :)
imtommyblack
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Thanks for sharing! I’m currently testing this on SOL and it shows some interesting correlation. I have set the MA to 36 and stuck to the 15m TF. I have drawn boxes that contain the price action where the MA was long and short sided and coloured appropriately. During these periods price tends to reach back up to where the MA flipped. I have noticed in the bearish container price tends to take out those shorts until they break even. If it breaks above then the MA flips bullish it tends to reverse presenting as a deviation. In summary it clearly shows that price is hunting stops when open interest is weighed to one side. E.g more shorts= higher price more longs= lower price. Next I will compare data with BTC to see if SOL is simply following BTC and wrecking everyone or if Binance futures really is the best contra-indicator!
imtommyblack
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@imtommyblack, Am I reading the indicator correctly that positive delta = more long interest / negative delta = more short interest rather than positive delta = positions opening / negative delta = positions closing?
greekpirate82
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@imtommyblack, if I understood ,I think it means , possitive delta = previous bar open interest - current bar open interest =open interest increase . So in case of an uptrend the increase of OI is bullish if price goes lower(downtrend) and delta is positive then means bearish cause contracts increase and confirm the downtrend..this is my understanding...
Justa naive question, is the Y axis on a different scale then? Thanks