On Balance Open Interest

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On Balance Open Interest

Variable List Abbreviation: OBOpnInt

 

Variable Mode(s): Standard and Futures1

[ Note: appears in indicator list only after volume selected ]

 

Parameter(s): OBOpnInt time periods

 

Description:

Total over n (time periods) time periods of open interest added for time periods with an increasing close and subtracted for time periods with a decreasing close.  The On Balance trend may be useful for confirming price movement or detecting price reversal.