From TradersList Editors

From TradersList Editors

Evaluate market sentiment and gauge potential price movements with this reliable volume indicator, highlighting open position changes.

Evaluate market sentiment and gauge potential price movements with this reliable volume indicator, highlighting open position changes.

MetaTrader Indicator

MetaTrader Indicator

Open Interest Indicator: Track Total Open Position Volume Changes for MetaTrader

Open Interest Indicator: Track Total Open Position Volume Changes for MetaTrader

MetaTrader trading chart displaying the Open Interest volume indicator with blue bars signifying growth and red bars indicating a decline in open interest

by barabashkakvn on MetaTrader

MetaTrader trading chart displaying the Open Interest volume indicator with blue bars signifying growth and red bars indicating a decline in open interest

by barabashkakvn on MetaTrader

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Open Interest

Open Interest

Open Interest is a MetaTrader indicator that monitors the net value of open positions using blue and red candle colors, corresponding to increases or decreases in open interest.

Open Interest is a MetaTrader indicator that monitors the net value of open positions using blue and red candle colors, corresponding to increases or decreases in open interest.

Get on MetaTrader

This indicator is available on MetaTrader charting platform. Signing up for a free account and downloading MetaTrader software is required.

Get on MetaTrader

This indicator is available on MetaTrader charting platform. Signing up for a free account and downloading MetaTrader software is required.

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Open Source

Listing has publically available source code that can be audited and modified as needed.

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Open Source

Listing has publically available source code that can be audited and modified as needed.

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Free Access

All features of this listing are fully free to use with no pricing tiers. Simply start using.

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Free Access

All features of this listing are fully free to use with no pricing tiers. Simply start using.

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Trusted Publisher

Publisher of this listing is well recognized in social channels and receives overwhelmingly positive feedback.

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Trusted Publisher

Publisher of this listing is well recognized in social channels and receives overwhelmingly positive feedback.

Robust Theory

Concepts and theories mentioned in listing are based on generally approved and well established notions.

Robust Theory

Concepts and theories mentioned in listing are based on generally approved and well established notions.

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Popular Topic

Concepts and theories mentioned in listing are popular topics in web search

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Popular Topic

Concepts and theories mentioned in listing are popular topics in web search

Published by barabashkakvn on MetaTrader

Published by barabashkakvn on MetaTrader

Tracking Net Position Changes

Open interest represents the total number of outstanding derivative contracts that have not been settled. This indicator monitors changes in open interest and displays them as colored candles - blue when open interest increases and red when it decreases - giving traders a visual measure of market participation and commitment.

Rising Open Interest and Trend Strength

When price moves in one direction and open interest rises simultaneously, it confirms that new money is entering the market in support of the trend. A rally with increasing open interest signals fresh long positions being established, strengthening the bullish case. Declining open interest during a rally suggests short covering instead.

Tracking Net Position Changes

Open interest represents the total number of outstanding derivative contracts that have not been settled. This indicator monitors changes in open interest and displays them as colored candles - blue when open interest increases and red when it decreases - giving traders a visual measure of market participation and commitment.

Rising Open Interest and Trend Strength

When price moves in one direction and open interest rises simultaneously, it confirms that new money is entering the market in support of the trend. A rally with increasing open interest signals fresh long positions being established, strengthening the bullish case. Declining open interest during a rally suggests short covering instead.

Falling Open Interest as a Warning

Decreasing open interest during a trend indicates that traders are closing positions rather than opening new ones. This liquidation pattern often precedes trend exhaustion. For example, if price keeps rising but open interest drops, the advance is losing participants and may be nearing a reversal point.

Combining With Price Action

The most reliable signals come from combining open interest direction with price direction. Bullish convergence occurs when both price and open interest rise together. Bearish divergence occurs when price rises but open interest falls. These combinations provide a deeper understanding of the conviction behind price movements.

Falling Open Interest as a Warning

Decreasing open interest during a trend indicates that traders are closing positions rather than opening new ones. This liquidation pattern often precedes trend exhaustion. For example, if price keeps rising but open interest drops, the advance is losing participants and may be nearing a reversal point.

Combining With Price Action

The most reliable signals come from combining open interest direction with price direction. Bullish convergence occurs when both price and open interest rise together. Bearish divergence occurs when price rises but open interest falls. These combinations provide a deeper understanding of the conviction behind price movements.

Get insights into net value of open trades

Get insights into net value of open trades

Open Interest tracks changes in outstanding derivative contracts using color-coded candles. Blue indicates rising open interest while red shows declining interest, providing visual insight into whether new money is entering or exiting the market.

Open Interest tracks changes in outstanding derivative contracts using color-coded candles. Blue indicates rising open interest while red shows declining interest, providing visual insight into whether new money is entering or exiting the market.

Monitor market participation levels

Rising open interest during a price move confirms new positions are being established, suggesting conviction behind the trend.

Distinguish new positions from closures

Blue candles show new contracts opening while red candles indicate existing positions closing. This reveals whether moves are fresh or liquidation-driven.

Spot potential forced liquidations

Sharp drops in open interest during rapid price moves often signal cascading liquidations. Position accordingly during high-OI unwinds.

Common Questions About Open Interest Analysis

Common Questions About Open Interest Analysis

Open interest tracks the total outstanding derivative contracts, revealing whether new money is entering or exiting the market. These questions address how to interpret changes in open interest alongside price action.

Open interest tracks the total outstanding derivative contracts, revealing whether new money is entering or exiting the market. These questions address how to interpret changes in open interest alongside price action.

What do blue and red candles indicate?

Blue candles appear when open interest increases, indicating new positions being established. Red candles appear when open interest decreases, showing positions being closed. This visual display makes participation changes immediately visible.

What does rising open interest during a trend confirm?

When price moves in one direction and open interest rises simultaneously, new money is entering in support of the trend. A rally with increasing open interest signals fresh long positions, strengthening the bullish case.

Why is falling open interest during a trend a warning?

Decreasing open interest indicates traders are closing positions rather than opening new ones. This liquidation pattern often precedes trend exhaustion. Rising price with falling open interest suggests the advance is losing participants.

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Web sentiment

Web sentiment

Traders online feel mixed about Open Interest on MQL5; they appreciate its robust features and community support but express concerns over reliability and authenticity of reviews.

Traders online feel mixed about Open Interest on MQL5; they appreciate its robust features and community support but express concerns over reliability and authenticity of reviews.

Source: Online Discussion

Source: Online Discussion

Source: Online Discussion

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TradersList Reviews (2)

TradersList Reviews (2)

TradersList Community has given this listing four stars, indicating a well trusted listing with great utility value. This listing is one of the better ones on TradersList.

TradersList Community has given this listing four stars, indicating a well trusted listing with great utility value. This listing is one of the better ones on TradersList.

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Source: TradersList Reviews

Source: TradersList Reviews

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