Article/Author: Omega Research Inc., 1997

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.

IF OPENINT <> 0 THEN 

	PLOT1(OPENINT, "OPENINT");