Price and OI Change

8월 30일Price and OI Change

Description:

The "Price and OI Change" indicator provides insights into market dynamics by analyzing the price and open interest (OI) changes over a 7-day period. This indicator is designed for use with both spot and futures markets, including cryptocurrencies.

Key Features:

Price and OI Change Calculation: Computes the 7-day change in price and open interest to help identify market trends and shifts.

Market Conditions Visualization: Differentiates market conditions by changing the background color based on:

Leverage-Driven Market: Blue background indicates increasing prices and OI, suggesting a bullish trend driven by leverage.

Spot-Driven Market: Green background shows increasing prices but decreasing OI, indicating a bullish trend driven by spot market activity.

Leverage Sell-Off: Orange background reveals decreasing prices with increasing OI, signaling a potential liquidation phase.

Deleveraging Sell-Off: Red background reflects decreasing prices and OI, indicating a bearish market with reduced leverage.

Top 3 BTC Futures Average OI: Displays the average open interest for the top 3 BTC futures contracts from major exchanges (Binance, OKX, Bybit). This helps gauge overall market sentiment and liquidity.

Visualization Tools: Includes optional plotting of open interest data and average OI for better visualization of market conditions.

Usage:

Traders and Analysts: Use the background color changes and average OI to make informed decisions about market entry and exit points.

Futures Traders: Track OI changes in major BTC futures to assess market strength and potential liquidity issues.