Description:
Hey fellow traders! I’m excited to introduce you to the latest version of the Open Interest Online Indicator. This revamped tool comes with an intuitive design that makes tracking market sentiment easier than ever.
Here’s a quick rundown of the standout features:
- Automatic Background and Color Scheme: The indicator now automatically adjusts its background and colors to enhance your trading experience.
- Proximity Levels: You can now display levels and their values that are closest to the current price, including all 15 strikes.
- Customizable Brightness: Adjust the brightness of the levels or choose to show only the background for a cleaner look.
- Open Interest Values: You have the option to view numerical values of Open Interest by Call/Put.
- Historical Levels: Historical levels can be displayed as an optional feature.
When the Open Interest Put values surpass the Open Interest Call values, the indicator turns red, indicating a short position. Conversely, if Call values are greater than Put, the indicator displays blue, signaling a long position.
The depth of the colors corresponds to the quantitative ratio of Open Interest against its maximum level for that day, making it easier to visualize the strength of each level. The numerical values relate directly to the Call/Put ratios, giving you actionable insights at a glance.
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