Net Futures OI Change + Price/OI Logic – All Bars

-This indicator shows Net Change in Open Interest of Futures contract, with Open interest built-up with relation to price, specifically made for Indian Markets. Works on Index futures & Stock Futures (even on chart of underlying *if also traded in F&O segment*).

-This indicator only shows Net Futures open interest, as Tradingview only provides Open Interest for Futures contracts (in pinescript) and updates every 3 Minutes (according to the rule of National Stock Exchange)

-Also works on timeframes: 3 Minutes to 1 Month (only on Indian Scrips)

*Can use on other scrips excluding Indian Markets, but it will work only on Daily Timeframe*

Tip: Turn on/off ‘Pane Labels’ under graphic objects from indicator settings to view price relation with Open Interest (small text will appear on histogram bar)

How to Use:
Rise in Price, Rise in OI = Long Built Up
Rise in Price, Slide in OI = Short Covering
Slide in Price, Slide in OI = Short Built Up
Slide in Price, Slide in OI = Long Unwinding

Disclaimer/Warning: This indicator does not provide Buy/Sell signals or nor is an investment advice. This indicator solely for the purpose of study of price and open interest. Users are responsible for their own actions, profit/loss of the users is not the liability of author.