Open Intrest / Volume / Liquidations (Suite) [BigBeluga]

2024년 3월 14일

This indicator is a suite of tools that aims to provide traders with efficient metrics to analyze the market in a different way, such as various types of Open Interest, Intraday Volume, and Liquidations.

This indicator can both save time and also provide a different approach to the usual price action trading style.

🔶 FEATURES

The indicator contains the following features:

Open Interest Suite
- Delta OI
- Net longs and shorts
- OI Relative Strength Index

Intraday Volume Suite
- Bullish and Bearish LTF Volume
- CVD
- Delta Volume

Liquidations Suite
- Long and Short Liquidations
- Cumulative Liquidations

🔶 EXAMPLE OF SUITE



In the example above, we can see how we can plot long and short positions, both opening and closing out.

This can give a unique way to view which side is the strongest but also which side has the most resting liquidity.

For example, if more longs are entering the market, it also means more liquidity for longs and vice versa.



Or, for example, plotting the delta OI will allow the user to see big percentages in change and spot big areas of position closing out.

This presents a fascinating method for observing numerous positions closing out in conjunction with a surge of liquidations, which could indicate a potential reversal in price.



Here, we can see a basic example of using intraday volume on a 1m LTF.

With this, we are able to see both bullish and bearish volume of the same candle, very useful to see both volumes traded in the same candle.



Using the CVD to see the overall direction based purely on the volume and spot divergence, for example, the price in an uptrend but CVD going down, indicating weak shorts in the market or trapped shorts.



Or simply view liquidations happening in the market in a very different way, both long and short liquidation at the same time + the option to use multi-timeframe liquidations.

🔶 CONCLUSION

The idea of this script is to provide a set of tools in a unique script to optimize time and analyze the market in both a quick way and in a different way than usual.