OPEN-SOURCE SCRIPT
Price OI Division
Price OI Division Indicator
Overview
The Price OI Division indicator (`P_OI_D`) is a custom TradingView script designed to analyze the relationship between price momentum and open interest (OI) momentum. It visualizes the divergence between these two metrics using a modified MACD (Moving Average Convergence Divergence) approach, normalized to percentage values. The indicator is plotted as a histogram and two lines (MACD and Signal), with color-coded signals for easier interpretation.
Key Features
- Normalized Price MACD: Compares short-term and long-term price momentum.
- OI-Adjusted MACD: Incorporates open interest data to reflect market positioning.
- Divergence Histogram: Highlights the difference between price and OI momentum.
- Signal Line: Smoothed EMA of the divergence for trend confirmation.
- Threshold Lines: Horizontal reference lines at ±10% and 0 for quick visual analysis.
Interpretation Guide
- Bullish Signal:
- Bearish Signal:
- Neutral/Reversal:
Usage Notes
Disclaimer
This indicator is for educational purposes only. Trading decisions should not be based solely on this tool. Always validate signals with additional analysis and risk management.
Overview
The Price OI Division indicator (`P_OI_D`) is a custom TradingView script designed to analyze the relationship between price momentum and open interest (OI) momentum. It visualizes the divergence between these two metrics using a modified MACD (Moving Average Convergence Divergence) approach, normalized to percentage values. The indicator is plotted as a histogram and two lines (MACD and Signal), with color-coded signals for easier interpretation.
Key Features
- Normalized Price MACD: Compares short-term and long-term price momentum.
- OI-Adjusted MACD: Incorporates open interest data to reflect market positioning.
- Divergence Histogram: Highlights the difference between price and OI momentum.
- Signal Line: Smoothed EMA of the divergence for trend confirmation.
- Threshold Lines: Horizontal reference lines at ±10% and 0 for quick visual analysis.
Interpretation Guide
- Bullish Signal:
- Histogram turns red (positive & increasing).
- MACD (red line) crosses above Signal (blue line).
- Divergence above +10% indicates extreme bullish conditions.
- Bearish Signal:
- Histogram turns green (negative & increasing).
- MACD (lime line) crosses below Signal (maroon line).
- Divergence below -10% indicates extreme bearish conditions.
- Neutral/Reversal:
- Histogram fading (teal/pink) suggests weakening momentum.
- Crossings near the Zero Line may signal trend shifts.
Usage Notes
- Asset Compatibility: Works best with futures/perpetual contracts where OI data is available.
- Timeframe: Suitable for all timeframes, but align `fastLength`/`slowLength` with your strategy.
- Data Limitations: Relies on exchange-specific OI symbols (e.g., `BTC:USDT.P_OI`). Verify data availability for your asset.
- Confirmation: Pair with volume analysis or support/resistance levels for higher accuracy.
Disclaimer
This indicator is for educational purposes only. Trading decisions should not be based solely on this tool. Always validate signals with additional analysis and risk management.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
微信 Wechat：yubolun001 （备注：TV）
------------
Binance 优惠：
accounts.binance.com/zh-CN/register?ref=X1PFQ12Z
Bitget 优惠：
partner.bitget.fit/bg/MRSHJ6
OKX 优惠：
okx.com/join/86487038
------------
Binance 优惠：
accounts.binance.com/zh-CN/register?ref=X1PFQ12Z
Bitget 优惠：
partner.bitget.fit/bg/MRSHJ6
OKX 优惠：
okx.com/join/86487038
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
微信 Wechat：yubolun001 （备注：TV）
------------
Binance 优惠：
accounts.binance.com/zh-CN/register?ref=X1PFQ12Z
Bitget 优惠：
partner.bitget.fit/bg/MRSHJ6
OKX 优惠：
okx.com/join/86487038
------------
Binance 优惠：
accounts.binance.com/zh-CN/register?ref=X1PFQ12Z
Bitget 优惠：
partner.bitget.fit/bg/MRSHJ6
OKX 优惠：
okx.com/join/86487038
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.