ntroduction The "Long / Short OI Build Up" script is designed to identify potential long or short build-up opportunities based on changes in open interest (OI) and price movements. Open interest refers to the total number of outstanding contracts for a financial asset, such as futures or options, that have not been settled. This script provides insights into whether there is a build-up of long positions (bullish sentiment) or short positions (bearish sentiment) in the market.
Script Overview Indicator Overlay: This script functions as an overlay indicator, meaning it plots its output on the price chart. Input Customization: Users can customize the symbol for which they want to analyze open interest data. Additionally, they can adjust parameters like the percentage change in open interest and price to define build-up conditions. Dashboard Display: The script includes a dashboard feature that displays the build-up analysis at a chosen location on the chart. Build-Up Analysis: Based on the defined criteria, the script identifies whether there is a long build-up (bullish) or short build-up (bearish) scenario. It calculates the change in open interest and price and compares them against user-defined thresholds. Table Visualization: The results of the analysis are presented in a table format, showing the build-up type, percentage change in open interest, and percentage change in price. Usage Override Symbol: Users can choose to override the default symbol for analysis by selecting this option and entering the desired symbol. Price Change Percentage: Set the percentage change in price that should trigger a build-up signal. OI Change Percentage: Define the percentage change in open interest necessary to signal a build-up scenario. Dashboard Location: Choose the location on the chart where the build-up analysis table will be displayed (options include Top Right, Bottom Right, and Bottom Left). Interpretation Build Up: Indicates whether there is a long build-up (green) or short build-up (red) based on the defined criteria. OI Change: Shows the percentage change in open interest relative to the previous value. Positive values are highlighted in green, indicating an increase, while negative values are highlighted in red, indicating a decrease. Price Change: Displays the percentage change in price relative to the previous close. Positive values are highlighted in green for price increase, while negative values are highlighted in red for price decrease. Conclusion The "Long / Short OI Build Up" script provides traders with valuable insights into potential bullish or bearish build-up scenarios based on changes in open interest and price movements. By customizing parameters and visualizing the analysis on a chart dashboard, traders can make more informed decisions regarding their trading strategies.
not able to find the indicator in trading view so applied the code in pine where getting error as 11:33:47 AM Warning at 13:11 The `expr0` parameter of the `operator ?:` function accepts a 'bool' argument. To avoid potential unexpected results, pass a 'bool' value or expression to this parameter. 11:33:47 AM Warning at 14:10 The `expr0` parameter of the `operator ?:` function accepts a 'bool' argument. To avoid potential unexpected results, pass a 'bool' value or expression to this parameter.
Dear Vignesh, can you add all 3 indicator - open nr low or High, open interest highest at call side / put side with RSI and RSI indicator with Nifty refreance in one script so it will be very fruitful to non paid trading view user as its allow only 2 max indicator to add
Warning at 13:11 The `expr0` parameter of the `operator ?:` function accepts a 'bool' argument. To avoid potential unexpected results, pass a 'bool' value or expression to this parameter.
11:33:47 AM
Warning at 14:10 The `expr0` parameter of the `operator ?:` function accepts a 'bool' argument. To avoid potential unexpected results, pass a 'bool' value or expression to this parameter.