Resistance Index - Open Interest

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Resistance Index - Open Interest

Variable List Abbreviation: Resistance-OpnInt

 

Variable Mode(s): Stock and Futures1

[ Note: appears in indicator list only after open interest selected ]

 

Parameter(s): Resistance-OpnInt time periods

 

Description:

Difference between "Resistance to Advances - Open Interest" and "Resistance to Declines - Open Interest".  In general, prices tend to rise when the resistance to advances becomes less than the resistance to declines and tend to decline when the resistance to advances becomes greater than the resistance to declines.  Thus the resistance index trend may be useful for predicting the direction and strength of price trends.